Man files judicial protest against Eagle Star

A man offered half the value of his insurance policy in settlement filed a judicial protest in the First Hall of the Civil Court against Eagle Star (Malta) Ltd and Eagle Star Insurance Company Limited, calling upon the companies to render accounts.

Carmelo Bonnici told the court that in 1989 he had taken out an insurance policy and was told, in writing, that the estimated maturity value of the policy was 132,025.15 euros.

However, when the policy matured, Mr Bonnici was only offered the sum of 66,664.16 euros in settlement.

Mr Bonnici told the court he refused this sum as it did not reflect the true value of the policy. The offer indicated a seriously lacking investment strategy on the part of the companies and also suggested abusive action. He called upon the companies to give him, within five days, an account of the investments made and to pay him the money that reflected the policy's maturity value.