BSP Life has unveiled its 150th anniversary logo, marking a journey that began in 1876, two years after Fiji was ceded to Great Britain. It’s first life insurance policy was issued under Colonial Mutual Life Assurance. It subsequently operated under the Colonial Fiji Life brand for several decades, becoming a respected and influential local institution.
In 2010 the BSP Financial Group acquired the business, re-branding to BSP Life. It is now a leader in Life and Health insurance serving over 100,000 Fijians. BSP Life is also the country’s second largest investor with a portfolio of $1.25Billion, second only to the Fiji National Provident Fund.
BSP Financial Group CEO Mark Robinson, BSP Life Managing Director Michael Nacola unveil the 150th logo and celebrate with Board Directors and staff.
Managing Director Michael Nacola stated, “2026 is a milestone year for us. Our proud history of 150 years is built on generations of dedicated staff and insurance advisors, many of whom committed their whole careers to supporting our purpose of championing prosperity for our communities, standing steadfast through periods of change. They’ve laid an enduring legacy that we are privileged to uphold.”
Mr Nacola added, “We pay special tribute to our loyal customers. They’ve shaped who we are, not only as a trusted insurance brand but also a vital contributor to our economy. For 15 decades, our existence has been anchored in the confidence our customers place in us.”
BSP Life also announced a record $110 million in customer benefits paid in 2025. This comprised $79 million in living benefits, $21million in medical benefits, and $10 million in death claims. The payouts averaged $2.1million a week and over $400,000 each working day.
Mr Nacola explained, “We’re delighted to see the year-on-year increases in benefit payouts with 2025 exceeding $100 million for the first time. Pleasingly, 72% of payouts were for life insurance maturities and periodic cash payments. This means thousands of our customers are reaping the benefits of their policies while they’re alive, helping them meet financial goals. These payouts are tied to the positive performance of our investment portfolio, strong governance and balanced actuarial oversight, cohesive risk framework, supported by an efficient operating model.”
BSP Life has paid a cumulative $449million over the last 5 years.
Mr Nacola concluded, “We have an exciting year ahead with digital and product innovations in the pipeline, together with a series of investments announcements that build further value for customers and expand our contribution to economic growth. We look forward to welcoming new customers as we spread the success of BSP Life with more Fijian families.”
Further information is available at www.bsplife.com.fj.
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