Media Release No. : 01/2026
Date: 17 Arpril 2026
Media Release No. 1 – Leaving No One Behind: Strengthening Climate Protection for Social Welfare Beneficiaries
National Coordinator Social Protection Reforms Ms Rozia Bi, Acting Permanent Secretary for Women, Children and Social Protection, Ms Selina Kuruleca with Governor Ariff Ali and Chief Manager Financial System Development Ms Caroline Waqabaca during the signing
To continue efforts to strengthen financial resilience for Fiji’s most vulnerable households, the Reserve Bank of Fiji (RBF) and the Ministry of Women, Children and Social Protection (MWCSP) signed a Supplementary Grant Agreement under the InsuResilience Solutions Fund (ISF) Project on 16 April 2026 formalising premium subsidy arrangements to expand access to parametric microinsurance for social protection beneficiaries.
The Supplementary Agreement reinforces a shared commitment between the RBF and the Ministry to ensuring climate risk protection reaches households most exposed to the impacts of climate change and natural disasters. Through this collaboration and in partnership with local insurers Sun Insurance and Tower Insurance, social welfare beneficiaries will have access to parametric microinsurance that provides timely and predictable financial support when predefined climate‑related shocks occur.
Under the Agreement, the RBF has subsidised 50 percent of insurance premiums to enable 2,075 selected social welfare beneficiaries to access SUN Insurance’s parametric microinsurance product for the insurance period December 2025 to November 2026. In addition, a 50 percent premium subsidy has been provided for 2,129 beneficiaries under Tower Insurance’s Rainfall Response Cover for the period August 2025 to July 2026.
Recognising the heightened vulnerability of persons with disabilities the RBF has also extended a 50 percent premium subsidy for an additional 1,000 persons with disabilities registered under the Ministry to access Tower Insurance’s Rainfall Response Cover. In total, the RBF has made premium subsidies amounting to $178,000.00 matching the contribution available under the ISF Project and resulting in 5,204 social welfare beneficiaries being fully subsidised for the 2025–2026 insurance period.
Speaking at the signing, RBF Governor Mr Ariff Ali emphasised the importance of strengthening climate risk financing through partnerships that prioritise vulnerable populations.”This supplementary agreement reflects our commitment to ensuring that climate risk protection is inclusive and responsive. By extending premium subsidies to social welfare beneficiaries, we are reinforcing Fiji’s social protection systems while enabling households to better cope with climate related shocks.” Governor Ali said.
The Agreement also supports collaboration between the RBF and the Ministry on a research study being undertaken by a group of international researchers, on shock‑responsive social protection in Fiji. The study will contribute to evidence‑based policymaking and strengthen the integration of insurance mechanisms within national social protection frameworks.
Acting Permanent Secretary for Women, Children and Social Protection Ms Selina Kuruleca, welcomed the continued partnership noting the growing importance of innovative insurance solutions in safeguarding vulnerable families. “This initiative aligns with the National Adaptive Social Protection Strategy 2024-2029, which explicitly promotes shock‑responsive financing mechanisms to enhance resilience. We thank the Reserve Bank of Fiji, SUN Insurance, and Tower Insurance for their enabling and funding roles in supporting our most vulnerable communities.” Ms Kuruleca said.
The RBF also acknowledged the continued technical and financial support of the Frankfurt School of Finance & Management, through the InsuResilience Solutions Fund and the United Nations Capital and Development Fund, as well as the commitment of SUN Insurance Company Ltd and Tower Insurance in delivering parametric insurance solutions that respond to the needs of climate‑vulnerable communities across Fiji.
For any further information, please contact: –
Mr Lepani Uluinaviti | Manager Project InsuResilience Solutions Fund
lepani@rbf.gov.fj
(679) 322 3217 | 8697820