Samoan Insurance Company to operate in Timor-Leste

Governor hails expansion by Samoa companies

31 December 2016

The Governor of the Central Bank, Maiava Atalina Ainu’u-Enari, has praised the overseas expansion of two Samoan-backed companies in Timor Leste.

The Governor of the Central Bank, Maiava Atalina Ainu’u-Enari, has praised the overseas expansion of two Samoan-backed companies in Timor Leste.

Speaking at the celebrations to mark the 15th anniversary of Pacific Holdings (Timor) operating the Western Union in Timor Leste and the official launch of a new General Insurance venture, Maiava said it was an “encouraging sign” for Samoa.

“That a Samoan-backed Company can foster partnership with Timor Leste, and help another Pacific neighbour rise to its potential is something that I am proud of,” she said.

“Pacific Holdings is this month celebrating 15 years. The company commenced service in 2001 with a single agent in Dili… that agency has grown into five locations in the capital and Districts.

 “The possibilities for Federal Insurance Timor to contribute to developing the financial services sector in Timor Leste was important,” she said.

 “The benefits are numerous as we have seen in Samoa in the last few years where recovery and rehabilitation following a tsunami and cyclones have been possible due to proper risk management measures taken by businesses or individuals before the event – in other words, when disaster struck, many people were able to get back to business and back to normal life because they were adequately insured.”

Maiava was in Timor Leste for the annual Pacific Island Reserve Bank Governors Conference.