Insurance

PNG Insurance 2012
PNG’s insurance sector is seeing strong growth from a low base, with general insurance assets rising from PGK700m ($333m) in 2006 to PGK1.2bn ($571m) in 2009. Given the relative newness of insurance products to the country’s populace, non-life premiums outweigh life. High-volume subsectors include property, motor and civil construction insurance, but most of the major projects that fuel PNG’s economy are too big to be covered by local insurers. The industry is looking at motor and life insurance as growth areas, but penetrating the rural, unbanked majority of the country’s population will be difficult.
Share

Articles from this chapter

Cover of The Report: Papua New Guinea 2012

The Report

This chapter is from the Papua New Guinea 2012 report. Explore other chapters from this report.

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart