The board of directors of Mapfre MSV Life plc approved a resolution whereby differential rates of regular bonuses were declared in respect of With Profits plans for the year ended December 31, 2016.

These amounted to 3.25 per cent in respect of the MSV Comprehensive Flexi Plan (regular and single premium policies), 3.25 per cent under the MSV Single Premium Plan, 3.25 per cent in respect of the MSV Personal Pension Plan, 3.25 per cent under the With Profits options of the MSV Investment Bond and of the MSV Retirement Plan and 3.15 per cent for the MSV Comprehensive Life Plan (regular and single premium policies). On the ‘Old Series’ Endowment and Whole Life policies, a regular bonus of 2.40 per cent of the basic sum assured plus bonuses was declared.

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) 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 March 1, 2017 and the next bonus declaration, at a rate of 2.5 per cent for every year after the 10th year of the policy, capped at the rate of 10 per cent. This final bonus will be paid on the value of the Policy Account as at the date of death or maturity.

Furthermore, the board also approved a regular bonus of 3.15 per cent in respect of the Comprehensive Life Plan and 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.

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 polices which formed part of the portfolio of business transferred to Mapfre MSV Life in 2011 from the American Life Insurance Company.