Differential rates of regular bonuses were declared in respect of with-profits plans held with MSV Life for the year ended December 31, 2013. These amounted to 3.15 per cent for the MSV Comprehensive Life Plan (regular and single premium policies), 3.35 per cent in respect of the MSV Comprehensive Flexi Plan (regular and single premium policies), 3.35 per cent under the MSV Single Premium Plan and 3.35 per cent under the with-profits options of the MSV Investment Bond and of the MSV Retirement Plan.

On the old series endowment and whole life policies, a regular bonus of 2.20 per cent of the basic sum assured plus bonuses was declared.

In addition the board also approved the declaration of a final bonus in respect of the Comprehensive Life Plan (single and regular premium) and the Comprehensive Flexi Plan (single and regular premium) 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 March 13, 2014, being the date of the 2013 bonus declaration, and the next bonus declaration, at a rate of 1 per cent for every full year after the 10th year of the policy. 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 regular bonus of 3.35 per cent on Secure Growth policies which formed part of the portfolio of business transferred to MSV Life from Assicurazioni Generali SpA during 2000.

Finally the board also approved a regular bonus of 1.75 per cent on the Alico 78 policies and a regular bonus of two per cent on the Alico 66 policies which formed part of the portfolio of business transferred to MSV Life in 2011 from American Life Insurance Company.