The Malta Financial Services Authority (“MFSA” or the “Authority”) has been looking into certain matters related to an Insurance Undertaking with respect to the late submission of regulatory information to the Authority. The Authority has considered the goodwill demonstrated by the Insurance Undertaking and agreed to settle all pending matters.

Business Activity: Insurance Undertaking

FINDINGS:

The MFSA found failings in respect to Section 8.6 of Chapter 8 of the Insurance Rules with respect to the late submission of the SOLO NMC for financial year ended 31 December 2021.

MEASURES

On 20 June 2025, the MFSA agreed to settle pending matters with the Insurance Undertaking after demonstration of goodwill by the Insurance Undertaking. By means of a settlement agreement entered into between the Insurance Undertaking and the MFSA, the latter imposed an administrative penalty of one thousand three hundred and twenty Euro (€1,320) on the Insurance Undertaking.

PUBLICATION

This notice is being published in terms of the Authority’s Settlement Policy.