Indonesian life insurance industry is slated to grow at a CAGR of 29.1% over 2013 to 2018

Press release September 5, 2014 Life insurance Indonesia Indonesia life insurance

Indonesia Health Industry Report

Some of the contributing factors leading to the growth of the Indonesia life insurance industry include a population which is both large and young, an emerging middle-class, an economy with low insurance infiltration with GDP growth of 6%.

This report: Trends and Opportunities in Indonesia Life Insurance Industry to 2018: Market Profile provides a detailed analysis of the market and focuses on the major players, recent developments and key drivers of the Indonesian life insurance industry.

Market overview

The Indonesian life sector’s gross written premium grew at CAGR of 29.1% in the review period. The number of policies sold increased steadily from 2.4 million in 2009 to 4.4 million in 2013. There is continuous demand in the life segment due to increased awareness levels, product innovation and high returns on investment. The sale of endowment, unit linked pension, and other life insurance products are expected to grow. In 2013 alone, agencies generated 48.6% of the gross written premium from new business in the life segment.

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Source: Research On Indonesia

Subjects

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Life insurance Indonesia Indonesia life insurance