MeDirect Bank and MAPFRE MSV Life have signed a bancassurance agreement through which MeDirect Bank will act as a tied insurance intermediary, distributing a range of life insurance products from MAPFRE MSV Life. This collaboration marks a significant milestone for both organisations, aimed at enhancing the financial services available to MeDirect clients whilst widening the distribution network of MAPFRE MSV Life.
The partnership will enable MeDirect to broaden its suite of financial solutions and its commitment to providing a one-stop shop for its home loans services. Initially, MeDirect will focus on offering loan protection solutions which are designed to provide comprehensive coverage and peace of mind to clients.
To mark this development, the CEO of MAPFRE MSV Life, Elvira Lopez de Lara Merida, visited the MeDirect Bank offices at Tigne Point, where she met with the Group CEO of MeDirect, Jean-Claude Maher. The meeting underscored the commitment of both organisations to delivering exceptional financial services and life insurance solutions to their clients.
Jean-Claude Maher, Group CEO of MeDirect, commented, “MeDirect is committed to providing the most efficient home loans service in Malta with a focus on best-in-class technology coupled with an excellent product and service offering, whether it is through our digital platforms or in person. As we work towards becoming a one stop shop for all property buyers and investors, partnering with MAPFRE MSV Life, a leader in the life insurance sector, to provide life protection products makes perfect sense. At the same time, we continue to digitise our home loan service with further significant developments coming soon.”
Elvira Lopez de Lara Merida, CEO of MAPFRE MSV Life, added, “We are excited to collaborate with MeDirect Bank, a forward-thinking institution that shares our commitment to client-centric solutions. Together, we will deliver high-quality life insurance products that offer security and protection to MeDirect’s clients.”
This partnership is a testament to the shared vision of MeDirect Bank and MAPFRE MSV Life in providing innovative and comprehensive financial services. Clients can look forward to a seamless experience and access to a range of long-term insurance products tailored to the needs of home buyers.
About MeDirect Bank
MeDirect’s mission is to empower people to manage their wealth with confidence and autonomy. Providing a range of investment, daily banking and home loans products, MeDirect has built a world class mobile app and digital banking platform, supported by dedicated call centres and tailored advice, giving our clients a one-stop shop for their wealth and banking needs. MeDirect currently services more than 155,000 customers in its core markets in Malta, Belgium and the Netherlands. These customers trust MeDirect with assets worth more than €5.9 billion.
About MAPFRE MSV Life
MAPFRE MSV Life is the leading provider of life insurance protection, savings, investments and retirement solutions in Malta. MAPFRE MSV Life offers a comprehensive product offering and a commitment to clients’ life insurance needs across the various life stages.
MeDirect Bank (Malta) plc, company registration number C34125, is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994. Applications are subject to the Bank’s lending criteria. Your residential immovable property may be repossessed if you do not keep up with repayments on a mortgage or any other debt secured on it.
The Insurance Products are manufactured by MAPFRE MSV Life p.l.c., which provides cover under these policies, and are distributed by MeDirect Bank (Malta) plc.
MeDirect Bank (Malta) plc is enrolled under the Insurance Distribution Act, Cap. 487 of the Laws of Malta, as a Tied Insurance Intermediary for MAPFRE MSV Life p.l.c. (MMSV). MMSV (C-15722) is authorised by the Malta Financial Services Authority (MFSA) to carry on long-term business under the Insurance Business Act, Cap. 403 of the Laws of Malta. Both entities are regulated by the MFSA.
MeDirect Bank (Malta) plc, The Centre, Tigné Point, Sliema, TPO 0001, Malta.