Portugal's Insurance and Pension Funds Supervisory Authority (ASF) issued Circular No. 1/2026 updating the extraordinary supervisory measures adopted in response to recent macroeconomic shocks and discontinuing the extraordinary information return “Monitorização da Solvência.xls” with effect from 1 January 2026. The change applies to insurance and reinsurance undertakings headquartered in Portugal and branches of third-country insurance and reinsurance undertakings. ASF framed the update against measures introduced during the COVID-19 pandemic and later adapted to the Russia–Ukraine conflict and associated inflation and financial market volatility, under which the solvency monitoring file had been maintained to support monthly monitoring of solvency; ASF now considers the remaining extraordinary measures should be adjusted to the current macroeconomic context.
Portugal's Insurance and Pension Funds Supervisory Authority discontinues extraordinary monthly solvency monitoring reporting
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) issued Circular No. 1/2026, updating supervisory measures due to recent macroeconomic shocks and discontinuing the "Monitorização da Solvência.xls" report from 1 January 2026. This change affects insurance and reinsurance entities in Portugal and branches of third-country firms. ASF's update reflects adjustments to measures introduced during the COVID-19 pandemic and adapted for the Russia–Ukraine conflict and related economic volatility.