Thursday, 6th February 2025
Radisson Blu Resort & Spa, Malta Golden Sands
This event has already passed and registrations are closed.
Overview
The MFSA Insurance Conference will be an event dedicated to fostering dialogue and collaboration within the insurance industry. This year, we have decided to focus on two critical themes shaping the sector, the Solvency II Review Package and cross-border business. With the regulatory landscape evolving rapidly, it is essential for industry stakeholders to stay informed and prepared for the challenges and opportunities that lie ahead.
The conference provides a platform for regulators, industry leaders, and experts to explore the implications of the Solvency II reforms, designed to enhance policyholder protection and ensure financial stability. Additionally, we will delve into the complexities and benefits of cross-border operations, a key driver of growth and innovation in the European insurance market.
Join us as we engage in insightful discussions, share best practices, and pave the way for a resilient and dynamic insurance ecosystem.
Who Should Attend
- Insurance Sector
Agenda
| 08:30H | Registration & Welcome Coffee | |
| 09:15H | Opening Statement
Kenneth Farrugia - Chief Executive Officer, MFSA |
|
| 09:30H | Keynote Speech: Trends in Regulation and Supervision
Christopher P. Buttigieg - Chief Officer Supervision, MFSA |
|
| 09:45H | Keynote Speech: The IPS Supervisory Initiatives
Ray Schembri - Head of Insurance and Pensions Supervision, MFSA |
|
| 10:00H | Keynote Speech: Reflections on Solvency II
Petra Hielkema - Chairperson, European Insurance and Occupational Pensions Authority (EIOPA) |
|
| 10:20H | Coffee Break | |
| 11:00H | Solvency II Review Context and Key Points
Alberto Corinti - Lecturer of Economy of Financial Intermediaries, Bocconi University, Milan |
|
| 11:20H | Panel Session: Solvency II Review – MFSA Panel on the Different Aspects of the Package Implementation
Ray Schembri - Head of Insurance and Pensions Supervision, MFSA (Moderator) Andrea Zerafa - Deputy Head, Insurance and Pensions Supervision, MFSA |
|
| 12:00H | Q&A Session | |
| 12:10H | Cross-Border Business and Solvency II Review from the Perspective of a Host Country
Damian Jaworski - Director of the International Cooperation Department, Polish Financial Supervision Authority |
|
| 12:30H | Lunch | |
| 14:00H | Panel Session 2: Cross-Border Business | Challenges and Opportunities
Anthony Tomaselli Chetcuti - Senior Technical Expert, Insurance and Pensions Supervision, MFSA (Moderator) Alberto Corinti - Lecturer of Economy of Financial Intermediaries, Bocconi University, Milan |
|
| 15:00H | Coffee Break | |
| 15:30H | Panel Session 3: Industry Panel – The Future of Insurance
Ray Schembri - Head of Insurance and Pensions Supervision, MFSA (Moderator) Etienne Sciberras - President & Chief Executive Officer, MAPFRE Middlesea p.l.c. |
|
| 16:30H | Concluding Remarks
Jesmond Gatt - Chairman, MFSA |
|
| 16:40H | Networking | |
Registrations
The Authority encourages interested participants to register here by not later than Tuesday 4 February 2025.
Registration is on a first come, first served basis. Participants who attend will be eligible for CPD hours.
Photos will be taken during the event with the intent to publish such photos on social media channels and websites. By registering, one would be granting consent to such 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 Buttigieg
Dr Christopher P. Buttigieg was appointed as Chief Officer Supervision in March 2020 following his appointment as Chief Officer Strategy, Policy and Innovation in 2019. During his tenure as Head of Securities and Markets Supervision before 2019, which stretched over four years, Dr Buttigieg was responsible for work in the field of policy, regulation and supervision of securities, markets and FinTech. He joined the Authority in 2000 as Manager in the Investment Services Unit and has gained professional experience in various areas of financial regulation, supervision, the investigation of market misconduct and the enforcement of sanctions. Dr Buttigieg was responsible for implementing various pieces of EU legislation in the field of securities and markets and has led different regulatory and supervisory teams within the Authority. He sits on the Authority’s Supervisory Council and represents the MFSA at various European Fora on financial regulation and supervision. He is the MFSA’s alternate member on the ESMA Board of Supervisors and is the Chair of the ESMA Data Standing Committee. Dr Buttigieg is a lecturer in the Banking and Finance Department of the University of Malta and has published various papers on financial regulation and supervision in academic and professional journals. For a period of two years, up to April 2015, Dr Buttigieg was a director on the board of the Malta Resources Authority, Malta’s energy regulator. In 2015, the President of Malta appointed Dr Buttigieg as a member on the board of the Fund for Voluntary Organisations. Dr Buttigieg is also a member of the Board of Trustees of the Academy of European Law (Trier).
Chairperson, European Insurance and Occupational Pensions Authority (EIOPA)
Petra Hielkema
Petra is the Chairperson of EIOPA and has been leading the Authority since September 2021, following her appointment by the European Council on 27 May 2021 after confirmation by the European Parliament on 18 May 2021. In 2025 Petra is chairing the Joint Committee (the role rotates between the ESA Chairs). In that capacity she is also deputy Vice Chair of the ESRB Steering Committee and the ESRB General Board in 2025. Petra was appointed as Vice Chair of the IAIS Executive Committee in December 2024. Besides that, she is the Champion of the IAIS Fintech Forum. Prior to this role Petra was Division Director of Insurance Supervision at De Nederlandsche Bank (DNB, the Dutch Central Bank) as well as Alternate Member of the EIOPA Board and Chair of the EIOPA Policy Committee. Petra joined DNB in February 2007 as a policy advisor, contributing to the development of Solvency II. In 2013 she became Head Insurance Policy and in 2015 she was appointed as Head of the DNB Expert Centre for Fit & Proper assessments. In February 2017 Petra started as Director of Payments and Market. Prior to joining the Dutch Central Bank fulfilled several roles working in Central Asia. Petra has a European Masters in Law & Economics and a Masters in Russian Studies. She is married and proud mother of three children.
Lecturer of Economy of Financial Intermediaries, Bocconi University, Milan
Alberto Corinti
Alberto Corinti is a lecturer of Economy of Financial Intermediaries at the Bocconi University in Milan. As from 1 January 2013 until 31 December 2024 he was Member of the Board of Directors at IVASS (Italian Insurance Supervisory Authority). Under this role, he was Member of the EIOPA Board of Supervisors and of the IAIS Executive Committee. From March 2011 to December 2012, he was Director at Promontory Financial Group, advising on regulatory and risk management issues. From November 2007 to February 2011, he was director of the Economics and Finance department at CEA (now InsuranceEurope). Before joining CEA, he was Secretary General of CEIOPS, the Committee of European Insurance and Occupational Pension Supervisors, since its foundation in 2004. Prior to that, he headed various departments at Italian Insurance Supervisory Authority.
Director of the International Cooperation Department, Polish Financial Supervision Authority
Damian Jaworski
Damian Jaworski is a Director of the International Cooperation Department at the Polish Financial Supervision Authority (Urząd Komisji Nadzoru Finansowego).He joined the UKNF in 2009 and held numerous senior executive positions, being responsible for international cooperation, analyses and regulation. He is a Member of the Board of Supervisors at EIOPA. In the past, he also chaired the Review Panel and was a member of other EIOPA's fora. He is also a member of the Implementation and Assessment as well as Policy Development Committees at the International Association of Insurance Supervisors. He was also a member of the Executive Committee, Vice Chair of the Audit and Risk Committee as well as the Regional Coordinator for the CEET Region. Before joining the UKNF, Damian Jaworski spent five years in the Foreign Service where, detached from the Ministry of Finance, he worked as financial attache in the Permanent Representation of the Republic of Poland to the EU in Brussels.
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.
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, 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 & 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 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, Conduct Supervision, MFSA
Stefano Lazze'
Stefano Lazze’ joined the MFSA in 2012. He currently holds the position of Deputy Head within Conduct Supervision (Insurance), in which role he is responsible for the conduct supervision of insurance companies and insurance intermediaries. Prior to joining the Authority, he had worked within a Maltese insurance company for 16 years. Stefano attained his Fellowship (FCII) in 2017, and earlier, his Bachelor of Arts (Hons) in Financial Services from the University of Edinburgh in 2016.
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 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.
Global Head of Governance, Regulatory Affairs and Compliance, Accredited Insurance (Europe) Limited
Angele Galea St John
Angele Galea St John is the Global Head of Governance, Regulatory Affairs and Compliance at Accredited Insurance (Europe) Limited. Angele previously held a senior governance role within a global insurance group where she managed the regulatory interface for a number of entities regulated by various Financial Services Regulators under different geographical regulatory regimes and cultures. Angele is a former financial services regulator with 25 years regulatory experience at the Malta Financial Services Authority. During this tenure Angele held various senior positions in financial services authorisation and insurance supervision. Angele is a Certified Public Accountant and holds a Master of Science Degree in Risk Management.
Malta Insurance Management Association
David Galea
Started off his career in an MGA for Lloyds Syndicates within Commercial Claims department, following which he joined Middlesea Insurance Plc (now a member of the Mapfre Group). Whilst still dealing mainly with Commercial Claims, he took an active role on number of high-profile projects and transactions, including LPTs, BCP, Baden Baden and Montecarlo reporting and IT migration projects. He subsequently joined Marsh Captive Solutions in Malta in 2006, and for the last 20 years has been actively involved in managing an array of international and complex clients ranging from pure captives, affinity type captives and large commercial insurers. During this time, he has advised and supported clients in Malta and across Continental Europe on a number of strategic projects, helping them maximise their captive’s potential.
President & Chief Executive Officer, MAPFRE Middlesea p.l.c.
Etienne Sciberras
MAPFRE Middlesea p.l.c is the leading multi-line insurance company in Malta offering solutions across a vast array of insurance needs. The company, founded in 1981, is listed on the Maltese Stock Exchange and since 2011 forms part of the MAPFRE GROUP, the leading insurance group in Spain with a significant international footprint. In his current role, Etienne is responsible for setting the strategic direction and execution of the company’s strategic plan. In this leadership role, together with the senior management team, he has the oversight and management responsibility of the day-to-day business operations. During his twenty plus years trajectory in the industry, Etienne had the opportunity to assume various roles of responsibility within the MAPFRE Group in Malta. In the initial years of his career, Etienne formed part of the investments team which looks after one of the largest investment portfolios on the island. In 2012, he moved into Risk management where he served as Chief Risk Officer for the MAPFRE Malta until his appointment to the role of CEO of MAPFRE MSV LIFE p.l.c. Etienne served in this role for three and a half years, till December 2024 prior to taking up his current role. Etienne Sciberras is a Certified Public Accountant, holder of the CFA designation and an Honours Degree in Commerce with a major in Management.
Chief Strategy Officer, Atlas Insurance PCC Ltd
Ian Stafrace
Ian-Edward Stafrace FCII CFIRM MSc is Chief Strategy Officer of Atlas Insurance PCC Ltd. He leads international business, business transformation, BI analytics, and AI research and adoption. He has led risk management and compliance functions and built expertise in EU based insurance protected cell structures, from traditional captive models to new consumer InsurTechs. Additionally, he serves as a board director at Jesmond Mizzi Financial Advisors and chair of its Risk & Compliance Committee.
Chief Executive Officer, Munich Re of Malta p.l.c.
Jacobus Malherbe
Jacobus Malherbe is a qualified actuary. He spent more than ten years in the management consulting area advising Life insurers and reinsurers before joining Munich Re in 2014. For the past five years he has held the role of CEO of Munich Re of Malta p.l.c., which has a diverse portfolio of Life, Health and Non-Life reinsurance business.
Chief Executive Officer, Stellantis Insurance
Raphaele Carreau
Born in France in 1980, Raphaele is a graduate of Kedge Business School. She starts her career at Renault Group as financial analyst and then business controller before taking the role of CFO of Mobilize Financial Services Benelux (Netherlands, Belgium, Luxemburg). In 2011, Raphaele is appointed CEO of RCI Insurance ltd & RCI Life ltd based in Malta (the insur-ance branches of Mobilize Financial Services Group) where she is especially in charge of their development across Europe and the implementation of Solvency II regulation. She comes back in France in 2014 as Sales Regional Director for Mobilize Financial Services France, where she drives the Mobilize FS commercial performance of the car dealer network of the region. In 2016, Raphaele is nominated CEO of Mobilize Financial Services Adriatic (Slovenia, Croatia, Serbia) located in Ljubljana and steers the overall development of the 3 subsidiaries until 2019. In 2019, Raphaele is appointed CEO Mobilize Insurance, subsidiary of Mobilize Financial Service Group and is responsible of the definition and the deployment of the BTC & BTB insurance strat-egy, of the development of the most relevant partnerships to support the group ambition and more globally of building the Group Renault insurance offer. Last August 2024, Raphaele joined Stellantis as CEO of Stellantis Insurance, succeeding Edouard de Lamarzelle. In her new role, Raphaële will be responsible of insurance business across all Stel-lantis group’s regions and operations. She will lead the growth of all line of insurance business including Extended Warranty & Car insurance.
Group Head of Insurance, Oney Group
Romain de Maud’huy
Romain de Maud’huy has served as the Group Head of Insurance at Oney Group since 2022. In this role, he collaborates closely with all business areas to drive the implementation of the glob-al business line development strategy while also focusing on expanding the Group’s European insurance footprint. He also serves as the Chairman of Oney Insurance (PCC) Limited and Oney Life (PCC) Limited, further contributing to the Group’s strategic objectives and growth in the in-surance sector. Prior to joining Oney Group, Romain accumulated 24 years of extensive experience within the AXA Group, where he worked across a broad spectrum of the insurance value chain. During his tenure at AXA, he held various key operational and functional roles that enabled him to develop a deep understanding of the industry. His expertise spans areas such as strategy planning, busi-ness transformation, partnership development, and distribution. His career has taken him across the globe, with experience in China, Mexico, the UK and France giving him a broad inter-national perspective and a deep understanding of multiple markets. Romain’s diverse profes-sional background has equipped him with the skills to navigate complex challenges, foster inno-vation and lead high-impact initiatives. His ability to combine strategic vision with practical im-plementation has been a defining feature of his career, contributing significantly to the growth and success of the organisations he has worked with. As an experience and accomplished professional, Romain brings a unique blend of strategic insight, operational expertise, and a commitment to excellence to his role at Oney Group.
Managing Director, RCI Life / RCI assurances
Thomas Groleau
Thomas Groleau is Managing Director of RCI Life / RCI assurances, insurance companies of Mobilize Financial Services, financial captive of the Renault Group. Thomas is an actuary from the Euro-Instut d’Actuariat of Bretagne Occidentale and certified member of the French Association of Actuaries with more than 25 years of experience in insurance companies in France and Internationally.
Executive Director, HSBC Life Assurance (Malta) Ltd
Gregory Inglott
Gregory has a passion for leading and driving business growth, delivering through people and being at the forefront of change. He has extensive local market knowledge and international experience. Appointed as CEO of the Company in May 2024, Gregory Inglott has over 20 years track record and is multi skilled across Retail and Wealth Management disciplines having led various functions ranging from front line distribution, management of all customer segments, product management and operations. He also held Senior Executive positions within HSBC Bank Malta p.l.c and HSBC UK including that of Head of Retail and Wealth Distribution, Chief Operating Officer, Head of Strategic Change as well as Head of Customer and Products and Head of Premier (in HSBC UK). Gregory holds a Bachelor degree in Economics and Management, a Bachelor degree (Hons) in Economics as well as a Masters in Financial Services. Gregory is also the Director responsible for the oversight of the insurance distribution activities of the Company. Board Member since: May 2024
