to highlight some of these major accomplishments : • the enhancement to its life product offering through the launch of the bula prime product in 2011. • the re - branding of dominion house to bsp life centre, which now accommodates all of bsp life ’ s operations. • the opening of a new customer services centre on the ground floor of bsp life centre. i am told that walk - in customers are averaging 2, 000 per week, double what they were before the office opened. • the opening of a lautoka office, to complement the nadi branch and to provide greater service to customers in the west. • the rollout of new medical products earlier this year, including the introduction of an india evacuation product at very affordable premiums. i understand that bsp life has partnered with the world renowned apollo chain in india which provides a broad range of specialist medical services. access to india is now seamless via hong kong or seoul and the quality of services at apollo, i am told, is world class. in 2012 apollo treated over 60, 000 international patients at their delhi facility alone. i think these numbers provide some indication of the acknowledgement of the quality of the treatment available. bis central bankers ’ speeches • in so far as investments go, the bsp life portfolio has grown to $ 323 million. most of this money is invested in fiji, helping to provide employment for our people and helping to grow our economy. • i also note the strong financial standing of the business as publicly declared in the company ’ s recent key disclosure statement for 2012. this augurs well for future growth and ongoing returns to bsp life policy holders. i am pleased to note a significant investment in marketing by the bsp group to create awareness of the need to invest and protect our financial future. with the take - up of life insurance at less than 15 percent of our population, bsp life has taken a lead role in creating awareness of the critical need for us to have insurance and protect our loved ones. bsp life and bsp bank have also been key partners, along with other stakeholders, in the reserve bank of fiji ’ s ongoing efforts to promote financial inclusion and financial literacy in fiji. launch of bula elite and concluding remarks ladies and gentlemen, it is clear that bsp life has strongly established itself in life and health insurance in the fiji market over such a short period of time. tonight is another special milestone in the company ’ s growth as a major player in fiji ’

engine ”. this, however, was clearly not the case in 2010 when the private sector contributed just 3. 5 percent to the overall 13. 5 percent investment - to - gdp number. i am pleased to say that we have seen a turnaround through 2012 and now into 2013. our indicators are showing high growth, led by greater lending by financial institutions for investment purposes as well as strength in building and construction activity. look around you when you are travelling through suva and other areas on viti levu and you will see the bis central bankers ’ speeches evidence. talk to business people and they exude more positive vibes. our own business expectations survey, where we survey 243 businesses on a semi - annual basis, is reflective of this. this year, the investment - to - gdp ratio will be around 25 percent, of which the private sector ’ s share is forecast at 13 percent. clearly this is a vote of confidence by the private sector in the fijian economy. through all this our foreign reserves have been holding steady and are currently at $ 1. 62 billion ( worth the equivalent of around 4. 7 months of imports ), while inflation was 1. 5 percent at the end of may. the challenge moving forward is to keep this positive momentum going – and, on government ’ s part, to ensure its reform programmes gain ground, and that the deadlines to parliamentary elections continue to be met. the bsp fiji group let me come back to why we are here this evening. it is evident that the bsp group has lifted the game in banking services, and i am assured it will continue to be at the forefront of product and technology innovation as it grows its presence in fiji. it is most pleasing to see that, so far, the profits it has made here are being ploughed back into the country in raising that presence. from a product innovation standpoint, bank south pacific has been a market leader in providing access points of financial services. i understand it now has the largest atm network and the second largest number of eftpos machines. it was also the first to introduce sms banking here. the bank ’ s website also provides 24 - hour on - line banking services, 7 days of the week. on the insurance business, bsp life, as a brand, has been in the market for just over two years, having taken over from colonial life. the company has, however, achieved significant success in a short period of time. i would like