DPM Prasad praises Tower Insurance
“TOWER Insurance has, over the years, shown a steadfast commitment to enhancing the financial landscape of Fiji.”
Deputy Prime Minister and Minister for Finance, Biman Prasad, highlighted this during the inaugural ceremony of Tower Insurance – Fiji Revenue and Custom Services complex in Nasese, recently.
“The new branch is testament to their unwavering dedication to serving Fiji, and contributing to the growth of our economy.”
“When we analyse how insurance shapes our economy, it is clear that providers serve four critical functions: protecting against financial loss, promoting economic growth, providing capital and stabilising the economy during crisis points.”
DPM Prasad added that understanding each of these roles shows why the insurance industry was critical to long-term economic development in Fiji.
“The insurance industry in Fiji continues to be committed to driving micro-insurance initiatives as a disaster preparedness mechanism, designing and offering superior value adding life insurance products, as well as ensuring adequate coverage of corporate clients and important businesses in Fiji, through effective underwriting practices and reliable reinsurance arrangements.”
“Tower Insurance in particular has demonstrated strength and resilience throughout the pandemic, and I am certain that it will continue to be innovative and responsive to the needs and expectations of consumers.”
DPM Prasad said the opening of this Branch signifies not only physical expansion but also progress and accessibility adding, “It is a stepping stone towards enhanced financial inclusion, credible support towards local businesses, and solid partnership in the growth and economic empowerment for this vibrant sector”.
“As a Coalition Government member, I will be particularly watchful about ensuring there is a level playing field for all insurance providers, where we will no longer have time for those who enjoyed a captive client-base.”
He further added that that the insurance sector also ensures that the everyday workers who buy their products, get exactly what they are promised.