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