Malta’s largest life in­surance com­pany re­brands to MAPFRE MSV Life

Malta Independent - - BUSINESS & FINANCE -

As from Mon­day 21st Novem­ber, MSV Life will be chang­ing its name to MAPFRE MSV Life, strength­en­ing its brand through a vis­i­ble and strong as­so­ci­a­tion with an in­ter­na­tional player that has the vi­sion to be the most trusted global in­surance com­pany.

David Curmi, CEO of MAPFRE MSV Life said: “We are de­lighted to for­mally launch the MAPFRE MSV Life brand. This is a log­i­cal evo­lu­tion that en­ables us to take full ad­van­tage of our as­so­ci­a­tion with the MAPFRE Group. It adds a new layer of value by creat­ing a clearly iden­ti­fi­able con­nec­tion to the MAPFRE Group, giv­ing our com­pany an im­por­tant in­ter­na­tional di­men­sion.”

John Cas­sar White, chair­man of MAPFRE MSV Life said: “The MAPFRE MSV Life brand re­tains the lo­cal strength of MSV Life – a pub­licly known brand with strong lo­cal pa­tron­age and ex­cel­lent rep­u­ta­tion. It is un­der­pinned by its close con­nec­tion to the Bank of Val­letta Group and has the largest in­surance dis­tri­bu­tion foot­print on the is­land, a net­work that com­prises Ban­cas­sur­ance agree­ments as well as Tied In­surance In­ter­me­di­aries and Bro­ker re­la­tion­ships. The link­age of the MAPFRE brand to MSV Life will re­in­force, strengthen and en­rich our iden­tity as Malta’s largest life in­surance com­pany.”

Martin Galea, chair­man of MAPFRE Mid­dle­sea plc said: “We are con­fi­dent that the new brand iden­tity will con­tinue to strengthen the over­all pres­ence of the MAPFRE brand in Malta as it will now be vis­i­ble through the op­er­a­tions of both MAPFRE Mid­dle­sea as well as MAPFRE MSV Life. We are con­fi­dent that the strong syn­er­gies within our Group en­able us to lever­age a wealth of re­sources as we seek to con­tinue to de­liver added value prod­ucts and ser­vices through the strong­est multi-chan­nel dis­tri­bu­tion net­work in our ter­ri­tory.”

MAPFRE is a global in­surance com­pany present on the five con­ti­nents. It is the bench­mark in­surer in the Span­ish mar­ket, the lead­ing multi­na­tional in­surance group in Latin Amer­ica and one of the top 10 in­surance com­pa­nies in Europe in terms of pre­mium vol­ume. MAPFRE em­ploys more than 38,000 pro­fes­sion­als and ser­vices ap­prox­i­mately 34 mil­lion clients. In 2015 MAPFRE’s rev­enue sur­passed €26,700 mil­lion, with net earn­ings of €709 mil­lion.

MAPFRE’s mis­sion, as a multi­na­tional team, is to work to con­stantly to im­prove its ser­vices and de­velop the best re­la­tion­ship with its clients, dis­trib­u­tors, sup­pli­ers, share­hold­ers and so­ci­ety at large. It em­braces the val­ues of sol­vency, in­tegrity, com­mit­ment to ser­vice, in­no­va­tion for lead­er­ship and a com­mit­ted team.

Bank of Val­letta (BOV) is Malta’s largest fi­nan­cial in­sti­tu­tion that pro­vides a wide range of bank­ing and fi­nan­cial ser­vices through its multi-chan­nel dis­tri­bu­tion net­work which in­cludes branches, in­vest­ment and busi­ness cen­tres spread all over the Mal­tese Is­lands. BOV also op­er­ates the largest ATM net­work in Malta and of­fers in­ter­net and mo­bile bank­ing ser­vices to its cus­tomers. The bank has a well-de­vel­oped world­wide net­work of cor­re­spon­dent banks that pro­vide it with the nec­es­sary back­bone to ser­vice its cus­tomers in in­ter­na­tional bank­ing and trade trans­ac­tions. It also has a num­ber of rep­re­sen­ta­tive of­fices in other coun­tries, namely, Aus­tralia, Bel­gium and Italy.

“We are con­fi­dent that the new brand iden­tity will sup­port the sus­tained growth and de­vel­op­ment of MAPFRE MSV Life as we seek to con­tinue to sup­port our cus­tomers while con­sol­i­dat­ing our lead­er­ship po­si­tion in the mar­ket,” Mr Curmi said. He ex­plained that MAPFRE MSV Life is mak­ing sig­nif­i­cant in­vest­ments in dig­i­tal trans­for­ma­tion that will en­able it to con­tinue to pro­vide a com­pelling and rel­e­vant cus­tomer value propo­si­tion to its var­i­ous cus­tomer seg­ments.

MAPFRE MSV Life con­tin­ues to be un­der­pinned by a strong brand prom­ise built on trust. The brand is also sup­ported by a clear strat­egy that is fo­cused on strong cus­tomer ori­en­ta­tion, op­er­a­tional man­age­ment ex­cel­lence, pro­fes­sion­al­ism and cul­ture and hu­man tal­ent.

“We are ex­cited and proud to em­brace the MAPFRE brand as we are em­bark­ing on a very chal­leng­ing jour­ney and look­ing at an ex­cit­ing new phase of growth and de­vel­op­ment. As a mem­ber of the MAPFRE Group, we are con­fi­dent that our strong brand and fi­nan­cial cre­den­tials will be a crit­i­cal suc­cess fac­tor go­ing for­ward that will en­able us to bet­ter ser­vice our cus­tomers and con­tinue to con­tribute to­wards the de­vel­op­ment of the life in­surance mar­ket in Malta,” con­cluded Mr. Curmi.

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