Indonesia Insurance Report Q3 2016

Date: June 29, 2016
Pages: 59
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Indonesia's insurance market offers substantial growth potential. The country is home to a large population and the currently low rates of penetration and density mean there is scope for both life and non-life insurance to develop rapidly from a low base. We expect premiums to grow rapidly over the forecast period, particularly in terms of basic motor and property lines, making Indonesia an attractive market for potential investors. There are, however, some regulatory barriers to development, while low average household income levels also remain a major hindrance.

Key Updates and Forecasts
  • Indonesia's Financial Services Authority (OJK) is promoting transparency in the insurance sector and is reportedly keen to see insurers which have a significant share of foreign ownership go public. The industry also awaits clarification on the expected cap on foreign ownership.
  • Rates of penetration and density, although currently low, continue to improve in Indonesia's life insurance sector, supported by steady premium growth. In US dollar terms we expect premiums to grow by an average of 11.7% annually between 2016 and 2020, reaching USD14.7bn by the end of the forecast period.
  • Slightly stronger growth will be seen in the smaller non-life insurance sector, where premiums are forecast to reach USD6.3bn in 2020, up from USD3.9bn in 2016. Growth will be led by the dominant motor and property insurance lines, which together account for over half of premiums written.
BMI Industry View
  Table: Headline Insurance Forecasts (Indonesia 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Indonesia 2013-2020)
  Table: Life Insurance Claims (Indonesia 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Indonesia 2013-2020)
  Table: Non-Life Insurance Claims (Indonesia 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Indonesia 2013-2020)
Insurance Risk/Reward Index
Asia Pacific Industry Risk/Reward Index
  Table: Asia Pacific Insurance Risk/Reward Index Q316
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Premiums (USDmn), 2008-2013
Non-Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Insurance Premiums (USDmn), 2008-2014
Company Profile
AIA Group
Manulife Financial
Prudential plc
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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