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...
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Chapter | Capital Markets from The Report: Papua New Guinea 2012
With only 20 firms listed, the Port Moresby Stock Exchange (POMSoX) is subject to volatility, but market capitalisation is on an upward growth trend. Like the country’s formal economy, the bourse is dominated by mining and energy firms, along with related sectors like financial services and transport. PNG also has a thriving primary bond market, driven by commercial banks purchasing T-bills and C...
PNG’s banking sector is dominated by three major players: BSP, ANZ and Westpac. The challenges they face are familiar to emerging markets, including limited capital, riskier commercial loans and a largely unbanked population. The current issue is an excess of liquidity, as banks have accumulated plenty of cash through a build-up of foreign exchange reserves, yet are hesitant to lend it out. To...
Articles & Analysis | Worthwhile widening: Greater penetration and diversity are needed to keep profits up from The Report: Jordan 2012
With solid fundamental growth, companies in Jordan’s insurance sector are currently focusing on improving technical profits and boosting penetration rates. As the 28 insurance providers compete to increase market share, customers are also benefitting from low premiums and high quality provision of services.
Interviews & Viewpoints | OBG talks to Othman M Bdeir, Chairman, Jordan Insurance Federation from The Report: Jordan 2012
Articles & Analysis | Broader, bigger, better: The sector is looking to diversify its offerings from The Report: Jordan 2012
With increasing demand in a number of segments, the insurance sector has some positive momentum and favourable growth prospects over the medium term. Still, rising claims and costs have been squeezing profits. With 28 providers and no clear market leader competition is fierce in a smaller market of 6m people.