Principles of Insurance Regulation and Supervision

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General information

To be confirmed
17:30–19:00 CET


The intention of this programme is to provide the participant with an explanation of the prudential and conduct requirements expected of insurance market players in Malta. The programme covers the Insurance distribution Act as transposed from the IDD and outlines the various relevant rules and regulations issued by the authority.


This programme is suitable for those working or intending to work within a regulatory environment or are responsible for Insurance compliance and regulation.

  • Technically knowledgeable in Insurance and its respective operations.
  • Able of performing technical work and supervising the work of subordinates from a regulatory perspective.
  • Able to monitor and test policies and procedures in line with regulatory requirements.
  • Able to guide employees including management on matter related to compliance and supervision.

This training programme is aimed at participants involved in compliance and regulation.

There are no entry requirements to participate on this programme since MITC believes that any student who seriously commits himself/herself has the potential to succeed. Nevertheless, MITC strongly advices that students should ideally have acquired a proven academic aptitude and a business inclination.

Those participants attending 80% of the programme and who are also successful in their examination will receive a certificate of achievement by the Malta International Training Centre (MITC).

A certificate is issued at the end of the programme which can be presented as evidence during supervisory inspections by the Regulator.

The course consists of 18 contact hours, held once a week. A total of 12 sessions of 1.5 hours duration (17:30-19:00 CET). A further of 54 hours of self-study is required. Examination will be held between 0930-1130hrs.

There will be 1 examination session of 2 hours duration, during which candidates will be expected to answer 10 questions. The pass mark is set at 55%.

Various lecturers from the MFSA and industry.

To be advised shortly.

Lectures will be held rom 1730 – 1900hrs.

Wednesday 7th April 2021

The structure, role and functions of the Malta Financial Services Authority.

Monday 12th April 2021

Criteria of fitness and properness; Schemes of operations relating to business of insurance; Issuing and registration of underwriting agreements; computer linked agreements; application process.

Monday 19th April 2021

Overview of the Insurance Business Act

Monday 26th April 2021

Separate management of long-term business and general business; specific classes of general business; Exercise of Passport Rights by European and Maltese Insurance Undertakings – Establishment and Services.

Monday 3rd May 2021

System of Governance; Internal Controls; Risk Management Compliance and Actuarial functions.

Tuesday 11th May 2021

Valuation of assets; SCR and MCR; Financial statements and supervisory reporting; Own funds of companies carrying on business of insurance or acting as insurance agents, brokers or insurance managers; solvency II requirements.

Monday 17th May 2021

Overview of the Insurance Distribution Directive.

Monday 24th May 2021

Product oversight and governance.

Monday 31st May 2021

General Disclosure Requirements under the Conduct of Business Rulebook. 

Tuesday 8th June 2021

Suitability and Appropriateness Testing in the context of the distribution of IBIPS.

Monday 14th June 2021

Conflicts of interests and inducements. 

Monday 21st June 2021                            

Complaints Handling.

Wednesday 30th June 2021       

Prudential assessment of acquisitions and increase of holding in authorised companies; Appointment and changes of director, controller or senior manager, Authorisation to act as approved auditor                                            

EXAM Date: Friday 9th July 2021

Dispatch of Exam results by post: 13th August 2021.

€440 per participant (includes tuition, course material, examination and certification).

  • Companies effecting group bookings (four or more participants) are entitled to a 10% discount. For group bookings kindly send an e-mail to
  • A 25% cancellation fee is payable for cancellations received within 15 days of the start of the programme.
  • No refund will be entitled after the commencement date of the programme.