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  4. > Indonesia Insurance Report Q3 2016

Indonesia Insurance Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 59 pages

Includes 3 FREE quarterly updates

BMI View: Indonesia's insurance market offers substantial growth potential. The country is home to alarge population and the currently low rates of penetration and density mean there is scope for both life andnon-life insurance to develop rapidly from a low base. We expect premiums to grow rapidly over theforecast period, particularly in terms of basic motor and property lines, making Indonesia an attractivemarket for potential investors. There are, however, some regulatory barriers to development, while lowaverage 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 isreportedly keen to see insurers which have a significant share of foreign ownership go public. Theindustry also awaits clarification on the expected cap on foreign ownership.

- Rates of penetration and density, although currently low, continue to improve in Indonesia's lifeinsurance sector, supported by steady premium growth. In US dollar terms we expect premiums to growby an average of 11.7% annually between 2016 and 2020, reaching USD14.7bn by the end of the forecastperiod.

- Slightly stronger growth will be seen in the smaller non-life insurance sector, where premiums areforecast to reach USD6.3bn in 2020, up from USD3.9bn in 2016. Growth will be led by the dominantmotor and property insurance lines, which together account for over half of premiums written.

Table Of Contents

Indonesia Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Indonesia 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Indonesia 2013-2020) 12
Table: Life Insurance Claims (Indonesia 2008-2014) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Indonesia 2013-2020) 16
Table: Non-Life Insurance Claims (Indonesia 2009-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Indonesia 2013-2020) 26
Insurance Risk/Reward Index 28
Asia Pacific Industry Risk/Reward Index 28
Table: Asia Pacific Insurance Risk/Reward Index Q316 29
Market Overview 30
Life Market Overview 30
The Product Offering 30
The Competitive Landscape 30
Table: Life Insurance Premiums (USDmn), 2008-2013 33
Non-Life Market Overview 35
The Product Offering 35
The Competitive Landscape 36
Table: Non-Life Insurance Premiums (USDmn), 2008-2014 37
Company Profile 39
AIA Group 39
Allianz 42
AXA 45
Manulife Financial 48
Prudential plc 50
Methodology 53
Industry Forecast Methodology 53
Risk/Reward Index Methodology 56
Table: Indicators 58
Table: Weighting of Indicators 59

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