MT
INSURANCE DISTRIBUTION ACT (FEES) REGULATIONS
Table of Provisions (14)
Statutory Text (14 Articles)
SUBSIDIARY LEGISLATION 487.09
INSURANCE DISTRIBUTION ACT (FEES)
REGULATIONS
1st January, 2025
LEGAL NOTICE 369 of 2024, as amended by Legal Notice 63 of
2025.
(1)
The title of these regulations is the Insurance
Distribution Act (Fees) Regulations.
(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 said date.
(regulations 3, 5 and 6)
Application Fee
Fees falling
Fees falling
Fees falling
Fees falling
Fees falling
due in 2025
due in 2026
due in 2027
due in 2028
due in 2029
(€)
(€)
(€)
(€)
and thereafter
(€)
natural persons in
Brokers Register
companies, in the
Managers List or
5,000
7,500
10,000
10,000
10,000
INSURANCE DISTRIBUTION ACT (FEES)
Enrolment of cell
companies in the
Managers List or
the Brokers List
(a) cell company
4,000
6,000
8,000
8,000
8,000
(b) cell
2,000
2,500
3,000
3,000
3,000
Establishment of
a branch
1,400
1,400
1,400
Enrolment in the
Tied Insurance
Intermediaries
List
(a) natural person
1,000
1,000
1,000
(b) legal person
(i) fixed
application fee
1,000
1,000
1,000
(ii) variable
application fee
1,000
1,000
1,000
Enrolment in the
Ancillary
Insurance
Intermediaries
List
(a) natural person
(b) legal person
(i) fixed
application fee
1,000
1,000
1,000
(ii) variable
application fee
1,000
1,000
1,000
Ancillary Fees
Fees falling
Fees falling
Fees falling
Fees falling
Fees falling
due in 2025
due in 2026
due in 2027
due in 2028
due in 2029
(€)
(€)
(€)
(€)
and thereafter
(€)
New appointment
(a) Persons
enrolled in the
Agents List
1,000
1,500
1,500
1,500
(b) Persons
enrolled in the
Managers List
1,100
1,100
1,100
Underwriting
agreement
Application
Registration
INSURANCE DISTRIBUTION ACT (FEES)
Name restoration
(a) in the Agents
Registers, the
Managers Register
or the Brokers
Register
1,000
1,000
1,000
(b) in the Agents
List, the Managers
List or the Brokers
List
2,000
2,500
4,000
4,000
4,000
(1)
In these regulations, unless the context
otherwise requires
"Act" means the Insurance Distribution Act;
"cell" shall have the same meaning as assigned to it in
the Companies Act (Cell Companies Carrying on Business of
Insurance) Regulations;
"cell company" shall have the same meaning as assigned
to it in the Companies Act (Cell Companies Carrying on
Business of Insurance) Regulations;
"European intermediary" shall have the same meaning
as assigned to it in the European Passport Rights for
Intermediaries Regulations;
"European regulatory authority" shall have the same
meaning as assigned to it in the European Passport Rights for
Intermediaries Regulations;
"gross commission" means
(a)
in the case of a person that resides in
Malta or has its registered office or head office in Malta
and is enrolled in the Agents List or Brokers List, the
gross amount of commissions receivable in respect of
their aggregate insurance distribution activities and, or
reinsurance distribution activities, as applicable, as
noted in the insurance intermediaries statement
submitted to the competent authority for the preceding
year;
(b)
in the case of a foreign company
enrolled in the Agents List or Brokers List, the gross
amount of commissions receivable in respect of its
aggregate insurance distribution activities and, or
reinsurance distribution activities, as applicable, carried
on in or from Malta, as noted in the insurance
intermediaries statement submitted to the competent
authority for the preceding year; and
(c)
in the case of a cell created by a cell
company that is enrolled in the Brokers List, the gross
amount of commissions receivable in respect of its
aggregate insurance distribution activities and, or
reinsurance distribution activities, as applicable, carried
on in or from Malta, as noted in the insurance
intermediaries statement submitted by the said cell
company to the competent authority for the preceding
year;
"home Member State" shall have the same meaning as
assigned to it in the European Passport Rights for
Intermediaries Regulations.
(2) Words and expressions used in these regulations which
are also used in the Act or the Companies Act, but which are not
herein defined, shall have the same meaning as in the respective Acts,
as applicable.
(regulations 4, 7 and 8)
Annual Supervisory Fee
Fees falling
Fees falling
Fees falling
Fees falling
Fees falling
due in 2025
due in 2026
due in 2027
due in 2028
due in 2029
(€)
(€)
(€)
(€)
and thereafter
(€)
Natural persons
registered in the
Agents Register,
the Managers
Register or the
Brokers Register
Persons enrolled
in the Managers
List
(a) person other
than a cell
company
(i) fixed
supervisory fee
(ii) variable
supervisory fee
1,000
1,200
1,400
1,500
(b) cell company
(i) fixed
supervisory fee
2,200
2,400
2,600
2,800
3,000
(ii) variable
supervisory fee
1,000
1,200
1,400
1,500
(c) cell
1,800
2,000
2,200
2,400
2,500
Branch of a local
company
1,400
1,400
1,400
Persons enrolled
in the Tied
Insurance
Intermediaries
List
(a) natural person
INSURANCE DISTRIBUTION ACT (FEES)
(i) long term
business or general
business
(ii) long-term and
general business
(b) legal person
(i) long term
business or general
business
- fixed supervisory
fee
- variable
supervisory fee
(ii) long-term and
general business
- fixed supervisory
fee
- variable
supervisory fee
Persons enrolled
in the Ancillary
Insurance
Intermediaries
List
(a) natural person
(b) legal person
(i) fixed fee
(ii) variable fee
European
intermediary
1,000
1,000
1,000
Fees falling
Fees falling
Fees falling
Fees falling
Fees falling
due in 2025
due in 2026
due in 2027
due in 2028
due in 2029
(€)
(€)
(€)
(€)
and thereafter
(€)
Persons and cells
enrolled in the
Agents List or the
Brokers List
Minimum fee
3,000
3,500
4,000
4,500
5,000
Gross
commission
Up to €250,000
3,000
3,500
4,000
4,500
5,000
INSURANCE DISTRIBUTION ACT (FEES)
Over €250,000 up
to €750,000
4,000
5,000
6,000
6,500
7,000
Over €750,000
up to €1 million
5,000
6,000
7,000
7,500
8,000
Over €1 million
9,000
11,000
13,000
15,000
17,000
(1)
A natural person who intends to act as an
intermediary and carry out, or attempt to carry out, insurance and, or
reinsurance distribution activities in or from Malta shall, upon
submission of an application to the competent authority for
registration in accordance with article 13 of the Act, 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 intends to act as an intermediary and carry
out, or attempt to carry out, insurance and, or reinsurance distribution
activities in or from Malta shall, upon submission of an application to
the competent authority for enrolment in accordance with article 13
of the Act, pay to the competent authority an application fee as
established in the First Schedule, as applicable, with respect to such
application.
(3) Without prejudice to the provisions of sub-regulation
(2), a company that is to be formed or constituted as, or converted
into a cell company in accordance with regulation 6 of the Companies
Act (Cell Companies Carrying on Business of Insurance) Regulations
and enrolled in the Managers List or the Brokers List in accordance
with article 13 of the Act shall, upon submission of an application to
the competent authority for approval and enrolment, pay to the
competent authority an application fee as established in the First
Schedule, as applicable, with respect to such application.
(4) A cell company enrolled in the Managers List or the
Brokers List under article 13 of the Act that intends to create a new
cell in accordance with regulation 8 of the Companies Act (Cell
Companies Carrying on Business of Insurance) Regulations shall,
upon submission of an application to the competent authority for
approval, pay to the competent authority an application fee as
established in the First Schedule, as applicable, with respect to
every such cell.
(5) A local company enrolled under article 13 of the Act
that intends to establish a branch in Malta in accordance with article
11(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 every such branch.
(1)
A natural person registered under article 13 of
the Act shall, subject to the provisions of sub-regulation (2), pay to
the competent authority an annual supervisory fee as established in
the Second Schedule, as applicable
Provided that the first annual supervisory fee due in
accordance with this sub-regulation shall be prorated according to the
period remaining between the date when a natural person is registered
under article 13 of the Act and the date when the next annual
supervisory fee is due in accordance with sub-regulation (2).
(2) The first annual supervisory fee due in accordance with
sub-regulation (1) shall be paid to the competent authority on the date
when a natural person is registered under article 13 of the Act, and
every annual supervisory fee following the first 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.
(3) A person enrolled in the Agents List or the Brokers List
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
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.
(4) Without prejudice to the provisions of sub-regulation
(3), a cell company that has been enrolled in the Brokers List 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
Provided that where such a cell company has created
one (1) or more cells in accordance with regulation 8 of the
Companies Act (Cell Companies Carrying on Business of Insurance)
Regulations, it shall also pay to the competent authority an annual
supervisory fee as established in the Second Schedule, as applicable,
with respect to every such cell
Provided further 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.
(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 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 person or a cell as referred
to in sub-regulation (3) or (4), as applicable, is enrolled under
article 13 of the Act or created in accordance with regulation
8 of the Companies Act (Cell Companies Carrying on
Business of Insurance) Regulations, as applicable, and the end
of the calendar year in which such enrolment or creation took
place; 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 sub-
regulation (6).
(6) The first annual supervisory fee due in accordance with
sub-regulation (5) shall be paid to the competent authority on the date
when a person or a cell as referred to in sub-regulation (3) or (4), as
applicable, is enrolled under article 13 of the Act or created in
accordance with regulation 8 of the Companies Act (Cell Companies
Carrying on Business of Insurance) Regulations, as applicable, and
every annual supervisory fee following the first annual supervisory
fee which is due in accordance with sub-regulation (3) or (4), as
applicable, shall be paid to the competent authority one (1) month
from the date of submission of the insurance intermediaries
statements as established by law.
(7) Any person, including a cell company, enrolled in the
Managers List shall, subject to the provisions of sub-regulation (9),
pay to the competent authority an annual supervisory fee which shall
be the aggregate of the following
(a)
the fixed supervisory fee established in the
Second Schedule, as applicable; and
(b)
the variable supervisory fee established in the
Second Schedule, as applicable, with respect to every
appointment taken on by such person
Provided that where such a cell company as referred to
in this sub-regulation has created one (1) or more cells in accordance
with regulation 8 of the Companies Act (Cell Companies Carrying on
Business of Insurance) Regulations, it shall also pay to the competent
authority an annual supervisory fee as established in the Second
Schedule, as applicable, with respect to every such cell.
(8) Notwithstanding the provisions of sub-regulation (7),
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 person or a cell as referred to in the said sub-
regulation is enrolled under article 13 of the Act or created in
accordance with regulation 8 of the Companies Act (Cell Companies
Carrying on Business of Insurance) Regulations, as applicable, and
the date when the next annual supervisory fee is due in accordance
with sub-regulation (9).
(9) The first annual supervisory fee due in accordance with
sub-regulation (8) shall be paid to the competent authority on the date
when a person or a cell as referred to in sub-regulation (7) is enrolled
under article 13 of the Act or created in accordance with regulation 8
of the Companies Act (Cell Companies Carrying on Business of
Insurance) Regulations, as applicable, and every annual supervisory
fee following the first supervisory fee which is due in accordance
with the provisions of sub-regulation (7) shall be paid to the
competent authority on the 31st January of each calendar year.
(10) A local company enrolled under article 13 of the Act
that has established a branch in Malta in accordance with article 11 of
the said Act shall, subject to the provisions of sub-regulation (11),
pay to the competent authority an annual supervisory fee as
established in the Second Schedule, as applicable, with respect to
every such branch.
(11) The annual supervisory fee due in accordance with he
provisions of sub-regulation (10) shall be paid to the competent
authority on the date when a person is granted approval in accordance
with article 11 of the Act to establish a branch in Malta and annually
thereafter on the date when such approval was granted.
(1)
Any person enrolled in the Agents List or the
Managers List under article 13 of the Act that intends to take on a
new appointment with an insurer, reinsurer or an insurance broker, as
applicable, shall, upon submission of an application to the competent
authority to modify its enrolment accordingly, pay the competent
authority an application fee as established in the First Schedule, as
applicable, with respect to such application.
(2) Where a person as referred to in sub-regulation (1),
that has been appointed by an insurer, reinsurer or an insurance
broker to carry on any one (1) or more classes under the business of
insurance and, or reinsurance, intends to carry on any one (1) or
more additional classes under the business of insurance and, or
reinsurance on behalf of the same insurer, reinsurer or an insurance,
as applicable, the said person shall, upon submission of an
application to the competent authority to modify its enrolment
accordingly, pay to the competent authority the application fee
established in sub-regulation (1), as applicable, which application
fee shall be reduced by twenty-five per cent (25%).
(3) Where a person as referred to in sub-regulation (1),
that has been appointed by an insurer, reinsurer or an insurance
broker to carry on any one (1) or more classes under the business of
insurance and, or reinsurance, intends to stop carrying on any one
(1) or more such classes under the business of insurance and, or
reinsurance on behalf of the same insurer, reinsurer or an insurance,
as applicable, the said person shall, upon submission of an
application to the competent authority to modify its enrolment
accordingly, pay to the competent authority a modification fee of
one thousand euro (€1,000).
(4) Any person enrolled in the Brokers List under article 13
of the Act that intends to make or enter into an underwriting
agreement in accordance with article 32 of the Act shall, upon
submission of an application to the competent authority for
registration, pay the competent authority an application fee as
established in the First Schedule, as applicable, with respect to such
application.
(5) A person as referred to in sub-regulation (4) that has
made or entered into an underwriting agreement in accordance with
the provisions of article 32 of the Act, which agreement provides that
it shall be subject to an annual review, shall also pay the competent
authority, on the first anniversary of the registration of the said
agreement in accordance with the said article and annually thereafter
on the date of such anniversary for as long as the same agreement
remains in force, an annual registration fee as established in the First
Schedule, as applicable.
(6) A person that intends to have their name restored on the
Agents Register, the Managers Register, the Brokers Register, the
Agents List, the Managers List or the Brokers List, as applicable, in
accordance with article 18(1)(b) of the Act shall, upon submission of
an application to the competent authority in accordance with article
18(2) of the said Act, pay to the competent authority an application
fee as established in the First Schedule, as applicable, with respect to
such application.
(1)
Where an authorised undertaking intends to
appoint a person to act as a tied insurance intermediary on its behalf,
such person shall, upon submission of an application to the
competent authority for their enrolment in accordance with article 37
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 where such person is a legal person, the
application fee due in accordance with this sub-regulation shall be the
following
(a)
the fixed application fee established in the First
Schedule, as applicable; and
(b)
where applicable, the variable application fee
established in the First Schedule, as applicable, with respect to
every branch established by such legal person.
(2) Where a tied insurance intermediary enrolled to act as
such on behalf of an authorised undertaking in accordance with
article 37 of the Act intends to carry on any one (1) or more
additional classes under the business of insurance on behalf of the
same undertaking, the said intermediary shall, upon submission of an
application to the competent authority to modify their enrolment
accordingly, pay to the competent authority the application fee
established in sub-regulation (1), as applicable, which application fee
shall be reduced by twenty-five per cent (25%).
(3) Where an authorised undertaking or an enrolled
insurance broker intends to appoint a person to act as an ancillary
insurance intermediary on its behalf, such person shall, upon
submission of an application to the competent authority for their
enrolment in accordance with article 43E 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 where such person is a legal person, the
application fee due in accordance with this sub-regulation shall be the
following
(a)
the fixed application fee established in the First
Schedule, as applicable; and
(b)
where applicable, the variable application fee
established in the First Schedule, as applicable, with respect to
every branch established by such legal person.
(4) Where an ancillary insurance intermediary enrolled to
act as such on behalf of an authorised undertaking or an enrolled
insurance broker in accordance with article 43E of the Act intends to
carry on any one (1) or more additional classes under the business of
insurance on behalf of the same undertaking or broker, as applicable,
the said intermediary shall, upon submission of an application to the
competent authority to modify their enrolment accordingly, pay to the
competent authority the application fee referred to in sub-regulation
(3), as applicable, which application fee shall be reduced by twenty-
five per cent (25%).
(5) Where a tied insurance intermediary or an ancillary
insurance intermediary enrolled under the Act to act as such on
behalf of an authorised undertaking or an enrolled insurance broker,
as applicable, intends to stop carrying out any one (1) or more such
classes of the business of insurance which it carries on behalf of the
same undertaking or broker, the said intermediary shall, upon the
submission of a request to the competent authority to modify their
enrolment accordingly, pay to the competent authority a modification
fee of two hundred and fifty euro (€250).
(1)
A person enrolled in accordance with article 37
of the Act to act as a tied insurance intermediary 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, which annual supervisory fee shall vary depending on
whether such person carries on long term business of insurance or
general business of insurance, or both such types of business of
insurance
Provided that where such person is a legal person, the
annual supervisory fee due in accordance with this sub-regulation
shall be the following
(a)
the fixed supervisory fee established in the
Second Schedule, as applicable; and
(b)
where applicable, the variable supervisory fee
established in the Second Schedule, as applicable, with respect
to every branch established by such legal person
Provided further that the first annual supervisory fee due
in accordance with this sub-regulation shall be prorated according to
the period remaining between the date when a tied insurance
intermediary is enrolled under the Act and the end of the calendar
year in which such enrolment took place.
(2) A person enrolled in accordance with article 43E of the
Act to act as an ancillary insurance intermediary 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 where such person is a legal person, the
annual supervisory fee due in accordance with this sub-regulation
shall be the following
(a)
the fixed supervisory fee established in the
Second Schedule, as applicable; and
(b)
where applicable, the variable supervisory fee
established in the Second Schedule, as applicable, with respect
to every branch established by such legal person
Provided further that the first annual supervisory fee due
in accordance with this sub-regulation shall be prorated according to
the period remaining between the date when an ancillary insurance
intermediary is enrolled under the Act 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-regulations (1) and (2) shall be paid to the competent authority
on the date when a tied insurance intermediary or an ancillary
insurance intermediary, as applicable, is enrolled under the relevant
provisions of the Act, and every annual supervisory fee following the
first 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.
(1)
A European intermediary that intends to
establish a branch in Malta in accordance with regulation 3 of the
European Passport Rights for Intermediaries Regulations shall, upon
being notified by the European regulatory authority of its home
Member State in accordance with Article 6(2) of the Insurance
Distribution Directive, as transposed in national law, pay the
competent authority a notification fee of one thousand euro (€1,000).
(2) A European intermediary that has established a branch
in Malta in accordance with regulation 3 of the European Passport
Rights for Intermediaries 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.
(3) The first annual supervisory fee due in accordance with
the provisions of sub-regulation (2) shall be paid to the competent
authority on the date when the branch of the European intermediary is
established and commences distribution activities in Malta in
accordance with the regulation 3(5) of the European Passport Rights
for Intermediaries Regulations and annually thereafter on the date
when such branch was established and commenced distribution
activities in Malta in accordance with the said provision.
(1)
The fees established and due in terms of these
regulations shall not be refundable.
(2) Without prejudice to the provisions of regulation 4(1),
(5) and (8) and regulation 7(1) and (2), the fees established and due in
terms of these regulations shall not be prorated.
The Insurance Distribution (Fees) Regulations are
hereby repealed without prejudice to anything done or omitted to
be done thereunder.
These regulations shall not be deemed to affect the
liability in respect of any fees due under the Insurance Distribution
(Fees) Regulations, prior to the coming into force of these
regulations.