Insights from PNG insurance company CEO, Mike Sherwood
Insights from PNG insurance company CEO, Mike Sherwood
Born in PNG, Mike Sherwood reflects on his insurance career in Papua New Guinea.
Michael Sherwood's 30-year insurance career includes more than 13-years of experience in the Papua New Guinea insurance market.
Recently, Michael Sherwood took up the role of CEO with the newly formed Niugini Assurance Group Ltd, which provides personal and commercial insurance covers in Papua New Guinea.
Looking back to Mike's childhood, it is not surprising that he found himself in the insurance industry in Papua New Guinea.
Mike was born in Papua New Guinea and lived in Madang and Port Moresby until the age of seven. He attended Coronation Primary School until he relocated and completed his schooling at Wesley College in Perth, Western Australia.
Returning to Papua New Guinea, Mike worked in technical underwriting at NZI. Then, as part of a company acquisition, he joined QBE Insurance.
Mike's leadership roles at QBE included those of Operations Manager, CEO, and a Director of QBE Papua New Guinea. He was also President-Director of QBE Indonesia, then General Manager for Product & Underwriting at QBE Asia-Pacific, based in Singapore.
In January 2020, Mike Sherwood took up the role of Chief Executive Officer at Niugini Assurance Group Limited.
Over the years, Michael Sherwood has actively supported the insurance industry in Papua New Guinea. For example, Mike was President of the PNG Insurance Council. He also contributed to the education arms of the PNG insurance industry as president of the PNG Insurance Institute.
Talking about his deep connection to Papua New Guinea and his recent appointment as the CEO of Niugini Assurance Group, Mike said:
"Insurance is about identifying risk, and measuring and managing the associated exposures.
An effective insurance provider needs a sound understanding of people and place, as well as insurance. The company also needs a framework for effective distribution of its underwriting solutions. At Niugini Assurance, we understand the unique Papua New Guinea exposure landscape."
"My earliest years of childhood were in Papua New Guinea and then 15 years of my insurance career were also in PNG. That deep connection to Papua New Guinea is the same for each of the directors of the Niugini Assurance Group. Each director has many decades of business experience invested in PNG, and we each feel a strong commitment to the future of this country."
"At Niugini Assurance, our team believes in the positive future of Papua New Guinea. We're here for the long term."
Find out more about the insurance team at Niugini Assurance