The appointment of Gabriel Rodrigo Ribeiro Tavares Bernardino as the president of the insurance and pension sector supervisor was approved on Thursday in the Council of Ministers.
Gabriel Bernardino, a former president of the Portuguese Securities Market Commission (CMVM), had been nominated in July to succeed Margarida Corrêa de Aguiar, whose term, started in 2019, ended in June.
Bernardino is a mathematician and, between 2011 and 2021, served as the president of the European Insurance and Occupational Pensions Authority (EIOPA).
Leading the ASF marks a return to an institution where he worked for 22 years and served as the general director from 2007 to 2011, prior to taking on roles at the European supervisory level.
During his tenure at EIOPA, he held positions as the rotating president of the joint committee of the three European financial supervisory authorities (EBA, EIOPA, and ESMA), vice-president of the European Systemic Risk Board, and a member of the executive committee of the International Association of Insurance Supervisors.
In October 2021, Bernardino was appointed by the government of António Costa as chairman of the board of directors of CMVM, but he resigned at the end of March 2022 citing “health reasons.”
In 2024, he worked “as a consultant for the World Bank, collaborating in the Financial Sector Assessment Programs (FSAPs),” according to a statement from the Ministry of Finance, confirming his nomination.
The same statement noted that the choice of Gabriel Bernardino reflects the “knowledge of the sector, independence, competence, and experience” required for the role.
The president’s term at ASF lasts six years.
