Issue link: https://maltatoday.uberflip.com/i/963162
44 Events maltatoday SUNDAY 8 APRIL 2018 THE Board of Directors of MAP- FRE MSV Life p.l.c. approved a resolution whereby differential rates of Regular Bonuses were de- clared in respect of With Profits plans held with MAPFRE MSV Life for the year ended 31 De- cember 2017. These amounted to 3.10% in respect of the Compre- hensive Flexi Plan (regular and single premium policies), 3.10% under Single Premium Plan, 3.10% in respect of the Personal Pension Plan, 3.10% under the With Profits options of the Investment Bond and of the Retirement Plan and 3% for the Comprehensive Life Plan (regular and single premium poli- cies). On the 'Old Series' Endow- ment and Whole Life policies, a Regular Bonus of 2.25% of the ba- sic sum assured plus bonuses was declared. In addition, the Board also ap- proved the declaration of a Final Bonus in respect of the Com- prehensive Life Plan (single and regular premium) and the Com- prehensive Flexi Plan (single and regular premium), for policies that have been in force for more than 10 years. The Final Bonus will be paid on claims payable as a result of death or maturity between 1 March 2018 and the next bonus declaration, at a rate of 2.50% for every year after the 10th year of the policy, capped at the rate of 10%. This final bonus will be paid on the value of the Policy Account as at the date of death or maturity. The Board also approved a Regu- lar Bonus of 3% in respect of 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. Fi- nally the Board also approved a Regular Bonus of 1.6% on the ALICO 78 policies and a Regular Bonus of 1.85% on the ALICO 66 polices which formed part of the portfolio of business transferred to MAPFRE MSV Life in 2011 from American Life Insurance Company ("ALICO"). The Chairman of MAPFRE MSV Life, John Cassar White stated, "major global developed economies grew modestly during 2017. Whilst equity markets deliv- ered strong positive returns with emerging markets outperforming developed markets, Government bond markets were held back by rising long-term interest rates, leading to weak returns. Despite the low yield environment that we operate in our With Profits cus- tomers will benefit from another year of good investment returns. The MAPFRE MSV With Prof- its Fund performed well in 2017 delivering a net investment re- turn of 3.85% compared to 4.94% in the previous year. During 2017, MAPFRE MSV With Profits poli- cyholders have benefitted from the Company's conservative and diversified portfolio of assets, the active but prudent management of the Fund, the geographical spread and the rigorous and prudent in- vestment management process which is so important in the man- agement of With Profits Funds. It also means that our With Profits customers have continued to see steady growth on their invest- ments over the long-term, well in excess of inflation." The Chief Executive Officer of MAPFRE MSV Life, David G. Curmi, stated, "by the end of 2017 the MAPFRE MSV With Profits Fund had assets under management of €1.8 billion, in- creasing 12% over 2016 mainly due to the stronger inf lows of single premium savings. With over 80,000 policies in force, the MAPFRE MSV With Profits Fund is one of the largest man- aged savings funds in Malta. The size and strength of our Fund al- lows us to invest in a very wide range of assets spread across many markets. The objective of the MAPFRE MSV 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 un- derlying capital guarantee. This means that With Profits invest- ments remain a good choice for investors seeking steady growth from a spread of investments over the longer term with some downside protection. In these uncertain times the benefits of smoothing and guarantees can provide advantages to With Profits policyholders over other forms of investment." Curmi concluded, "our wider message is that MAPFRE MSV 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 With Profits Fund, a con- servative and diversified port- folio 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 volatil- ity." Notwithstanding the prudent investment policy adopted by MAPFRE MSV Life, past per- formance is no guarantee for the future. Although the MAP- FRE MSV With Profits Fund has generally provided policyholders with satisfactory returns when compared with other similar investment products, in the light of the current uncertainty in the capital markets, invest- ment returns could f luctuate further. Fair value movements and investment returns impinge directly on the rates of bonuses declared by MAPFRE MSV Life. Regular Bonuses are therefore expected to vary over the life- time of the policy whilst Final Bonuses are likely to be highly volatile and very dependent on the investment performance of the Company. New managerial appointments at APS Bank APS Bank has continued strengthening its managerial complement with three recent new appointments. James Flores is the new Man- ager of Attard branch, overall responsible for all services deliv- ered from that station. He comes with 18 years of track record hav- ing gone up 'through the ranks' at APS Bank, in various branches as well as in the Commercial Business Unit. His longstanding on-the-job experience is backed with qualifications in banking, financial services and home loan financing. Astrid Lubin has taken on the newly-created post of Manager Financial Institutions, responsi- ble for relationships with banks, correspondents and financial in- termediaries. Her experience in private and institutional banking was gained at names like Banque Martin Maurel, IPE Gestion, Banque Delubac & Cie, Credit Agricole and AGF Asset Manage- ment. Astrid has higher degrees from the University of Hartford, Connecticut and DePaul Univer- sity, Chicago. Raymond Bugeja recently joined as Manager Corporate Bank- ing. He started with Mid-Med Bank in 1985, continuing with HSBC Malta in 1999, the same year when he graduated in fi- nancial services from the Uni- versity of Manchester. His ca- reer progressed to positions of Relationship Banking Manager, responsible for portfolios of top tier clients including large busi- ness groups, state-owned entities and subsidiaries of international business conglomerates. "James, Astrid and Raymond between them bring a wealth of over 75 years' experience which makes them ideal for their jobs. We wish them well in their jour- ney", said APS Bank's CEO, Mar- cel Cassar. MAPFRE MSV Life p.l.c. declares 2017 bonuses Yobetit signs up for NetRefer's performance marketing platform YOBETIT.COM has recently signed up with NetRefer to utilise their feature rich, ro- bust performance market- ing platform. Based in Malta, Yobetit was founded in 2012 by Nikolai Livori. In its early days the company operated as an arbitrage bookmaker, but it wasn't long until it evolved into the competitive sportsbook it is today. The company focuses on safety and security of its cli- ents and ensures responsible betting under its MGA licence. Moreover, in 2018, Yobetit ex- panded its services when it in- troduced YoMillions, an online lottery platform. NetRefer will empower Yobetit with its premium prod- uct suite, allowing enhanced management of marketing ac- tivities relating to its affiliates (both Online and Off line). Oksana Xerri, Head of Af- filiates at Yobetit said, "I have been in Affiliate Marketing since 2011, and recently be- came responsible for affiliate marketing at Yobetit. I feel very excited about the partner- ship between Yobetit and Ne- tRefer; their affiliate software looks amazing, it is really easy- to-use, and has a big variety of reports including media per- formance." Timothy Buttigieg, COO at NetRefer said, "NetRefer is delighted to have one of the fastest growing sportsbooks in Malta signing up to its ad- vanced performance marketing platform. NetRefer's dedicated PMO team will work on get- ting the affiliate programme deployed as fast as possible to get Yobetit managing, tracking and rewarding their affiliates efficiently and effectively in no time." Raymond Bugeja James Flores Astrid Lubin The MAPFRE MSV With Profits Fund delivered a net investment return of 3.85% in 2017