Mapfre MSV Life plc has announced the bonus rates for With Profits Plans for the year ended December 31, 2018.

A Regular Bonus Rate of 2.35 per cent 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 2.25 per cent was declared on the Comprehensive Life Plan (regular and single premium policies) while on the ‘Old Series’ Endowment and Whole Life policies, a Regular Bonus of 1.50 per cent of the basic sum assured plus bonuses was declared.

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. The Final Bonus will be paid on claims payable as a result of death or maturity between March 5 and the next bonus declaration, at a rate of one per cent for every year in force 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 2.25 per cent 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 0.85 per cent on the ALICO 78 policies and a Regular Bonus of 1.10 per cent 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 With Profits Fund stood at €1.89 billion at December 31, 2018 (2017: €1.79 billion). The Fund registered a total negative investment return of €43.1 million compared to a positive €63.9 million in 2017. This represents a negative 2.15 per cent (after fees) net investment return compared with a positive 3.85 per cent in 2017.

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