Mapfre Middlesea plc - Investment in Subsidiary

On 25 March 2021, MAPFRE Middlesea plc announced that it carried out a €20 million capital injection in favour of its subsidiary company MAPFRE MSV Life plc (“MMSV”) to acquire shares in the company as part of its recapitalisation exercise. MAPFRE Middlesea explained that it is supportive of MMSV which has been profitable over the years and does not wish to dilute its shareholding and influence in the company. The shareholding in MMSV is held jointly between Bank of Valletta plc (50%) and MAPFRE Middlesea plc (50%). Moreover, BOV is a major shareholder in MAPFRE Middlesea plc with an equity stake of just over 31%. MAPFRE Middlesea added that BOV will also be making a €20 million capital injection into MMSV.