The Insurance Industry in Fiji, Key Trends and Opportunities to 2017

Date: 2015-09

“After contracting by 1.3% in 2009 as a result of the global financial crisis, political instability and damages caused by floods and cyclones, the Fijian economy rebounded and grew by 1.9% in 2011 and 2.5% in 2012. Accommodative government policies, increasing investment in the construction sector and growing tourism acted as driving forces for insurance industry expansion. The gross written premium of the industry recorded a CAGR of 6.4% during the review period, increasing from FJD201.6 million (US$126.5 million) in 2008 to FJD258.3 million (US$144.3 million) in 2012.There were two life insurers and eight non-life insurers licensed to operate in the Fijian insurance industry at the end of 2012.

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