BSP Life announced a total bonus allocation of $36.8 million, which according to its managing director Michael Nacola, is the highest in its 145-year history.
At a press conference yesterday, Mr Nacola said the bonuses were distributed to their life insurance customers with investment-linked policies.
He said over the past 10 years, BSP Life had allocated more than $200m in bonuses with an increasing year-on-year trend.
As one of Fiji’s largest institutional investors, BSP Life’s investment portfolio is now valued at more than F$985m (as at December 2022).
Mr Nacola said the portfolio included a number of landmark commercial properties in the Suva CBD, a gated high-end residential property, majority shareholding in Richmond Pte Ltd trading as Sofitel Fiji Resort and Spa and 100 per cent ownership of Oceania Hospitals Pte Ltd and Future Farms Pte Ltd trading as Rooster Poultry.
The investment portfolio is balanced and diversified to ensure returns are optimised for customers who have a direct interest in the portfolio as policyholders.