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Indonesia Insurance Industry Prospects

by anonymous

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Indonesia: Insurance covers the sector overview, sector size and value in terms of industry participants, total assets and investments, and sector performance in terms of gross premiums and claims, non-life and reinsurance net premium, retention rate, penetration and density. It also covers the market trends and outlook, regulatory developments, sharia market, foreign ownership and market outlook, plus the profile, comparative matrix and SWOT analysis of the industry leading player: PT Panin Insurance Tbk (PNIN), PT Asuransi Bina Dana Arth Tbk (ABDA), and PT Asuransi Multi Artha Guna Tbk (AMAG).


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

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

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