INSURANCE is the corner stone of risk management and business security.
That’s according to the Chairman Trans Pacific Assurance Limited (TPAL) Michael Sullivan when speaking at the launch of the Papua New Guinea owned company in Solomon Islands at Heritage Park Hotel in Honiara last Monday.
The company’s launch followed its acquisition of Tower Insurance that same day.
“I would like to think that today is also an important day for SI.
“Insurance is the corner stone of risk management and business security,” he highlighted.
Mr Sullivan added that the change in ownership of one of Solomon Islands three main insurers (Tower Insurance) should be an important event for the country.
“In the wider geopolitical environment, today is also a realisation of several of the most important goals of the Melanesian Spearhead Alliance to which both PNG and SI belong – including the strengthening of trade and the fostering of closer economic and technical co-operation between member states,” he said.
Mr Sullivan said following TPAL’s acquisition of Tower Insurance, it became the third largest insurer in Solomon Islands.
He said this was an important day for TPAL and Solomon Islands as it was the company established itself in the country.
By LACHLAN EDDIE
Solomon Star, Honiara
