About Inspac PNG

Inspac (PNG) Limited is a wholly owned Papua New Guinea company incorporated in July 2005.

Board Our Team

Share Holding

Inspac’s shareholders including a number of land owner groups and individuals and resource owners wanted to establish a wholly owned local insurance company to provide Papua New Guineans their own company and a reasonable return to the shareholders.

The shareholders were determined that Inspac would be well capitalised and as such their investment exceeds the minimum requirements of the Insurance Act. This large investment serves to enhance the capital base and ensures an adequate level of solvency in the formative stages of the company’s development and provides a good foundation to build appropriate levels of security for the underwriting business in the long term.

Reinsurance

Inspac use internationally reputable reinsurance brokers who arrange solid reinsurance treaties and other facilities with “A” rated Lloyds syndicates and other international reinsurers, and PNG’s own Pacific Re When a client insures with Inspac they can be assured that their insurance policies are backed by world class security.

Moden Insurance Management System

Inspac’s underwriting system and processes have been designed around what has been tried and tested with the major insurance companies in PNG over the past 30 Years.

At the center of this is a major investment in modern computerized insurance management software that provides a comprehensive underwriting and claims management system. The software is being modified to cater for PNG regulatory requirements and at the same time provides Inspac’s management and Board real time reports of international standards.

Our Values

External Auditors

Deloitte Touche Tohmatsu