The Samoa National Provident Fund (SNPF) received a SAT$400,000 settlement from Federal Pacific Insurance (FedPac) last Friday, following a fire that caused significant damage to an SNPF-owned building housing Frankie Supermarket.

The fire earlier this year resulted in substantial losses for both SNPF and Frankie Supermarket. The settlement marks a critical step in the recovery process for both parties.

During a presentation at FedPac's office, Namulauulu Papalii Sami Leota, General Manager of FedPac, handed over the cheque to Vanita Fanolua, SNPF Manager for Investments, on behalf of the Fund.

"We want to thank FedPac Insurance for its prompt service and professionalism in handling our claim," said Lemalu Selesitina Reti, SNPF CEO. "We are very happy with the outcome and support at this challenging time.”

With the settlement in hand, SNPF has commenced the repair process for the damaged building. Frankie Supermarket had already received its settlement for the damages to its stock and other materials, allowing the business to start its recovery efforts earlier.

Initially thought to be arson, the Samoa Fire and Emergency Services investigations revealed that it was an electrical fault. The fire happened at night when most of the offices were empty.

FedPac, renowned as Federal Pacific Insurance, boasts a local team with over 25 years of experience in the Samoan market. The company is known for its robust reinsurance and customized approach to meeting the insurance needs of its clients.

"Tailoring our services to meet the specific needs of our clients means when disaster strikes, they can confidently come to us knowing they have the right cover in place and we can work quickly to a resolution," said Namulauulu. "That is the point and value of insurance cover."

In addition to its operations in Samoa, FedPac also provides insurance services in Tonga, Vanuatu, the Cook Islands, and Timor Leste. The company's dedication to tailored service and quick resolution has made it a trusted partner for many businesses in the region.