Good evening and Ni Sa Bula Vinaka
2.0 I thank the Insurance Association of Fiji for hosting this remarkable event. Your theme this year – “Lead, Deliver, and Thrive” – is timely and inspiring.
3.0 Tonight is about more than recognising achievement. It is also about reflecting on the essential role that insurance plays in building a safer, fairer, and more resilient Fiji.
A Pillar of Stability in Our Financial System
4.0 Insurance is more than a business – it is a public good. It is a promise of security, a foundation for economic stability, and a safety net for our people.
5.0 In a country like Fiji, which faces the constant threat of cyclones, floods, and other climate-related disasters, a strong insurance sector is essential for recovery and resilience.
6.0 In 2023, our insurance sector showed strong growth. Combined assets of our life and general insurers reached $2.7 billion – over 9% of Fiji’s total financial system assets. This is no small achievement.
7.0 But the real value of insurance cannot be measured in numbers alone. Its value lies in helping families rebuild after a cyclone, enabling small businesses to reopen, and giving people hope during their most difficult times.
A Government Committed to Partnership
8.0 The Fijian Government sees the insurance industry as a key partner in our mission to eliminate poverty and improve the lives of all Fijians – especially our most vulnerable communities.
9.0 The Fijian Government, in partnership with the Reserve Bank, insurers, and development partners, has expanded affordable insurance for vulnerable communities. Initiatives include microinsurance for over 86,000 social welfare recipients, innovative parametric disaster insurance, and products supporting women and rural areas.
10.0 Since 2018, over $20 million has been paid in claims, with rapid payouts aiding recovery after disasters. These efforts, under the National Financial Inclusion Strategy (NFIS), strengthen financial resilience, protect livelihoods, and promote inclusive growth through strong collaboration and regulatory support.
10.0 We must move from coverage for some to protection for all.
A Sector Shifting from “Promise to Pay” to “Promise to Help”
11.0 I commend the industry’s shift from simply paying claims after disasters to actively helping people reduce risks and make better choices.
12.0 We now see policies that encourage healthier lifestyles, safer driving, and climate-friendly practices. This change reflects the maturity of our insurance sector – an industry that promotes long-term wellbeing, resilience, and sustainable growth.
Inspiring the Next Generation
14.0 A highlight of tonight is the recognition of school students who took part in the national insurance awareness logo competition.
15.0 To our young winners – vinaka vakalevu. Your creativity is helping raise awareness about the importance of insurance. This is not just an art project — it is an investment in the future. We want our young people to understand financial security so they can build confident and resilient lives.
16.0 The Insurance Association’s engagement with youth ensures that the next generation will be better prepared to handle risks and opportunities.
Celebrating Excellence and Legacy
18.0 We also gather to honour the professionals who keep this industry strong – brokers, agents, underwriters, executives – and especially the recipients of the Lifetime Achievement Awards.
19.0 Your decades of service have built trust in this industry. We also celebrate tonight’s top performers whose dedication sets a high standard for us all.
20.0 The launch of the Insurance Association’s new logo is another milestone – a symbol of unity and forward movement for the industry.
Innovation Through Inclusion
22.0 True innovation is inclusive. It means developing products for those who need them most – single mothers, market vendors, cane farmers, and students.
23.0 Insurance should not be a privilege. It should be a basic right for everyone – giving all Fijians the ability to recover, rebuild, and restart after hardship.
24.0 Let this gala inspire not just celebration, but collaboration, between competitors, regulators, the private sector, and government.
Three Strategic Imperatives for a Future-Proof Insurance Sector
24.0 When I travel around Fiji, I ask myself: Can a dalo farmer in Naitasiri file a claim as easily as a banker in Suva?
25.0 The answer we work towards must be yes. To achieve this, we need:
A Vision for the Future
28.0 As your Prime Minister, I reaffirm Government’s full support for the insurance industry.
29.0 Our shared mission is to:
30.0 The true success of our insurance sector is measured not just in profits – but in peace of mind, opportunity, and dignity for every Fijian.
Closing
31.0 Ladies and gentlemen, tonight, we see more than glamour and celebration. We see a golden opportunity to lead, to deliver, and to thrive – together.
32.0 Let us seize that opportunity with courage, collaboration, and a shared commitment to serve all our people – especially those most vulnerable.
33.0 Let us ensure that no one in Fiji is left without the means to recover from life’s challenges, whether from disaster, illness, or economic hardship.
34.0 May tonight be not only a celebration of past achievements, but a pledge to a future where every Fijian can stand on solid ground, free from the fear that a single event will push them into poverty.
35.0 God bless you all, and God bless Fiji. Vinaka vakalevu.