BSP Life has announced $43.8 million in bonuses to eligible life insurance policyholders for the 2024 financial year.
This, it said in a statement issued this week, marks the first time the bonus pool has surpassed $40million, growing by 14per cent over 2023, and totalling over $180million over the last five years, including the pandemic period.
“We’re delighted to announce the 2024 bonus allocation which shows an increasing year-on-year trend,” said managing director Michael Nacola.
“Our customers place a high degree of trust in us, and it is gratifying to see their loyalty rewarded in the form of their bonuses.”
Mr Nacola said policyholder bonuses are tied to the performance of their $1.2billion investment portfolio, the second largest in Fiji after the Fiji National Provident Fund, with investments spread across eight asset classes that encompass a broad range of industries.
“Only 8 per cent of our portfolio is placed offshore with 92 per cent invested locally.
“We have an active investments pipeline, including a $250million hotel on Denarau in partnership with Fiji Airways, that supports our ambition of reaching $2billion (investment portfolio) in the not-too-distant future.”
Mr Nacola noted the solid growth in their insurance premiums as more Fijians purchase policies with BSP Life.
“We’re particularly pleased to see the high interest from young people joining the workforce demonstrating their strong financial acumen which will reap dividends for them in the medium to long-term,” he said.
BSP Life has over 50,000 policyholders.
Note: This article was first published on the print version of the Fiji Times dated June 4, 2025
