The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) published its register-movement report for the first half of 2025, summarising changes to registrations for senior roles at insurance undertakings, pension fund management companies and insurance sector holding companies, alongside activity related to pension fund processes and insurance intermediaries. ASF recorded 190 registrations and 150 cancellations for administrators and other persons effectively directing firms, key function holders, top managers, responsible actuaries, fiscal council members and statutory auditors, compared with the first half of 2024 this represented 32 more registrations and 33 fewer cancellations. In pension funds, the report notes a rise in authorised extinction processes, particularly for collective adhesion arrangements, reflecting unilateral terminations where agreement to adapt contracts to the pension funds legal regime (RJFP) could not be obtained, while authorised amendments to open fund management regulations fell as RJFP alignment neared completion. For insurance intermediaries, registrations decreased to 268 (from 281), suspensions increased to 200 (from 173), lifts of suspension rose to 20 (from 11), and cancellations fell to 282 (from 386), mainly due to fewer voluntary cancellations.

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