Life Report

Product Insurance Market Reports Life Rev Malta

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Malta's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Malta's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Malta

The Malta life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Malta. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Malta and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Malta’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Malta is available.

Axco’s report describes the regulatory framework that applies to the Maltese domestic life insurance sector, including whether non-admitted insurance is permitted in Malta; as well as the legislation necessary to know regarding Malta’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Malta with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Maltese market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Malta, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Malta's pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Malta report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Malta Life and Benefits Report Extract

Below are brief extracts of information from the Malta Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

The domestic life insurance market in Malta is small with both penetration as a share of GDP and per capita premium spend substantially lower than the average for the EU.

As well as life insurance for Maltese citizens, the country is home to a number of entities active elsewhere in the EU and further afield both on a direct and reinsurance basis; premium income from this element of the market in 2019 was EUR 1.05bn ....


Whilst the Maltese are proud of their social security system, it is evident that it is not sustainable in the long term in its current shape and does not sufficiently provide for its old age pensioners: the salary replacement ratios on retirement are low, expected to fall further. Malta faces the common European problems of a growing old age dependency ratio, contributions lost as a result of workers operating in the informal economy and older employees lost to the employment market due to early retirement ....


Private medical insurance (PMI) is an important class of non-life business in Malta, in 2018 accounting for about EUR 33.90mn (USD 40.02mn) in premium, according to MIA, a substantial increase on 2017, attributed to ongoing growth in the expatriate population and price increases to reflect medical inflation.

Penetration of PMI is close to 100% for expatriates, both for the higher paid employees from the EU where cover is an important part of their total remuneration, and for lower ....

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