Indonesia Life Insurance Newsletter, February 2016

  • Print
  • Connect
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Google+
By Iwan Juwono, Halim Gunawan, Richard W. Holloway | 10 February 2016
The Asosiasi Asuransi Jiwa Indonesia (AAJI) reported that, despite the economic slowdown, the life insurance industry grew total gross premium by 16% year-on-year in the first nine months of 2015 to IDR 100.8 trillion. Unit-linked business is still dominating the market, contributing to 53.7% of gross premium in the first nine months of 2015. Total income (premium income and investment income) went from IDR 120.9 trillion in the first nine-month period of 2014 to IDR 89.1 trillion in the same period in 2015. The AAJI has projected growth of gross premium income of between 20% and 30% for 2016.