Siddhartha Mohanty, the CEO and Managing Director of the Life Insurance Corporation of India (LICI), recently made a landmark visit to Fiji, marking the first such visit by LICI’s top executive in over ten years. His meeting with Fiji’s Deputy Prime Minister, Professor Biman Prasad, underscores the strengthening financial and economic relations between India and Fiji.
The discussions during this visit focused on LICI’s pivotal role in the Fijian financial sector, especially concerning its long-term investments. Topics included enhancing economic partnerships, reinforcing financial security, and exploring opportunities for fostering Fiji’s growth and resilience.
Since its operations began in Fiji in 1956, LICI has established a substantial footprint, managing 62.5% of the life insurance policies in the nation and supporting over 61,000 policyholders. The corporation is committed to community development, demonstrated by its significant financial contributions. In 2023 alone, LICI Fiji disbursed nearly $55 million in claims and has continued this support into 2024, with an additional $38 million settled for claims early in the year.
This engagement is poised to strengthen the partnership between LICI and Fiji, paving the way for future collaborations that promise to bring lasting advantages to the Fijian economy. LICI’s dedication to social responsibility is evident through its involvement in various community initiatives in Fiji, emphasizing its focus on the welfare of the communities it serves. This cooperative spirit bodes well for economic development and stability in the region, suggesting a hopeful trajectory for both countries moving forward.
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