Bona Life attracts interest from suitors

With a portfolio of P712 million in policies, Bona Life was placed under statutory management in January, after it failed to meet the prudential capital thresholds set by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA).

The life insurer, which was the third largest in the country at the time, had struggled due to a shareholder stalemate over recapitalisation of the business, which saw the firm’s founder, Regina Vaka, exit early in January.