$6.1m Profit for FijiCare

The FijiCare Group announced a record consolidated profit after income tax of $6.1m compared to $1.6m in the previous corresponding period.

FijiCare Insurance Limited released the Group audited consolidated financial statements for the year ended December 31, 2021.

The key highlights from the 2021 audited financial statements include:

- The increase in consolidated net revenue from insurance activities from $4.4m to $9.5m attributable to prudent underwriting and efficient claims management; and

- Efficient use of assets to diversify the Group’s investment portfolio.

FijiCare executive director, Avi Raju said: “I would like to congratulate the Board, Management and Staff for a stellar performance in 2021.

“The results have been achieved despite the operational challenges of COVID-19 and this has led to overall increase in shareholders’ value from $16.3m in 2020 to $21.9m in 2021.

“VanCare has yet again delivered solid results towards the Group and the highlight has been the initiation of MIOT Pacific Medical which will see the opening of a chain of medical and diagnostic centres throughout Fiji on a fully integrated digital platform,” he said.

“As for 2022, we remain optimistic with travel restrictions easing off; but we are also prepared to position ourselves to face local and global economies impact on the Group.”

Meanwhile, the directors’ declared dividends of $430,389 during the year ended December 31, 2021 out of retained earnings as at December 31, 2020.

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