Source: PKF Malta
The Strategy Institute of Toronto is proud to present the 8th Annual Canadian Captives & Corporate Insurance Strategies Summit taking place at in Toronto on the 16th/17th May 2012. This annual event is uniquely designed for risk managers and is the ideal place to gain the crucial business intelligence needed to maximise the effectiveness of corporate insurance programs. Among a list of speakers we find Gordon Anderson¸ President of Cidel Trust focusing on the maxim that if any company has significant¸ profitable international operations¸ a captive insurance company is worth serious consideration. An interesting case study is being presented by Richard Christensen¸ President and GM of Nissan Global Reinsurance (Nissan has a captive registered in Malta). Richard is talking about the process behind merging and closing inactive captives which is of topical interest in an economic slowdown.
Speakers at the Toronto seminar shall dwell in detail on the best solution on how to tackle the added pressures arising from tougher regulation (typically Solvency II) and present case studies and give tips on how to determine risk appetite¸ exit strategies¸ gauge the impact of new international legislations and explore alternative risk transfer (ART) strategies.
My presentation will focus on the advantages and disadvantages of selectingMalta as a captive domicile and may attract attention from practitioners hailing from North America¸ Canada and some European countries. This will consist of a virtual tour comparing the largest and fastest growing onshore and offshore domiciles.Malta’s attributes will include its European regulatory environment and explains standards such as TIEA¸ OECD and Solvency II to Canadian parents. Over the years this promotion has found the support it merits from organisations such as Malta Enterprise¸ MFSA and FinanceMalta.
A recent study stated thatVermont¸ Bermuda¸Switzerland and Cayman have tuned their regulation to mirror the Solvency II methodology getting regulatory platforms inNorthern America in line with that of the European model. These developments putMalta in a position to provide a solution for captive insurance operators from the other side of theAtlantic which happen to have European subsidiaries and therefore have to insure their commercial risks at the most efficient and economical rates.
From market research one can expect a number of positive enquiries at theToronto seminar given that risk managers are becoming more interested to explore the unique qualities of PCCs and ICCs which in the EU can only be registered in Malta.
In conclusion¸ Malta has the necessary local expertise to compete in the Canadian market so as to ensure that the formation and running of a captive insurance company can be achieved with maximum ease.
Readers interested to attend may email Audrey–Ann Casingena at email@example.com or call +356 21335715