Montalvo confirmed as head of Euro-insurance regulator

Euro-MPs have confirmed the appointment of Carlos Montalvo as the head of Europe’s new insurance super-regulator.

Following an open hearing at the European Parliament, MEPs have rubberstamped Montalvo’s appointment as the first executive director of the European Insurance and Occupational Pensions Authority (Eiopa).

38 year old Montalvo was elected by Eiopa’s Board of Supervisors last month.

Montalvo said: “The European institutions made a ground-breaking decision last year to establish the three European Supervisory Authorities and the European Systemic Risk Board. I feel privileged to serve as EIOPA’s first executive director and thank the EIOPA Board of Supervisors and the European Parliament for entrusting me with the establishment and management of EIOPA.”

“This is an ambitious project and we have many challenges ahead of us. Our goal is to establish EIOPA as an effective, efficient and transparent authority that will serve the citizens of Europe. We simply cannot afford to fall short, and we will not.”

Montalvo was secretary general of Eiopa’s predecessor body Ceiops, (the Committee of European Insurance and Occupational Pensions Supervisors), before which he was an insurance supervisor for the Dirección General de Seguros y Pensiones, the Spanish insurance and pensions supervisory authority.