BSP Life has proudly announced that it disbursed a record $110 million in customer benefits in 2025, coinciding with the celebration of its 150th anniversary. This remarkable achievement marks a significant chapter in the company’s history, which began in 1876, serving over 100,000 Fijians with life and health insurance products.
Michael Nacola, the Managing Director, emphasized that 2025 is not only a celebration of the company’s rich history but also a year of substantial returns for its customers. The impressive $110 million in payouts included $79 million allocated for living benefits, $21 million for medical claims, and $10 million for death claims. On average, payouts reached $2.1 million weekly, translating to over $400,000 distributed every working day.
Nacola highlighted that a significant 72 percent of these benefits were directed towards life insurance maturities and periodic cash payments. This statistic demonstrates that thousands of customers are reaping the benefits of their policies while alive, using these funds to achieve their financial ambitions.
Reflecting on the last five years, BSP Life has disbursed a cumulative total of $449 million in benefits to its policyholders. Looking ahead, the company is committed to enhancing its digital services and introducing new products that promise to deliver even greater value to its customers in the future. This forward-looking approach underscores BSP Life’s dedication to ensuring that more individuals can benefit from their insurance policies, fostering a positive outlook for the years to come.
Leave a comment