Ritika Pratap 
[File Photo]
BSP Life has today announced a bonus declaration of $38.4million for the 2023 financial year to customers with investment-linked insurance policies.
Managing Director, Michael Nacola says this is the highest-ever bonus declaration in their 147-year history.
Nacola says despite market constraints, they maintained the reversionary bonus and the terminal bonus at the same levels since the increase in 2020.
“And to put it in context, 10 years ago the allocation was about $18 million, and five years ago it was $30 million. So the $38.4 million continues the upward trajectory that we’ve seen in the course of the last decade.”
BSP Life Managing Director, Michael Nacola
Nacola says the ability to sustain high bonuses is supported by their lean and streamlined processes, and a high-returning investment portfolio.
