The Reserve Bank of Fiji (RBF) has recently taken a significant step to bolster the nation’s financial sector by granting licences to two new entities, aiming to stimulate investment and broaden market participation. The RBF Board announced that AMA Insurance Company Limited has been approved as a general insurance provider. The company has fulfilled all regulatory requirements stipulated under the Insurance Act of 1998.
AMA Insurance is a subsidiary of Apia Insurance Company Limited of Samoa. With the commencement of its operations, the company is expected to substantially enhance Fiji’s insurance sector, particularly in underwriting capacity and claims management. The introduction of new products by AMA Insurance will also provide the market with improved risk management solutions, supporting the overall resilience and competitiveness of the industry.
The RBF has welcomed this development, viewing it as a positive signal of growing confidence in Fiji’s financial sector. With AMA Insurance’s entry, the total number of licensed general insurance companies in Fiji has increased to eight, reflecting continued growth and diversification within the sector.
In parallel, the Reserve Bank has granted a licence to Sun Capital Limited as a corporate broker/dealer under the Companies Act 2015. Sun Capital is wholly owned by Sun Insurance and is scheduled to commence operations in February 2026.
The entry of Sun Capital is expected to strengthen the country’s broker/dealer services, enhance competition, and provide easier access to capital market products. With this new licence, the total number of licensed brokers/dealers in Fiji rises to four, marking a significant contribution to the development and accessibility of the domestic capital market.
The table below summarises the current landscape of licensed insurance providers and brokers/dealers in Fiji:
| Service Type | Company Name | Licence Count | Expected Impact |
|---|---|---|---|
| General Insurance | AMA Insurance | 8 | Increased underwriting capacity; enhanced claims management |
| Broker/Dealer | Sun Capital | 4 | Increased competition; easier access to capital markets |
RBF’s proactive measures are expected to make Fiji’s financial sector more robust and diversified, while also enhancing investor confidence both locally and internationally. The new entrants will introduce innovative products and services, improving market efficiency and customer satisfaction.
Overall, these developments signal a promising future for Fiji’s insurance and capital markets, strengthening both their security and growth potential.