New Branch for Northern Division
Cyclone Winston damages was paid off in three months, AON says about Fiji Sugar Corporation
Atop insurance broker is eyeing a property in the North to open its fourth branch in
Fiji.
AON (Fiji) Pte Limited has three branches in Suva, Lautoka and Nadi.
The plan was uneveiled at the company’s 25 years of service in Fiji. AON (Fiji) Pte Limited hosted a cocktail reception at the Grand Pacific Hotel,an event that was attended by Government officials and clients.
Chief executive officer and executive chairman, AON New Zealand, Geoff Blampied, said a company sign board was expected to be up in Labasa by the end of the year. He said business has improved for AON (Fiji) Pte Ltd.
“Cyclone Winston was pretty severe and at the time, our client Fiji Sugar Corporation had the largest loss in Fiji’s history,” he said.
“The loss was paid off in three months; that’s the sort of service we like to gain from.
“With a lot of inflation in New Zealand, many do not have adequate insurance levels after a loss. “We’re paying out almost millions each week, but people being paid out often finding that they don’t have enough to rebuild assets. “This is a global problem of under insurance.”
Deputy Prime Minister Biman Prasad said the accumulated funds within the insurance industry have also saved as an investment in the wider economy.
“One of the big discussions with the World Bank IMF Spring meeting was about resilient economies, climate financing.
“We hope and pray that for six months, there is no cyclone, no flooding, because it does have a huge impact on the life of the economy,.”
AON (Fiji) Pte Limited will offer training programmes for its staff. Mr Blampied said one way of doing so was having graduates work for the company.