The MFSA Insurance Conference 2026 will bring together the regulators and industry leaders for a focused discussion on the next phase of regulatory transformation in the insurance sector. This year, the conference will centre on the implementation of the Solvency II Review Package, exploring its strategic, operational, and supervisory implications for insurers and reinsurers operating in an evolving risk environment.
The conference will also introduce the Insurance Recovery and Resolution Directive (IRRD), providing an early opportunity to understand its objectives, scope, and expected impact on preparedness, governance, and crisis management frameworks. Through insightful and forward-looking discussions, participants will gain practical perspectives on how to navigate the new regulatory landscape and align with emerging EU expectations.
A must-attend event for insurance professionals seeking clarity, guidance, and strategic foresight at a pivotal moment for the insurance sector.
Who Should Attend
- Insurance Sector
Agenda
| 08:30H | Registration & Welcome Coffee | |
| 09:00H | Opening Statement
Kenneth Farrugia - Chief Executive Officer, MFSA |
|
| 09:10H | Keynote Speech
Christopher P. Buttigieg - Chief Officer Supervision, MFSA |
|
| 09:20H | Keynote Speech
Michelle Mizzi Buontempo - Chief Officer Enforcement, MFSA |
|
| 09:30H | Keynote Speech
Giovanni Rago - Head of Supervisory Convergence Unit, European Insurance and Occupational Pensions Authority (EIOPA) |
|
| 09:50H | Keynote Speech
Ray Schembri - Head Insurance & Pensions Supervision, MFSA |
|
| 10:00H | Coffee Break | |
| 10:45H | Keynote Speech | From Directive to Delivery: The Solvency II Implementation Journey
Andrea Zerafa - Deputy Head, Insurance & Pensions Supervision, MFSA |
|
| 11:05H | Panel Discussion | Solvency II Review - A Practical Implementation of Proportionality Measures - Ongoing Perspective
Ray Schembri - Head Insurance & Pensions Supervision, MFSA (Moderator) Luciano Micallef - Deputy Head, Insurance & Pensions Supervision, MFSA |
|
| 12:05H | Q&A Session | |
| 12:15H | Keynote Speech | Solvency II Review - SNCUs - Who and How?
Romina Farrugia - Deputy Head, Insurance & Pensions Supervision, MFSA |
|
| 12:35H | Q&A Session | |
| 12:40H | Lunch | |
| 14:00H | Panel Discussion | Significant Cross-Border Business and Passporting Implication
Anthony Tomaselli Chetcuti - Senior Technical Expert, Insurance & Pensions Supervision, MFSA (Moderator) Sarah Pulis - Head, Conduct Supervision, MFSA |
|
| 14:50H | Q&A Session | |
| 15:00H | Keynote Speech | Introduction to Resolution and IRRD
Christian Buttigieg - Head, Resolution, MFSA |
|
| 15:10H | Panel Discussion | MFSA on IRRD
Sarah Deonne Bonello - Senior Manager, Insurance & Pensions Supervision, MFSA (Moderator) Christian Buttigieg - Head, Resolution, MFSA |
|
| 15:50H | Q&A Session | |
| 16:10H | Concluding Remarks
Jesmond Gatt - Chairman, MFSA |
|
| 16:20H | Networking | |
Registrations
The Authority encourages interested participants to register here by not later than Wednesday 25 February 2026.
Registration is on a first come, first served basis. Participants who attend will be eligible for CPD hours.
Photos and videos will be taken during the event with the intent to publish this material on social media channels and the website.
By registering, one would be granting consent to the data being used.
Speakers
Chairman, MFSA
Jesmond Gatt
Jesmond Gatt was appointed as Chairman of the Board of Governors of the Malta Financial Services Authority in 2023. Mr Gatt joined the Central Bank of Malta in 1984, graduating in Mathematics and Computing at the University of Malta in 1995. During his career at the Bank, which spans over 37 years, he has worked on all major IT projects holding the position of Chief Officer responsible for retail banking services, management of currency and the regulation of payment systems and infrastructures. He formed part of the core financial sector team which oversaw the changeover to the Euro in Malta in 2008. Since Malta became part of the European Union he has been a member of a number of Euro system and European Commission committees working on payments systems and the management of euro notes and coins. He has also participated in a number of European Commission initiatives drawing up payment systems regulations. Since 2016 he has been sitting on the Board of the FIAU, acting as Chairman to the Board from 2020. In December of 2022 he has taken up the role of Chief Executive Officer at the Malta Government Investments.
Chief Executive Officer, MFSA
Kenneth Farrugia
Kenneth Farrugia, CEO of the MFSA, holds a Bachelor of Accountancy (Hons), an MA in Business Ethics, and is a Certified Public Accountant and a fellow member of the Malta Institute of Accountants (MIA). Throughout his career, Mr Farrugia held audit positions both within private audit firms and the public sector. Prior to joining the MFSA, Mr Farrugia was the Director of the FIAU, Malta’s financial intelligence and single AML/CFT Supervisor and Enforcement Unit in Malta, for six years until April 2023. During his tenure he implemented major policy, system and procedural reforms within the various sections of the FIAU, including intelligence analysis, AML/CFT supervisory and enforcement initiatives, and legal and international relation areas. Additionally, Mr Farrugia spearheaded the setting up of new teams within the Unit such as the cash limitation supervisory team, the central bank account registry and data analytics team, as well as the strategy, policy and quality assurance teams to cater for new responsibilities assigned to the FIAU by law, and also to enhance the overall governance structure of the Unit. He represented the FIAU in international fora, including the EBA AMLC, FIU Platform and EGMONT, amongst others, and participated in various AML/CFT high-level committees. For nine years up to 2017, he was engaged within the Government of Malta’s Internal Audit and Investigations Department (IAID) where he held various roles, including that of Director General. Mr Farrugia provided support to the Internal Audit & Investigations Board (IAIB) in drafting policies and procedures, implementing and managing the necessary change programmes and served as Secretary to that Board. He also participated in various meetings, seminars and conferences organised by the European Commission in the fields of auditing and financial investigations. Mr Farrugia is currently also the Chairman of the FIAU.
Chief Officer Supervision, MFSA
Christopher P. Buttigieg
Prof. Buttigieg has more than twenty five years of professional experience in financial regulation and supervision. He is the Chief Officer – Supervision, responsible for the Supervision Directorate, the Chair of the MFSA’s Regulatory Committee and the AMLCFT Committee and a member of the Authority’s Executive Committee. He is responsible for the co-ordination and implementation of the supervisory and regulatory strategy across all the sectors under the MFSA’s remit. Between October 2020 and September 2021, Prof Buttigieg fulfilled the role of Interim Chief Executive Officer of the Malta Financial Services Authority. Throughout his career at the MFSA, Prof Buttigieg was responsible for managing various functions and teams. He was also responsible for the implementation of several European Directives and Regulations and the development of new regulatory frameworks at national level. Prof Buttigieg is a member of the Board of Supervisors of the European Securities and Markets Authority and European Banking Authority. He was the Chair of the ESMA Data Standing Committee (until December 2022) and a member of the EBA Task force on proportionality (2025). He is currently the Chair of the ESMA Proportionality and Coordination Committee and a member of the ESMA Management Board. Prof Buttigieg has a commerce degree (B.Com 1998), an accountancy degree (B.Accty. Hons. 2000) and a financial services law degree (M.A. Fin. Ser. 2003) from the University of Malta, as well as a European Union Law degree (M.A. EU Law and Soc 2005) and a doctoral degree in law (PhD 2014) from the University of Sussex (UK). His Doctoral thesis deals with the governance of EU securities regulation and supervision. Prof Buttigieg is an Associate Professor in the Banking, Finance and Investments Department of the University of Malta. He is also a member of the Board of Trustees of the Academy of European Law (ERA) in Trier, Germany, and a visiting lecturer at the same institution. He is an active researcher and has published various papers in reputable journals, including the Columbia Journal of European Law, the European Company and Financial Law Review, the ERA Forum, the Journal of Financial Regulation and Compliance, the Journal of Business Law and the Law and Financial Markets Review. His latest publications deals with centralisation of supervision of CASPs under the EU Markets in Crypto Assets Regulation. He is also the Editor in Chief of the Journal of the Financial Supervisors Academy, which seeks to bridge academia with financial supervision.
Chief Officer Enforcement, MFSA
Michelle Mizzi Buontempo
Dr Mizzi Buontempo has been occupying the position of Chief Officer Enforcement since March 2020, after five years heading the Conduct Supervision function within the MFSA. Michelle has over twenty years of experience in the regulation and supervision of different areas within financial services, including supervision of investment firms and fiduciaries. She represented the MFSA at various Committees of the ESAs and is a member of the ECB Supervisory Board. During her career within the MFSA, Michelle has been entrusted with the responsibility of piloting a number of projects including the setting up of a regulatory regime to enhance consumer protection in the investments and insurance sector, as well the establishment of a new regulatory framework for trustees and company service providers. Michelle regularly lectures on corporate governance and consumer protection. An advocate by profession, Michelle was awarded a Masters Degree in Financial Services from the University of Malta. She also holds a warrant to practice in the Maltese Courts. Prior to joining the MFSA, she headed the corporate division of a leading audit firm specialising in financial services.
Head, Insurance & Pensions Supervision, MFSA
Ray Schembri
Ray Schembri joined the MFSA in February 2019 as Head of Insurance and Pensions Supervision and is responsible for the prudential supervision of insurance companies, insurance intermediaries and pension operators. Throughout his professional career spanning over 30 years, he held various senior executive positions and directorships with major insurance groups operating in Malta. An Associate of the Chartered Insurance Institute, Mr Schembri has specialised in Insurance Broking, Insurance Operations Management, Insurance Projects Management, Insurance Portfolio Transfers, Risk Management and Captive Insurance Management.
Head of Resolution, MFSA
Christian Buttigieg
Christian Buttigieg was appointed Head of Resolution on 1 September 2022, leading a multidisciplinary and dynamic team. He joined the Resolution Unit in January 2017 as a senior manager and has been an integral part of the process to set up the necessary structures of the function. Mr Buttigieg actively participated in negotiations to finalise the second iteration of the Bank Recovery and Resolution Directive, which regulates the resolution process in the EU and is also the MFSA representative on the Single Resolution Board’s Plenary Committee. Mr Buttigieg joined the Central Bank of Malta in 2005 after obtaining a B.Com (Hons.) in Economics from the University of Malta. At the Central Bank, Mr Buttigieg joined the Financial Stability Department and covered various areas for a number of years. He subsequently joined the Economics Department and was involved in economic analysis and forecasting for around four years. Subsequently, he moved again to Financial Stability within the Central Bank before joining the Resolution Unit at the MFSA. He also continued his studies and obtained a Masters in Financial Economics and a Masters of Law (Banking and Finance) from the University of London.
Head, Conduct Supervision, MFSA
Sarah Pulis
Sarah Pulis holds the position of Head within the Conduct Supervision function at the MFSA. Sarah has twenty years of experience in the regulation and supervision of financial services, namely investment firms, collective investment schemes, company services providers, insurance undertakings and insurance intermediaries. During her career, she has represented the Authority on various committees with ESMA and EIOPA. Sarah read law at the University of Malta and graduated as a Notary Public and Doctor of Laws in 1996 and 1999 respectively. She also obtained a Master of Laws in European Union Law from the University of Leicester in 2006.
Senior Officer, International Cooperation Division, IVASS
Elena Barra Caracciolo
Elena Barra Caracciolo is a senior officer in the International Cooperation Division at IVASS, the Italian Insurance Supervisory Authority. In IVASS she follows European regulatory developments in the insurance sector, especially with regard to cross-border and consumer protection issues. She is currently the Chair of the EIOPA Committee on Consumer Protection and Financial innovation (CCPFI). She has been the IVASS representative in the Review Panel of the EIOPA since its foundation and she held the role of Leader for two peer reviews in the area of cross- border business.
Deputy Head, Insurance & Pensions Supervision, MFSA
Andrea Zerafa
Dr. Andrea Zerafa is a warranted lawyer and currently holds the position of Deputy Head within the Legal and Regulatory team of the Insurance and Pensions Supervision within the MFSA. Dr. Zerafa has been working at the MFSA for the past eleven years and has been involved in a number of projects, namely the transposition of the Solvency II Directive, the Insurance Distribution Directive and the IORP II Directive in Maltese Legislation.
Deputy Head, Insurance & Pensions Supervision, MFSA
Alfred Parnis
Alfred Parnis, FIA, CPA, MBA (Melit.) is a Certified Public Accountant. He is Deputy Head within Insurance and Pensions Supervision at the Malta Fianancial Services Authority and has been involved in the regulation of insurance undertakings over the past 30 years.
Deputy Head, Insurance and Pensions Supervision, MFSA
Romina Farrugia
Romina Farrugia is Chair of the Authorisation Forum and the Deputy Head of the Insurance and Pensions Supervision function within the Malta Financial Services Authority (MFSA). Romina is an Accountant by profession and joined MFSA in February 2006, gaining significant experience in both the supervision as well as the authorisation of undertakings within the Insurance and Pensions sector.
Deputy Head, Insurance & Pensions Supervision, MFSA
Luciano Micallef
Luciano Micallef is the Deputy Head of the Insurance and Pensions Supervision function within the Malta Financial Services Authority (MFSA). He is a Fellow of the Chartered Insurance Institute, an Associate of The London Institute of Banking and Finance, holds an Honours degree in Financial Services, and a Masters degree in Risk Management. Luciano started his career in the insurance industry where he spent 15 years working mostly in the non-life sector. He joined the MFSA in February 2012 and is currently managing a team responsible for the prudential oversight of authorised insurance and reinsurance undertakings, insurance intermediaries, retirement schemes, retirement funds and retirement plan service providers, including business carried out in an EU Member State or EEA State, either through establishment or under freedom to provide services. The primary area of responsibility is ensuring that license holders implement an effective system of governance and risk management system in line with the applicable regulation.
Deputy Head, Resolution, MFSA
Lynn Spiteri Dalmas
Lynn Spiteri Dalmas is a Deputy Head within the MFSA’s Resolution Function who joined the MFSA in March 2019. She leads a team of lawyers and policy experts with the aim of advising the Resolution Committee on the area of Bank Resolution, Bank liquidation and other policy matters. She is also actively involved in Internal Resolution Teams (IRTs) with the Single Resolution Board (SRB) and regularly participates in workshops organised with credit institutions in Malta. She is a member of the SRB’s Legal Network and an alternate member to the Resolution Committee of the European Banking Authority (EBA). Prior to joining the MFSA, she occupied the role of legal counsel with the Legal Department of the Central Bank of Malta. Lynn holds a Doctor of Laws (LL.D.) from the University of Malta and a Master of Laws (LL.M.) with a specialisation in Banking and Financial Services from the University of London. She also holds a warrant to practice in the Maltese Courts.
Senior Technical Officer, Insurance and Pensions, MFSA
Anthony Tomaselli Chetcuti
Anthony Tomaselli Chetcuti has joined the MFSA in 2019 after gaining professional experience in Malta and abroad in both private and public sector. He is part of the Authorisation team within the Insurance and Pension Supervision Function and he is in charge of the passporting procedure, thanks to which he has gained expertise in the cross border business, and become a contact point in this matter for the industry, the EEA regulators and EIOPA.
Senior Manager, Insurance & Pensions Supervision, MFSA
Bernard Valletta
Bernard is a Senior Manager within the Actuarial Function of the Insurance and Pensions Supervision Team at the MFSA. An Associate of the Institute and Faculty of Actuaries, Bernard has been a key contributor to the MFSA's prudential supervision of insurance and reinsurance undertakings for the past five years, with a focus on various actuarial aspects such as Solvency II technical provisions and internal models. Bernard has actively contributed to international regulatory discussions through EIOPA, in order to help enhance MFSA's alignment with best practices in the supervision of insurance and reinsurance undertakings. Prior to joining the Insurance and Pensions Supervision Team, Bernard gained valuable experience in financial risk management during a four-year tenure with the Depositor and Investor Compensation Schemes. With a Bachelor's degree in Mathematics and Physics from the University of Malta, Bernard combines strong analytical expertise with hands-on regulatory experience to ensure compliance with evolving prudential standards within the insurance industry.
Senior Manager, Insurance & Pensions Supervision, MFSA
Sarah Deonne Bonello
Sarah Deonne Bonello is a Senior Manager within the Insurance and Pensions Supervision function of the MFSA. Sarah is an Insurance Specialist and a Prudential Supervisor. Since joining the Authority in 2019, Sarah has been an active member of several MFSA working groups and represents the Authority in EIOPA Committees and Expert Network Groups and Insurance Supervisory Colleges particularly in the areas of Quantitative Requirements, Audit and Accounting. Before joining the MFSA, Sarah worked for four years with a local Big 4 Audit firm, where she held the position of a Senior Auditor, with a profile of predominantly insurance clients. She has a strong academic background in Accounting and Insurance, having completed undergraduate studies in both fields and a Master’s degree in Accountancy. Sarah is a warranted Accountant and Auditor and is a Member of the Malta Institute of Accountants.
Senior Legal Officer, Insurance & Pensions Supervision, MFSA
Valerio Biondo
Valerio Biondo is a warranted lawyer and currently holds the position of Senior Legal Officer within the Legal and Regulatory Team of Insurance and Pensions Supervision at the MFSA. He started his career in the insurance industry where he spent seven years working in the life and non-life sectors. Valerio is actively involved in several key projects, including the transposition into Maltese Legislation of the Solvency II amending Directive and the Insurance Recovery and Resolution Directive.
