Stronger Insurance Sector Through Regulation And Opportunities For Growth

"The Maltese Government is determined to keep giving Malta's insurance sector the attention it requires to expand its contribution to the economy and increase its capacity to generate employment," the Minister for Finance Prof. Edward Scicluna said. Prof. Scicluna was speaking during the 5th Malta International Risk and Insurance Congress, which was held on Wednesday 11th June 2014 at the Westin Dragonara.

Prof Scicluna noted that in the non-life insurance sector, annual premiums have reached €1.6 billion, a full 15% increase on the previous year.

Furthermore while motor, fire and other property damage, accident and health classes represent the strongest areas of activity, substantial amounts of activity in other areas including aviation, marine and transport, as well as general liability, also account for a significant amount of business.