The new product takes up to nine the number of countries within the EU in which the company has launched specifically tailored, local language products – including, among others, the UK, France, Spain and Italy.
The Maltese Asset Management Bond is structured as a personalised portfolio bond, with each policy having a unique, unit-linked fund through which investors can access the company’s range of unit-linked investments as well as an external universe of admissible assets.
SEB said policyholders will also benefit from a life cover of 101% of the surrender value and the opportunity to use “selected” discretionary management services and online valuation services.
SEB Life International head of sales and marketing, Conor McCarthy, said: “We believe this is the first open-architecture product available in Malta that complies with Maltese General Good requirements and which is written under Maltese Law.
We expect the proposition to be well received by individual investors as well as pension trustees who are looking for a high degree of investment flexibility from an EU provider.”
SEB Life International was created after Nordic financial services group SEB purchased Irish Life International in August 2011. SEB rebranded the life office SEB Life international in February last year.
