New Study: Indonesia Insurance Report Q3 2016
Recently published research from Business Monitor International, "Indonesia Insurance Report Q3 2016", is now available at Fast Market Research
[ClickPress, Tue Jul 05 2016] Indonesia's insurance market offers substantial growth potential. The country is home to a large population and the currently low rates of penetration and density mean there is scope for both life and non-life insurance to develop rapidly from a low base. We expect premiums to grow rapidly over the forecast period, particularly in terms of basic motor and property lines, making Indonesia an attractive market for potential investors. There are, however, some regulatory barriers to development, while low average household income levels also remain a major hindrance.
Key Updates and Forecasts
Indonesia's Financial Services Authority (OJK) is promoting transparency in the insurance sector and is reportedly keen to see insurers which have a significant share of foreign ownership go public. The industry also awaits clarification on the expected cap on foreign ownership.
Rates of penetration and density, although currently low, continue to improve in Indonesia's life insurance sector, supported by steady premium growth. In US dollar terms we expect premiums to grow by an average of 11.7% annually between 2016 and 2020, reaching USD14.7bn by the end of the forecast period.
Full Report Details at
Slightly stronger growth will be seen in the smaller non-life insurance sector, where premiums are forecast to reach USD6.3bn in 2020, up from USD3.9bn in 2016. Growth will be led by the dominant motor and property insurance lines, which together account for over half of premiums written.
The Indonesia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Indonesia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Indonesian insurance industry.
Benchmark BMI's independent insurance industry forecasts for Indonesia to test other views - a key input for successful budgeting and strategic business planning in Indonesia's insurance market.
Target business opportunities and risks in Indonesia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
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