FijiCare Insurance Limited (FIL) has reported a consolidated profit after income tax of $9,303,850 for the year ended December 31, 2025.This, it said in its announcement at the South Pacific Stock Exchange (SPX), represents a growth of 46.9 per cent compared to its 2024 restated consolidated figure of $6,333,143.
“This result represents the Group’s strongest financial performance to date and marks the successful first-year adoption of IFRS 17 – Insurance Contracts and IFRS 9 – Financial Instruments, effective 1 January 2025 — ahead of the Reserve Bank of Fiji’s mandated prudential reporting deadline of 1 January 2026,” FIL stated.
“The 2024 comparative figures have been retrospectively restated under these new standards.”
FIL executive director Avi Raju described 2025 as a “defining year” for FijiCare.
“We are proud to report our strongest ever financial results, with consolidated profit after tax of $9.3 million and earnings per share of $1.08 — a performance that reflects the commitment and capability of our entire team across Fiji and Vanuatu,” he said.
“We are equally proud to have completed the first-year adoption of IFRS 17 ahead of the regulatory deadline, demonstrating our commitment to transparency and world-class financial reporting.
“As we enter 2026, FijiCare is well positioned — financially, operationally and strategically — to continue delivering sustainable value to all our stakeholders.”
FIL’s total consolidated comprehensive income for 2025 was $9,215,163, and consolidated net assets grew to $39,218,293 as at 31 December 2025.
Key drivers of growth
• Premium revenue growth — Insurance revenue grew 12.2 per cent to $59.2 million, driven by growth across all major business lines and the Group’s operations in Vanuatu.
• Improved underwriting result — The insurance service result increased 39.3 per cent to $9.7 million, reflecting disciplined underwriting and effective claims management.
• Investment and property income — Net investment income grew 79.9 per cent to $3.5 million, supported by fair value gains on the Group’s investment property portfolio and strong fixed-income returns.
• Subsidiary contributions — The Group’s subsidiary companies contributed positively to consolidated earnings, demonstrating the strength of FijiCare’s diversified and multi-jurisdictional business model.
• Strong capital position — Total Group equity grew 21.9 per cent to $39.2 million. The Group maintained full compliance with RBF solvency and capital requirements throughout 2025.
