Bona Life bounces back yet again

With a portfolio of over P700 million in policies, Bona Life was placed under statutory management last 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 the recapitalisation of the business, which saw the firm’s founder, Regina Sikalesele-Vaka, exit early in January 2020.