Atlas Insurance has become the first protected cell company (PCC) in Malta.
The Maltese Financial Services Authority has authorised Atlas' conversion into a PCC, with effect from 1 November.
Michael Gatt, Atlas' managing director, was confident that the PCC structure would allow the company to service more effectively small-to-medium firms that choose to set up their own captive.
PCCs have already been established in other offshore centres, such as Guernsey, the Isle of Man and Gibraltar.
