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Exist in the Life Insurance Industry Crisis : September 2015

The life insurance industry managed to record positive growth amid slowing economic growth.

Report of the Indonesian Life Insurance Association (AAJI) regarding the performance development of the life insurance industry in Indonesia in the second quarter of 2015 mentions, total premium income of the life insurance industry increased by 26.6% from Rp.53.58 trillion in the second quarter of 2014 to Rp.67.82 kdua quarter trillion in 2015. The increase in total premium income was influenced by growth in new business premiums of 28.2% and a further premium of 24.4%.

"The condition of the national economy weakened and the stock market turmoil in the second quarter of this year, have an impact on national industries, including life insurance industry. However, we are grateful to the life insurance industry still posted a positive performance," said Chairman AAJI, Hendrisman Ramim in the exposure of industry performance Life insurance in the House AAJI, Jakarta, Thursday (09/03/2015).

"It shows people still believed life insurance, and increased public awareness of the importance of financial planning in the future," continued Hendrisman.
The Development of Banking Industry This Year is Better: July 2017

The banking industry in 2017 shows an indication that the economy is moving better than in 2016. This can be seen from the increase of Third Party Funds (DPK) collected by banks. The rebound occurred since September 2016 and showed an upward trend until May 2017 that grew above the 10% level, after earlier showing a downward trend from January 2014. This was conveyed by Chief Economist of PT Bank CIMB Niaga, Adrian Panggabean.

This increase is in line with the increasing labor market. An increase in the labor market is also correlated with the goods market. An increase in the output of the goods market also means that production activities in the country are increasing. On the other hand, the movement of loan charts also experienced conditions similar to those of DPK. Loan growth occurred in September 2016 and continues to rise near the 10% level in May 2017, after earlier showing a downward trend since January 2014. This also indicates that the economy is quite increased compared to two-three years ago.

Life Insurance in Indonesia
Indonesia Industry Report and Market Research
March 16, 2018
Industry Code : K81411
Forecast to : 2022

Life Insurance in Indonesia This class consists of insurance enterprises that specifically handle the risk of death, accident or sickness; and also includes old age / future pensions for the insured party with an insurance value fixed and agreed to by the parties included in the contract.
The primary activities of firms in this industry are:
- Life insurance provisions.
- Life re-insurance provisions.
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Chapter Headings US $ Select All
Industry Outlook 60.50
Key Statistics 60.50
Market Characteristics 36.30
Segmentation 36.30
Industry Conditions 60.50
Industry Performance 60.50
Key Competitors 60.50
Key Factors 27.50
Life Insurance Industry Records Growth 0.39
Trends Decrease Investment Results of Life Insurance Still Continues 0.39
AAJI Life Insurance Industry Optimistic Prospects Still Bright 0.39
The Rapid Life Insurance Industry, http 0.39
Bancassurance market expand the life insurance industry 0.39
Life Insurance Industry Competes in Area of Service 0.39
Life Insuranceís Performance in 2008 Plummets 0.39
Foreign Companies Still Have Eye for Indonesian Insurance 0.39
PT Pembangunan Perumahan (Persero) - Patria Park Apartment Cooperates with PT Asuransi Jiwa Eka Life 0.39
Another Success For Sequis Life 0.39
Eka Life Obtains Rp.514.62 Billion in Premium 0.39
BAJ Releases Great Eastern Indonesia Shares 0.39
Jiwasraya Books Rp.1.1 Trillion in Premium 0.39
Cigna Strengthens Bancassurance 0.39
Manulife Eliminates Front-end Fee of Unit-linked Product 0.39
Free Tour Package to Korea from Bringin Life 0.39
Cigna Sets Eye on 35 Percent Premium Increase 0.39
Allianz Projects to Sell 1,000 Takaful Policy 0.39
Prudential Lists Clients Victimized by Disaster 0.39
AIG Starts to Pay Claims for Yogya Earthquake 0.39
Prudential Ready to Take Over Local Insurance Company 0.39
Bringin Life Partners with Sharia Financial Institutions 0.39
KAI Asked to Leave Jiwasraya 0.39
Jiwasraya Builds Call Center; Bisnis Indonesia, 1 March 2006, page B4 0.39
Bumiputera Aims At Rp.3.9 Trillion Premium 0.39
YLKAI Demands that MLC Life Clarifies Status of Clients 0.39
Allianz to Follow AXA's Footsteps 0.39
Allianz Maximizes the Role of Franchise Agency 0.39
Niaga and Manulife Collaborates to Market Unit-linked Product 0.39
Cigna Co-operates with Carrefour and GE Finance 0.39
YLKAI 0.39
Islamic Based Insurance Company Competition Beginning to Get Fierce 0.39
AXA Launches New Funds 0.39
Equity Holds Lottery 0.39
YLKAIís Advice for Asuransi Winterthur 0.39
Bringin Life Syariahís Premium Amounts to Rp.70 Billion 0.39
Winterthur to Rename Local Insurance Arm 0.39
Bringin Life Aims to Obtain Rp.1 Trillion Premium 0.39
Jiwasraya Increases Assets 0.39
Manulife Prepares Syariah Division 0.39
AIG Life Indonesia Sets Eye to Take Over Two Companies 0.39
Jiwasraya Increases Periodic Premium 0.39
AIG Life Projects 300 Percent Premium Growth 0.39
AIA Syariah Aims to Acquire Rp.30 Billion Premium 0.39
Sequis Life Premiums Have Not Yet Increased Despite Acquistion 0.39
AIA Aims at Rp. 1.5 Trillion Premium 2006 0.39
Manulife Launches Child Insurance 0.39
Identification Card Insurance in Balikpapan 0.39
Manulife Completes Aceh Claim US$ 3.6 Million 0.39
Sequis Completes Acquisition of MetLife 0.39
Insurance Consolidation Needs Tax Incentive 0.39
Sequis Life's Optimistic to Acquire Rp.1 Trillion Premium 0.39
AIA Opens Islamic Insurance in 2006 0.39
AJB Bumiputera Obtains Rp.1.6 Trillion Premium 0.39
Jiwasraya Hopes Premiums Will Rise 0.39
Manulife Eyes 25 Percent Growth 0.39
MetLife Sells Local Affiliate 0.39
Sequis Life Begins MetLife Acquisition 0.39
Sequis Life Targets New Business Premium to Reach Rp. 190 billion 0.39
AIA Maximizes Bancassurance 0.39
AJ CAR Clarifies Insurance Claim Case 0.39
Manulife Targets Premium to Reach Rp.1.5 Trillion in 2005 0.39
Manulife Publishes Financial Report This Weekend 0.39
Insurance Industry Structuring Starts 2008 0.39
PT Astra CMG Life Targets Premium Income of Rp.150 billion in 2005 0.39
MLC Life Indonesia Receives Rp.20 Billion of Capital Injection 0.39
Prudentialís Premium Rises 0.39
Dayin Mitra Buys Back 12,500 Shares 0.39
AXA Life Develops Professional Agent Concept 0.39
10 Insurance Companies Receive Best Performance Awards 0.39
10 Insurance Companies Receive Best Performance Awards 0.39
PT Indoexchange Tbk.'s Agreement with PT Fadent Mahkota Sahid 0.39
The Establishment of Syariah Insurance Association 0.39

Report Content

The Life Insurance industry in Indonesia research report contain trend analysis, statistics, market size information, industry growth rates as well as major competitors.

Major market segments are identified and also those forces affecting demand and supply within this industry. Performance analysis includes emerging industry trends as well as recent results and performance of each key company. Drawing on the depth of information DIS also provides 5 year forecasts for this industry.

The comprehensive study also examines details such as the barriers to entry, operating cost structure, technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic regional data.

KEY STATISTICS 2014 2015 2016 2017 2018
Industry Revenue 107,942 104,367 131,689 158,085 169,151 Rp.Billion
Industry Gross Product 7,016 6,784 8,560 10,276 10,995 Rp.Billion
Number of Establishments 110 120 130 130 130 Units
Employment 109,600 101,200 85 81,000 85,400 Units
Exports 2,856 3,457 6,481 6,521 7,820 Rp.Billion
Imports 10,926 10,899 25,482 30,419 35,880 Rp.Billion
Total Wages 1,425 1,316 1,114 1,010 1,109 Rp.Billion
Domestic Demand 116,012 111,809 150,690 181,983 197,211 Rp.Billion
The data above is sample data only

Cost of Goods Sold 67.13 Gross Profit 32.87
Operating Expense 21.5 Profit (Loss) Before Tax 11.36
Administration 1.58 Depreciation 0.56
Electricity 0.66 Freight 1.99
Fuel, Parking, Toll & Retribution 1.62 Interest 3.09
Land and Building Rental 2.74 Marketing 2.69
Repairs and Maintenance 0.54 Service Fee 0.7
Staff Welfare Allowance 1.38 Other Expenses 0.92
Stationery & Inventory 0.48 Telephone 0.8
Utensils and Equipment 1.24 Wages and Salaries 0.5
The data above is sample data only

Central Java 13.4 DKI Jakarta 6.5
East Java 22.4 North Sumatra 17.9
Papua 2.0 Bali 3.0
South Sulawesi 6.0 West Java 28.8
The data above is sample data only

Chapter Headings

Industry Outlook

A key analysis section, the Industry Outlook outlines expectations for the key industry indicators over the next five-year period.

Key Statistics

The key indicators for the industry for last five years are provided here, and include:
•   Industry Revenue
•   Industry Value Added
•   Employment
•   Establishments
•   Exports
•   Imports
•   Domestic Demand
•   Total Wages

Market Characteristics

Market Size
This section gives the size of the domestic market and the size of the export market for each industry.

This section lists the industry"s major supplier and its major customer industries, with SIC"s (KLUI) for easy reference.

Demand Determinants
Lists the key factors which are likely to cause demand to rise or fall.

Domestic and International Markets
The trend for the size of exports (are they increasing, decreasing, not changing) and the trend for the size of exports as a proportion of turnover. The size of the domestic market (domestic demand) and the proportion of this accounted for by exports
Outlines the trend for the size of domestic demand and the trend for imports as a proportion of domestic demand States the size of the domestic market (domestic demand) and the proportion of this accounted for by imports
Domestic and international markets defines the market for the products and services of this industry, both locally and in other countries. This outlines: the size of the domestic market (domestic demand) and the proportion of this accounted for by imports, the key countries from which imports are sourced (with percentage and relative size if available), the trend for the size of domestic demand and the trend for imports as a proportion of domestic demand, the size of turnover and the size of exports as a proportion of turnover, the key export destinations (percentages and relative importance of these, if available, the trend for the size of exports (are they increasing, decreasing, not changing) and the trend for the size of exports as a proportion of turnover.

Basis of Competition
Gives the key types of competition between firms within the industry. It also highlights competition from substitute products in alternative industries.


Products and Service Segmentation
This details the key products and/or services provided by this industry. Wherever possible, we include an indication as to which of these are the most important to demonstrate which have a more significant influence over industry results as a whole.

Major Market Segments
The key client industries and/or groups are detailed here. Wherever possible, an indication as to which of these are the most important is included. This will highlight the client groups that are most important to the industry. Trends in these client groups may have an important impact on the demand for products and services provided by the SIC, hence they may be important to monitor suggested links

Industry Concentration
This is an indicator of how much industry turnover is accounted for by the top players.

Geographic Spread
This is a guide to the regional share of industry turnover/gross product. DIS calculates this on the basis of turnover or production, however, the number of establishments may be used as a proxy where these are not available.

Industry Conditions

Barriers to Entry
This section outlines factors that can prevent a new company from entering the industry and will also give an indication of the extent to which this occurs.

Taxation refers to all kinds of taxation that are specific or are particularly important to an industry. This includes taxation concessions.

Industry Assitance
Assistance refers to government and/or other measures in place designed to improve the performance of the industry or sections of the industry. (eg grants, subsidies)

Regulation and Deregulation
Where licenses are required to operate in an industry, these will be noted here. Where possible, details regarding the degree of difficulty in obtaining a licence are included. Important issues relating to regulation and deregulation are included here.

Cost Structure
The average costs for a company operating in this industry as a percentage of total revenue.

Capital and Labour Intensity
Provides a guide to the amount of capital used in production/providing a service compared to the amount of labor in the total mix of inputs.

Technology and System
Acknowledges the latest technology and/or systems available to this industry within the country. Technology refers to machinery and equipment (such as computerisation) which enables better and more efficient production. Systems refer to methods of production that also enables better and more efficient production.

Industry Volatility
Industry volatility refers to the year on year fluctuations, which occur in industry output.

This gives an indication of the extent to which the industry is global. As a guide, we base its definition of the level of globalization on a number of factors, some of which include: the level of foreign ownership, the proportion of demand accounted for by foreign operators, and in the case of industries dominated by domestic participants, the volume of production conducted in other countries.

Industry Performance

Historical Performance
This section details previously important events in the development of the industry

Current Performance
This is the key analysis section for the industry over the past five years. The key performance indicators for the industry in question are discussed, providing trends and explanations for occurrences in the industry.

Key Competitors

Lists the Major Players in the industry with key details relating to those players

Key Factors

Key Sensitivities
The sensitivities are factors that are outside of the control of an operator of the industry, but are likely to have significant impact on a business.

Key Success Factors
These are the factors within the control of the operator and which should be followed in order to be successful. Often these may include behavior that will help to minimise the effects of the key sensitivities.

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Table of Contents
About this Report
Key Statistics
Market Characteristics
Industry Conditions
Key Factors
Key Competitors
Industry Performance