Page 29 - AEC Digital Edition

ASEAN MARKET REPORTS

Indonesia

General information

Land Area 1,811,569 sq km.
Climate Tropical; hot, humid, more moderate in highlands.
Capital Jakarta.
Form of Government Republic.
Chief of State and Head of Government President Joko WIDODO.
Population (July 2015 est) 255,993,674.
Population Growth Rate (2015 est) 0.92%.
Ethnic Composition (2010 est) Javanese 40.1%, Sundanese 15.5%, Malay 3.7%, Batak 3.6%, Madurese 3%, Betawi 2.9%,
Minangkabau 2.7%, Buginese 2.7%, Bantenese 2%, Banjarese 1.7%, Balinese 1.7%, Acehnese 1.4%, Dayak 1.4%, Sasak 1.3%,
Chinese 1.2%, other 15%.
Religious Affiliation (2010 est) Muslim 87.2%, Christian 7%, Roman Catholic 2.9%, Hindu 1.7%, other 0.9% (includes
Buddhist and Confucian), unspecified 0.4%.
Birth Rate (2015 est) per 1,000 population 16.72 births.
Death Rate (2015 est) per 1,000 population 6.37 deaths.
Infant Mortality Rate (2015 est) per 1,000 live births 24.29 deaths.
Life Expectancy at Birth (2015 est) Male 69.85 years; Female 75.17 years.

Economy

Monetary Unit 1 Indonesian Rupiah (Rp) = 100 sen.
Exchange Rate (10 Sep 2015) US$1 = Rp14,337.44 (Indonesian Rupiah).
GDP purchasing power parity (2014 est) US$2.676 trillion.
GDP per capita (2014 est) US$10,600.

Insurance market structure

Number of registered insurers

2012 2013 2014 Non-life insurance
48 51
Life insurers 47 4 5 Non-life – Statistics
52 56
Professional reinsurers 4 (US$ mln) 2012 2013 2014
Gross written premium 4,330 3,848 5,148
Total 51 Retention ratio 1.0% 1.0% 1.0%
Incurred loss ratio 44.1% 39.1% 42.6%
Life insurance 2012 2013 2014 Underwriting results
14,141 13,144 10,159 Total assets 820 602 728
Total premiums 9,017 7,911 9,080

(US$ mln)

Total premiums

Life policies in force Non-life – Gross written premiums by class of business

250 5,000
Policies in force (US$ bln)
Gross written premiums (US$ mln)
200 Individual 4,000 Total
Group 3,000 Motor
150 114.4 2,000 Property
94.6 1,000 Marine

100 2008 2009 2010 2011 2012 2013 2014
26.2

50 89.1 104.6
58.0

2012 2013 2014

Back to Contents Sources: 2015 ASEAN Insurance Statistical Report;
Asosiasi Asuransi Jiwa Indonesia (AAJI); sigma Report

AEC – IMPACT ON INSURANCE • DECEMBER 2015 27