BSP Life Eyes $2bn: Nacola
BSP Life is targeting a $2 billion surpass on its investment portfolio in a few years’ time.
The Life and Health Insurance provider recently celebrated its Investment Portfolio exceeding the $1billion, making it the second institutional investor to do so, after the Fiji National Provident Fund.
BSP Life managing director Michael Nacola said it has been their vision for over 140 years to surpass the $1 billion.
“Our vocabulary now changes from million to billion. No more 500 million or 700 million portfolios now we are a $1 billion investment company.
“This business is founded on a very proud legacy; the first policy having been sold in 1876 by the then Colonial Mutual Life Assurance Society of Australia (CMLA).
Mr Nacola highlighted over the years the company operated under the CMLA brand, Colonial brand and most recently in the last 13 years as the BSP Life brand.
“As a business we’ve been around a long time around 145 years and as a brand around 13 years.” Mr Nacola said the celebration was about the legacy that they continue to preserve.
Grateful for trust
“Most importantly it’s about the generation of customers that have placed their trust in BSP Life.
“We find the relationships we have forged over the years is more than a commercial relationship, it has become a personal relationship we are extremely grateful in your trust in us.
“Without your trust we wouldn’t be where we are today.
He said they looked forward with optimism as there are a lot of opportunities. “Our countries in the verge of big things ahead.
“We told our team $1 billion is now history we now set our sights on $2billion and we must achieve it in a much shorter time than 145 years.
That can only happen with continued faith of our customers and the partnerships we’ve forged within the private sector with government to realise the ambitions of not just BSP Life as an entity but also for our country.
He said they have ambitions to grow BSP Life’s footprint across all industries in Fiji.
Prime Minister Sitiveni Rabuka said the achievement was a testament of the power of robust public-private sector partnership to shape the fortunes of our nation. “BSP Life’s $1billion investment portfolio represents the culmination of strategic decisions, calculated risks, and a shared commitment to progress. “This is the kind of commitment we want from the private sector for growth and prosperity in our country.”
Mr Rabuka reaffirmed the People’s Coalition Government 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.
“New investments mean more jobs, improved infrastructure; education; healthcare and better standards of living.
“The People’s Coalition Government is determined to make meaningful changes to facilitate the approval and implementation of new investments, in particular large capital projects,” Mr Rabuka said.