President Ratu Wiliame Maivalili Katonivere highlighted the importance of capital markets in promoting economic growth, fostering innovation, and generating wealth. At the official listing of Sun Insurance on the South Pacific Stock Exchange (SPX) on Thursday, he noted that capital markets provide businesses with vital access to funding, allowing them to expand and create jobs.
The President remarked that for investors, these markets present opportunities to invest across various companies and sectors, thus supporting the development of the national economy. He described Sun Insurance’s public listing as a testament to the company’s financial health and forward-thinking vision.
Ratu Wiliame stated, “Sun Insurance is creating new avenues for investment and growth, ultimately benefiting its customers, employees, and the broader community.” He praised the company’s innovative approach, which has positioned it as a leader in the market, providing reassurance to many individuals and businesses across the nation.
Established in 1993 as National MBF Insurance, Sun Insurance has been a key player in Fiji’s insurance sector. Following a change of ownership in 1999, the company was rebranded, beginning a new chapter marked by growth and innovative practices.
The President noted, “The rebranding process has allowed Sun Insurance to branch into the real estate sector, demonstrating its dedication to delivering lasting value for stakeholders. Additionally, the construction of Sun Center Two highlights the company’s commitment to investing in the nation’s development.”
He also acknowledged the collaboration of the company with its agents, brokers, and corporate partners in propelling this 100 percent Fiji-owned general insurance provider forward. The commitment of Sun Insurance to excellence, integrity, and customer-focused values aligns well with government objectives aimed at economic growth and social progress.
Furthermore, President Katonivere encouraged business leaders to leverage the opportunities that capital markets present, emphasizing that listing on the stock exchange not only facilitates access to capital but also bolsters corporate governance, transparency, and credibility. The listing of Sun Insurance adds greater representation of the insurance sector on the SPX, which is essential for providing diverse investment options to investors. The company’s initial public offerings have brought thousands of new investors to the SPX, expanding the investor base and enhancing the overall landscape of capital markets.