Reserve Bank of Fiji has granted a licence to Howden Insurance Brokers (Fiji) Pte Limited, bringing the number of licensed brokers in the country to six.
Move comes after Hong Kong introduced its streamlined re-domiciliation regime in June, giving overseas insurers a smoother route to shift their legal base onshore.
Strengthened internal controls and clearer progress on long-standing audit issues feature in the agency's more optimistic view, while investment income continues to support earnings.
Despite the phased liberalisation of motor and fire pricing, AM Best notes that Lonpac’s robust capitalisation and stable performance continue to underpin its ratings.
