Representatives from the Malta Insurance Association led by the President, Mr. Julian Mamo, paid a courtesy visit to the Prime Minister, Hon. Dr. Joseph Muscat at the Auberge de Castille, in Valletta. The MIA represents the interests of insurance companies, both indigenous and those representing foreign principals. Both sides expressed their satisfaction at the strong economic performance that Malta is going through and augured that the insurance sector, one of the main pillars within the financial services industry, continues to grow.
Amongst other things, the two sides discussed recent developments within the local legislative environment. The Director General, Mr. Adrian Galea stated that while the MIA welcomes the progress achieved with the introduction of voluntary, third pillar pensions, he augured 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 through workplace pensions.
Traffic congestion was also on the agenda of the meeting with the MIA delegation reiterating its support for traffic-easing measures and safety. The MIA delegation expressed its concern at the apparent increase in certain offences, such as the use of mobile phones which are becoming a regular feature on our roads. The MIA reiterated 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 the MIA for its contribution to economic growth through promoting the local insurance industry. The sector has all the right attributes to continue to expand and is taking full advantage of the benefits of European Union membership. He also augured that more students consider insurance as their career of choice as the industry can only prosper if the right talent is available.
MIA's recent publication 'Key Facts' was also presented to the Prime Minister, Dr. Muscat, Minister Prof. Edward Scicluna and Minister Dr. Manuel Mallia at the end of the meeting