Kwila Insurance Corporation Ltd (Kwila) was incorporated on 8th September 1977. In 1979, Kwila purchased the PNG business of Grand Union Life - a Hong Kong owned company that had operated in Lae Province. Since then, the company has been growing for the past 30 years and her Paid Up Share Capital has increased to PGK4,000.000.00 currently.

Kwila from its inception has been wholly nationally owned, directed and largely nationally staffed. It has been the company policy to continually strive to employ, develop and promote the interests of national employees whenever possible.

The company is currently specializing in investment life insurance, as well as savings and loans facilities. Kwila’s own investments include residential and commercial properties acquired for leasing, and share trading. It’s total asset value is approaching PGK 100 million.

Kwila lends funds to policy holders at a very low interest rate of 15% per annum. This competes extremely well with most of the newer finance companies in PNG who charge interest at hugely inflated rates that cripple borrowers.

Kwila’s savings interest is credited with between 5 and 7% interest per annum on deposits or premiums paid in advance.

Since 1 January 1995 Kwila has cautiously developed its business so that firm foundations are laid and, on which it is progressing in Port Moresby and Lae. New offices have been opened in Kokopo and Alotau in the past 24 months , while offices upgrades have been completed in Goroka and Lae.

A new office in Madang, Wewak or Vanimo is being investigated for later in 2007, as well as a sub office in Kimbe for 2008.

The company is one of few able to operate without any financial loan assistance from outside institutions. Kwila operates free of third party debt – and owns Ori Lavi Haus in Boroko, from where its head office operates.

Add to this that Kwila is now looking at offering packages for seniors 45 years or older, new medical/life combined schemes, as well as Group Term life insurance and you can see that the future for Kwila knows no bounds.