Page 26 - IB July 2018

Finance

BSP Life pays F$21m in bonuses needs as well as 10 Customer Service
Centres Fiji-wide.
“We will continue to seek innovative
ways to sustain this to encourage all
By Nanise Volau existing policyholders to maintain their
life insurance policies with us and to also
BSP Life investment portfolio is now val- attract those who have never taken up life
ued at $660m (USD315.29m), positioning insurance policies.”
the life and health insurance provider as BSP Life is the only insurer in Fiji that
one of the largest leading institutional allocates two types of bonuses; one is the
investors in the Pacific. reversionary bonus and the other is a
And the insurance company believes its terminal bonus.
numerous public awareness campaigns Reversionary bonus is allocated from
held throughout Fiji’s main centres on the returns of BSP Life’s investment portfo-
importance of having an insurance policy lio and has remained at 2% of the sum
were paying off now. insured plus accumulated bonuses and
Last month, BSP Life, allocated F$21.4m is applied on a compounding basis. This
(USD$10.2m) in bonus to its customers. generates better value for customers com-
This brings total bonus allocations for the pared to simple bonuses.
last three years to $53.8m (USD$25.7m). Terminal Bonus on the other hand is a
BSP Life’s Managing Director Malakai loyalty reward, based on the number of
Naiyaga said they are delighted to officially BSP Life’s Managing Director Malakai Naiyaga years the policy has been with BSP Life.
announce the 2017 bonus allocation for The terminal bonus rate for 2017 is 0.65%
their policyholders which was an increase increasing from 0.55% in 2016. Terminal
from $19.8m (USD$9.47m) in 2016 and BSP Life’s strong commitment to maximis- bonus is added when the policy is paid out.
$18.7m (USD$8.94m) in 2015. ing returns for policyholders. Naiyaga explained that bonuses were
This bonus allocation will add further BSP Life has more than 80,000 policy- important for policyholders as they
value to customer’s policies and will as- holders, over 100,000 policies and 140 added value on the policies which in turn
sist them with future financial plans, said professional advisors licensed by the increases the payouts at maturity or in
Naiyaga. Reserve Bank of Fiji, plus broker partners the event of untimely passing of the life
The year-on-year increases demonstrate to provide tailored solutions to customer insured, to beneficiaries.

The Pacific Community (SPC)
invites applications for the position of:

DIRECTOR-GENERAL, located at SPC’s headquarters Key selection criteria
in Noumea, New Caledonia Knowledge and experience
• Understanding and appreciation of the key technical and regional issues
The Pacific Community (SPC) is the principal scientific and technical • Technical experience in areas relating to the purpose of the organisation
organisation in the Pacific region, supporting development since 1947. We • Extensive understanding of the geopolitical aspects of the region
are an international development organisation owned and governed by our • Demonstrable experience in formulating and articulating a vision
26 country and territory members. In pursuit of sustainable development • Extensive leadership and management experience, preferably in a development
to benefit Pacific people, our organisation works across more than 20 organisation
sectors. We are known for our knowledge and innovation in such areas as • Experience in the management and delivery of organisational change
fisheries science, public health surveillance, geoscience, and conservation • Experience in driving, developing and maintaining strategic collaborative
of plant genetic resources for food and agriculture. relationships with member governments, development partners and donors
Key accountabilities Qualifications
• Vision, leadership and management – Provide the vision, leadership and • Master’s degree is essential, with a doctorate degree being desirable.
direction of the organisation, and uphold and promote its corporate values. Language skills
• Policy, development and change management – Lead continuous • SPC’s working languages are English and French. A sound working knowledge
improvement and reform across SPC to maximise the efficiency, coordination of both languages would be an important advantage.
and effectiveness of its work and service delivery.
• Governance – Ensure the effective leadership and management of SPC in Application procedure
accordance with the Director-General’s accountability to the governing body. Applications should be submitted by 15 September 2018, by email:
• Work programme service delivery and performance – Liaise at the highest recruitdg@spc.int, in MS Word or PDF format. Alternatively, paper
level with SPC member countries and territories to ensure SPC’s programmes applications can be addressed to the Director-General, Pacific Community,
are relevant and effective. BP D5, Noumea Cedex, New Caledonia, to arrive by 15 September 2018.
• Financial security and property – Oversee SPC’s financial security, including Applicants should provide a cover letter that includes full personal details,
preparation and revision of SPC’s annual budgets, monitoring of expenditure describes their qualifications and experience, and explains how these meet the
and cash flow, and annual audit of accounts. specific requirements of the position. Relevant previous appointments, present
• Relationships and advocacy – Maintain strong working relationships across position and salary, and the names and addresses (including telephone and email
SPC, and drive, develop and maintain strategic collaborative relationships with contacts) of three referees must also be provided.
all member governments and administrations of SPC, development partners
and other stakeholders, and ensure they are kept informed of developments The application should address the selection criteria and specific responsibilities
within SPC. listed above and in the recruitment notice and job description (link below), and
should describe the applicant’s vision for the Pacific Community. A detailed
Please go to the following link for all recruitment documentation, including a curriculum vitae should be provided.
full job description, selection criteria, salary, and terms and conditions:
www.spc.int/director-general-recruitment
26 Islands Business, July 2018