News Details

APS Bank authorised as Tied Insurance Intermediary for IVALIFE Insurance Limited

08/04/2021 12:00:00

APS Bank is pleased to announce that it has been authorised by the MFSA to act as Tied Insurance Intermediary for and on behalf of IVALIFE Insurance Limited for Class I Long Term Business – Individual and Group Life.

Having started in the distribution of Life Assurance Products in 2007 and grown into a leading player over the years, it was natural for the Bank to scale up its presence in this area of business. A project started in 2019 with three corporate partners came to fruition earlier this year when IVALIFE Insurance Limited was authorised by the MFSA to carry on the business of life insurance. Operations started on 1st March 2021 with a portfolio of products that includes individual and group life protection policies and ‘With Profits’ savings and single premium plans.

Kenneth Genovese, APS Bank Head of Investment Distribution commented: “Adding IVALIFE Insurance portfolio of products to our current offering is an integral part of the Bank’ strategy. All authorised Bank staff have been trained and licensed by the MFSA to provide the necessary information about the products.”

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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.