LIST OF INSURANCE COMPANIES IN PAPUA NEW GUINEA
Huli Wigmen from the Southern Highlands
Papua New Guinea, Oceania – World Insurance Companies Logos. By clicking the logo of each Insurance Company that operates in Papua New Guinea may access from a single place to its website, finding there, a wealth of knowledge of essential importance on all kinds of insurance matters, and also their phone numbers, addresses, and prices, find the best Insurance Companies in PNG.
PNG, Directory of Logos with Names of Insurance Companies
Papua, Oceania, Directory of Logos with Names of Insurance Companies. Find the best insurance Companies in PNG, based on cost, coverage, customer service and claims support. Find the best Insurance Companies in Papua New Guinea.
List of Names of Life Insurance Companies in Papua New Guinea
Names of Life Insurance Companies and Names of Life Insurance Brokers
Names of Life Insurance Companies
Life Insurance Corporation(PNG) Ltd
Pacific MMI Insurance Ltd
Capital Life Insurance Company Limited
Ashai Mutual Life Insurance Company
Names of Life Insurance Brokers
AON Risk Services Ltd
Asia Pacific Insurance Brokers
Marsh (PNG) Ltd
Kanda International Insurance Brokers & Risk Consultant
From Bank of PNG
Securities Commission of PNG
The Securities Commission (SCPNG) was established in March 1998. The SCPNG is vested with the regulatory and enforcement powers and functions under the Securities Act 1997, the Takeovers Code 1998 as well as certain provisions of the Companies Act 1997 which relate to prospectuses, the offering of shares to the public and other related matters.
In brief, the SCPNG’s primary function is to regulate the establishment of stock markets and practices in the country relating to the offering of shares to the public.
Investigation & Prosecution
Whilst administratively located within the Investment Promotion Authority (IPA), SCPNG is also responsible for carrying out the enforcement powers and functions of the IPA and the Registrar of Companies in investigating and prosecuting breaches of the appropriate legislations administer by the IPA.
Securities Market in General
The Securities Markets in the Country has grown from strength to strength from its humble beginning ten years ago in 1997. The total value of the Market listed on the Port Moresby Stock Exchange is at K23.8bilion. The market is growing daily because of the Political and economic stability in the last five years.
The Securities Commission only regulates Securities other than Government Bonds, Superannuation Services which are regulated by the Bank of PNG and Insurance Securities which are regulated by the Insurance Commissioner. SCPNG y POMSoX
The Securities Commission of PNG is the only body in PNG which gives approval to persons or corporate bodies to conduct business as a stock exchange as well as regulating their activities. It also has powers to prohibit trading, in particular, securities where it forms the opinion that it is necessary to do so to protect persons buying or selling securities or in the interest of the public.
It must be stated that the SCPNG does not have a proprietary interest in the Port Moresby Stock Exchange (POMSoX), nor does it have any role or connection with the administration and/or operation of POMSoX.
Pacific Balance Fund and Pacific Property Trust
Pacific Balance Fund & Pacific Property Trusts are two Unit Trusts that the Securities Commission regulates. Pacific Balance fund is the former Investment Corporation Fund (ICFPNG) is owned by Thirty Eight Thousand ordinary Papua New Guineans. Pacific Property Trusts is owned by Landowners from the Oil Fields in the Southern Highlands Province. Their combined value is in tens of million of kina.
Commission of Inquiry
One of the major tasks the Commission undertook was to assist the Commission of Inquiry into the Pacific Balance Fund after serious of breaches under the Securities Act and the Trust Deed governing the PBF & PPT by both the Trustee and Manager. The Report was tabled in Parliament by the Prime Minister, Honourable Sir Michael Somare on the 2nd May 2007.
The Commission is in the process of implementing the recommendations from the Reports. SCPNG and IOSCO
SCPNG was admitted as a member of the International Organisation of Securities Commissions (IOSCO) in 1997. IOSCO is a body constituted by securities commissions throughout the world. Its Head office is located in Madrid, Spain.
The Securities Commission pays annual membership fees with the IOSCO. The Commission derives benefits as in training, workshops, technical assistances in the areas of Financial Markets regulations, money laundering, human smuggling, terrorism and other cross-border illegal activities
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