Bank of Papua New Guinea - Life Insurance

"The Bank of Papua New Guinea is a contemporary central bank and regulator employing best practice in development of monetary policy, financial sector supervision and payments system. "

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Statistics Update for Fortnight ending 20 November 2009
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Life Insurance

Introduction

The legislation governing the life insurance business is the Life Insurance Act 2000. Life insurance business is the business of;

a.	Issuing life policies
b.	Undertaking liability under life policies, and
c.	Any business that relates to business referred to in Paragraphs (a) and (b).

List of Licensed Life Insurance Companies 13.88 Kb
Life Insurance Act 2000 176.14 Kb
Life Insurance (Amendment) Act 2004 378.79 Kb
Life Insurance (Amendment) Act 2002 77.63 Kb

Prudential Standards

PS 2/2008 Valuation of Policy Liabilities for Life Insurance Companies 69.42 Kb
PS 5/2008 External Audits 54.48 Kb
PS 6/2008 Financial Statements Format & Disclosure Requirements 78.54 Kb
PS 7/2008 Life Insurance Companies Investments 107.03 Kb
PS 8/2008 Fit and Proper Requirements 177.38 Kb
PS 1/2005 Financial Requirements 57.27 Kb
PS 3/2005 Solvency Standard 94.97 Kb
PS 4/2005 Capital Adequacy Standard 97.65 Kb

Licensing Applications

Application-Authorised Life Insurance Company 81.23 Kb
Life insurance broker application 74.37 Kb

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