The loss figure covers property and motor hull lines of business, in line with the PERILS coverage definition for Australia and based on data collected from affected insurers.
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.
