FijiCare Insurance Limited (FIL) reported a consolidated profit after tax of $9,303,850 for the year ended December 31, 2025, marking a 46.9 percent rise on its restated 2024 result of $6,333,143, the company announced to the South Pacific Stock Exchange. FIL said the 2025 result was its strongest financial performance to date and comes alongside full-year financial statements prepared under new accounting rules.
The insurer completed the first-year adoption of IFRS 17 (Insurance Contracts) and IFRS 9 (Financial Instruments) effective January 1, 2025 — a year ahead of the Reserve Bank of Fiji’s prudential reporting deadline of January 1, 2026. FIL retrospectively restated its 2024 comparative figures under the new standards, arguing the move enhanced transparency and comparability of its earnings and balance sheet.
Key operational drivers behind the improved bottom line included a 12.2 percent increase in insurance revenue to $59.2 million, growth FIL said was led by stronger business across major lines and by its operations in Vanuatu. The company’s insurance service result — a measure of underwriting performance — rose 39.3 percent to $9.7 million, which FIL attributed to disciplined underwriting and tighter claims management.
Investment returns also bolstered results. Net investment income surged 79.9 percent to $3.5 million, supported by fair value gains on the group’s investment property portfolio and “strong fixed-income returns,” according to the announcement. FIL added that its subsidiary companies contributed positively to consolidated earnings, underscoring the benefits of a diversified, multi-jurisdictional business model.
FIL’s balance sheet strengthened alongside earnings. Consolidated net assets grew to $39,218,293 and total group equity rose 21.9 percent to $39.2 million as at December 31, 2025. The group reported it remained fully compliant with Reserve Bank of Fiji solvency and capital requirements throughout 2025. Earnings per share for the year were $1.08.
Executive director Avi Raju described 2025 as a “defining year” for FijiCare, saying the results “reflect the commitment and capability of our entire team across Fiji and Vanuatu” and highlighting early IFRS adoption as evidence of the company’s commitment to “world-class financial reporting.” FIL said the combined operational, financial and strategic position leaves it “well positioned” to deliver sustainable value as it moves into 2026.
This report is the first full-year disclosure from FijiCare prepared under IFRS 17 and IFRS 9 and therefore establishes a new baseline for investors and regulators assessing the insurer’s performance. By adopting the standards ahead of the Reserve Bank deadline, FIL has reduced near-term regulatory implementation risk and set clearer comparatives for future reporting periods.
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