IndonesiaAnalysisoftheGeneralInsuranceIndustry.pdfVIP

Brochure More information from /reports/1958126/ Indonesia: Analysis of the General Insurance Industry Description: The general insurance industry in Indonesia witnessed healthy growth in gross premiums at the end of 2010 on account of improving macro-economic conditions and increasing public awareness of insurance benefits. Motor insurance formed the largest segment and its net premiums increased due to significant growth in motor vehicle sales and introduction of new policies. Property Insurance formed the second largest segment. Sharia insurance also experienced positive growth in 2010 due to the implementation of strategic policies and supervision quality improvement by Bapepam-LK. As of May 2011, there were 87 non-life insurance companies in Indonesia. Some of these are composite companies that also offer life insurance products. The non-life insurance industry is highly fragmented with a number of market players. Astra Buana is the largest motor insurance provider whereas Sinar Mas is the market leader in property insurance. Companies such as Cigna Indonesia, AIA Indonesia and Allianz Indonesia are focusing on direct marketing strategies like telemarketing and online insurance to attract customers. The present report gives an overview of the Indonesia general (non-life) insurance market along with the analysis of Indonesia’s economic growth. The report provides an insight into the market size and growth in non-life insurance premiums. Each segment of non-life insurance industry along with key statistics and ratios are discussed in detail. The competitive aspect of the market is also highlighted and the key players are