The President of Malta at Middlesea’s 25^th Anniversary dinner

A pleasant summer’s evening, a unique venue, good food and excellent company – these were the ingredients of Middlesea Insurance plc’s 25^th anniversary dinner.  The event, which was attended by various distinguished guests including directors, business associates, representatives of major corporate foreign and local shareholders, representatives from international reinsurers and other guests, was held under the distinguished patronage of the President of Malta, H.E. Dr Edward Fenech Adami and Mrs Fenech Adami.  Prior to the dinner, guests were regaled with the dulcet voice of soprano Ms Gillian Zammit, who sang through a repertoire of selected arias.

After the dinner, the Chairman of Middlesea Group, Mario C. Grech, referred to the four fundamental keystones of Middlesea’s success story.  The first, and most essential, was the importance given to the education, training and continued professional development of the human resource through the establishment of the training centre in 1981.  Secondly, Middlesea embraced change, looked at the opportunities that were created, and grasped such opportunities.  Thirdly, from establishment, the Board of Directors and Management identified the importance of going beyond Malta’s shores to register continuous growth, and, last, Middlesea consistently followed principles of best practice in the application of corporate governance and adoption of corporate social responsibility.  These fundamentals were still applicable today and would remain so for the future.

Mr Grech said, “The future challenges were undoubtedly shadowed by numerous imponderables.  However, as in the past, any future success was totally dependent on a clear strategic direction and the resolve to succeed in the creation of wealth for shareholders, motivation of management and staff, and satisfaction for customers and stakeholders.  With prudent optimism, I, together with the Board of Directors, Management and Staff, feel confident of our collective ability to succeed in attaining our objectives, through our involvement in the financial services industry both locally and overseas.”  He then thanked all shareholders past and present who had shown their trust in the company and who therefore contributed to make Middlesea a success.

In the closing speech, H.E. Dr Edward Fenech Adami said, over the years, he had closely followed the progress that had been achieved by Middlesea.  Twenty five years ago, the company was set up and the people then involved had a vision of what the company ought to be.  It was primarily an achievement of the chairmen and the various boards over the years, whose collective dedication, vision and foresight ensured that the company would progress to where it is today.  Coupled with this was the evolution of Malta, under various administrations, into an international financial services centre of repute, an achievement that all were proud of.  It was a collective vision which will continue to offer real growth to the Maltese financial services industry.

Dr Fenech Adami concluded, “We have sought and identified niches where economic growth could be obtained.  In no small measure, Middlesea has shown that the way we can thrive is by using our skills, our ingenuity and putting together the best efforts that our people can provide.  We have thereby gained credibility.  The result is 25 years of success”.

Mr Grech then presented Dr Fenech Adami with a memento to mark the occasion.