Life Insurance Corporation of India is celebrating its 68th anniversary with a significant achievement, surpassing $1 billion in total assets.

LICI General Manager Pradeep Shenoy announced this milestone during a press conference this morning, highlighting the company’s innovative plans for future growth.

Shenoy says the increase in migration has also impacted insurance companies in Fiji.

“Many times, what happens is when a person leaves Fiji, he takes policy away from us. He is hesitant to continue the policy sitting in, say, New Zealand or sitting in Australia. He feels he may not be able to pay the premium sitting there.”

Shernoy believes that increasing their reach is going to increase the size of the market.

According to LICI Finance and Investment Manager Vivek Prakash, the company’s social responsibilities to the environment and community are a component of the 68th anniversary celebration.

The company’s leadership remains optimistic about future prospects, reaffirming LICI’s commitment to innovation and long-term growth.