Bank of South Pacific (BSP) Life Insurance now boasts an investment portfolio of one billion dollars; the culmination of the insurance company’s strategic decisions, calculated risks, and commitment to progress.
Speaking at an event in Suva last night to mark the milestone, Prime Minister Sitiveni Rabuka congratulated BSP Life and said the achievement is a testament to the power of robust public-private sector partnership that help shape the fortune of the nation.
He said BSP Life’s $1 billion investment portfolio is the kind of commitment Government wants from the private sector for growth and prosperity in the country.
The Prime Minister also reaffirmed the People’s Coalition Government’s commitment to nurturing a business environment that “is conducive to investments and economic growth.
“Your Government will foster an environment where the public and private sector can thrive together, leveraging each other’s strengths for the benefit of our people,” he said.
“I also strongly encourage collaboration within the private sector and a stronger partnership between our large institutions, including BSP Life, the Fiji National Provident Fund, Fijian Holdings, I-taukei Trust Fund and Unit Trust of Fiji to build a better Fiji.”
Rabuka and his late father were part of the insurance company’s early history when the Colonial Mutual Life Assurance Society of Australia provided insurance cover for them.
This first colonial insurance company has evolved due to the acquisition of its business to what we now know as BSP Life.
Since 1876, BSP Life has been supporting approximately 100,000 customers with life and health insurance needs.