Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Oct 2022

Market Profile


Indonesia

Excellent first half for listed insurers

Indonesian listed insurers’ aggregate earnings growth of 43% in 1H2022 not only surpassed the 10% increase in GWP but was also a reversal of the 2% decrease in profits in the first quarter of 2022 and a 16.4% decline in full-year 2021 net income.
 

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At the forefront of InsurTech development in Southeast Asia

With a population that has truly embraced mobile technology, Indonesia has in recent times attracted the attention of many InsurTechs.
 


Slowdown in income from single premiums

The life insurance industry Indonesia is growing significantly in 2022. However, insurers are facing pressures on income as the industry experiences declines in premiums.
 

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Regulation to restore confidence

With digitalisation taking an upper hand in the industry, the non-banking arm of OJK has been balancing growth and consumer interests.
 

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Post pandemic promising performance

The Indonesian general insurance industry, after a rough patch in 2020, performed well in 2021.
 

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Premium growth tempered by reduced capacity

While the reinsurance market is slowly improving along with the economy, after suffering various impediments due to the pandemic, capacity is lacking.
 

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