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MFSA Chairman listed in Captive Review’s Power 50

The Chairman of the Malta Financial Services Authority (MFSA), Professor Joe Bannister, has been featured as one of the 50 most influential people in the captive insurance industry.

For the first time, Professor Joe Bannister, Chairman of the Malta Financial Services Authority, has been included in the Power 50, a list published by Captive Review magazine.

Professor Bannister is entering the list in the 47th position. In its personal profile, Captive Review said: “The long-serving chairman of the MFSA is synonymous with Malta and has overseen its integration in the European Union’s regulatory framework, and with it, the introduction of Solvency II. Malta and Bannister are trusted by more than a handful of Europe’s multinationals with captives but the jurisdiction continues to undersell itself as a captive domicile because of the way it classifies insurance companies. It remains the only EU domicile to facilitate cell company business, putting it in a strong position as Solvency II takes full effect.”

The magazine, which is based in London, has more than 12,000 subscribers. About 4,800 votes from professionals in the captive industry were received by Captive Review and were used to compile the annual Power 50 list.

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