Set up a protected cell with the first PCC in Malta

Call us on +356 2343 5221 to find out how Atlas PCC can benefit your business

Assessment

After an initial exchange to understand the context of the enquiry and whether there are any material aspects that make such a proposal fall outside of the PCC’s own risk appetite or put into some doubt the cell’s feasibility, the client will get some indications on cost & other requirements and would then need to formally engage the PCC to assess the proposal in more detail.

During this process the additional information is analysed,and this would also cover a significant portion of the groundwork necessary for the potential cell set-up phase, including preparation of detailed financial projections and estimation of regulatory capital requirements.

Application and Setup

Before creation, each cell goes through the Malta Financial Services Authority application process, including the submission of a three- year business plan. Once granted a license, the cell will be subject to individual regulation and supervision and must maintain a solvency margin just like a separate insurance company. It is not however required to maintain the minimum guarantee fund.

Fee Structure

Fees typically consist of :

  • a minimum fee for providing the PCC facility,
  • a fee covering the work involved in the administration of the cell and
  • potentially a risk premium based on the type of business and relevant risk exposure
  • David Mifsud
    FCII Chartered Insurer
    Chief Underwriting Officer

    (+356) 2343 5306 or email david.mifsud@atlas.com.mt

    Ian-Edward Stafrace
    MSc (Risk Mgmt) FCII CFIRM PIOR
    Chartered Insurance Risk Manager
    Chief Strategy Officer

    (+356) 2343 5255 or email ian.stafrace@atlas.com.mt