When insurance management caught ground in Malta, and a number of local and overseas companies established their operations here, it was felt that that the MIMA should be established. Every insurance manager is eligible for membership within MIMA whose members offer employment to 83 employees. The interest being shown in Malta is growing and the number of employees is set to grow. MIMA has been active in its endeavours since August 2007.
The Maltese market currently (end September 2011) consists of 45 insurance companies of which 37 are companies managed by our members and the rest are non-managed domestic/overseas principal companies. In addition 7 PCCS also operate in Malta of which 3 write business through the wre and which collectively operate 16 cells. In this list of managed companies are affiliated insurers (pure captives) writing parent company business in the EU as well as direct insurers that have passported into the EU. These companies write a total premium income of approximately €923 million (as at 31 December 2010) with total cash & investments at 31 December 2010 in excess of €1 billion euro. This is a very substantial part of the entire premium income written by Maltese companies.
