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Non-Life Insurance in Indonesia, Key Trends and Opportunities to 2020

Non-Life Insurance in Indonesia, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in Indonesia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Indonesian non-life insurance segment, and a comparison of the Indonesian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Indonesian economy and demographics, explains the various types of natural hazard and their impact on the Indonesian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in Indonesia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Indonesian non-life insurance segment, including:

  • The Indonesian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Indonesian economy and demographics
  • A comparison of the Indonesian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Indonesian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Indonesian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Indonesia
  • Details of regulatory policy applicable to the Indonesian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Indonesia:
  • It provides historical values for the Indonesian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Indonesian non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Indonesian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Indonesia.
  • It analyzes various natural hazards and their impact on the Indonesian insurance industry
  • It profiles the top non-life insurance companies in Indonesia, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Indonesian non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Indonesian non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Indonesian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • With effect from February 1, 2014, insurance regulator the Otoritas Jasa Keuangan (OJK) required all Indonesian non-life insurers to apply a compulsory tariff to property and motor policies.
  • Indonesia’s non-life segment accounted for 27.8% of the industry's gross written premium in 2015.
  • The gross written premium of the Indonesian non-life segment increased at a review-period CAGR of 13.8%. Growth in the non-life segment can be attributed to the country’s steady economic growth and stable political environment.
  • In December 2014, the regulator proposed to make it mandatory for insurers to cede 25% of business generated to the local reinsurers. However, for classes such as motor and cargo it was 100% to local reinsurers.
  • At the end of 2015, there were 76 insurers operating in Indonesian non-life segment. The 10 leading insurers accounted for 55.2% of the segment’s gross written premium in 2014.


  • Key Facts and Highlights
    • Table Indonesian Non-Life Insurance - Key Facts, 2014
    • Table Indonesian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Value Added to Indonesian GDP (% of Total GDP), 1990-2014
    • Table Working Population Percentages by GDP Sector (% of Total Indonesian Population), 1990-2014
    • Table Indonesian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Indonesian Non-Life Insurance - Gross Written Premium (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Indonesian Non-Life Insurance - Gross Written Premium (IDR Trillion and US$ Billion), 2015-2020
        • Table Indonesian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Indonesian Non-Life Insurance - Premium per Capita (IDR and US$), 2011-2015
        • Table Indonesian Non-Life Insurance - Premium per Capita (IDR and US$), 2015-2020
      • Claims
        • Table Indonesian Non-Life Insurance - Paid Claims (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Non-Life Insurance - Paid Claims (IDR Trillion and US$ Billion), 2015-2020
      • Profitability
        • Table Indonesian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Indonesian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Indonesian Non-Life Insurance - Total Assets (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Non-Life Insurance - Total Assets (IDR Trillion and US$ Billion), 2015-2020
        • Table Indonesian Non-Life Insurance - Total Investment Income (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Non-Life Insurance - Total Investment Income (IDR Trillion and US$ Billion), 2015-2020
        • Table Indonesian Non-Life Insurance - Investment Portfolio (IDR Trillion), 2011-2015
        • Table Indonesian Non-Life Insurance - Investment Portfolio (IDR Trillion), 2015-2020
  • Outlook by Category
    • Table Indonesian Non-Life Insurance - Direct Written Premium by Category (IDR Trillion),2011-2015
    • Table Indonesian Non-Life Insurance - Direct Written Premium by Category (IDR Trillion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Indonesian Property Insurance - Direct Written Premium by Sub-Category (IDR Trillion), 2011-2015
        • Table Indonesian Property Insurance - Direct Written Premium by Sub-Category (IDR Trillion), 2015-2020
      • Claims
        • Table Indonesian Property Insurance - Paid Claims (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Property Insurance - Paid Claims (IDR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indonesian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Indonesian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product Overview
        • Table Indonesian Traffic Accidents, Deaths and Injuries, 2010-2014
      • Premium
        • Table Indonesian Motor Insurance - Direct Written Premium (IDR Trillion), 2011-2015
        • Table Indonesian Motor Insurance - Direct Written Premium (IDR Trillion), 2015-2020
      • Claims
        • Table Indonesian Motor Insurance - Paid Claims (IDR Trillion and US$ Billion), 2011-2015
        • Table Indonesian Motor Insurance - Paid Claims (IDR Trillion and US$ Billion), 2015-2020
      • Profitability
        • Table Indonesian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Indonesian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product Overview
      • Premium
        • Table Indonesian Liability Insurance - Direct Written Premium (IDR Trillion), 2011-2015
        • Table Indonesian Liability Insurance - Direct Written Premium (IDR Trillion), 2015-2020
      • Claims
        • Table Indonesian Liability Insurance - Paid Claims (IDR Billion and US$ Million), 2011-2015
        • Table Indonesian Liability Insurance - Paid Claims (IDR Billion and US$ Million), 2015-2020
      • Profitability
        • Table Indonesian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Indonesian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product Overview
      • Premium
        • Table Indonesian Marine, Aviation and Transit Insurance - Direct Written Premium (IDR Trillion), 2011-2015
        • Table Indonesian Marine, Aviation and Transit Insurance - Direct Written Premium (IDR Trillion), 2015-2020
      • Claims
        • Table Indonesian Marine, Aviation and Transit Insurance - Paid Claims (IDR Billion and US$ Million), 2011-2015
        • Table Indonesian Marine, Aviation and Transit Insurance - Paid Claims (IDR Billion and US$ Million), 2015-2020
      • Profitability
        • Table Indonesian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Indonesian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Earthquakes
    • Flooding
    • Tsunamis
    • Wildfires
    • Volcanic Activity
    • Exposure
  • Competitive Landscape
    • Overview
      • Table Indonesian Non-life Insurance - Composition of Insurers (2008-2015)
      • Table Indonesian Insurance Industry - Structure (2008-2015)
      • Table Indonesian Insurance Industry - Shares of Leading Insurers (%), 2014
    • Company Profiles
      • PT Asuransi Jasa Indonesia Persero - company overview
        • Table PT Asuransi Jasa Indonesia Persero - Key Facts
        • Table PT Asuransi Jasa Indonesia Persero - Key Financials (IDR Trillion), 2011-2015
      • PT Asuransi Sinar Mas - company overview
        • Table PT Asuransi Sinar Mas - Key Facts
        • Table PT Asuransi Sinar Mas - Key Financials (IDR Trillion), 2011-2015
      • PT Asuransi Central Asia - company overview
        • Table PT Asuransi Central Asia - Key Facts
        • Table PT Asuransi Central Asia - Key Financials (IDR Trillion), 2011-2015
      • PT Tugu Pratama Indonesia - company overview
        • Table PT Tugu Pratama Indonesia - Key Facts
        • Table PT Tugu Pratama Indonesia - Key Financials (IDR Trillion), 2011-2015
      • PT Asuransi Kredit Indonesia (Persero) - company overview
        • Table PT Asuransi Kredit Indonesia (Persero)- Key Facts
        • Table PT Asuransi Kredit Indonesia (Persero) - Key Financials (IDR Trillion), 2011-2015
  • Governance, Risk and Compliance
    • Table Indonesia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table Indonesia - Life Insurance Regulatory Framework
      • Property Insurance
        • Table Indonesia - Property Insurance Regulatory Framework
        • Table Indonesia - Tariff Rates for Earthquake Insurance (Per Mille of Sum Insured)
        • Table Indonesia - Tariff Rates for Flood Insurance (% of Sum Insured)
        • Table Indonesia - Tariff Rates for Business Interruption Insurance
      • Motor Insurance
        • Table Indonesia - Motor Insurance Regulatory Framework
        • Table Indonesia - Comprehensive Motor Insurance Tariff Rates (% of Sum Insured)
        • Table Indonesia - Total Loss Motor Insurance Tariff Rates (% of Sum Insured)
        • Table Indonesia - Earthquake Insurance Tariff Rates for Motor Vehicles
        • Table Indonesia - Flood Insurance Tariff Rates for Motor Vehicles
      • Liability insurance
        • Table Indonesia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workmen compensation insurance
      • Professional indemnity insurance for insurance brokers
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Financial Services Authority
      • The General Insurance Association of Indonesia (Asosiasi Asuransi Umum Indonesia)
      • The Indonesian Life Insurance Association (Asosasi Asuransi Jiwa Indonesia)
      • The Indonesian Insurance Council (Dewan Asuransi Indonesia)
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Indonesia - Corporation Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Indonesian Insurance Industry - Policies and Premium, 2011-2015
      • Table Indonesian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Indonesian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Indonesian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Indonesian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Indonesian Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Indonesian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Indonesian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Indonesian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Indonesian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Indonesian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Indonesian Non-Life Insurance - Motor Insurance, 2015-2020
    • Liability Insurance
      • Table Indonesian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Indonesian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Indonesian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Indonesian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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