Senior MFSA and European supervisors highlight Solvency II reform, IRRD implementation and the importance of sustained industry engagement to safeguard market stability and competitiveness
The Malta Financial Services Authority (MFSA) successfully hosted the MFSA Insurance Conference 2026, a landmark event that brought together regulators and industry leaders to examine the next phase of regulatory change in the insurance sector.
The conference opened with remarks by Christopher P. Buttigieg, Chief Officer Supervision, followed by a keynote speech delivered by Michelle Mizzi Buontempo, Chief Officer Enforcement, who highlighted supervisory priorities and regulatory developments shaping the industry.
A central moment of the conference was the address by Ray Schembri, Head of Insurance and Pensions Supervision, who introduced MFSA’s work on Solvency II and the Insurance Recovery and Resolution Directive (IRRD). He also launched a consultation paper designed to engage industry stakeholders in shaping the future regulatory framework.
The conference featured keynote speeches and panel discussions led by senior MFSA officials, international experts, and industry representatives. Among the guest speakers was Giovanni Rago, Head of the Supervisory Convergence Unit at the European Insurance and Occupational Pensions Authority (EIOPA) and Elena Barra Caracciolo - Senior Officer at the the Italian Insurance Supervisory Authority (Istituto per la Vigilanza sulle Assicurazioni-IVASS) who contributed insights on cross-border supervision, simplification and burden reduction in the insurance sector in the EU, proportionality, and the passporting implications for insurers operating across Europe.
The event concluded with a closing speech by MFSA Chairperson, Jesmond Gatt, reaffirming the Authority’s commitment to a transparent, consultative approach to supervision and to maintaining Malta’s alignment with evolving EU regulatory standards.
Ray Schembri commented: “The launch of our consultation paper on Solvency II Review and IRRD marks an important milestone. Through collaboration and feedback, we aim to ensure that our regulatory framework remains robust, proportionate, and forward-looking.”
