History

May 2011

  • Colonial Fiji Life Limited rebrands to BSP Life (Fiji) Limited.

December 2010

  • Colonial Fiji Life Limited announced the appointment of David Goodsall as their Appointed Actuary. He is a Director of Synge and Noble Pty Ltd. a specialist advisory firm based in Sydney, Australia. He is a Fellow of the Institute of Actuaries of Australia, a Chartered Enterprise Risk Analyst, an Associate of the Society of Actuaries and a Member fo the Australian Institute of Company Directors.
  • Mr Edward Waters and Mr Kenneth Boag were also appointed to serve on the Colonial Fiji Life Limited Board. Edward Waters has held various senior positions in the banking and insurance industry. His insurance experience has taken him to various parts of the world managing ING Life Insurance in Australia, Argentina and Spain. He holds a Bachelor of Science (Mathematics) from Sydney University, a Bachelor of Arts (Economic) and Master of Business Administration from Macquarie University. He is a Foundation Fellow of the Australian Institute for Company Directors. Kenneth Boag has had a wide experience in company management, strategic and operational issues including risk and compliance issues. He served in various executive positions with AMP Insurance, Munich Reinsurance Company of Australia and Westpac Life before being appointed Managing Director of Tower Life Australia for 10 years. He is a Fellow of the Institute of Actuaries in the UK and Australia and an Associate of the Society of Actuaries in the USA.

October 2010

  • BSP is the first corporate company in Fiji to sign the National Employment Centre agreement with the Government of Fiji which makes us the first company to adhere to the National Employment Centre Decree of 2009 agreeing to take on 5% of the staff roll under this scheme.
  • BSP runs the 'Go Green' environmental campaign to promote the preservation and cleanliness of the natural environment, that is so critical to the daily lives of the people of the Pacific.

September 2010

  • BSP announces the decision to retain its Life & Health Insurance business with a view to realign its Fiji operations and expand across the Pacific.

July 2010

  • BSP Group Board in PNG meets and visits Fiji operations.
  • Malakai Naiyaga appointed the Managing Director for Colonial Fiji Life Limited. Malakai served in various senior executive roles in the Colonial Fiji Group between 1987 to 2004 after which he was seconded to CBA Indonesia. He was the President and Chief Executive of Commonwealth Life. He progressed to the Director SME and Commercial Banking in May 2008 and held this position until his return to Fiji.

June 2010

  • BSP launches SMS Banking a first for Fiji and the Pacific.

May 2010

  • BSP announces its intention to seek expressions of interest for the Colonial Fiji Life Limited and its wholly owned subsidiaries from specialists in that industry.
  • BSP launches the BCN Convertible Notes on the South Pacific Stock Exchange allowing Fiji citizens and Fiji businesses to buy an interest in BSP that are convertible to Fiji‐class shares at the maturity of the notes.

March 2010

  • Rebranding of CNB launched with the "Love Your Bank" campaign. BSP announces its co‐sponsorship of the Digicel Fiji 7s team.
  • BSP sponsors the NCSMED Small Business Expo. BSP provides $100,000 to 4 donor organisations towards relief efforts after Hurricane Tomas.

February 2010

  • Kevin McCarthy appointed Fiji Country Manager heading BSP's Fiji operations.

December 2009

  • BSP buys the Colonial Group. So all the companies within the Colonial Group officially become part of Bank South Pacific Group.

July 2009

  • Bank of South Pacific announced their interest to acquire Colonial Fiji Group of companies.

June 2009

  • Restructuring of the Colonial Life & Health and Group Operations division comes into effect on 1 June 2009.

January 2006

  • The Commonwealth Banking Group of Australia (CBA) purchased 49% of Fiji Government shares for F$28 million to obtain 100% ownership of Colonial National Bank.

December 2005

  • New Suva Central building opened by the Prime Minister of Fiji. This was a joint venture between Colonial and the Motibhai Group.

2003

  • Colonial sponsored the South Pacific Games and launched new sub brands to the group Colonial brand.

December 1999

  • Domestication for Colonial business in Fiji. New name being Colonial Fiji Life Limited.

October 1999

  • Launched Colonial First State Investments and a suite of three unit trusts.
  • Launched the very first Colonial EasyBank ATM at the Market Branch

August 1999

  • Re‐launched the Colonial National Bank with new look offices and new uniforms for the Colonial family

June 1999

  • Launched HealthCare Pacific, a Joint Venture with Mayne‐Nickless of Australia ‐ one of the world's biggest health providers, Fijian Holdings and Unit Trust of Fiji.

March 1999

  • Completed the Vision and Values workshop for over 700 personnel.

February 1999

  • Purchased 51% shares of the then National Bank of Fiji.

May 1998

  • New Colonial logo with "heart" launched.

January 1998

  • Work commenced on Colonial Offices to standardize look.

May 1997

  • Colonial listing as a Public Company on the Australian and New Zealand Stock Exchange.

December 1996

  • Colonial officially demutualises.

November 1996

  • Scheme Meeting held in Fiji at the Suva Civic Centre where 98% of members voted for demutualisation. Fiji had the biggest turn out compared to other Voting Centres (New Zealand and Australia). Meeting was held via Satellite transmission from Melbourne.
  • Colonial Fiji went through Demutualisation process, changing from a demutual society to a shareholding company.

March 1991

  • Group Board approves Acquisition of Blue Shield.

1990

  • Project work commenced for the acquisition of Blue Shield (Pacific) Ltd. ‐ Team led by Tom Vuetilovoni with Sialeni Vuetaki as Project Manager. Significant work undertaken by Yen Thomson of Group Development, and, Charlie Cahn and Janet Lockett of JMHI, Wellginton.

January 1974

  • Colonial establishes Sales Unit in Labasa.

January 1973

  • Colonial establishes a Sales Unit in Lautoka.

December 1965

  • The new CML Building was completed. The CML Office closed for business in Millett's Building on Saturday, 4 December and reopened in the new offices on the first floor of the CML Building on Tuesday, 14 December 1965, when his excellency the Governor, Sir Derek Jakeway, officially declared the building open. The CML office at this stage consisted of about 11 Office Staff and 10 Field Staff.

November 1963

  • Central Buildings was demolished and this was followed by the erection of the new CML Building.

January 1960

  • The Society bought the present site of the CML Building, which was then occupied by Central Buildings, this was an old timbered two‐storey building which was erected in 1914 by Marlows Limited.

1938

  • New Zealand Branch assumed authority over the Society's interests in Fiji (control having previously been exercised through Sydney).

1929

  • Morris Hedstrom and Company became the Agents in Suva.

1915 - 1923

  • The Society's reports do not mention the existence of any office representative whatsoever. This was undoubtedly a period of transition in the Society's Fijian affairs.
  • In its first three years forty three policies were issued, the total annual premium £669.17.2, £7,000 sum assured was written in the first year, £7,300 in the second and £2,900 in the third.

January 1877

  • The First Policy no. 8801 was issued, a whole of life policy for £500 on the life of Barrister, Joseph Hector Garrick but was backdated to 16 November 1876 (perhaps Mr Garrick's birthday). The life assured being thirty seven years old at entry. Mr Garrick died on 23 February 1908.

November 1876

  • First Policy written on the life of a Barrister, Joseph Hector Garrick.
  • A local Committee was formed to superintend the Society in Fiji. Members were Mr J Herman de Ricci (Chairman), Mr Charles W Drury, the American Vice‐Consul, Mr George Smith, a Levuka Merchant, and Mr George Morgan, a local resident of Levuka was appointed the First Resident Secretary. Hon. J Herman de Ricci served only one year as a member of the Committee.

1876

  • The Colonial Mutual Life Assurance Society Limited opened its first overseas Branch in Fiji (two years after Cession).

1874

  • Historical visit to the Fiji Islands by Mr J G L Innes, Chairman of the Society's Management Committee in New South Wales and also Attorney General in that Colony. Was accompanied by the Governor General of New South Wales, Sir Hercules Robinson for the ceremony at Nasova, Levuka, which commemorated the cession to the British Crown of the Fiji Islands. Mr Innes actually read the Deed of Cession in English at the ceremony and was later knighted for his part in this important page of history.

1873

  • The Colonial Mutual Life Assurance Society Limited was founded in Melbourne, Australia by T Jaques Martin. This was the time which followed the great gold rushes which had led to an overwhelming increase in the Victorian population.
  • In the following years branches were opened in most of the other Australian States (or Colonies as they were in those days).