February 2015

Spotlight – In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”

A feature in the news relating to insurance brokers, companies and reinsurers has been the fact that they can take each other over as referred to above. There are some markets where that is impossible. Although brokers and carriers have a head office, the location of that centre of the corporation can, if need be, be moved elsewhere. Captive havens like Gibraltar, Dublin and others cannot just pick up a whole city or an island and relocate. Therefore, such captive marketplaces must rely on something else to stay ahead of the pack or take someone else’s place as a market of preference. A tough call. It can take a bit of lateral thinking and Malta has done just that. Having been pipped at the post by Guernsey, as we report in the Bazaar, Malta has set out its wares in an excellent report which has appeared in Captive Review. Looking at some of the articles: “Setting the Bar Higher,” “The European PCC – Implementing Solvency II,” “Reaping the Benefits” and more, we feel our readers will want to pop on the plane and take a good look first hand. Why not? You can access the publication at http://www.captivereview.com/wp-content/uploads/2015/01/CRMalta2015-3.pdf and we are grateful to Nick Morgan of Captive Review for permission to provide this link and any questions or comments can be addressed to him at n.morgan@captivereview.com