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.
Portuguese Insurance Regulator (ASF) 2026-02-03
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.