IVASS consultation document no. 4/2026

On 10 April 2026 the Italian Insurance Regulatory Authority (IVASS) published consultation document no. 4/2026 amending Regulation 55/2024 (the Consultation Document).

The proposed amendments to the Regulation are intended to bring the Authority’s regulations into line with the ESA Joint Guidelines, which stipulate that national supervisory authorities must submit information to the EIS platform – the common IT platform used by the European supervisory authorities EBA, EIOPA and ESMA – within 15 days of becoming aware of the appointment of directors, the appointment of senior management or the acquisition of shareholdings.

Firstly, the regulatory deadlines for submitting data to the RIGA portal must be brought into line, reducing them from 30 to 15 days for all appointments. Secondly, companies have to update the RIGA within these new deadlines, with appointments and shareholdings that require prior authorisation from IVASS. In such cases, the data relating to this information will be uploaded before the outcome of the authorisation and, therefore, will remain in a “pending” status until IVASS authorisation is granted. IVASS will confirm the data entered on RIGA at the same time as it notifies the company of the outcome of authorisation. In this way, therefore, data on all appointments and shareholdings, even those merely “proposed,” is captured on RIGA for transmission to the European platform as required by the ESA Guidelines, without this entailing any additional operational burden for insurance companies.

The order that would amend the Regulation consists of three articles.

Article 1 provides that:

• the current Article 9, paragraph 3, of the Regulation shall be replaced by the following: “3. The undertakings referred to in Article 3, paragraph 1, as detailed in the following articles, shall enter the following in RIGA:

I. the personal and corporate details of the reporting undertaking, as set out in the Annex, concerning persons holding specific corporate and management positions, including their appointment, expiry date, renewal and changes to their roles, even where these are proposed for authorisation by IVASS in accordance with the provisions of the Code:

a. the corporate bodies responsible for administration, management and control;

b. the holders of key functions within the company and, where such functions are outsourced, also the persons responsible at the suppliers;

c. shareholders, shareholders’ agreements and controlling (direct and indirect) shareholdings, whether qualified or conferring significant influence;

d. suppliers of key functions and of essential or important functions or activities, in cases of outsourcing;

e. the contact persons or managers responsible for specific other business activities.

II. personal details relating to other companies belonging to the group”;

 

Article 16 is replaced by the following:

“1. The information referred to in Title III, which undertakings are required to report, must be submitted via RIGA within the time limits laid down in the relevant legislation or, in the absence of such time limits, in a timely manner and no later than 15 days, even where prior authorisation from IVASS is required.

Any exemptions, due to exceptional circumstances, must be granted in advance by IVASS.

2. In cases of outsourcing of core functions and/or essential or important functions or activities, the reporting undertaking shall transmit the required personal data via RIGA in a timely manner, no later than 30 days from the effective date of the outsourcing contract. In the event of a mere renewal or simple extension of contracts, the relevant information shall be transmitted by the undertaking solely via RIGA.

3. The registration details referred to in Article 14 of these Regulations (shareholdings) shall always be transmitted via RIGA, in a timely manner and no later than 15 days.

4. For the entry of personal details into RIGA, with reference to corporate bodies and fundamental functions and essential or important activities, a digital signature is required on the application’s transmission message. RIGA provides the reporting company with the functionality to verify the successful delivery and correct outcome of the changes submitted, highlighting any issues requiring the company’s attention in order to ensure their correct processing.”

Articles 2 and 3 provide for the publication of the order in the Italian Official Gazette and its entry into force.

The Consultation Document is available, in Italian, here.