[ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) 1 SUBSIDIARY LEGISLATION 403.26 INSURANCE BUSINESS ACT (FEES) REGULATIONS 1st January, 2025 LEGAL NOTICE 368 of 2024, as amended by Legal Notice 303 of 2025. 1.
(1)The title of these regulations is the Insurance Business Act (Fees) Regulations. Citation, commencement and applicability.
(2)These regulations shall come into force on the 1st January 2025.
(3)These regulations shall apply to fees falling due on or after the coming into force of these regulations. 2.
(1)otherwise requires: In these regulations, unless the context "Act" means the Insurance Business Act; Interpretation. Amended by: L.N. 303 of
- Cap.
- "business of affiliated insurance" shall have the same meaning as is assigned to it by regulation 15 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations; S.L. 386.10 "cell" shall have the same meaning as assigned to it in the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations; S.L. 386.
- "cell company" shall have the same meaning as assigned to it in the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations; S.L. 386.
- "competent authority" means the Malta Financial Services Authority established by the Malta Financial Services Authority Act; Cap.
- "European insurance undertaking" shall have the same meaning as assigned to it in the European Passport Rights for Insurance and Reinsurance Undertakings Regulations; S.L. 403.
- "European regulatory authority" shall have the same meaning as assigned to it in the European Passport Rights for Insurance and Reinsurance Undertakings Regulations; S.L. 403.
- "gross premium" means the premiums of an undertaking after the deduction of discounts, refunds and rebates of premiums but before the deduction of premiums for reinsurance ceded and before the deduction of commissions payable by that undertaking, as noted in the annual 2 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) quantitative template submitted to the competent authority for the preceding year; S.L. 386.
- "incorporated cell" shall have the same meaning as assigned to it in the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations; S.L. 386.
- "incorporated cell company" shall have the same meaning asassigned to it in the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations; S.L. 403.
- "reinsurance special purpose vehicle" shall have the same meaning as assigned to it in the Reinsurance Special Purpose Vehicles Regulations; S.L. 386.
- "securitisation cell company" shall have the same meaning as assigned to it in the Securitisation Cell Companies Regulations. Cap. 403. Cap. 386.
(2)Words and expressions used in these regulations which are also used in the Insurance Business Act or the Companies Act, but which are not herein defined shall have the same meaning as in the respective Acts, as applicable. Fees in relation to undertakings carrying on the business of insurance and, or reinsurance. Amended by: L.N. 303 of 2025. 3.
(1)An undertaking whose head office is in Malta that intends to carry on the business of insurance and, or reinsurance in or from Malta or in or from a country outside Malta shall, upon submission of an application to the competent authority for authorisation in accordance with article 7 of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such undertaking intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such undertaking intends to carry on both long term business and general business, only the highest of the minimum application fees due by such undertaking in accordance with this sub-regulation shall apply.
(2)An undertaking whose head office is in Malta that has been authorised under the Act to carry on the business of insurance and, or reinsurance in or from Malta or, in or from a country outside Malta shall, subject to the provisions of sub-regulation
(4), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable: Provided further that where the competent authority issues a permit to an undertaking as referred to in this sub-regulation in accordance with article 39
(3)of the Act, the annual supervisory fee due by that undertaking in accordance with this sub-regulation following the date referred to in paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable.
(3)Notwithstanding the provisions of sub-regulation
(2), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulation shall be the aggregate of the following: (a) the minimum fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when an undertaking as referred to in sub-regulation
(2)is granted authorisation under the Act and the end of the calendar year in which such authorisation was granted; and (b) the minimum fee established in the Second Schedule, as applicable, prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with subregulation
(4).
(4)The first annual supervisory fee due in accordance with sub-regulation
(3)shall be paid to the competent authority on the date when an undertaking as referred to in sub-regulation
(2)is granted authorisation under the Act, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with sub-regulation
(2)shall be paid to the competent authority one
(1)month from the date of submission of the annual quantitative template as established by law.
(5)A third country insurance or reinsurance undertaking that intends to carry on the business of insurance and, or reinsurance in or from Malta shall, upon submission of an application to the competent authority for authorisation in accordance with article 7 of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such undertaking intends to 3 4 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such undertaking intends to carry on both long term business and general business, only the highest of the minimum application fees due by such undertaking in accordance with this sub-regulation shall apply.
(6)A third country insurance or reinsurance undertaking that has been authorised under the Act to carry on the business of insurance and, or reinsurance in or from Malta shall, subject to the provisions of sub-regulation
(8), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable: Provided further that where the competent authority issues a permit to an undertaking as referred to in this sub-regulation in accordance with article 39
(3)of the Act, the annual supervisory fee due by that undertaking in accordance with this sub-regulation following the date referred to in paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable.
(7)Notwithstanding the provisions of sub-regulation
(6), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulation shall be the aggregate of the following: (a) the minimum fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when an undertaking as referred to in sub-regulation
(6)is granted authorisation under the Act and the end of the calendar year in which such authorisation was granted; and (b) the minimum fee established in the Second Schedule, as applicable, prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with subregulation
(8).
(8)The first annual supervisory fee due in accordance with sub-regulation
(7)shall be paid to the competent authority on the date when an undertaking as referred to in sub-regulation
(6)is granted authorisation under the Act, and every annual supervisory fee INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 5 following the first annual supervisory fee which is due in accordance with sub-regulation
(6)shall be paid to the competent authority one
(1)month from the date of submission of the annual quantitative template as established by law. 4.
(1)An undertaking that intends to act as a captive insurance or reinsurance undertaking in accordance with the Insurance Business (Captive Insurance Undertaking and Captive Reinsurance Undertakings) Regulations shall, upon submission of an application to the competent authority for authorisation in accordance with article 7 of the Act, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Fees in relation to captive insurance and reinsurance undertakings. S.L. 403.11. Amended by: L.N. 303 of 2025. Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such undertaking intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such undertaking intends to carry on both long term business and general business, only the highest of the minimum application fees due by such undertaking in accordance with this sub-regulation shall apply.
(2)An undertaking that has been authorised under the Act to act as a captive insurance or reinsurance undertaking in accordance with the Insurance Business (Captive Insurance Undertaking and Captive Reinsurance Undertakings) Regulations shall, subject to the provisions of sub-regulation
(4), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: Provided that the first annual supervisory fee shall be prorated according to the period remaining between the date when an undertaking is granted authorisation under the Act to act as a captive insurance or reinsurance undertaking in accordance with the said regulations and the date when the next annual supervisory fee is due in accordance with sub-regulation
(3). Provided further that where the competent authority issues a permit to an undertaking as referred to in this sub-regulation in accordance with article 39
(3)of the Act, the annual supervisory fee due by that undertaking in accordance with this sub-regulation following the date referred to in paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable. S.L. 403.11. 6 [ S.L. 403.26 S.L. 403.11. INSURANCE BUSINESS ACT (FEES)
(3)The first annual supervisory fee due in accordance with sub-regulation
(2)shall be paid to the competent authority on the date when an undertaking is granted authorisation under the Act to act as a captive insurance or reinsurance undertaking in accordance with the Insurance Business (Captive Insurance Undertaking and Captive Reinsurance Undertakings) Regulations, and every annual supervisory fee following the first annual supervisory fee shall be paid to the competent authority on the 31st January of each calendar year.
(4)Fees in relation to cell companies carrying on the business of insurance and, or reinsurance. S.L. 386.10. Amended by: L.N. 303 of 2025. Repealed by Legal Notice 303 of 2025. 5.
(1)A company that is to be formed or constituted as a cell company to carry on the business of insurance and, or reinsurance shall, upon submission of an application to the competent authority for approval in accordance with regulation 6 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such company intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such company intends to carry on both long term business and general business, only the highest of the minimum application fees due by such company in accordance with this sub-regulation shall apply. S.L. 386.10.
(2)A company authorised under the Act to carry on the business of insurance and, or reinsurance that is to be converted into a cell company shall, upon submission of an application to the competent authority for approval in accordance with regulation 6 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such company intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 Provided further that where such company intends to carry on both long term business and general business, only the highest of the minimum application fees due by that company in accordance with this sub-regulation shall apply.
(3)A cell company approved in accordance with regulation 5 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations that intends to create a new cell shall, upon submission of an application to the competent authority for approval in accordance with regulation 6 of the said regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: S.L. 386.10. Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such cell would be carrying on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such cell intends to carry on both long term business and general business, only the highest of the minimum application fees due by such cell in accordance with this sub-regulation shall apply.
(4)A cell company approved in accordance with regulation 5 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations shall, subject to the provisions of sub-regulation
(7), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: S.L. 386.10. Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable: Provided further that where the competent authority issues a permit to a cell company as referred to in this sub-regulation in accordance with article 39
(3)of the Act, the annual supervisory fee due by that cell company in accordance with this sub-regulation following the date referred to in paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable.
(5)Without prejudice to the provisions of sub-regulation
(4), a cell company as referred to in the said sub-regulation that has been granted approval to create one
(1)or more cells in accordance with the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations shall, subject to the provisions of subregulation
(7), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable, with respect S.L. 386.10. 7 8 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) to every such cell: Provided further that such annual supervisory fee shall vary depending on whether such cell carries on exclusively the business of affiliated insurance.
(6)Notwithstanding the provisions of sub-regulations
(4)and
(5), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulations shall be the aggregate of the following: S.L. 386.10. (
- a)the minimum fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when a cell company is granted approval in accordance with the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations and the end of the calendar year in which such approval was granted; and (
- b)the minimum fee established in the Second Schedule, as applicable, prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with subregulation
(7): S.L. 386.10. Provided that were a cell as referred to in subregulation
(5)carries on exclusively the business of affiliated insurance, the first annual supervisory fee due in accordance with the said sub-regulation shall be prorated according to the period remaining between the date when a cell company has been granted approval to create that cell in accordance with the Companies Act (Cell Companies Carrying on the Business of Insurance) Regulations and the date when the next annual supervisory fee is due in accordance with sub-regulation
(7). S.L. 386.10.
(7)The first annual supervisory fee due in accordance with sub-regulation
(6)shall be paid to the competent authority on the date when the cell company is granted approval in accordance with the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with subregulations
(4)and
(5)shall be paid to the competent authority one
(1)month from the date of submission of the annual quantitative template as established by law: INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 9 Provided that were a cell as referred to in sub-regulation
(5)carries on exclusively the business of affiliated insurance, the first annual supervisory fee due in accordance with sub-regulation
(6)shall be paid to the competent authority on the date when a cell company has been granted approval to create such cell in accordance with the Companies Act (Cell Companies Carrying on the Business of Insurance) Regulations, and every annual supervisory fee following the first annual supervisory fee shall be paid to the competent authority on the 31st January of each calendar year. S.L. 386.10. 6.
(1)A company that is to be formed or constituted as an incorporated cell company to carry on the business of insurance and, or reinsurance shall, upon submission of an application to the competent authority for approval in accordance with regulation 6 of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Fees in relation to incorporated cell companies carrying on the business of insurance and, or reinsurance. S.L. 386.10. Amended by: L.N. 303 of 2025. Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such company intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business:
(2)A company that intends to transform in accordance with any of the provisions of regulation 22
(1)of the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations shall, upon submission of an application to the competent authority for approval in accordance with regulation 22
(4)of the said Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: S.L. 386.13. Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term businessor the general business which such company intends to carry on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such company intends to carry on both long term business and general business, only the highest of the minimum application fees due by such company in accordance with this sub-regulation shall apply.
(3)An incorporated cell company that has been granted approval in accordance with the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations that S.L. 386.13. 10 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) intends to create a new incorporated cell shall, upon submission of an application to the competent authority for approval as required in accordance with the said regulation, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application: Provided that, in any case, the application fee due in accordance with this sub-regulation with respect to the long term business or the general business which such incorporated cell would be carrying on shall not be less than the minimum application fee established in the First Schedule, as applicable, with respect to each such type of business: Provided further that where such incorporated cell intends to carry on both long term business and general business, only the highest of the minimum application fees due by such cell in accordance with this sub-regulation shall apply. S.L. 386.13.
(4)A company that has been granted approval in accordance with the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations shall, subject to the provisions of sub-regulation
(7), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable: Provided further that where the competent authority issues a permit to a company as referred to in this sub-regulation in accordance with article 39
(3)of the Act, the annual supervisory fee due by that company in accordance with this sub-regulation following the date referred to in paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable. S.L. 386.13.
(5)Without prejudice to sub-regulation
(4), an incorporated cell company as referred to in sub-regulation
(3)that has been granted approval to create one
(1)or more incorporated cells in accordance with the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations shall, subject to the provisions of sub-regulation
(7), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable, with respect to every such cell: Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable: INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 11 Provided further that where the competent authority issues a permit to an incorporated cell company as referred to in this sub-regulation with respect to an incorporated cell in accordance with article 39
(3)of the Act, the annual supervisory fee due by that incorporated cell company with respect to such incorporated cell in accordance with this sub-regulation following the date referred to in the provisions of paragraph (a) of the said article shall be the minimum annual supervisory fee established in the Second Schedule, as applicable.
(6)Notwithstanding the provisions of sub-regulations
(4)and
(5), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulations shall be the aggregate of the following: (
- a)the minimum fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when a company is granted approval in accordance with the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations and the end of the calendar year in which such approval was granted; and S.L. 386.13. (
- b)the minimum fee established in the Second Schedule, as applicable, prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with the provisions of sub-regulation
(7).
(7)The first annual supervisory fee due in accordance with sub-regulation
(6)shall be paid to the competent authority on the date when the company is granted approval in accordance with the Companies Act (Incorporated Cell Companies Carrying on Business of Insurance) Regulations, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with sub-regulations
(4)and
(5)shall be paid to the competent authority one
(1)month from the date of submission of the annual quantitative template as established by law. S.L. 386.13. 7.
(1)Where an undertaking, a company or a cell as referred to in regulations 3, 4, 5 or 6 that is authorised to carry on one
(1)or more classes of long term and, or general business falling under the business of insurance and, or reinsurance intends to: Fee in relation to additional classes of the business of insurance and, or reinsurance. Substituted by: L.N. 303 of 2025. (a) carry on one
(1)or more of the same classes of long term and, or general business falling under a different type of business, be it the business of insurance or reinsurance; and, or (b) carry on one
(1)or more additional classes of long 12 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) term and, or general business, be they falling under the business of insurance and, or reinsurance; it shall, upon submission of an application to the competent authority to modify its authorisation accordingly, pay to the competent authority the application fee established in the said regulations, as applicable, which application fee shall be reduced by twenty-five percent (25%): Provided that in any such case, the minimum application fees established in the First Schedule shall not apply. Fees in relation to approved auditors. S.L. 403.09. S.L. 403.09.
(2)Where an undertaking, a company or a cell as referred to in regulations 3, 4, 5 or 6 that is authorised to carry on one
(1)or more classes of long term and, or general business falling under the business of insurance and, or reinsurance intends to cease to carry on one
(1)or more, but not all, such classes under the business of insurance or reinsurance or, where applicable, under both such businesses, it shall upon the submission of a request to the competent authority to modify its authorisation accordingly, pay to the competent authority a modification fee of one thousand euro (€1,000). 8.
(1)A person that intends to act as an approved auditor in accordance with the Insurance Business (Approved Auditor) Regulations shall, upon submission of an application to the competent authority for authorisation in accordance with regulation 5 of the said regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.
(2)A person that has been authorised under the Act to act as an approved auditor in accordance with the Insurance Business (Approved Auditor) Regulations shall, subject to the provisions of sub-regulation
(3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: Provided that the first annual supervisory fee shall be prorated according to the period remaining between the date when an approved auditor is granted authorisation in accordance with the said regulations and the date when the next annual supervisory fee is due in accordance with sub-regulation
(3). S.L. 403.09.
(3)The first annual supervisory fee due in accordance with sub-regulation
(2)shall be paid to the competent authority on the date when an approved auditor is granted authorisation in accordance with the Insurance Business (Approved Auditor) Regulations, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with the said sub-regulation shall be paid to the competent authority on the 31st January of each calendar year. Fees in relation to the establishment of a branch. 9.
(1)An undertaking granted authorisation under article 7 of the Act that intends to establish a branch in Malta in INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26 13 accordance with article 10
(2)of the said Act shall, upon submission of an application to the competent authority for approval, pay the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application.
(2)An undertaking authorised under the Act that has been granted approval to establish a branch in Malta in accordance with article 10
(2)of the said Act shall, subject to the provisions of subregulation
(3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable, with respect to every branch so established: Provided that the first annual supervisory fee shall be prorated according to the period remaining between the date when the undertaking is granted approval in accordance with the Act to establish a branch in Malta and the date when the next annual supervisory fee is due in accordance with sub-regulation
(3).
(3)The first annual supervisory fee due in accordance with sub-regulation
(2)shall be paid to the competent authority on the date when the undertaking is granted approval in accordance with the Act to establish a branch in Malta, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with the said sub-regulation shall be paid to the competent authority on the 31st January of each calendar year. 10.
(1)An undertaking whose head office is in Malta that intends to act as a reinsurance special purpose vehicle in or from Malta in accordance with the Reinsurance Special Purpose Vehicles Regulations shall, upon submission of an application to the competent authority for authorisation in accordance with regulation 8 of the said Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application. Fees in relation to reinsurance special purpose vehicles. S.L. 403.19.
(2)Where an undertaking authorised to act as a reinsurance special purpose vehicle in accordance with the Reinsurance Special Purpose Vehicles Regulations intends to assume additional risk it shall, upon submission of an application to the competent authority for approval in accordance with the provisions of regulation 8
(2)of the said Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application. S.L. 403.19.
(3)An undertaking authorised to act as a reinsurance special purpose vehicle in accordance with the Reinsurance Special Purpose Vehicles Regulations shall, subject to the provisions of subregulation
(4), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: S.L. 403.
- 14 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) S.L. 403.
- Provided that the first annual supervisory fee shall be prorated according to the period remaining between the date when the undertaking is granted authorisation in accordance with the Reinsurance Special Purpose Vehicles Regulations and the date when the next annual supervisory fee is due in accordance with subregulation
(4). S.L. 403.19.
(4)The first annual supervisory fee due in accordance with sub-regulation
(3)shall be paid to the competent authority on the date when the undertaking is granted authorisation in accordance with the Re-Insurance Special Purpose Vehicles Regulations, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with the said sub-regulation shall be paid to the competent authority on the 31st January of each calendar year. Fees in relation to securitisation cell companies carrying on business as reinsurance special purpose vehicles. S.L. 386.16. 11.
(1)A securitisation cell company that intends to carry on business as a reinsurance special purpose vehicle in or from Malta in accordance with the Securitisation Cell Companies Regulations shall, upon submission of an application to the competent authority for authorisation, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application. S.L. 403.19. S.L. 386.16.
(2)Where a securitisation cell company authorised to carry on business as a reinsurance special purpose vehicle in accordance with the Reinsurance Special Purpose Vehicles Regulations intends to create a cell it shall, upon submission of an application to the competent authority for approval in accordance with regulation 33 of the Securitisation Cell Companies Regulations, pay to the competent authority an application fee as established in the First Schedule, as applicable, with respect to such application. S.L. 403.19.
(3)A securitisation cell company that has been authorised to carry on business as a reinsurance special purpose vehicle in accordance with the Reinsurance Special Purpose Vehicles Regulations shall, subject to the provisions of sub-regulation
(6), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable. S.L. 386.16.
(4)Without prejudice to the provisions of sub-regulation
(3), a securitisation cell company as referred in the said subregulation that has created one
(1)or more cells in accordance with the Securitisation Cell Companies Regulations shall, subject to the provisions of sub-regulation
(6), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable, with respect to every such cell. INSURANCE BUSINESS ACT (FEES) [ S.L. 403.26
(5)Notwithstanding the provisions of sub-regulations
(3)and
(4), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulations shall be prorated according to the period remaining between the date when the securitisation cell company is granted authorisation in accordance with the Reinsurance Special Purpose Vehicles Regulations or approval in accordance with the Securitisation Cell Companies Regulations, as applicable, and the date when the next annual supervisory fee is due in accordance with the provisions of subregulation
(6). S.L. 403.1.9 S.L. 386.16.
(6)The first annual supervisory fee due in accordance with sub-regulation
(5)shall be paid to the competent authority on the date when the securitisation cell company is granted authorisation in accordance with the Reinsurance Special Purpose Vehicles Regulations or approval in accordance with the Securitisation Cell Companies Regulations, as applicable, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with sub-regulations
(3)and
(4)shall be paid to the competent authority on the 31st January of each calendar year. S.L. 403.19. S.L. 386.16. 12.
(1)A European insurance undertaking that intends to establish a branch in Malta in accordance with regulation 3 of the European Passport Rights for Insurance and Reinsurance Undertakings Regulations shall, upon being notified by the European regulatory authority of its home Member State in accordance with Article 146
(1)of the Solvency II Directive as transposed in national law, pay the competent authority a notification fee of one thousand euro (€1,000). Fees due by European insurance undertakings. S.L. 403.14.
(2)A European insurance undertaking that has established a branch in Malta in accordance with regulation 3 of the European Passport Rights for Insurance and Reinsurance Undertakings Regulations shall, subject to the provisions of sub-regulation
(4), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable: S.L. 403.14. Provided that, in any case, the annual supervisory fee shall not be less than the minimum annual supervisory fee established in the Second Schedule, as applicable.
(3)Notwithstanding the provisions of sub-regulation
(2), the first annual supervisory fee due to the competent authority in accordance with the said sub-regulation shall be the aggregate of the following: 15 16 [ S.L. 403.26 S.L. 403.14. INSURANCE BUSINESS ACT (FEES) (a) the minimum fee established in the Second Schedule, as applicable, prorated according to the period remaining between the date when the branch of such European insurance undertaking is established in Malta and may commence business in accordance with the regulation 3
(4)of the European Passport Rights for Insurance and Reinsurance Undertakings Regulations, and the end of the calendar year in which such branch was established; and (b) the minimum fee established in the Second Schedule, as applicable, prorated according to the period between the start of the following calendar year and the date when the next supervisory fee is due in accordance with subregulation
(4). S.L. 403.14.
(4)The first annual supervisory fee due in accordance with sub-regulation
(3)shall be paid to the competent authority on the date when the branch of the European insurance undertaking is established in Malta and may commence business in accordance with regulation 3
(4)of the European Passport Rights for Insurance and Reinsurance Undertakings Regulations, and every annual supervisory fee following the first annual supervisory fee which is due in accordance with sub-regulation
(2)shall be paid to the competent authority on the 30th June of each calendar year. Fees in relation to the transfer of the business of insurance. 13.
(1)An authorised insurance undertaking that intends to transfer its general business in accordance with article 33 of the Act shall, upon submission of an application to the competent authority for approval in accordance with the said article, pay to the competent authority an application fee of zero point zero two per cent (0.02%) of its gross premium or technical provisions for the last financial year, whichever is the highest: Provided that, in any case, the application fee shall not be less than the minimum application fee established in the First Schedule, as applicable.
(2)An insurance or reinsurance undertaking whose head office is in a country outside Malta that intends to transfer, in whole or in part, its general business or long term business to an undertaking authorised under the Act in accordance with article 37A of the Act shall, upon submission of a notification to the competent authority in accordance with the said article, pay to the competent authority an application fee as established in the First Schedule, as applicable. Non-refundable or prorated fees. 14.
(1)The fees established and due in terms of these regulations shall not be refundable.
(2)Without prejudice to the provisions of regulations 3
(3)[ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) 17 and
(7), 4
(3), 5
(6), 6
(6), 8
(2), 9
(2), 10
(3)and 11
(5), the fees established and due in terms of these regulations shall not be prorated. Amended by: L.N. 303 of 2025. FIRST SCHEDULE (regulations 3 to 13) Application Fee Fees falling due in 2025 € Minimum fee: Undertaking whose head office is in Malta carrying on the business of insurance and, or reinsurance: (
- a)long term business 1,600 per class (
- b)general business 1,000 per class Third country insurance or reinsurance undertaking carrying on the business of insurance and, or reinsurance: (
- a)long term business 800 per class (
- b)general business 500 per class Captive insurance or reinsurance undertaking: (
- a)long term business 800 per class (
- b)general business 500 per class Cell company carrying on the business of insurance and, or reinsurance: Fees falling due in 2026 € Minimum fee: Fees falling due in 2027 and thereafter € Minimum fee: 15,000 1,800 per class 17,000 2,000 per class 20,000 10,000 1,200 per class 12,000 1,500 per class 15,000 Minimum fee: 8,000 7,000 Minimum fee: 900 per class 600 per class Minimum fee: 8,000 7,000 Minimum fee: 9,000 8,000 Minimum fee: 1000 per class 750 per class Minimum fee: 900 per class 600 per class 9,000 8,000 Minimum fee: 10,000 9,000 Minimum fee: 1,000 per class 750 per class 10,000 9,000 Minimum fee: 18 [ S.L. 403.26 (
- a)formation of or conversion into a cell company (
- i)long term business (
- ii)general business (
- b)creation of a cell (
- i)long term business (
- ii)general business Incorporated cell company carrying on the business of insurance and, or reinsurance: (
- a)formation of an incorporated cell company (
- i)long term business (
- ii)general business (
- b)creation of an incorporated cell (
- i)long term business (
- ii)general business (
- c)transformation from or to an incorporate cell company (
- i)long term business (
- ii)general business INSURANCE BUSINESS ACT (FEES) 1,600 per class 1,000 per class 15,000 1,800 per class 17,000 2,000 per class 20,000 10,000 1,200 per class 12,000 1,500 per class 15,000 800 per class 500 per class 5,000 900 per class 700 per class 7,500 1,000 per class 900 per class 10,000 4,000 6,500 Minimum fee: Minimum fee: 9,000 Minimum fee: 1,600 per class 1,000 per class 15,000 1,800 per class 17,000 2,000 per class 20,000 10,000 1,200 per class 12,000 1,500 per class 15,000 800 per class 500 per class 5,000 900 per class 700 per class 7,500 1,000 per class 900 per class 10,000 1,600 per class 1,000 per class 15,000 1,800 per class 17,000 2,000 per class 20,000 10,000 1,200 per class 12,000 1,500 per class 15,000 4,000 6,500 9,000 Approved auditor: (
- a)individual (
- b)audit firm 400 2,000 450 500 4,500 6,000 [ S.L. 403.26 INSURANCE BUSINESS ACT (FEES) Establishment of a branch Reinsurance special purpose vehicle Additional risk Securitisation cell company: (
- a)carrying on business as a reinsurance special purpose vehicle (
- b)creation of a cell Transfer of general business Transfer of general or long term business by an insurance or reinsurance undertaking whose head office is in a country outside Malta Amended by: L.N. 303 of 2025. 19 700 900 1,400 2,500 2,500 2,500 2,500 per contract 2,500 per contract 2,500 per contract 2,500 2,500 2,500 2,500 Minimum fee: 5,000 7,000 2,500 Minimum fee: 7,000 9,000 2,500 Minimum fee: 10,000 12,000 SECOND SCHEDULE (regulations 3 to 12) Annual Supervisory Fee Reinsurance special purpose vehicle (
- a)Securitisation cell company (
- b)Securitisation cell Approved auditor: (
- a)individual (
- b)audit firm Branch Captive insurance and reinsurance undertakings Fees falling due in 2025 (€) 8,000 Fees falling due in 2026 (€) 8,000 Fees falling due in 2027 and thereafter (€) 8,000 6,000 6,000 6,000 3,500 3,500 3,500 400 2,000 700 500 4,500 1,000 600 6,000 1,400 9,000 10,500 12,000 20 [ S.L. 403.26 Cells of cell companies carrying on exclusively the business of affiliated insurance Undertakings whose head office is in Malta carrying on the business of insurance Third country insurance or reinsurance undertakings carrying on the business of insurance Cell companies and cells Incorporated cell companies and cells Minimum fee: Gross Premium: Up to and including 1 million Over €1 million up to and including €2.5 million Over €2.5 million up to and including €3.5 million Over €3.5 million up to and including €5 million Over €5 million up to and including €7.5 million Over €7.5 million up to and including €12 million Over €12 million up to and including €25 million Over €25 million up to and including €35 million Over €35 million up to and including €50 million Over €50 million up to and including €70 million Over €70 million up to and including €100 million Over €100 million up to and including €150 million Over €150 million INSURANCE BUSINESS ACT (FEES) 6,000 7,500 Fees Fees falling due in 2025 falling due in 2026 (€) (€) 9,000 Fees falling due in 2027 and thereafter (€) €4,500 €6,000 €7,500 €4,500 €6,000 €7,500 €9,000 €10,500 €12,000 €10,500 €12,500 €14,500 €12,500 €14,500 €16,500 €17,000 €20,000 €23,000 €22,000 €26,000 €30,000 €25,000 €30,000 €35,500 €32,000 €38,000 €44,000 €35,000 €41,000 €47,000 €45,000 €50,000 €55,000 €47,000 €51,500 €59,000 €52,000 €60,500 €61,000 €71,000 €70,000 €81,500 INSURANCE BUSINESS ACT (FEES) European Insurance Undertakings Minimum fee: Gross Premium: Up to and including €2.5 million Over €2.5 million up to and including €3.5 million Over €3.5 million up to and including €5 Over €5 million up to and including €7.5 million Over €7.5 million up to and including €12 million Over €12 million up to and including €25 million Over €25 million [ S.L. 403.26 21 Fees falling due in 2025 (€) €7,000 Fees falling due in 2026 (€) €8,000 Fees falling due in 2027 and thereafter (€) €8,500 €7,000 €8,000 €8,500 €8,000 €9,000 €9,500 €9,500 €10,500 €11,500 €12,500 €13,500 €14,500 €14,000 €15,000 €16,000 €18,000 €26,000 €19,000 €27,000 €24,000 €28,000