Insurance sector in Malta grows significantly

Malta’s insurance sector has experienced significant growth over the past four years.

The Minister of Finance, the Economy and Investment, Tonio Fenech, said that over a 1,000 people are today employed in the insurance sector.

Since 2008, no less than 28 new licenses in this sector were issued by the Malta Financial Services Authority, taking the tally to 54.

The Minister gave these figures during the inauguration of MSV Life’s new Customer Service Centre in Floriana, Malta.

The growth in the insurance sector reflected growth in the wider financial services sector in Malta. This has taken place against the backdrop of international financial turmoil, recession and deep public debt crisis.