Tag: MAPFRE MSV Life plc
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No respite for MAPFRE’s Life insurance funds as the underpefromance continues
There is no respite for MAPFRE MSV LIFE PLC, the embattled fund owned by the insurer Mapfre in Malta, which is locally owned by Bank of Valletta. The fund has been hit with multiple orders by the financial tribunal to provide compensation to litigating clients who claim they have been over-promised bonuses and returns which…
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MAPFRE MSV Life: saying many things to say nothing
MAPFRE MSV Life, the Bank of Valletta run insurance and funds-management company is running a PR campaign in the press to fight for its reputation after people discovered about financial education. CEO Etienne Sciberras claimed that MAPFRE did a €14.5 million profit in 2023 – I wonder how much of that was actual fees from…
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Clients should be made aware that MAPFRE MSV Life’s funds are under-performing massively and their model is outdated
Following last week’s announcement by Mapfre MSV Life plc that they are paying a “bonus” of 2.5% to some of their clients holding money in some of Mapfre’s profitable funds, retail clients should be informed of the full facts. Firstly, Mapfre has a conflict of interest in acting as a financial advisor given that they…