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8 maltatoday | WEDNESDAY • 26 FEBRUARY 2025 BUSINESS Decarbonisation and digitalisation emerge as major challenges at ATTO conference DECARBONISATION and digitalisation emerged as two major challenges shaping the future of the transport and logistics sector during the first international conference or- ganised by the Association of Tractor and Trailer Operators (ATTO). Addressing the conference's opening, ATTO Chairman Jo- seph Bugeja highlighted the sec- tor's evolution over the years, noting ATTO's critical role in shaping policy and advocating for industry needs. Recalling past challenges faced by Mal- tese international road trans- port operators, he underscored the importance of structured dialogue between the govern- ment, authorities, and industry stakeholders. "Notwithstanding the unique challenges that Malta, as an island economy, continues to face, the haulage sector has come a long way through col- laboration and perseverance. ATTO remains committed to ensuring that the interests of our members are safeguard- ed as we transition into an era marked by sustainability and digital transformation," Bugeja said. He also pointed to ATTO's recent milestones, including in- creased membership, stronger alliances with international or- ganisations, and deeper engage- ment with policymakers. While acknowledging the sector's re- silience, he noted that adapting to complex EU regulations, im- proving infrastructure, and em- bracing sustainability remain ongoing priorities. The conference was also ad- dressed by Minister for Trans- port, Infrastructure and Pub- lic Works Chris Bonett who reaffirmed the government's support for the industry and commended ATTO's role in ensuring that Malta remains competitive. "The challenges faced by the transport sector require the united approach that ATTO has been showing through its com- mitment to dialogue and pol- icy-driven solutions that push the industry forward. Investing in our country's transport and logistics infrastructure is not a luxury but a necessity. This is why a stronger, more unified voice is essential for Malta to maintain its connectivity with the rest of the world," Bonett said. The conference served as a platform for the signing of the first official Cooperation Agreement between ATTO and Transport Malta. The agree- ment, signed by Joseph Bugeja and Transport Malta CEO Kurt Farrugia, represents a signifi- cant step in ATTO's efforts to continue strengthening Malta's transport sector and fostering more dialogue with its main stakeholders. Discussions at the conference focused on the EU's decarbon- isation targets and transport digitalisation, both presenting opportunities and challeng- es. While carbon neutrality is crucial, transitioning to bat- tery-electric and alternative fu- el vehicles requires significant investment and infrastructure upgrades. Digitalisation can en- hance efficiency but demands robust regulatory frameworks and technological readiness. Stakeholders, including the IRU, INAG, financial institu- tions, and logistics operators, stressed the need for pragmatic policies balancing sustainability and economic realities. Malta's transition to carbon neutrality is complex, requiring multiple alternative fuels, greater effi- ciency, and multimodal coop- eration. In his closing address, Tony Mifsud, General Secretary of ATTO, underscored the trans- port sector's vital role in Malta's economy and the importance of a united front. "As we navigate the chal- lenges of decarbonisation and digitalisation, a strong, unit- ed voice is essential for Malta to remain connected globally and ensuring that the country's needs are recognised inter- nationally is key to the indus- try's future. Together, we can advocate for tailored policies that address our unique needs and ensure our industry's resil- ience," Mifsud said. ATTO Chairman Joseph Bugeja (right) and Transport Malta CEO Kurt Farrugia (left) signed the first official cooperation agreement between ATTO and Transport Malta HSBC Life Malta has reported that in 2024, for the third con- secutive year, it once again ex- ceeded a 95% claims payout ra- tio. A claim payout ratio is the percentage of claims paid to cus- tomers versus claims assessed. This achievement underscores the company's commitment to providing financial security and support to its valued customers and their families. Commenting on this achieve- ment, HSBC Life Malta's CEO, Gregory Inglott, emphasised the company's unwavering commit- ment to policyholders and its purpose to provide timely and reliable financial support. "At HSBC Life Malta, our focus has always been on delivering reliable financial protection to our policyholders. Maintaining a highly significant claims pay- out ratio for three years running highlights our steadfast commit- ment to providing policyholders with financial security and de- pendable support when they need it most. We remain dedicated to ensuring that our customers and their loved ones receive the sup- port they need during life's most challenging moments." The continued success of HS- BC Life Malta in delivering on its claims commitments is reflected in its strong payout ratio, which covers both individual protec- tion policies such as the Loan Protector Plan and the Personal Protector Plan, providing home loan cover and standalone family protection, as well as the Group Life Plan, which safeguards em- ployees of business and corporate customers. Josef Camilleri, Head of Prod- ucts & Distribution at HSBC Life Malta, added: "When choosing an insurance provider, it's es- sential for customers to not only consider the range of protection products available but also the company's claims payout ratios. A strong payout ratio indicates a provider's ability to deliver on their promises when it matters most, helping ensure that cus- tomers are protected with both financial security and peace of mind. Our products are designed to align with these protection goals, offering clear and depend- able coverage for individuals and businesses alike." HSBC Life Malta records 95% claims payout ratio for third consecutive year