Fijians can now buy shares in Sun Insurance through its first public offering of 7 million shares at $1.05 each, raising $7.35 million.

At the initial public offering launch, company Chairman Padam Raj Lala highlighted this as a major milestone in the company’s 25-year history, emphasizing their dedication to growth and service.

Padam Lala says that the offering mainly aims to provide support and opportunities to the grassroots people.

“Sun Insurance’s success has been from the moms and dads, from the ground-level people. And we now believe that we should give them the opportunity to be part of Sun Insurance. They have supported us; business-wise, they have given us policies, but now it is up to Sun Insurance to give something back to them, and that is the whole intention of doing it.”

Lala adds that in order to make this launch successful, it took the company more than 2 years to make it possible.

“It’s a long journey by the time we make a decision to go public or to become public. It depends on a number of factors, but for Sun Insurance, it has taken us almost 18 months. There were some shortcomings from us; there were further requirements from regulators, but I must say that we had good cooperation from them, and we are fully compliant.”

The Principal Officer of Sun Insurance, Tarlochan Singh, says that he is delighted that he is part of the IPO that is going to be public.

“So as a Fijian, I’m very proud that I’m part of this company that’s going public. And it’s also giving me an opportunity, as a normal Fijian, to be part of the company. So the feeling is one of happiness. And of course, it gives us great joy to take this to the ordinary Fijians.”

Singh adds that their decision to go public is rooted in the belief that every Fijians will now have an opportunity to share their success with Sun Insurance.