IT was a triple celebration for the Bank of South Pacific on Thursday as it unveiled its new BSP Life customer service centre, launched the rebranding of Dominion House as well as the official opening of its Thomson St branch.
The refurbishments, according to BSP Life general manager sales and distribution Michael Nacola, cost the BSP group well over $1m.
Several dignitaries, stakeholders, business fraternity and staff members filled the arcade sandwiched between Village 6 cinemas and MHCC in Suva.
President Ratu Epeli Nailatikau and Adi Koila made a special appearance before chief guest Reserve Bank of Fiji governor Barry Whiteside officially opened the celebrations, switching on the lights for the new BSP Life Centre.
BSP country manager Kevin McCarthy said the branch had been closed for five weeks to allow transformations to take place — adding it had been designed to give customers a better flow through the branch and to provide increased privacy for those customers taking new loans or opening new accounts. "Following RBF's release of the 2011 insurance annual report, it is now a matter of public record that BSP Life recorded a 32 per cent growth in new business sales for 2011," Mr McCarthy said.
"BSP Life has retained its leading market position by in-force annual premium rankings in life insurance excluding single premiums with a market share of 60 per cent in 2011."
Mr McCarthy said BSP Life also commanded 43 per cent of the term life market and a sizeable segment of the medical insurance market.