MSV Life was initially established in September 1994 as Middlesea Valletta Life Assurance Company Limited between three partners - Middlesea Insurance p.l.c. (51%), Bank of Valletta p.l.c. (39%) and Munich RE (10%). In September 2005, Bank of Valletta acquired from Munich RE its 10% shareholding in the company. Bank of Valletta also acquired a further 1% holding in the company from Middlesea Insurance p.l.c. Middlesea Valletta Life Assurance Company Limited changed its name to MSV Life p.l.c. in November 2010.
MSV Life is today jointly owned by Bank of Valletta p.l.c. and Middlesea Insurance p.l.c., Malta’s leading non-life insurance provider and a subsidiary of the MAPFRE Group.
MSV Life’s core range of products, rank amongst the highest in the market in terms of quality, performance and price. MSV Life is committed to provide the highest standards of service to its customers, policyholders and intermediaries and to focus on product innovation to fulfil the evolving demands of its customers.
David G. Curmi, MSV Life’s CEO explained “our success and reputation depends not only on the quality of our products and client service but also on the manner in which we conduct our business. MSV’s core values are honesty, integrity, security, high ethical standards, confidence and people development.”
Mr. Curmi added “our average client relationship is between 15 and 20 years, we would not be able to achieve that if we did not provide an exceptional level of service and continually develop products which directly meet the needs of the consumer. We sell long term policies therefore we need to earn the lifetime loyalty of all our customers. We do not just want to sell a policy or a service we want to sell an experience.”
MSV Life was the first Maltese insurance company to launch a “Customer Charter –Treating Customers Fairly” which outlines MSV Life’s key service commitments to its customers and demonstrates the importance which MSV Life gives to its customers.
MSV Life believes that its Corporate Social Responsibility Policy is an integral part of its business philosophy which puts the customer first, values its employees, seeks excellence in its operations and contributes to make the community and society at large better places in which to live, work and grow. MSV Life has always felt that it had a duty to be engaged, even though in a relatively modest way, in making a contribution to the benefit of society of which it forms part. Since its inception in 1994, MSV Life has regularly extended a helping hand to a number of NGOs and other institutions engaged in initiatives and activities in such areas as charity, rehabilitation, natural heritage, culture, arts, sports and the environment, all of which add value to and promote the well-being of the society and community in which it operates.
MSV takes particular pride in having been a strong believer in and promoter of equal opportunity employment and has consistently employed persons with disability through a collaborative scheme with Inspire. This scheme provides for the secondment to MSV Life of a number of persons with developmental disabilities, assisted by two trained Facilitators.
MSV Life has been a success since its establishment and is firmly recognized as a customer driven organization, which places its customers at the forefront of its mission. MSV boasts of a strong reputation in the market with several years of experience, professionalism and a highly qualified workforce.
MSV Life is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance Business Act 1998.