THE COMPANY: City Pharmacy Limited (CPL) Group is a leading retailer in PNG and has a combined retail operation of 64 stores nationwide. It employs 3700 people, of which 97% are Papua New Guinean citizens. CPL’s retail network spans health and beauty chains, supermarkets, hardware stores, coffee...
THE COMPANY: Credit Corporation (CCP) commenced business in 1978 as a general finance company. CCP specialises in providing a range of financial products, including chattel mortgage, lease finance, variable rate contracts and insurance premium funding, and it also offers attractive investment...
THE COMPANY: Established in 1985, Kina Securities (Kina) is a diversified financial services provider offering financial solutions including savings accounts, small business loans, investments, mortgages, stockbroking and financial advice, investment management and fund administration.
In Papua New Guinea insurance makes up a small part of the overall economy when compared to international levels. The penetration rate as a percentage of GDP is under 2%, while the global average is 7.5%, according to the UN Development Programme. Insurance in the country is also a sector of great opportunity. Access is straightforward given...
To what extent have repetitive fires been affecting the growth of the insurance industry and how they should be contained?
As one of the least insured countries in the world, with insurance penetration as a percentage of GDP under 2%, Papua New Guinea has made micro-insurance a priority in order to help increase the uptake of policies. The public sector, insurers, donors and other parties have been working together to come up with solutions that could help to get...
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