Indonesia Insurance Report Q4 2016

Publisher Name :
Date: 14-Sep-2016
No. of pages: 59

BMI View: We have a positive long-term outlook for Indonesia's insurance sector over the 2016-2020

period. With an average annual growth rate of over 10% for total premiums and low rates of penetration

and density, we expect the market to become increasingly attractive to (foreign) investors as there is scope

for development. Particularly basic motor and property lines should grow significantly over the coming

years, as household disposable incomes continue to rise. Some regulatory barriers may, however,

potentially put a lid on the sector's ongoing development.

Key Updates and Forecasts

? Forecast to account for 69% of total written premiums in 2016, life insurance constitutes the larger

segment of Indonesia's insurance sector. Over the next five years, the life market should expand by

roughly 12% annually on average - reaching USD14.6bn in 2020.

? Indonesia's smaller and less developed non-life insurance segment is expected to grow by 9.3% annually

on average over the 2016-2020 period, which means that it will be outpaced by the faster growing life

segment. Non-life premiums will be driven primarily by motor and property insurance. In 2020, non-life

premiums should amount to USD5.9bn.

? Insurance premiums growth in Indonesia over the next five years should mainly be pushed upward by the

growing levels of household disposable incomes, which will improve the affordability of many of the

marketed insurance products. However, it is important to continue to raise customer awareness of the

benefits of life and non-life insurance in general, in order to further generate an uptick in demand

Indonesia Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Indonesia 2013-2020) 5
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Indonesia 2013-2020) 12
Table: Life Insurance Claims (Indonesia 2008-2014) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Indonesia 2013-2020) 16
Table: Non-Life Insurance Claims (Indonesia 2009-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Indonesia 2013-2020) 26
Insurance Risk/Reward Index 29
Asia Pacific Industry Risk/Reward Index 29
Table: Asia Pacific Insurance Risk/Reward Index Q416 30
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: Life Insurance Premiums (USDmn), 2009-2013 33
Non-Life Market Overview 35
The Product Offering 35
The Competitive Landscape 36
Table: Non-Life Insurance Premiums (USDmn), 2008-2014 37
Company Profile 39
AIA Group 39
Allianz 42
AXA 45
Manulife Financial 48
Prudential plc 50
Methodology 53
Industry Forecast Methodology 53
Risk/Reward Index Methodology 56
Table: Indicators 58
Table: Weighting of Indicators 59

List of Tables

Table: Headline Insurance Forecasts (Indonesia 2013-2020)
Table: Life Premiums (Indonesia 2013-2020)
Table: Life Insurance Claims (Indonesia 2008-2014)
Table: Non-Life Premiums (Indonesia 2013-2020)
Table: Non-Life Insurance Claims (Indonesia 2009-2014)
Table: Non-Life Insurance Premiums by Product Line (Indonesia 2013-2020)
Table: Asia Pacific Insurance Risk/Reward Index Q416
Table: Life Insurance Premiums (USDmn), 2009-2013
Table: Non-Life Insurance Premiums (USDmn), 2008-2014
Table: Indicators
Table: Weighting of Indicators
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