INSURANCE service provider Life Insurance Corporation of India (LICI) Fiji has for the first time surpassed the $100 million mark in its overall investment.
In 2025 alone, LICI Fiji has invested $130 million, a record high ever reported for the company.
LICI Fiji manager Finance and Investment Vivek Prakash said out of that, more than $70m were fresh investments, and the others accounted for redemption from previous investments.
“This is one of the highest investments we have done over the period of years, $130 million. We have never crossed 100 million in any years,” Mr Prakash said at a press briefing in Suva on Wednesday.
“So this year, because of the operational efficiency, cost effectiveness and other factors, because there are all other contributing factors also, we have a good experience, we had a good year in terms of business.”
Mr Prakash said they were hopeful to be closing this financial year with growth of around 20 per cent in new business.
“LICI has invested $130m this year alone, of which $126m was put in Fiji infrastructure bonds (FIBs) as a partner in the development of Fijian economy, and $4m we have invested in FDB bonds.
“This is what we have invested this year, and our plans will be to beat this milestone in the next year.
“This is the largest investment the company has ever made in a single year.”
Mr Prakash added that 95 per cent of the surplus were allocated back to policyholders and five per cent for shareholders.
In 2024, LICI had announced a bonus of $26m.
“LICI has a consistent history of bonus declarations, which indicates its strong financial performance, prudent investment strategies and sound management.”
The company has about 61,000 policy holders actively paying premiums.
