Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
While limited in size and reach, the insurance market in Papua New Guinea recorded double-digit growth in the five years to 2013. Driven by the non-life corporate segment, growth has attracted a number of new players. Although the market appears crowded for its size, underwriters have maintained profitability on the back of low loss ratios in...
With 94% of non-life (non-compulsory third-party motor cover) premiums stemming from corporates and the lion’s share of life coming from group policies, the scope for expanding insurance penetration in the market is vast. Yet with GDP per capita of $2200 in 2013, according to Standard & Poor’s, scaling products down will be key to driving...
Although the Port Moresby Stock Exchange (POMSoX) witnessed two new initial public offerings (IPOs) in 2013, the market of 20 stocks, 13 of which are dual listed offshore and one of which is inactive, remains dominated by 12 listed firms in the mining and oil and gas sectors. Financial services, retail, aviation and agroindustry are also...
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