Indonesia Insurance Report - Business Monitor International - Industry Reports

Indonesia Insurance Report

Indonesia Insurance Report - Business Monitor International - Industry Reports
Indonesia Insurance Report
Published Sep 10, 2016
59 pages — Published Sep 10, 2016
Price US$ 1,295.00  |  Buy this Report Now

About This Report

  
Abstract:

Indonesia offers a large potential consumer market for the life insurance industry, with a total population numbering some ---mn people, making it one of most populated countries in the world. It is estimated, however, that around half of the population lives around or below the poverty line, with extremely limited household income. ...It is estimated, however, that around half of the population lives around or below the poverty line, with extremely limited household income. This substantially reduces capacity for spending on traditional life insurance products, though we do note that insurers are increasing penetration of life insurance via the use of micro-insurance products targeting low income households. The high level of poverty in the country means, however, that life insurance density will remain relatively low. ...The AEC aims to create a single market in the South East Asian region with a free flow of goods, services, investments, capital and skilled labour. We believe the liberalisation of the banking and financial services sectors of the various member countries will happen gradually over the coming years, creating a more attractive investment environment and supporting the long-term growth of the life insurance industry.

...We remain of the view that the Indonesian life segment has huge potential over the longer term, if only because three quarters of the population lack cover, because the number of in-force policies continues to rise and because most of the leading life insurance companies are the local subsidiaries of massive international groups, bringing capital and expertise to the markets. At present we expect life insurance premiums to grow by --.- annually between ---- and ----, when measured in local currency terms, reaching IDR---,---bn (USD--.-bn) ...Indonesia does not just have a large population, but it also has a young workforce. The average age in the country stands at -- and about -- of the population is in the ----- age group, which is a key target demographic for life insurers due to the fact that people in this age group are in their peak earning years. While the population is young overall, Indonesia also has a large over -- population, numbering --.-mn, or around -.- of the total population. This is also a large key population group for insurers as this group is likely to be the main source of life claims. Increasing life expectancy means that the over -- group is

...Forecast to account for -- of total written premiums in ----, life insurance constitutes the larger segment of Indonesia s insurance sector. Over the next five years, the life market should expand by roughly -- annually on average - reaching USD--.-bn in ----. ...

  
Source:
Document ID
1750-5682
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "Indonesia Insurance Report" Sep 10, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Indonesia-Insurance-Report-2026-81>
  
APA:
Business Monitor International - Industry Reports. (2016). Indonesia Insurance Report Sep 10, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Indonesia-Insurance-Report-2026-81>
  
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