Fleming discusses subsidiary

By SHIRLEY MAULUDU
BSP Life Fiji, a subsidiary of the BSP group, has a total assets of about K1billion, group chief executive Robin Fleming says.
Fleming said most of the business assets were in Fiji.
“It is the largest life insurance business in Fiji and is also the second largest funds management business in Fiji after Fiji National Provident Fund,” he said.
“Total assets of that business is almost K1billion.
“In Fiji, it is almost K1billion and many of those assets are iconic businesses in Fiji.
“We own 66 per cent of the Sofitel business, a hospital, a poultry business.
“We have private equity investments and other investments in the liquids or the investment stocks in Fiji.”
BSP Life Fiji, formerly Colonial Fiji Life Ltd, is a leading provider of life and health insurance products in Fiji and had been serving the people of Fiji since 1876. It is wholly owned by BSP.
Fleming further noted that the types of products that they sold in Fiji were older type endowment product.
“That older type endowment product offers a lot of benefits to policy holders,” he said.
Fleming said they acquired 20 branch network of colonial in Fiji when they bought the group from Commonwealth Bank of Australia.