MAPFRE, through its specialized area MAPFRE Inversión, is expanding its offer in the savings category by introducing Flex Multi-Fund Insurance: the first ever unit linked insurance product in the Peruvian market. This life insurance with savings plan is linked to a basket of international dollar denominated funds in the portfolios of the world’s major fixed income, equity and mixed asset managers.
New Flex Multi-Fund Insurance
Flex Multi-Fund Insurance is a unit linked product that combines life insurance with savings and investment insurance, in which a larger proportion of the premiums go to mutual funds. The minimum investment amount is a single contribution of 10,000 dollars. The insurance policyholder obtains a variable final sum based on the performance of the assets in which they have invested.
“We are proud to open up a new market in Peru with this product. It has been very well-received by our clients in the other parts of the world where we operate. Moreover, for us the Peruvian market will serve as a benchmark for other Latin American countries,” said Julian Trinchet, CEO of MAPFRE Peru.
In addition, discussing this new product, MAPFRE Group Chief Investment Officer José Luis Jiménez explained that: “At a time of such global uncertainty, everything points to the US economy and the dollar performing prominently over the coming years. For this reason, we have designed an investment product with the best portfolio managers in the world and in dollars, facilitating the diversification of savings for our clients in Peru.”
MAPFRE’s Flex Multi-Fund Insurance offers three options:
- Cautious: Their asset allocation will always be biased toward conservative assets, predominantly in liquidity and fixed income.
- Moderate: A balance is sought in the portfolio between fixed income and equities, with the possibility of investing in assets with a little more risk and broadening the investment universe in search of somewhat higher returns in the medium-term.
- Adventurous: The portfolio is more heavily weighted toward equity assets, while fixed income exposure is more residual. Investments are made across all markets, including both developed and emerging.
The optimal investment period depends on the chosen portfolio. The client may change the fund basket at any time with no extra cost. They may withdraw their funds at any point after two days, and free of charge after three years. In addition, given that the product is linked to a life insurance plan, the holder can freely change their designated direct and/or indirect beneficiaries.
As part of its launch, a webinar called Global investments: How to generate profitability in 2021? was held to discuss global investment trends that may ensure profitability in a year in which the economic situation remains complex due to the global pandemic. The event was attended by Julian Trinchet, CEO of MAPFRE Peru, along with Claudia Cooper, Chair of the Lima Stock Exchange, Lucila Michahelles, Manager at Scotiabank Wealth Advisory, and José Luis Jiménez, MAPFRE Group Chief Investment Officer.