Citadel Insurance declares 5% bonus

Citadel Insurance plc is pleased to announce a bonus declaration on the PERLA Protection range of five per cent. The bonus declared will be credited to the policy account of all PERLA Protection policyholders as at December 31, 2004.

This bonus declaration is the highest level of bonus that has been declared so far in the local market and is 0.5 per cent higher than the minimum guaranteed bonus rate of 4.5 per cent.

The PERLA Protection plan is a with-profits endowment policy offering a guaranteed return of 4.5 per cent on the invested premium. As with all with-profit plans, the level of bonus declared is dependent on the performance of the underlying investments. The prudent investment strategy adopted by Citadel has enabled the Company to maintain consistent bonus declarations, in line with customer expectations.

The PERLA Protection plan was introduced to the local market in 1999 and has been successful in providing a wide choice of life, disability and accident cover. Its continual success is primarily due to the amount of flexibility built into the plan, which offers a choice of premium and benefits to match the individual's financial commitments.

This flexibility is in line with Citadel's philosophy which centres around a customer oriented vision. Citadel focuses on the needs of its customers to create confidence, trust and loyalty. This is achieved through Citadel's range of products that are designed around innovative insurance solutions for better security and protection.

Citadel will shortly be providing statements to its PERLA plan policyholders.

Citadel Insurance plc is authorised to carry on general and long term business of insurance under the Insurance Business Act, 1998 and to provide investment services under the Investment Services Act, 1994. It also is regulated by the Malta Financial Services Authority.

For further information contact the head office at 'Casa Borgo', 36, Market Street, Floriana, phone 8007-2229 or e-mail info@citadelplc.com.