BSP Life has declared a record bonus allocation of $45.3 million to its policyholders for the 2025 financial year, the highest in the company's history, the insurer announced in Suva yesterday. The milestone comes as BSP Life marks its 150th year of operations in Fiji and follows a string of strong operating and investment results across the business.
Managing Director Michael Nacola said the bonus outcome reflected growth “across all fronts” of the insurance business. For the first time the company’s premium income surpassed the $100 million mark in 2025, while its investment portfolio — spanning eight asset classes and valued at $1.25 billion — delivered around $93 million in investment income. Sales of standard products also rose sharply, recording 28 percent growth and exceeding $18 million for the year.
“Our highest-ever (bonus allocation) was in 2024 at $43.8 million, so we’re continuing that upward trajectory,” Nacola said, explaining that the declared bonus is finalised after the company completes its audited financial statements and is paid out as policies reach interval payment stages or final maturity. He said sustaining consistent bonuses depends heavily on the financial performance of the business and the returns generated from the investment portfolio.
BSP Life said its private equity holdings were the strongest performing asset class in 2025. Nacola identified specific investments including Oceania Hospitals, the FNPF-linked Rooster venture, and the Sofitel Fiji Resort & Spa, singling out the Sofitel as the “star performer” after the property recovered strongly following COVID-related disruption. “There was a period during COVID where that asset was impacted… post the borders opening, Sofitel has performed extremely well for us,” he said, noting the benefit of diversification where stronger returns from some assets offset weaker returns in others.
Chief Investment Officer Craig Strong emphasised that portfolio diversity underpinned the firm’s ability to deliver for policyholders. “We’re continually working on initiatives and potential investments that will secure that sustainability over the lifetime for our policyholders,” Strong said, framing the 2025 performance as the payoff from a deliberate strategy to balance risk across asset classes.
The 2025 figures underscore a broader upswing for BSP Life following the prior year’s record allocation and reflect both stronger sales momentum and the rebound in key property investments. Policyholders can expect the bonus distribution to be processed as individual policies meet contractual payment milestones, Nacola said, while the company continues to monitor asset performance across its $1.25 billion portfolio to maintain future payouts.
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