BSP Life Breaks Records with $38.4 Million Bonus Allocation

BSP Life, a stalwart in Fiji’s insurance industry, has declared a bonus allocation of $38.4 million for the 2023 financial year. 

This is the highest-ever in its 147-year history.

Managing Director Michael Nacola attributed it to the steadfast support of BSP Life’s customers. 

Despite prevailing market challenges, BSP Life has maintained its reversionary bonus and terminal bonus at elevated levels since 2020.

“Our customers are the driving force behind our success,” Nacola said, “ and we

are delighted to reward them for their loyalty.”

He highlighted BSP Life’s overarching mission to positively impact the lives of its customers, with declared bonuses serving to enhance the value of policies and facilitate the realisation of financial aspirations.

Nacola credited BSP Life’s lean operations, streamlined processes, and a robust Investment Portfolio (IP) for its ability to sustain such high bonuses while mitigating risks.

BSP Life’s IP, which exceeded $1 billion in 2023, tripling since 2010, positions the company as the second largest institutional investor in Fiji, trailing only the Fiji National Provident Fund. 

Looking ahead, BSP Life aims to further expand its portfolio to $2 billion while upholding its commitment to delivering robust returns.

In a bid to reach out to prospective customers, particularly new entrants to the job market, Nacola encouraged individuals to explore BSP Life’s range of savings and investment plans. He highlighted the opportunity to align with a brand that not only facilitates personal financial growth but also contributes to the broader economic prosperity of the nation.

BSP Life invites those interested in its offerings to visit its website or reach out to its call center on 132700 for further information. 

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