S.L. 403.23 Art. 14Approval of an internal group model.

Where an authorised insurance undertaking or an authorised reinsurance undertaking and the ultimate parent insurance or reinsurance undertaking are both established in Malta, the ultimate parent undertaking may, during a period until the 31 March 2022, apply to the competent authority for the approval of an internal group model applicable to this part of the group, if this forms a distinct part having a significantly different risk profile from the rest of the group.