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25.07.19 3 THE Board of Directors of MAP- FRE Middlesea p.l.c., approved the unaudited financial statements of the Group for the financial half year ended 30 June 2019. e consolidated MAPFRE Mid- dlesea Group registered a profit be- fore tax for the first six months of 2019 of €9.83 million, compared to €9.02 million registered during the comparative period last year. e profit after tax and minority interests, allocated to shareholders, amounted to €4.31 million as com- pared to €3.77 million in 2018. e increase in profit was derived from improved non-life business results with the long-term business result marginally lower when compared to previous year. MAPFRE Middlesea p.l.c. has reg- istered a marked improvement in technical results compared to the previous year both in premium writ- ten and combined ratios. Results remain however suscepti- ble to the volatility caused by large event or risk losses which materially impact such results. MAPFRE MSV Life p.l.c. continues to have stable results reflecting the annual management charge on as- sets under management which pro- vides stability to the results shielding them from the impact of fluctuations in the financial markets. e unrealised capital losses in- curred in 2018 have been recovered with rallying markets leading to strong investments yield being at- tained during the first half year. Group's gross premiums written have decreased by 4.6% during the first six months of 2019. General Business turnover increased by 6.1% notwithstanding tough market com- petition, and was derived from or- ganic growth. Life premium written reduced by 6.7% when compared to the previ- ous year with Single premium busi- ness remaining the largest source, with reinvestment rates remaining satisfactory, however reducing due to lower new business sales. e Group continues to maintain its healthy Solvency position as a result of the attained positive results and remains focusing on its strate- gic actions to continue delivering improved results to its sharehold- ers whilst improving efficiency and client satisfaction in line with its mission of being the most trusted insurer. In line with Company policy, the Board of Directors do not propose to pay an interim dividend for the half year ended 30 June 2019 (2018 – nil) MAPFRE Middlesea Group registered a pre-tax profit of €9.83 million for first six months of 2019 KURT SANSONE HELENA Dalli has been nominated as Malta's next European Commissioner after talks between the Prime Minister and European Commission President Ursula von der Leyen. e announcement was made by Jo- seph Muscat on Twitter. e Prime Minister also announced that Edward Zammit Lewis will be appointed Euro- pean affairs and equality minister in- stead of her. Dalli will be Malta's first female Eu- ropean Commissioner, replacing in- cumbent Karmenu Vella. Muscat said she will resign im- mediately to focus on the up- coming grilling process. All nominated commissioners will be scrutinised by the European Parliament in grillings expected to take place in September. If approved, Dalli will take up her European post in October. In her first reaction, Dalli told MaltaToday that she was proud of the trust placed in her by the Prime Minister. "I have always done what was asked of me and if the Prime Minister feels that I should serve in Europe, I am ready to do so. I will con- tinue serving to the best of my ability." Dalli confirmed that she has re- signed and Zammit Lewis will be sworn in as minister tomor- row. "It was important that the work at the min- istry continues, which is why I resigned imme- diately to ensure a smooth handover," Dalli said. "A privilege to serve in Joseph Muscat's Cabinet again" In his first reaction after being nomi- nated minister to replace Helena Dalli, former tourism minister Edward Zam- mit Lewis told MaltaToday that in the ongoing EU budget negotiation, Malta must secure adequate funding for the budgetary period 2021 to 2027. "ere are tough negotiations ahead for the European Affairs Ministry over the forthcoming EU budget that will determine the amount of funds com- ing Malta's way," he said. "We have to secure the necessary funding for mi- gration, the digital economy, human re- sources development, the environment, infrastructure and social policies." Zammit Lewis will be sworn in this morning as European affairs and equal- ity minister. "It is a privilege for me to be able to serve the country again as part of the Joseph Muscat Cabinet. It has always been my wish since the last election to be able to do so after giving my all in Parlia- ment," Zammit Lew- is said. In the last election, Zammit Lewis made it to Parliament through a casual election, missing out on a Cabinet post. Having served as chair of parliament's foreign and European affairs committee since 2017, it is clear that Zam- mit Lewis will put Europe- an affairs top of his ministry's agenda in what could signal a shift in balance from his predecessor's emphasis on equality. e country also has to ensure it re- mains efficient in its use of EU funds, he added. e ministry also faces the Brexit chal- lenge, Zammit Lewis said. "We have to see how what will happen to an impor- tant EU ally like Britain, now under the premiership of Boris Johnson." Asked about the equality portfolio, Zammit Lewis said gender equality would remain top of his agenda. "is ministry will be captained by a man but I subscribe to the agenda pushed by Joseph Muscat and Helena Dalli on gender equality. I will also put emphasis on equality within a wider context and ensure that Malta's position as a role model for the world on LGBTIQ rights will be maintained." Zammit Lewis will have Aaron Farru- gia as his parliamentary secretary. Far- rugia has been concentrating on the Eu- ropean portfolio. "Aaron congratulated me and I am looking forward to work closely with him." Helena Dalli nominated as Malta's next European Commissioner Former tourism minister Edward Zammit Lewis will replace Dalli as European affairs and equality minister Edward Zammit Lewis Helena Dalli

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