BOV expands product suite with general insurance solutions

Bank of Valletta today announced its entry into the general insurance market and is extending its product and service suite through the distribution of some of MAPFRE Middlesea Insurance’s general insurance products. With this step, BOV customers will gain convenient access to home, commercial home (rented residential properties), individual health, and travel insurance, further enhancing the Bank’s position as a trusted one-stop partner for financial and lifestyle solutions. Insurance products related to home and commercial home are already being offered from BOV branches, whilst individual health and travel insurance will be introduced later this year.

“This is an important milestone for the Bank, and a natural step forward in our strategy to broaden our service offering for the benefit of customers,” said Kenneth Farrugia, CEO of Bank of Valletta. “Our customers trust us not only with their finances but also with their long-term financial well-being. It is part of our broader vision to remain customer-centric and innovative in an evolving financial services landscape. By introducing access to general insurance products, we are extending our role as a true partner in our customers’ life journey.”

The Bank’s CEO went on to say that “The introduction of this new service by Bank of Valletta represents a valuable and smart opportunity for the Bank’s customers to take proactive steps in safeguarding what matters most. Protecting one’s assets—be it a cherished family home, personal health, or exciting travel plans—becomes simpler and more accessible with a trustworthy financial partner at hand. By choosing comprehensive insurance coverage, customers can enjoy greater peace of mind knowing that life’s unforeseen events are managed with expert guidance and robust support. The assurance that comes from being properly insured empowers individuals and families to focus on their ambitions and daily joys, confident that their most important investments are well protected.”

Simon Azzopardi, Chief Personal & Wealth Officer at Bank of Valletta, added, “This is an important addition to our product and service range. We continue to expand our services to ensure that our clients can benefit from a wider range of services at the best terms possible. To this end, our strategic partnership with MAPFRE, through MAPFRE Middlesea Insurance, allows us to extend to our customers the global expertise of the MAPFRE Group. We have done this successfully in the field of Life Assurance and will be striving to replicate, while extending general insurance services,” concluded the Chief Personal & Wealth Officer. 

Etienne Sciberras, CEO of MAPFRE Middlesea stated, “This is a significant milestone that continues to strengthen the partnership between MAPFRE and Bank of Valletta. This collaboration will lead to a more comprehensive range of services for the customers. More importantly, customers will now benefit from a more personalised insurance solution, which is fundamental for one’s financial wellbeing. This step underscores our commitment to providing tailored solutions that meet the individual needs of the clients.”

“This partnership represents a natural evolution of our successful collaboration with Bank of Valletta in the life insurance space. By extending our general insurance offering through the Bank, we are building on a strong foundation to deliver even greater value to customers. We are proud to support BOV in offering solutions that empower individuals to safeguard what matters most, whether it’s their home, health, or travel plans, with confidence and peace of mind.”, commented Boris Curmi, Chief Officer Commercial at MAPFRE Middlesea.

The Bank is also at the forefront of increasing its financial literacy and awareness efforts about the importance of insurance. By helping customers better understand how insurance safeguards their homes, health, and travels, BOV is not only addressing individual needs but also contributing to the expansion of the general insurance market, for the benefit of the industry as a whole.

Further information on the new insurance products that are currently being offered from BOV, can be obtained by visiting any BOV branch or through the Bank’s website on www.bov.com.