BOV employees with a special visit to MAPFRE offices in Madrid

A group of ten Bank of Valletta employees from across the Bank’s Investment Centres and Branches have recently returned from a short trip to Madrid, where they visited the headquarters of MAPFRE S.A. in Majadahonda, Madrid. They were accompanied by Tonia Parascandalo and  Sarah Borg from the Bank’s Bancassurance Office. MAPFRE MSV Life’s senior management team members were also part of the group.

Speaking about the initiative, Ms Parascandalo explained that the group of representatives distinguished itself throughout the year for the high level of service given to customers when assisting them to navigate through the complex world of investments. “This trip served as an excellent opportunity for our representatives to get a better understanding of how our partners in Spain operate. It also helped to broaden their perspective as they got to experience firsthand how our partners view and research specific markets, whose needs may differ significantly, considering the different geographical and political realities they hail from.”

During their stay, the delegates had a unique opportunity to meet and exchange views with top officials from MAPFRE Life Operations and MAPFRE Asset Management about innovations and business development opportunities in the bancassurance market. A highlight of the tour was the delegation’s visit to the trading room, followed by a guided tour of the temporary exhibits by artists Joaquin Sorolla and Medardo Rosso, presently housed at Fondation MAPFRE, located within the heart of Madrid. Other stops worth mentioning were visits to the main city attractions including Park Retiro and Palacio Real, along with a tapas tour and a flamenco dinner show.

The BOV Group has been involved in the life assurance business since 1994, when the first local bancassurance venture was set up, at the time, in partnership with Middlesea Insurance. This working relationship kept growing stronger over the years, and nowadays the Bank enjoys an excellent working relationship with MAPFRE S.A, which is one of the largest insurance providers in Spain with business operations extending to Latin America and the Maghreb.