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MAPFRE MSV Life p.l.c. declares 2019 Bonuses

MAPFRE MSV Life
On 3 March 2020, MAPFRE MSV Life p.l.c. announced the bonus rates for With Profits policies for the year ended 31 December 2019. 
 
A Regular Bonus Rate of 2.85% was declared on the Company’s core products namely the Comprehensive Flexi Plan (regular and single premium policies), the Single Premium Plan and on the With Profits options of the Investment Bond, Retirement Plan and the Personal Pension Plan. 
 
A Regular Bonus Rate of 2.75% was declared on the Comprehensive Life Plan (regular and single premium policies) whilst on the ‘Old Series’ Endowment and Whole Life policies, a Regular Bonus of 2% of the basic sum assured plus bonuses was declared. 
 
The 2019 Regular Bonus Rates represent an increase of 0.50% from the 2018 declaration. 
 
In addition, the Board also announced the declaration of a Final Bonus in respect of Comprehensive Life Plans (Single and Regular Premium), Comprehensive Flexi Plans (Single and Regular Premium) and Single Premium Plans that have been in force for more than 10 years. For the Comprehensive Life Plan (Regular Premium), a Final Bonus of 1.10% has been declared for every year in force after the 10th year of the policy whilst for the Comprehensive Flexi Plan (Regular Premium), a Final Bonus of 1% has been declared for every year in force after the 10th year of the policy.   
 
For Single Premium policies the Final Bonus is, for the first time, expressed as a combination of a flat percentage plus an additional percentage for every year in force after the 10th year of the policy. For the Single Premium Plan and the Comprehensive Flexi Plan (Single Premium) a flat Final Bonus Rate of 12.5% will be paid on the value of the policy account plus an additional percentage of 1% for every year in force after the 10th year of the policy, whilst for the  Comprehensive Life Plan (Single Premium), a flat Final Bonus Rate of 12.5% will be paid on the value of the policy account plus an additional percentage of 2% for every year in force after the 10th  year of the policy.
 
Final Bonuses will be paid on the value of the Policy Account as at the date of death or maturity between 1 April 2020 and 31 March 2021.
 
The Board also approved a Regular Bonus of 2.75% on those Secure Growth policies which formed part of the portfolio of business transferred to MAPFRE MSV Life from Assicurazioni Generali S.p.A. during 2000. Finally the Board also approved a Regular Bonus of 1.35% on the ALICO 78 policies and a Regular Bonus of 1.6% on the ALICO 66 policies which formed part of the portfolio of business transferred to MAPFRE MSV Life in 2011 from American Life Insurance Company (“ALICO”).
 
 
The MAPFRE MSV With-Profits Fund increased by 13.8% from €1.89 billion in 2018 to €2.15 billion at 31 December 2019. The total investment return of the Fund amounted to €222.9 million recovering strongly from the negative €43.1 million downturn in 2018. 
 
Notwithstanding the prudent investment policy adopted by MAPFRE MSV Life, past performance is no guarantee for the future. Although MAPFRE MSV Life’s with-profits investments have generally provided policyholders with stable and satisfactory returns when compared with other similar investment products, in the light of the current uncertainty in the capital markets, investment returns could fluctuate further. Fair value movements and investment returns impinge directly on the rates of bonuses declared by the Company. Regular Bonuses are therefore expected to vary over the lifetime of the policy whilst Final Bonuses are likely to be highly volatile and very dependent on the investment performance of the Company.
 
The Chairman of MAPFRE MSV Life, Mr. John Cassar White stated, “2019 turned out to be a very good year for investors. The MAPFRE MSV With-Profits Fund returned a net return of 11.71% reflecting strong gains in most asset classes in its portfolio. Considering the Fund’s conservative nature and balanced allocation, we consider the 2019 return highly satisfactory. Notwithstanding the positive investment returns registered in 2019, difficult investment markets feature heavily in the outlook for the life insurance industry. We see signs of economic stabilization in the year ahead, and we expect investors to have to contend with many unforeseen events and market swings as policy uncertainty remains high and geopolitical risk is an ongoing concern. Monetary policy is likely to remain accommodative and interest rates low to negative. Amid slow global economic growth, rising political uncertainty and low yield environment we will consider whether to diversify the asset allocation of the MAPFRE With Profits Fund further beyond the comfort of conventional asset classes, tilted towards areas of extra return with a cautious approach aiming for better risk-adjusted returns. Going forward, Regular Bonuses are therefore expected to vary over the lifetime of the policy whilst Final Bonuses are likely to be highly volatile and very dependent on the investment performance of the Company.”
 
The Chief Executive Officer of MAPFRE MSV Life, Mr. David G. Curmi, stated, “the money of our With Profits policyholders is invested in the MAPFRE MSV Life With Profits Fund. With assets under management of over €2.15 billion and over 78,000 With Profits policies in force, the MAPFRE MSV Life With Profits Fund is one of the largest managed savings funds in Malta. The size and strength of our Fund allows us to invest in a very wide range of global assets. The objective of the MAPFRE MSV Life With Profits Fund is to offer competitive long-term real returns by smoothing the peaks and troughs of day-to-day market movements whilst at the same time providing an underlying capital guarantee. This means that With Profits investments remain a good choice for investors seeking steady growth from a spread of investments over the longer term with some downside protection. In uncertain times, the benefits of smoothing and guarantees can provide advantages to With Profits policyholders over other forms of investment.”
 
Mr. Curmi concluded, “With Profits policies contain four important features that are not generally found in other comparable investments. Firstly, the amount invested, after product charges, is guaranteed to be repaid on maturity or death if it occurs earlier. Secondly, Regular Bonuses are added to the investment each year. Once paid, Regular Bonuses are guaranteed and cannot be withdrawn. Thirdly, if the investment is kept for more than 10 years a Final Bonus may be paid at maturity or death depending on the performance of the Fund and lastly With Profits policies are tax efficient. Our wider message is that MAPFRE MSV Life With Profits policyholders have the added confidence of knowing they hold a safe, time-tested and tax-efficient investment through participation in the MAPFRE MSV Life With Profits Fund, a conservative and diversified portfolio of assets that embraces a robust investment management process and which has delivered consistent returns that compare well with those achieved from alternative investments but with relatively lower levels of volatility.”
 
 
MAPFRE MSV Life p.l.c. (C-15722) is authorised by the Malta Financial Services Authority (MFSA) to carry on long term business under the Insurance Business Act, Cap 403 of the Laws of Malta. MAPFRE MSV Life p.l.c. is regulated by the MFSA.  
 
Tax treatment depends on individual circumstances and is based on current Tax legislation which may change in the future. Investment returns can go down as well as up and the past is not necessarily a guide to future performance. Changes in the rate of exchange of currencies may also affect the value of investments. 
Com. No: MMSV040320/1.
 
 
 
 
 
 
 
 
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MAPFRE MSV Life p.l.c. declares 2019 Bonuses
 
MAPFRE MSV Life p.l.c. tiddikjara l-Bonuses għall-2019 
 
Fil-3 ta’ Marzu 2020, MAPFRE MSV Life p.l.c. habbret ir-rati ta’ bonus ghal With Profits policies ghas-sena li ntemmet fil-31 ta’ Dicembru 2019.
 
Gie dikjarat Regular Bonus Rate ta’ 2.85% fuq il-prodotti ewlenin tal-Kumpanija primarjament il-Comprehensive Flexi Plan (kemm il-poloz single premium kif ukoll dawk ta’ regular premium), is-Single Premium Plan u l-With Profits options ta’ l-Investment Bond, Retirement Plan u Personal Pension Plan.  
 
Regular Bonus Rate ta’ 2.75% gie dikjarat fuq il-Comprehensive Life Plan (kemm il-poloz single premium kif ukoll dawk ta’ regular premium) filwaqt li fuq il-poloz ‘Old Series’ Endowment u Whole Life, gie dikjarat Regular Bonus ta’ 2% tas-somma bazika assigurata u l-bonuses.
 
Ir-Regular Bonus Rates ta’ l-2019 jirrapprezentaw zieda ta’ 0.5% fuq dawk dikjarati fl-2018.
 
Barra minn hekk, il-Bord approva wkoll id-dikjarazzjoni ta’ Bonus Finali fuq il-Comprehensive Life Plans (single u regular premium), Comprehensive Flexi Plans (single u regular premium) u Single Premium Plans għal poloz li ilhom għaddejjin għal aktar minn 10 snin. 
 
Fuq il-Comprehensive Life Plans (regular premium) gie dikjarat bonus finali ta’ 1.1% ghal kull sena wara l-10 sena tal-polza filwaqt li fuq il-Comprehensive Flexi Plans (regular premium) gie dikjarat bonus finali ta’ 1% ghal kull sena wara l-10 sena tal-polza.
 
Il-Bonus Finali fuq poloz Single Premium ghall-ewwel darba jikkonsisti f’ammont fiss espress bhala persentagg kif ukoll persentagg addizzjonali ghal kull sena wara l-10 sena tal-polza. Fuq Single Premium Plans u Comprehensive Flexi Plans (Single Premium) li ilhom għaddejjin għal aktar minn 10 snin, ser jithallas Bonus Finali fiss ta’ 12.5% fuq il-valur tal-policy account kif ukoll persentagg addizjonali ta’ 1% ghal kull sena li l-polza tkun ilha ghaddejja wara l-10 sena tal-polza. Fuq il-Comprehensive Life Plans (Single Premium) li ilhom ghaddejjin ghal aktar minn 10 snin, ser jithallas Bonus Finali fiss ta’ 12.5% fuq il-valur tal-policy account kif ukoll persentagg addizjonali ta’ 2% ghal kull sena li l-polza tkun ilha ghaddejja wara l-10 sena tal-polza. 
 
 
Sakemm ir-rati ta’ bonus finali ma jinbidlux fil-frattemp, il-bonus finali se jitħallas fuq il-valur tal-Policy Account irreġistrat fid-data tal-mewt jew tal-maturità bejn l-1 ta’ April 2020 u l-31 ta’ Marzu 2021. 
 
Il-Bord approva wkoll Bonus Regolari ta’ 2.75% fuq dawk il-poloz tas-Secure Growth li kienu parti mill-portafoll li ġie ittrasferit lill-MAPFRE MSV Life mill-Assicurazioni Generali S.p.A. fis-sena 2000. Finalment, il-Bord approva wkoll Bonus Regolari ta’ 1.35% fuq il-poloz ALICO 78 u Bonus Regolari ta’ 1.6% fuq il-poloz ALICO 66 li kienu parti mill-portafoll ittrasferit lill-MAPFRE MSV Life fl-2011 mill-American Life Insurance Company (“ALICO”).
 
Il-MAPFRE MSV With Profits Fund kiber b’13.8% minn €1.89 biljun fil-31 ta’ Dicembru 2018 ghal €2.15 biljun fil-31 ta’ Dicembru 2019. Il-Fund irregistra dhul totali mill- investiment ta’ €222.9 miljun kumparat ma’ ritorn negattiv ta’ €43.1 miljun fl-2018. 
 
Minkejja l-investment policy prudenti addottata mill-MAPFRE MSV Life, ir-rizultati tal-passat m’humiex garanzija tal-futur. Ghalkemm l-investimenti With Profits tal-MAPFRE MSV Life generalment ipprovdew lill-policyholders dhul stabbli u sodisfacenti meta mqabbel ma’ prodotti simili ta’ nvestiment, fid-dawl ta’ l-incertezzi li bhalissa qed jikkaratterizzaw is-swieq kapitali, id-dhul mill-investmenti jista’ jara aktar caqliq il-fuq u l-isfel. Il-Fair value movements u d-dhul mill-investimenti ghandhom effett dirett fuq ir-rati ta’ bonuses iddikjarati mill-Kumpanija. Il-Bonuses Regolari huma ghalhekk mistennija li jvarjaw tul is-snin li polza tkun ghaddejja filwaqt li l-bonuses finali huma mistennija li jkunu volatili ferm u jiddependu hafna mill-andament ta’ l-investimenti tal-Kumpanija.
 
 
Ic-Chairman tal- MAPFRE MSV Life, is-sur John Cassar White qal, “L-2019 kienet sena tajba hafna ghall-investituri. Il-MAPFRE MSV With-Profits Fund kellu dhul nett ta’ 11.71%, riflessjoni ta’ andament b’sahhtu f’hafna mill-kategoriji ta’ assi li hemm fil-portafoll tal-Fund. Meta wiehed jikkonsidra in-natura konservattiva tal-Fund u l-allokazzjoni bilancjata tieghu, ahna nikkonsidraw id-dhul ta’ l-2019 bhala sodisfacenti hafna. Minkejja d-dhul mill-investimenti pozittiv registrati fl-2019, hemm stennija ta’ swieq ta’ investiment difficli fl-industrija ta’ l-assikurazzjoni fuq il-hajja. Hemm sinjali ta’ stabilizzazzjoni ekonomika fis-sena li gejja u nistennew li l-investituri ser ikollhom jiffaccjaw fatturi mhux mistennija u volatilita’ fis-swieq hekk kif l-incertezza fuq livell ta’ policy tibqa gholja u riskji geopolitici jibqhu ikunu prezenti. Il-politika monetarja mistennija tibqa akkomodanti b’rati ta’ imghax baxxi ghal negattivi. F’xenarju ta’ tkabbir ekonomiku globali kajman, zieda fl-incertezza politika u ambjent ta’ dhul baxx, ser nikkunsidraw jekk niddiversifikawx aktar l-asset allocation tal-MAPFRE With Profits Fund lill’hinn minn klassijiet ta’ assi konvenzjonali lejn oqsma ta’ dhul addizzjonali permezz ta’ metodolojija kawta diretta sabiex tikseb risk-adjusted returns ahjar. Ghal li gej, il-bonuses regolari huma ghalhekk mistennija jvarjaw tul it-terminu tal-polza filwaqt li l-bonuses finali huma mistennija li jkunu volatili ferm u jiddependu hafna mill-andament ta’ l-investimenti tal-Kumpanija.”
 
Il-Kap Ezekuttiv tal-MAPFRE MSV Life, is-sur David G. Curmi, qal, “il-flus tal-With Profits policyholders taghna huma nvestiti fil-MAPFRE MSV Life With Profits Fund. B’aktar minn €2.15 biljun ta’ assi investiti u b’aktar minn 78,000 polza attiva, il-MAPFRE MSV With Profits Fund huwa wiehed mill-akbar managed savings funds f’Malta. Id-daqs u s-sahha tal-Fund taghna jippermettielna ninvestu f’firxa wiesgha hafna ta’ assi globali. L-għan tal-MAPFRE MSV Life With Profits Fund hu li joffri dhul rejali fit-tul li huwa kompetittiv u li jkun relattivament stabbli kumparat mal-volatilita tas-swieq finanzjarji filwaqt li jipprovdi garanziji relattivi fuq il-kapital. Dan ifisser li l-investimenti With Profits għadhom għażla tajba għal investituri li jfittxu tkabbir kontinwu minn firxa ta’ investimenti fit-tul b’ċerta protezzjoni. Fi żminijiet ta’ inċertezza, il-benefiċċji tal-bilanċ bejn dħul u garanziji jagħtu vantaġġ lil minn jinvesti fil-With Profits fuq forom oħra ta’ investiment.”
 
Is-sur Curmi kkonkluda, “Poloz li jinvestu fil-With Profits Fund ghandhom erba’ elementi mportanti li wiehed mhux normalment isib f’investimenti ohra kumparabbli. L-ewwel nett, l-ammont investit wara li jitnaqqsu l-ispejjez tal-prodott huwa garantit li jigi mhallas lura meta l-polza timmatura jew f’kaz ta’ mewt jekk din tigri qabel. It-tieni, bonuses regolari jigu mizjuda ma’ l-investiment kull sena. La darba jithallsu, il-bonuses regolari huma garantiti u ma jistghux jittiehdu lura. It-tielet, jekk l-investiment jinzamm ghal perjodu ta’ aktar minn 10 snin, jista’ jithallas bonus finali meta’ l-polza timmatura jew f’kaz ta’ mewt liema bonus jiddependi mill-andament tal-Fund. Fl-ahharnett, il-poloz With Profits huma efficjenti ghal fini ta’ taxxa. 
 
Il-messaġġ aktar wiesgha tagħna huwa li min ghandu polza With Profits maghna ghandu s-serhan tal-mohh ghax jaf li ghandu investiment fiż-żgur, li ghadda mill-prova taż-żmien, u effiċjenti f’termini ta’ taxxa permezz tal-parteċipazzjoni fil-MAPFRE MSV Life With Profits Fund, li huwa portafoll konservattiv u diversifikat ta’ assi li jinkludi proċess robust fl-immaniġġjar tal-investimenti li ta’ qligħ konsistenti u li jħabbatha ma’ investimenti miksubin minn investimenti alternattivi iżda b’livelli ta’ volatilità relattivament aktar baxxi.”
 
 
 
MAPFRE MSV Life p.l.c (C-15722) hija awtorizzata mill-Awtorità għas-Servizzi Finanzjarji ta' Malta (MFSA) biex tmexxi negozju tal-assigurazzjoni fit-tul taħt l-Att dwar il-Kummerċ tal- Assigurazzjoni, Kap 403 tal- Liġijiet ta’ Malta. MAPFRE MSV Life p.l.c. hija regolata mill-MFSA.
 
 
Trattament tat-taxxa jiddependi minn cirkostanzi ndividwali u bbazat fuq il-legislazzjoni tat-Taxxa prezenti li jista’ jinbidel fil-futur. Il-qligħ mill-investiment jista’ jinżel jew jitla’, u l-passat mhuwiex neċessarjament gwida għar-riżultati fil-futur. Anki t-tibdil fir-rata tal-kambju tal-muniti jista’ jaffettwa l-valur tal-investimenti. 
 
COM: MMSV040320/1
 
Kuntatti:
 
David G. Curmi – Chief Executive Officer
T: 2590 9223
E: davidgc@msvlife.com
 
David Demarco – Chief Financial Officer
T: 2590 9341
E: davidd@msvlife.com
 
 
Michael Galea – Chief Offcier Business Development 
T: 2590 9356
E : michaleg@msvlife.com
 
 
MAPFRE MSV Life p.l.c.
The Mall
Triq il-Mall
Floriana FRN1470
Malta
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