Boston, MA -- (ReleaseWire) -- 05/28/2014 -- The life insurance segment in Indonesia accounted for 76.3%, of the total gross written premiums in 2013, after posting a CAGR of 21.9% during the review period. The growth was mainly generated from the strong performance of individual life products such unit-linked and endowment insurance. It was further encouraged by robust economic development and improved stock market performance following the decline from the global financial crisis in 2009. Indonesia's GDP at constant prices grew at a CAGR of 6.2% during the review period, and these factors are expected to support the life segment over the forecast period; it is expected to grow in terms of written premium at a forecast-period CAGR of 15.8%.
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- The Indonesian life segment's gross written premium grew at a review-period CAGR of 29.1%.
- The number of polices sold through linked business increased from 2.4 million in 2009 to 4.4 million in 2013, at a CAGR of 15.9% during the review period.
- Demand in the life segment is expected to continue over the forecast period, as increased awareness levels, product innovation and relatively high returns on investment are expected to further increase sales of unit-linked, pension, endowment and other life insurance products.
- In 2013, agencies generated 48.6% of the gross written premium from new business in the life segment.
- The Indonesian life segment is highly concentrated among 10 large companies, which accounted for 87.9% of the segment in terms of total gross written premium in 2012.
This report provides a comprehensive analysis of the life insurance segment in Indonesia:
- It provides historical values for the Indonesian life insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
- It offers a detailed analysis of the key categories in the Indonesian life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Indonesia.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Indonesia for the life insurance business.
- It provides a detailed analysis of the reinsurance segment in Indonesia and its growth prospects.
- It profiles the top life insurance companies in Indonesia and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in depth historic and forecast market data related to the Indonesian life insurance segment and each category within it
Companies Mentioned in this Report: PT Asuransi Allianz Life Indonesia Plc., PT. Asuransi Sinar Mas, PT Prudential Life Assurance, PT Asuransi Jiwa Manulife Indonesia, PT Indolife Pensiontama, Asuransi Jiwa Bersama Bumiputera, PT Asuransi Jiwasraya (Persero), PT Axa Mandiri Financial Services, PT AIA Financial Indonesia (PT AIA), PT Asuransi Jiwa Mega Life
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