Small market with big potential in TPL and PMI sectors

Because of its common law legal system, third party liability premiums in Fiji are at a higher level than in many other developing economies. Fiji is unusual in having a large private medical insurance market, stimulated by limited state health care and a practice of evacuating surgical cases to private hospitals in Australia and New Zealand. Despite these positive factors, however, insurance penetration is almost entirely limited to the urban population: the majority of Fijians are subsistence farmers with little to insure and no money for non-essential purchases

The Fiji insurance market comprises five non-life insurers and two specialist health insurers, as well as two life insurers. Although there are no published figures for company premium incomes, the market is dominated by the three foreign-owned motor companies QBE (Fiji), Tower and New India. The largest domestic company, Sun, writes over 50% of the compulsory third party (CTP) market.