The general insurance sector in Fiji has maintained a positive performance in 2023, growing 8%.Despite facing challenges such as rising claims costs and increasing competition, the sector showed resilience and is poised for continued progress, according to the Reserve Bank of Fiji’s (RBF) 2023 Insurance Annual Report, which was tabled in parliament recently.
The report stated that total combined assets of the life and general insurance sectors increased by 7.9% to FJ$2.7 billion, representing 9.2% of the gross assets of the Fijian financial system.
It continued: “The domestic gross . . .
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