Siddhartha Mohanty, the CEO and Managing Director of the Life Insurance Corporation of India (LICI), recently visited Fiji and met with the nation’s Deputy Prime Minister, Professor Biman Prasad. This significant visit marks the first time in over a decade that LICI’s top executive has traveled to Fiji, highlighting the growing financial and economic relations between India and Fiji.
During the meeting, discussions centered on LICI’s important contribution to Fiji’s financial sector, particularly regarding its long-term investments. Key topics included bolstering economic partnerships, enhancing financial security, and exploring further opportunities that could aid Fiji’s growth and resilience.
LICI has established a strong presence in Fiji’s financial landscape since it began operations in 1956, managing 62.5% of the life insurance policies in the country and serving over 61,000 policyholders. The corporation is recognized for its support of community development and the financial well-being of its clients. In 2023, LICI Fiji disbursed nearly $55 million in claims and has continued to make significant contributions in 2024, recently settling an additional $38 million for early-year claims.
This recent engagement is expected to further strengthen the partnership between LICI and Fiji, paving the way for future cooperation and investment that can provide lasting benefits to the Fijian economy.
As part of its ongoing commitment to social responsibility, LICI is also involved in various community initiatives in Fiji, underlining its dedication to not just business but also the well-being of the communities it serves. This positive outlook on cooperation suggests promising prospects for economic development and stability in the region.
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