The official launch of AMA Insurance Company has marked a defining moment for Fiji’s financial sector, with the company pledging expanded insurance coverage, stronger competition, new employment opportunities and enhanced resilience for families and businesses across the country.
Prime Minister Sitiveni Rabuka who officially launched the company says the entry of a new institution into Fiji’s insurance sector signals confidence in the economy and in the long-term prospects of the nation.
He says insurance is not merely a financial service; it is a cornerstone of resilience.
INSERT: PM on insurance 24th Feb
Rabuka says Fiji’s general insurance industry holds total assets of $709.1 million, accounting for 1.9 percent of the entire financial system, while insurance penetration remains low at just 3 to 4 percent.
He also highlighted the broader economic outlook, stating that Fiji’s economy grew by 3.4 percent in 2025, following 3.5 percent growth in 2024, marking four consecutive years of expansion.
He says growth is projected at 3.0 percent in the coming year, with stability expected through 2027 and 2028.
He adds that inflation stood at -2.5 percent in January 2026, while foreign reserves remain at approximately $3.7 billion, sufficient to cover 5.3 months of retained imports.
The Prime Minister says the name ‘AMA’ itself comes from the ama of the canoe, the outrigger that provides mobility, balance and stability.
He says that this is symbolic and appropriate and it reflects the assurance and steadiness that quality insurance seeks to provide to families and enterprises alike.
He further underscored the significance of regional partnership, saying that AMA Insurance originates from Samoa and reflects the confidence Pacific nations place in one another.
Rabuka expressed confidence that the company will contribute meaningfully to the resilience, security and wellbeing of the Fijian people.
AMA Insurance Chairman, Tuiaopo Andrew Ah Liki describes the milestone as historic, saying that the company is the first new general insurer to be licensed in over 25 years in Fiji.
He emphasised that the granting of the licence was not simply an approval for a new company, but a reflection of Fiji’s commitment to financial sector development under the measured and strategic leadership of the Reserve Bank of Fiji.
He says AMA Insurance, a subsidiary of Samoa's Apia Insurance Company, enters the market with a commitment to expand meaningful coverage, particularly as many Fijians and businesses remain underinsured against climate risks, disasters and emergencies.
He says the company will initially employ 10 to 12 Fijian professionals, growing to between 15 and 20 within 18 months.
INSERT: AMA Chairman on insurance 24th Feb
The Chairman says that in insurance, a claim is never just a number; it is someone’s home, someone’s business, someone’s livelihood.
He says insurance isn’t about collecting premiums; it’s about keeping promises.
He stressed that AMA is not entering Fiji to disrupt recklessly, but to contribute responsibly by expanding access, improving affordability, and strengthening resilience across communities.
He says that this is Pacific capital invested in the Pacific, and that they are not entering Fiji as strangers but as Pacific family.
Tarlochan Singh has been appointed as the Chief Executive Officer of the company, and he brings over 15 years of senior experience in insurance and financial services.
Meanwhile, Annie Rogers will serve as the Corporate Governance Advisor, and she is the former Chief Manager of Economics at the Reserve Bank of Fiji.
The Chairman also introduced a five-member Board combining regional experience and local expertise, including Fiji's Rosie Fong and Isoa Kaloumaira.
Fong brings over 45 years of leadership in banking and financial services, including senior roles at ANZ and HFC Bank, while Kaloumaira is the former Managing Director of the Fiji Development Bank and inaugural CEO of the iTaukei Trust Fund Board, with more than four decades of experience in development finance and corporate governance.
