Malta has achieved a constant flow of new investment - Tonio Fenech
MSV currently manages over 100,000 policies for 80,000 different customers with 75 employees, 14 of which are young adults with development disabilities.
Minister of Finance Tonio Fenech said that Malta hosts 54 licensed insurance companies, 28 of which have been registered over the past four years, resulting in an increase of over 1,000 jobs in this sector. This amounts to 10% of jobs in the financial services sector, with MSV being the largest indigenous insurance company.
Speaking at the launch of the new MSV customer service centre in Floriana, Tonio Borg said that Malta's stability and economic environment has achieved a constant flow of new investment to the island. The strong services sector, namely financial services, was singled out in the IMF report as the main contributor to Malta's recovery, creating new jobs and wealth.
Europeans continue to face issues, particularly in the Eurozone, which has registered another contraction in the second quarter of 2012. Malta's open economy exposes the island to external risks; however, Malta can be protected by balancing the constraints of fiscal consolidation with a fast-growing economy, the Minister said.
Bank of Valletta Chairman Frederick Mifsud stated that the opening of the new customer care facility in a major step in line with MSV's policy of giving priority to customers' needs. The company is committed to providing a high level of professional services and embraces an inclusive employment opportunity policy. For the past 13 years, MSV has established strong ties with Inspire Foundation, providing training opportunities and exposing young people with disabilities to the world of employment.