SUNBIZ

FijiCare Records $2.7m Profit For 2018

With this strong growth in revenue and profitability, FIL has plans of expanding their operations to countries like Solomon Islands, Samoa and Tonga.
06 Jun 2019 12:23
FijiCare Records $2.7m Profit For 2018

FijiCare Insurance Limited (FIL) recorded a net profit of $2,730, 231 for 2018 compared $1,260,356 in 2017.

In terms of returns to shareholders, FIL’s share price witnessed a 12 month cumulative growth of 33.6 per cent as at December 2018 and a further 16.1 per cent increase as at May 14, 2019.

With this strong growth in revenue and profitability, FIL has plans of expanding their operations to countries like Solomon Islands, Samoa and Tonga.

This was confirmed by FIL chairman Avi Raju during the FIL annual general meeting at Suva’s Grand Pacific Hotel yesterday.

Currently, FIL operates in Vanuatu, which has small market with other insurance players.

Mr Raju said FIL has made strategic decisions in terms of what products to offer to the Vanuatu market.

“We will be introducing new products in Fiji and new products in Vanuatu as well,” Mr Raju said.

“We will be expanding geographically and we are looking of going into the Solomon’s, Tonga and Samoa.

“Work has already been started and once we get all the relevant approvals we will make more announcements.”

“By this time next year you will be able to see a whole different FIL.”

Mr Raju said with the introduction of the digital platform this would help build their new products like the wellness and vitality products.

“This is a proactive way of introducing ways people can use digital media to reduce their NCDs to create awareness,” he added.

Screenshot 2019-06-06 at 12.21.53 PM

Dividend:

Based on 12 month rolling dividend as at December 2018, FIL shareholders received a dividend of $0.04 per share which amounted to a dividend return of 2.6 per cent.

FIL has also proposed to declare a final dividend of $0.08 per share for the 2018 financial year.

Feedback: karalaini.tavi@fijisun.com.fj

Fiji Sun Instagram
Subscribe-to-Newspaper
error: