MFSA Emphasises the Importance of Data Quality in Insurance Regulatory Reporting

Supervisory Findings Released

On 3 September 2026, the Malta Financial Services Authority (MFSA) published a Dear CEO Letter highlighting the critical role of data quality in insurance regulatory reporting. The communication summarises findings from supervisory inspections conducted across the insurance sector and outlines the Authority’s expectations regarding the quality and reliability of regulatory submissions.

Key Areas Identified for Enhancement

The inspections focused on the preparation and submission of Regulatory Financial Returns. While the MFSA noted examples of good practice, it also identified a number of areas where firms can strengthen their frameworks. In particular, the Authority highlighted the need for robust governance arrangements, effective internal controls, and well-documented reporting processes to support the accuracy and consistency of regulatory reporting.

What This Means for Regulated Firms

The publication reflects the MFSA’s continued focus on ensuring that regulatory data is accurate, complete, and reliable. Although the Dear CEO Letter is addressed specifically to insurance undertakings, its underlying messages are equally relevant to the wider financial services industry. As regulatory expectations around data governance and reporting continue to evolve, firms may wish to review their existing compliance, oversight, and control frameworks to ensure they remain aligned with supervisory expectations.