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Indonesia Insurance Industry 2H12

  • February 2013
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 29 pages

Next to India and China, Indonesia represents one of the largest potential insurance markets in Asia. According to the Indonesian credit rating agency PEFINDO, life insurance coverage in Indonesia is still low at around 15% of the country’s population. Indonesia has seen steady growth in insurance premiums given the low penetration rate for insurance services, at merely 2% of GDP in 2011 as compared to over 4% in neighboring countries such as Singapore, Malaysia and Thailand. This has attracted many foreign investors to participate in the domestic insurance industry.

Indonesia’s solid economy is also fuelling growth for a developing insurance market, supported by rising domestic consumption, expanding government infrastructure spending and strengthening regulatory requirements. In line with these positive conditions, the life and non-life insurance sectors have seen steady growth in total assets and gross premiums over the years. Life insurance dominates the industry’s market share, accounting for 60% of total gross premiums in 2010.

As the country with the largest Muslim population in the world, Indonesia has a vast untapped sharia market. Fitch Ratings reported that gross premium of sharia insurance was less than 5% of total insurance market premiums in 2011. Industry analysts believe that the national sharia market will benefit from further growth due to the less established market and improved regulatory environment.

Table Of Contents

Indonesia Insurance Industry 2H12
Table of Contents

1. Industry Profile

1.1 Sector Overview
1.2 Sector Size and Value
1.2.1 Industry Participants
1.2.2 Total Assets and Investments
1.3 Sector Performance
1.3.1 Gross Premiums and Claims
1.3.2 Non-Life and Reinsurance Net Premium
1.3.3 Retention Rate
1.3.4 Penetration and Density

2. Market Trends and Outlook

2.1 Regulatory Developments
2.2 Sharia Market
2.3 Foreign Ownership
2.3 Market Outlook

3. Leading Players and Comparative Matrix

3.1 Leading Players
3.1.1 PT Panin Insurance Tbk (PNIN)
3.1.2 PT Asuransi Bina Dana Arta Tbk (ABDA)
3.1.3 PT Asuransi Multi Artha Guna Tbk (AMAG)
3.2 Comparative Matrix
3.3 SWOT Analysis

4. Tables and Charts

Table 1: MandA Deals in Indonesia, 2011-2012
Table 2: Panin Insurance (PNIN)'s Financial Highlights, 2009-Sep 2012
Table 3: Asuransi Bina Dana Arta (ABDA)'s Financial Highlights, 2009-Sep 2012
Table 4: Asuransi Multi Artha Guna (AMAG)'s Financial Highlights, 2009-Sep 2012
Table 5: Key Financial Ratios Comparison of the Leading Players

Chart 1: Life Insurance - No. of Insured People, 2001-2010
Chart 2: Indonesia GDP Annual Growth Rate, 2004-2013F
Chart 3: Number of Insurance Companies by Segments, 2004-2011
Chart 4: Insurance Industry Participants in 2011
Chart 5: Insurance Industry Supporting Business in 2011
Chart 6: Total Assets of Insurance Industry Participants, 2005-2010
Chart 7: Total Assets Growth Rate, 2006-2010
Chart 8: Total Investments of Insurance Industry Participants, 2006-2010
Chart 9: Total Investment Growth Rate, 2006-2010
Chart 10: Growth of Total Assets vs. Total Investments, 2006-2010
Chart 11: Insurance Industry Investment Portfolio
Chart 12: Gross Premiums of Insurance Industry Participants, 2006-2010
Chart 13: Gross Premiums Growth Rate, 2006-201
Chart 14: Total Life and Non-Life Insurance Gross Premiums, 2009-H1/2012
Chart 15: Gross Claims of Insurance Industry Participants, 2006-2010
Chart 16: Gross Claims Growth Rate, 2006-2010
Chart 17: Growth of Gross Claims vs. Gross Premiums, 2006-2010
Chart 18: Non-Life and Reinsurance Net Premium, 2006-2010
Chart 19: Insurance Industry Retention Ratio, 2001-2011
Chart 20: Insurance Industry Penetration and Density, 2005-2011
Chart 21: PNIN's Gross Premiums and Claims, 2006-2010
Chart 22: ABDA's Earnings Per Share Growth, 2007-2011
Chart 23: AMAG's Profit Margin Growth, Dec 2011-Sep 2012

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