Allcare: ‘We are One’
Published:
November 18, 2014 at 3:42pm
Eric Schembri
Alfred Mifsud
Eric Schembri’s and Alfred Mifsud’s company, Allcare Insurance Ltd, which has spent the last year cutting a swathe through government contracts, also insures the Labour Party and its broadcasting company, One Productions.
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Would it not be in the MFSA’s responsibility to ensure that there is no market concentration?
Now that you have brought the matter to light, the MFSA cannot stay silent and should investigate.
These matters are doing the rounds internationally and damaging Malta’s reputation as a financial services centre. No level-headed hedge fund or financial institution would want to be associated with a country rife with this kind of cronyism.
That said, I do know for a fact that the Maltese insurance industry is up in arms as they have been seeing this coming.
Legitimate business relationships (and contracts) which they had nurtured for long have been summarily terminated and new expressions of interests/tenders have been issued. This does not just apply to the insurance business.
You may wish to investigate also the legal contracts given to Mifsud Bonnici Advocates – and that includes Dr. Aaron Mifsud Bonnici’s wife. He is the GWU lawyer.
“I do know for a fact that the Maltese insurance industry is up in arms as they have been seeing this coming”
They should have seen it coming. It was never any different even in the Mintoff years. Those who played ball got included with interesting cession parts and, well, then there were at times, the left-overs.
That lovely outfit Alfred Mifsud is wearing, complete with sandals and Charles Butcher shopping bag – will it be preserved in the projected Museum of Maltese Clothes?