The Insurance and Pensions Supervision Function continues to play a central role in strengthening the Authority’s supervisory capabilities while preparing for important regulatory and market developments such as the Solvency II review and the IRRD. Over the past months significant effort has been dedicated to enhancing data-driven supervision through the development of a number of internal dashboards including tools for Solvency II reporting recovery planning actuarial analysis and investment monitoring.
A key achievement was the creation of a new SNCU and SNCG supervisory dashboard combining QRT data and SQL-based analytics to support the forthcoming Solvency II Review and the assessment of proportionality measures through specific new authorisation forms. This work was complemented by data cleansing initiatives updates to supervisory procedures through a more risk-based approach ongoing actuarial reviews including ORSA assessments and the handling of a wide range of supervisory approvals and complex authorisation matters.
The Function has also maintained a strong presence at the European level through active participation in EIOPA working groups Solvency II workshops and supervisory colleges as well as at national level with a strong communication strategy which holds its highlight in the annual insurance conference. Teams successfully led and concluded several strategic initiatives including the EIOPA Peer Review on reinsurance arrangements the update of the Natural Catastrophe Dashboard and a thematic review on the use of reinsurance that resulted in a Dear CEO communication to the industry. Additional contributions covered climate change and sustainability discussions preparations for the 2026 EIOPA stress test internal model data updates overseas inspection work and ongoing collaboration through the Sustainable Finance Working Group and Records Management System project.
These achievements have been made possible through the team’s exceptional technical expertise, collective knowledge, professionalism and unwavering dedication. Their collaborative approach, deep understanding of complex regulatory and actuarial matters, and commitment to delivering high-quality supervisory outcomes continue to strengthen the Authority’s effectiveness and reputation both locally and internationally.
This forward-looking approach, coupled with growing interest from major international market participants seeking to establish operations in Malta, reflects both the evolving nature of the sector and the Function’s commitment to ensuring a robust, and efficient supervisory framework.
