General
August 10, 2026
Insurance sector looks ahead to a more complex risk landscape
Insurance sector looks ahead to a more complex risk landscape… As extreme weather becomes more common, the insurance sector faces a difficult balance: helping more people secure the protection they need while ensuring that the risks being covered remain insurable.
Addressing the Insurance Association Malta’s recent AGM, president Catherine Calleja said closer cooperation with the Malta Financial services Authority and the Climate Action Authority would be essential to understanding Malta’s protection gaps and responding to the growing impact of climate change.
During his presentation, IAM director general Adrian Galea spoke about the simplification process that both European and Maltese regulatory authorities are pursuing to reduce the administrative cost and burdens to insurance undertakings, which will in turn benefit consumers.
He added that insurers were also preparing for further regulatory change, while adapting to cyber threats, artificial intelligence and the pressures created by an ageing population and wider economic uncertainty.
These developments will impact the demand for health, life and retirement products, as well as the way insurers assess and provide protection.
Ms Calleja said the industry must continue engaging constructively with regulators, government and the wider public so that it does not simply respond to change, but plays a part in shaping what comes next.
"We must continue to engage constructively, maintain our focus, and work together with purpose, so that we will not only respond to change, but help shape the future of our industry,” she said.
During the AGM, Ms Calleja and Mr Etienne Sciberras were reconfirmed as IAM’s president and vice-president, respectively.
This Article was published by Ms Ariadne Massa on 29th July 2026
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