Insurer Builds New Complex

Feb. 1, 2018, 12:39 p.m.

SUN Insurance has announced the commencement of a $15 million building in Legalega, Nadi.

Known as the SUN Centre, the 5-level executive office complex will be a long-term investment for the country’s only locally owned insurer.

“Due to its local ownership SUN is mandated by the Reserve Bank of Fiji to maintain all its investment in Fiji.”

Designed by architects and engineering firm, Larsen Holtom Maybin (LHM), the complex will sit just 800 metres away from Nadi International Airport and employ over 200 people during its construction phase.

The insurance house said the building’s structure would be built by the family-owned Kanta Builders Limited, with managing director, Pardeep Singh saying they were thrilled to be part of the project and anticipated being part of a quality team gathered by SUN to deliver the complex.

“True to SUN’s philosophy of promoting local businesses to reach new heights, the project will be KBL’s first multi-level project,” SUN Insurance noted.

LHM project architect, Mark Swamy said the building would be a much sought-for office accommodation in Nadi, incorporating innovative technology and emphasizing energy efficiencies, the safety of occupants, quality material, and workmanship.

“A large group of specialized & reputable consultants were engaged to ensure that every design element was adequately addressed,” he said.

The projects consultants and contractors include CLC Consulting Group Limited, Shri Singh & Associates, Piling Design, Hamen Lodhia Engineers, Traffic Design Group, OnFire Consulting, Noise & Sound Consultants, Quantity Surveyors BAQs, TriTech Engineers Limited and Kanta Builders amongst others.

Headquartered in Suva, the commercial and personal lines insurance company was renamed SUN Insurance from NMBF Insurance (Fiji) Limited in 1999.

“With a mere premium turnover of $650,000 in 1999, Sun has grown to be a large player in the Fiji market with just under 20% of the Fiji General Insurance market with a turnover in excess of $19million in 2008. Current client base is in excess of 80,000 policyholders.

Chaired by Padam Raj Lal, the company is wholly locally owned, and notes that all profits are retained within the local economy.

“Since its inception, SUN Insurance has invested around $40million in the Fiji economy. Further, SUN is the only company in Fiji with 100% local staff content.”