The Reserve Bank of Fiji (RBF) has recently taken a significant step to strengthen and diversify the country’s financial sector by issuing two new licences. According to the RBF board, AMA Insurance Company Limited has been granted approval as a general insurance provider, having met all the regulatory requirements stipulated under the Insurance Act of 1998.
AMA Insurance operates as a subsidiary of Samoa-based Apia Insurance Company Limited. With its entry into the Fijian market, the company is expected to substantially enhance underwriting capacity and claims management within the country’s insurance sector. The introduction of new insurance products will improve risk management solutions and elevate service standards for policyholders, ultimately fostering greater consumer confidence in the sector.
The RBF has welcomed this investment, describing it as a clear signal of increasing confidence in Fiji’s financial industry. Following AMA Insurance’s licensing, the total number of general insurance companies in Fiji has risen to eight, reflecting the sector’s growing development and diversification.
In a parallel move, RBF has granted Sun Capital Limited a corporate broker/dealer licence under the Companies Act 2015. Sun Capital is wholly owned by Sun Insurance and is scheduled to commence operations in February 2026. Its entry into the market is expected to strengthen brokerage and dealer services, enhance competition, and facilitate easier access to capital market products. With Sun Capital’s licensing, Fiji now hosts four licensed brokers/dealers, an essential factor for the continued growth of the local capital market.
The following table summarises the current status of licensed financial service providers in Fiji:
| Service Type | Company Name | Total Licences | Objective & Impact |
|---|---|---|---|
| General Insurance | AMA Insurance | 8 | Increase underwriting capacity, improve claims management |
| Broker/Dealer | Sun Capital | 4 | Enhance competition, facilitate capital market access |
The RBF emphasises that these developments will bolster confidence among both local and international investors. The new entrants are expected to bring innovative products and services, improve operational efficiency, and raise customer satisfaction levels.
Overall, these strategic moves signal a more secure, resilient, and diversified future for Fiji’s insurance and capital markets, reinforcing the country’s position as a stable and attractive destination for financial investment.