Leading with purpose

After just five months since her appointment as CEO of MAPFRE MSV Life, we sat down with Elvira López de Lara in a meeting that quickly revealed her passion for people, purpose, and progress. With over 15 years of experience within the MAPFRE Group, López de Lara brings a blend of strategic insight and human-centred leadership to Malta’s leading life insurance provider.

From the outset, her energy was palpable. “I’m a dynamic, innovative, and highly executive person,” she said with a smile, “But above all, I believe in people.” It’s a philosophy that has guided her through a career spanning diverse markets and complex projects, and one she intends to bring to the forefront of MAPFRE MSV Life’s next chapter.

Her tenure at MAPFRE has been marked by a series of transformative roles, particularly in the Spanish market, where the company holds a leading position. “Working in such a large organization taught me the importance of efficiency and customer experience,” she explained. “But it also taught me humility – the ability to observe, learn, and improve what already exists.”

‘We need to be agile and flexible’ – Elvira López de Lara

Now at the helm in Malta, López de Lara is keenly aware of the challenges ahead. The insurance landscape is evolving rapidly, shaped by increasingly informed consumers and intensifying competition. “We need to be agile and flexible,” she noted. “Our main challenge is to place the customer at the centre of everything we do.”

Despite Malta’s strong economic performance and a culture of saving, López de Lara pointed out that insurance penetration remains below the European average. “There’s a tendency to invest in property, which is good,” she acknowledged, “but people also need a financial plan that evolves with their life stages - whether it’s for their children’s education, retirement, or a second home.”

She emphasized the importance of broadening the conversation around life insurance, which in Malta is often tied to home loans. “We must not overlook the need for family protection. Life is unpredictable – death or disability can derail even the best-laid plans. Insurance should offer peace of mind and stability.”

One area where López de Lara sees significant room for growth is retirement and pension planning. “The government’s tax incentives are a step in the right direction,” she said, “but we need to do more in terms of financial education. As a company, we have a responsibility to improve people’s lives.”