“The groundwork laid during this project has since informed regional efforts to scale parametric and index-based insurance products across other vulnerable island economies.” — Russell Leith, Director, Insurance Finance and Risk, GG International
— Fiji —
resilience. innovation. inclusion.
Sowing Resilience: Advancing Agricultural Insurance in Fiji’s Emerging Risk Markets
“Insurance is not just a safety net—it’s a platform for development, resilience, and inclusive economic growth.”
— United Nations Development Programme, Pacific Risk Financing Initiative, 2014
Challenge
Despite Fiji’s vulnerability to extreme weather events and climate-related shocks, its domestic insurance market has historically struggled to expand into sectors critical to economic stability—most notably, agriculture. In 2014, the insurance penetration rate across the Pacific Islands remained among the lowest globally, with agricultural risk largely unaddressed by existing insurance products. Insurers cited the complexity of rural risk modelling, lack of actuarial data, and low short-term profitability as barriers to engagement. The absence of tailored insurance products left farmers and agribusinesses exposed, limiting their ability to recover from disaster and undermining national resilience goals.
Strategy
To address these systemic gaps, GG International, through its Director of Insurance, Finance, and Risk, Mr. Russell Leith, was commissioned under a UNDP-funded initiative from April to August 2014. Mr. Leith engaged deeply with Fiji’s insurance regulator and leading domestic insurers through a series of technical and policy interventions. The project’s core objective was to catalyze the development of agriculture-based insurance solutions tailored for Pacific Island contexts.
Activities included delivering a bespoke technical workshop for insurance company executives and underwriters focused on agricultural risk underwriting, reinsurance structures, and international case studies. The workshop served to upskill market actors and demystify agricultural insurance principles. Based on these consultations, Mr. Leith recommended the design of two prototype insurance products suitable for pilot implementation—targeting crop loss from cyclones and flood events. These products were aligned with international best practice and adapted to Fiji’s climatic realities.
Transformation
The project established a foundational shift in dialogue between Fiji’s insurance supervisor and the market, transforming the perception of agricultural insurance from a high-risk venture to a viable instrument for development. While insurers remained cautious about immediate uptake, the regulator committed to co-developing the two recommended products through a multi-stakeholder task force. This initiative catalyzed ongoing market development efforts supported by Pacific-wide development partners.
Mr. Leith’s engagement not only delivered technical uplift but fostered regulatory leadership and policy momentum, positioning Fiji as a regional thought leader on climate risk financing and inclusive insurance innovation.