2001.11.16.

First Day Cover:

4 stamps

Printing: Offset lithography
Paper: PVA gum 110gsm
Stamp Size: 31.5 x 48.00mm
Perforation: 14 per 2cm
Values: 17c, 48c, $1, $3
Designer: Mr. George Bennett
Printers: Cartor Security Printing

This year Colonial celebrates its 125th anniversary in Fiji after opening its first overseas branch in Levuka, Ovalau in 1876, and two years after Cession.

This development followed a historic visit in 1874 to the Fiji Islands by Mr J G L Innes who was the then Chairman of Colonial's Management Committee in New South Wales as well as being Attorney General in that Colony. He accompanied the Governor-General of New South Wales, Sir Hercules Robinson,
to Fiji for the Deed of Cession Ceremony at Nasova in Levuka. Mr Innes actually read the Deed of Cession in English at the ceremony and was later knighted for his part in this important page of Fiji's history.

A local committee was formed to superintend Colonial in Fiji. Its members were Mr J Herman de Ricci (Chairman), Mr Charles Drury, the American Vice-Consul, Mr George Smith, a Levuka merchant, and Mr George Morgan as Secretary.
The first policy written was No. 8801, a whole life policy for 500 pounds, dated 16 November 1876 on the life of a Barrister, Mr J H Garrick, who replaced Charles Drury on the Society's local committee in 1890.

Until 1910 the New South Wales branch of the company was responsible for Colonial affairs in Fiji. In that year Henry Marks and Company became Colonial agents in Fiji. Morris Hedstrom Ltd took over as managing agents in Fiji on 25 January 1929, and the New Zealand branch assumed authority over Colonial's interests in 1938.
A Field Executive, Mr J H Tenant, was appointed in 1951 to manage the field operations. He operated from an office above the retail store of Morris Hedstrom Ltd for a few years, but then Colonial took over the office in Millets Buildings.

Mr H G Bridge replaced Mr Tennant in June 1959 and six months later Colonial purchased the present site, which was then occupied by Central Buildings. Morris Hedstrom relinquished the Managing Agency and the local administration became the responsibility of Mr Bridge who was designated Resident Manager

The demolition of Central Buildings commenced in November 1963 and the new building, as it now stands, was completed in December 1965. The Governor, Sir Derek Jakeway, conducted the opening ceremony. At that time there were 11 office staff and 10 field staff. Mr Oliver Edwards replaced Mr Bridge in 1973 and in that same year
a sales office was established at Lautoka. A year later an office was opened in Labasa.
After serving as Sales Manager and Marketing Manager, Mr Tomasi Vuetilovoni was appointed the first Fijian Manager for Fiji in January 1983. Computerisation of all systems began in 1986.

The 1990s were a period of change and diversification of Colonial's interests in Fiji. This began with the acquisition of the health care company Blue Shield (Pacific) Insurance Co Ltd in 1991. In 1995 Colonial purchased the Life business from The National Mutual Insurance Company. The company Colonial Mutual Life Assurance Society Limited was officially demutualised in April 1997 and the structure of the Local Board changed to an Advisory Council and a separate Executive Board.

Colonial acquired a 51 per cent stake in the National Bank of Fiji in February 1999. Soon afterwards Mr Vuetilovoni retired and Mr Simon Swanson was appointed General Manager, redesignated to Managing Director shortly after. Later that year Colonial went into partnership with other local investors and Mayne Nickless of Australia to form Health Care Pacific, owners and operators of Fiji's first private hospital located in Suva.
At the end of 1999 Colonial launched a new managed funds company, Colonial First State Investments, with three unit trust funds. Colonial also redomiciled from a branch of the Australian Company to become incorporated in Fiji.

In the year 2000 Colonial expanded its operations into the pacific region opening offices in Tuvalu, Tonga and Samoa.
Taking Colonial into its 125th year and beyond, in Fiji and the Pacific is Mr Michael Walsh who replaced Mr Swanson as Managing Director from October 2001
Colonial has rapidly grown to be the allfinanz service player in the Fiji economy with interests in insurance, mortgage and commercial lending, banking, health care and managed investment funds. The Group employs over 700 people with over 53,000 life policies in force, over 19,300 people with health covers and over 14,000 Fiji shareholders in the ultimate holding company of Colonial, Commonwealth Bank of Australia.
Colonial, a proud corporate citizen of Fiji for 125 years

Catalogue index
Sitemap
To Main Page