Junior Minister offers government’s commitment in sustaining insurance market

Parliamentary secretary Edward Zammit Lewis has pledged government's support in helping the domestic insurance market grow.

Zammit Lewis was addressing a meeting of the Malta Insurance Management Association (MIMA). 

Zammit Lewis said that MIMA, together with the MFSA and with the support of FinanceMalta, have been largely responsible for the growth of the international insurance market in Malta. 

He said that government would continue seeking broad consensus in Parliament on all the matters of financial services including the insurance industry. 

"This is one of the major pillars of our economy and as a new Government we are confident that we will continue to work very closely with the private industry and associations such as MIMA to ensure that the local market continues to develop and grow in a fast and sustained rate," he said. 

Zammit Lewis said growth in this area always resulted in increased number of job opportunities for those working in the industry.

"In this respect the new Government is committed to ensure that the University of Malta, MCAST and all other teaching and training institutions such as the Malta Insurance Training Centre continue to offer the right training and education for our students wishing to enter the financial services industry," he said.

Zammit Lewis said government was very supportive of the efforts made at the University to maintain a course of studies in Insurance within the Faculty of Economics, Management and Accounting.

"We acknowledge that this course at University would be impossible to maintain without the support of many leading industry participants who offer their support and volunteer their time and energy," he said.