Maltese insurers have a mountain to climb to comply with Solvency II reporting requirements by the January 2016 deadline, according to a survey of Maltese firms conducted by consultancy PKF Malta.
Forty-eight per cent of surveyed firms – including primary insurers, reinsurers, affiliated insurance companies and protected cell companies (PCCs) – said Pillar 3 reporting and disclosure provisions would be "the most challenging" aspect of the regulation to implement.
A PCC is a legal entity
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