BSP Life declares record $45.3m bonus allocation

Suva [Fiji], March 19: BSP Life has announced its highest-ever bonus allocation of $45.3 million for the 2025 financial year, marking a historic milestone as the company celebrates 150 years of service in Fiji.
Managing Director Michael Nacola says policyholder bonuses are declared once financial statements for the preceding year have been audited and approved.
He says they are allocated to all active life insurance policies that have investment-linked benefits.
Nacola adds that sustaining consistent bonuses depends on the financial performance of the business and returns received from their $1.25 billion investment portfolio.
He adds that despite challenging market conditions, 2025 was another successful year for BSP Life with strong contributions across the Group, culminating in the positive bonus outcome.
BSP Life recorded a 28 percent increase in sales for standard products over the prior year, noting the 20-29 age demographic as the fastest growing segment. Single premium sales were also positive.
Total premiums collected surpassed $100 million, maintaining market leadership across all product lines.
Investment performance, aggregated across eight asset classes, showed resilience, contributing $93 million, a 2% increase over the previous year.
Several large projects with BSP Life shareholding interests are progressing well, including the $250 million Vatu Talei hotel development on Denarau, a joint venture with Fiji Airways.
Last year, the company also announced its partnership with the Kerzner Group for the development of an ultra-luxury resort in Yasawa under the One & Only brand, due for completion in 2029.
Nacola adds that new developments will be announced this year as they work towards their medium-term goal of hitting the $2 billion investment portfolio mark, while maintaining consistent returns.
Simultaneously, he says they are investing in digital, data and product innovation to improve service delivery and grow market reach, enabling more Fijians to access proceeds from our financial outcomes.
Source: Fijian Broadcasting Cooperation