Problems for Middlesea subsidiary persist
Middlesea Insurance said today that while it would be issuing its interim financial statements on Tuesday, the very difficult trading conditions experienced by its Italian subsidiary Progress Assicurazioni SpA referred to in the 2008 annual report and in a May 2009 company announcement, had persisted.
It said these would have a material adverse impact on the half-yearly results.
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F Borg
Aug 22nd 2009, 08:12
@T Psailia and some others
Foreign like the likes of EagleStar, Lehman Bros, AIG, RBS, Northern Rock and the thousands that they left stranded behind!
What is at stake here is Middlesea’s overseas operation. Middlesea remains locally a strong and reliable insurer. This is an eye opener for Middlesea to focus on local operations.
f farrugia
Aug 21st 2009, 21:19
thats why i invest in hsbc life. had a single premiun done with hsbc life that matured recently. got capital back plus interest. The guy who explained the mechanics how it works a certain patrick who worked at fgura is a real gentle man and I remommend him,unfortunately I do not know where he is working now.
Tony Micallef
Aug 21st 2009, 19:27
Investors should go and get all assets before it's too late ! Like I did !!
T psaila
Aug 21st 2009, 19:24
Middle sea never was good ! Foriegn Insurance companies were good ! We had gone backwards 20 years, without them , service is totally zero ! IL PRODOTT MALTI TAL -INSURANCE = ARGUMENTI BIX IHHALSUK !!
Joseph Falzon
Aug 21st 2009, 16:13
I don't think it's worth investing. Can anyone from Middlesea reply to the questions / comments raised by Mr J Debono & Mr R Abela & A Abela. What is happening here. Why investors are still being kept in the dark.
J Debono
Aug 21st 2009, 14:55
Will somebody tell us what is going to happen to our life insurance policy and will they be able to pay up on Maturity.
Will it be a bad idea to continue to pay the monthly fee or should it be stopped now?
R Abela
Aug 21st 2009, 14:30
Where was the internal audit in these years? Clearly this is not an outcome from an insurance event but non compliance to Italian legislation and financial oversight. Is it not the purpose of the internal audit to prevent such a shock?
T Cilia
Aug 21st 2009, 11:41
Mr Joe Galea is right in putting forward this question! Investors should be enlightened at this point!!!
Joe Galea
Aug 21st 2009, 07:58
Does this mean that we will lose all the money invested in a life insurance with Middlesea?
A Abela
Aug 20th 2009, 13:33
What is the regulator doing on the matter?
M. Baron
Aug 20th 2009, 01:07
aah that may explain the difficulties i had with he company recently
James Attard
Aug 19th 2009, 20:46
does not look good, for middlesea!!! what is it going to happen now?