Malta Insurance As­so­ci­a­tion calls on the Prime Min­is­ter

Malta Independent - - BUSINESS & FINANCE -

Rep­re­sen­ta­tives from the Malta Insurance As­so­ci­a­tion, led by its pres­i­dent Ju­lian Mamo, have paid a cour­tesy visit to Prime Min­is­ter Joseph Muscat at the Au­berge de Castille in Val­letta. The As­so­ci­a­tion rep­re­sents the in­ter­ests of insurance com­pa­nies, both in­dige­nous and those rep­re­sent­ing for­eign prin­ci­pals. Sat­is­fac­tion with Malta’s strong eco­nomic per­for­mance was ex­pressed, along with the hope that the insurance sec­tor, one of the main pil­lars of the fi­nan­cial ser­vices in­dus­try, would con­tinue to grow.

Amongst other mat­ters dis­cussed were the re­cent de­vel­op­ments in the lo­cal leg­isla­tive en­vi­ron­ment. The As­so­ci­a­tion’s direc­tor-gen­eral Adrian Galea said that while the As­so­ci­a­tion wel­comes the progress achieved with the in­tro­duc­tion of vol­un­tary, third-pil­lar pen­sions, he hoped that gov­ern­ment’s plans to set up a task force will bring about the long-awaited changes to fa­cil­i­tate long-term sav­ings from an early age work­place pen­sions.

Traf­fic con­ges­tion was also on the agenda of the meet­ing, with the As­so­ci­a­tion’s rep­re­sen­ta­tives re­it­er­at­ing its sup­port for traf­fic-eas­ing mea­sures and safety. Con­cern was ex­pressed re­gard­ing the ap­par­ent in­crease in cer­tain of­fences, such as the use of mo­bile phones while driv­ing – which is be­com­ing a reg­u­lar fea­ture on our roads. They also re­ferred to the need for reg­u­lar en­force­ment, and the in­tro­duc­tion of stiffer mea­sures such as penalty points, to de­ter reck­less be­hav­iour on Mal­tese roads.

The Prime Min­is­ter thanked through the MIA for its con­tri­bu­tion to eco­nomic growth with its pro­mo­tion of the lo­cal insurance in­dus­try, say­ing that the sec­tor has all the right at­tributes to con­tinue to ex­pand and is tak­ing full ad­van­tage of the ben­e­fits of EU mem­ber­ship. He also ex­pressed his hope that more stu­dents would con­sider insurance as their ca­reer of choice, as the in­dus­try can only pros­per if the right tal­ent is avail­able.

A copy of the As­so­ci­a­tion’s re­cent pub­li­ca­tion en­ti­tled Key Facts was also pre­sented to the Prime Min­is­ter, Min­is­ter Prof. Ed­ward Sci­cluna and Min­is­ter Dr. Manuel Mal­lia at the end of the meet­ing.

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