Insurance company celebrates ninth anniversary at Kux and pledges to continue its commitment

A regional insurance company is celebrating its ninth anniversary in the Cook Islands, highlighting its commitment to the local community and its achievements in providing insurance services.

Federal Pacific Insurance Company (FedPac) recently celebrated its ninth anniversary in the Cook Islands with a celebratory cocktail reception at the Muri Beach Club Hotel.

The event on Wednesday night was held to thank clients and customers for their continued support over the years.

The event was attended by FedPac clients, government officials and members of the Cook Islands business community.

Minister of Foreign Affairs, Marine Resources and Parliamentary Services, Tingika Elikana, commended the FedPac team for achieving this milestone and stressed the importance of maintaining high quality services.

“Claims settlement speaks volumes about the quality of service of any insurance company and it must be your company’s top priority,” Elikana said.

He encouraged FedPac to continue to expand its presence in the Pacific Islands, adding: “It is a comforting thought to have one of our own island companies providing insurance services to our own Pacific Island people.”

Namulauulu Papalii Sami Leota, General Manager of Federal Pacific Insurance in Samoa, addressed the guests and noted that the event was a great opportunity to meet with clients and local partners.

“First and foremost, this is a great opportunity to thank our customers and partners for their support,” said Leota.

He reiterated FedPac’s long-term commitment to the Cook Islands and their dedication to supporting the local team, particularly with regard to technical underwriting needs.

Looking back over the past nine years, Leota said the company had made significant progress in understanding the insurance needs of the Cook Islands community.

They also work with governments and the private sector to address unique risks.

However, he acknowledged that there were challenges in obtaining reliable reinsurance treaties as many underwriters considered the Pacific region to be a high-risk area for natural disasters, especially hurricanes.

Despite this, FedPac has managed to secure support from major reinsurance underwriters including Lloyd’s of London and PWS East Asia.

“We have been working with Pacific Risk since its inception, so we want our customers to be reassured that the insurance products we offer have solid backing,” Leota said.

Various natural disasters, car accidents, theft, fire, etc. all test the company’s claims claims ability.

FedPac Cook Islands Country Manager Eleanor Rivera highlighted that these claims were processed and settled quickly thanks to the support of key reinsurance partners.

“We are very proud of Pacific Insurance’s ability to honor and pay bona fide claims in a timely manner,” Rivera said.

Leotta also reiterated the company’s initial commitment to the government to provide an alternative to the public.

“That’s exactly what we’re doing,” he said.

FedPac operates from the Federation Pacific Building in Rarotonga and has deep roots in the local community, supporting a wide range of sporting and educational initiatives.

In August 2023, FedPac worked with the Samoa office to sponsor the Cook Islands U16 Women’s oe vaka team to compete in the regional Waka Ama Championship in Apia, Samoa.

“Without the support of Cook Islands policyholders, we would not be here today and I thank you all for allowing us to meet your insurance needs. I am confident that we will have even better things to come,” Rivera said emotionally.

Leota praised the perseverance and hard work of Rivera and her team, who have navigated good and bad times with determination and commitment to the community.

“Like any business, Eleanor and her team have had their good days and bad days, but they have managed to get through them through sheer determination, hard work and a single-minded focus on serving the community,” Leota said.

He also thanked local director Diane William, FedPac business development manager Simon James and regional senior underwriter Riaan Wolmarans, both based in Auckland.

FedPac benefits from the strong reputation of its affiliates Western Union and Fexco in the Cook Islands business community.

Commonwealth Pacific Insurance commenced operations in Apia in 1999 and has since established offices in Tonga, Cook Islands, Timor-Leste, Fiji and Vanuatu, with supporting underwriting offices in New Zealand and London.

Leota thanked the Federal Pacific Group Board, in particular Chairman Papalii Alan Hutchison, for their support in continuing to pursue the vision of his late father and Group founder Alistair Hutchison.

He said that looking to the future, FedPac remained committed to providing reliable insurance services to the Cook Islands and the wider Pacific region, backed by strong community connections and international support.