Malta Insurance Association calls on the Prime Minister

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.