In cooperation with the European Insurance and Occupational Pensions Authority (EIOPA), the MFSA has launched a thematic review of market conduct addressed at insurance undertakings operating in the unit-linked life insurance market.
The purpose of the review is to identify potential sources of consumer detriment stemming from business interlinkages between providers of asset management services and insurance undertakings and the extent to which the latter are affected by the existence of monetary incentives and remuneration received.
The thematic review focuses on three key issues:
- Existence and characteristics of monetary incentives and remuneration;
- How insurance undertakings address conflicts of interest;
- How insurance undertakings structure unit-linked life insurance products.
EIOPA is managing and coordinating this EU-wide exercise, which targets 60% of the unit-linked life insurance market in each participating country. Submissions from participating insurance undertakings will be received by the MFSA in September 2016 and will be provided to EIOPA in an anonymised format. The results of the thematic review will be published by EIOPA in early 2017.
Any queries on the above are to be addressed to the Conduct Supervisory Unit by email on finpro@mfsa.com.mt.
Thematic Review Of Market Conduct
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