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Industry News
Insurance losses and grow increasingly in demand:, 17 December 2012

Greater awareness of insurance from year to year, the total premium income of the general insurance industry or a loss of Rp.28.96 trillion as of the third quarter of 2012, growing 14.4% compared to the same period last year. There is new hope on property insurance, motor vehicle and health insurance and personal accident.

Budi Herawan, Statistics Division Head of General Insurance Association of Indonesia (AAUI), said third growth flagship product is very convincing. Property insurance premiums reached Rp.7.9 trillion, growing by 17.9%. "In nominal growth is also the largest property insurance, Rp.1.2 trillion," said Budi, last weekend.

Property insurance premium growth was encouraging, given the tariff war. Jib, buying trends credits apartments, and construction of malls in big cities. As a result, the market share of the total property insurance premiums insurance industry also increased to 28%.
Indonesia Re Expects General Insurance to Increase Double Digits: December 2017

PT Reasuransi Indonesia Utama (Indonesia Re) expects the movement of the general insurance industry to grow faster because this is directly proportional to the movement of the reinsurance industry. President Director of Indonesia Re, Frans Sahusilawane said it is hoping the movement of premium growth of the insurance industry to move double digits.

Data from the General Insurance Association of Indonesia (AAUI), until the third quarter of 2017, the insurance industry's premium growth was at 2.8% with nominal Rp.4.4 trillion, up Rp.1.2 trillion compared to last year. While the reinsurance premiums rose 13% to Rp.8.35 trillion. In the same position last year, the reinsurance premium recorded a nominal value of Rp.7.39 trillion.

General Insurance in Indonesia
Indonesia Industry Report and Market Research
March 27, 2018
Industry Code : K81412
Forecast to : 2022

General Insurance in Indonesia This class consists of insurance enterprises that specifically handle the risk of financial loss, loss or damage to property/articles (motor vehicles, fire, marine cargo, comprehensive household, etc.).
The primary activities of firms in this industry are :
- Accident Insurance Provisions.
- Fire Insurance Provisions.
- Marine Cargo Insurance Provisions.
- Marine Hull Insurance Provisions.
- Personal Accident Insurance Provisions.
- Aviation Insurance Provisions.
- Mortgage Insurance.
- Motor Vehicle Insurance.
- Owner's Liability Insurance.
- Travel Insurance Provisions.
- Worker's Compensation Insurance Provisions.
- Surety Bonds.
- Custom Bonds.
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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
AAUI 0.39
Insurance Industry Growth in 2015 is estimated Rises 0.39
General insurance industry premium growth of more bright 0.39
Contribution of Insurance Industry Remains Low 0.39
Astra Cares for Situ Gintung 0.39
Foreign Companies Still Have Eye for Indonesian Insurance 0.39
AIU Targets Retail Premium to Reach Rp.420 Billion 0.39
CIU Takes Responsibility for Indonesia Air Transport 0.39
Nasional Re Books Rp.196 Billion Premium 0.39
Kasnic Gives BBB- CPA Rating to Askrida 0.39
Asei Pays Rp.20 Billion Claim 0.39
Growth of General Insurance Predicted to be Less than 10 Percent 0.39
Tugu Expands Market Segment to Include Corporate Non-Oil/Gas 0.39
ABDA'S Profit Slightly Grew 0.39
Asuransi Harta Premium Up 20 Percent 0.39
Jaya Proteksi Adds Rp.10 Billion to Capital 0.39
Asuransi Sinar Mas Pays Rp.2 Billion Claim for 'Grey February' Incident in Manado 0.39
Asuransi AXA Indonesia Holds AXA Hearts in Action 0.39
Asuransi Sinar Mas Pays Ridho's Motor Fire Claim 0.39
TPI Waits for Hong Kong Branch Balance Sheet 0.39
Lippo General's Distributes 17.89 Percent Dividend 0.39
Lippo Insurance Divides Dividend for Rp.25 Per Share 0.39
Sinar Mas Co-operates with 12 Real Estate Companies 0.39
Bumida Aims to Obtain Rp.230 Billion in Premium 0.39
Jasindo Targets Haj Insurance Market to Rise 0.39
Bintang's Terrorism Premium Reaches Rp.40 Billion 0.39
Jasindo Participates in the Angkasa Pura Tender 0.39
Raksa Pratikara Propels Non-Automotive Insurance 0.39
TPI Continues to Focus in Corporate Sector 0.39
Syariah Insurance Market Rp.780 Billion in 2006 0.39
Jasindo to Settle Pilgrimage Insurance Claim, Bisnis Indonesia, 3 February 2006, page B4 0.39
AIA Indonesia Propels Premium from Unit-linked Products 0.39
Islamic Based Insurance Company Competition Beginning to Get Fierce 0.39
Only 55 Insurance Companies Able to Fulfill Rp.50 Billion Capital 0.39
AIU Targets Higher Premium 0.39
HSBC and AIU Work on Corporate Clients 0.39
Askrida Aims to Attain Rp.185 Billion Premium 0.39
Asuransi Magna Lists Shares in JSX 0.39
Jasa Tania Books 30 Percent Premium Growth 0.39
Asuransi Bintang’s Profit Boosts 0.39
Jasindo Aims at Rp.1.97 Trillion 0.39
Reassurance's Emergency Decision to be Revoked 0.39
Wahana Tata Ready to Pay Off Lafarge's Claim 0.39
Surety Bond Awaits Government Project 0.39
Insurance Consolidation Needs Tax Incentive 0.39
CIU and Marsh Take Responsibility for Mandala's Insurance 0.39
Permata Bank Implements Car Ownership Credit Business Strategy 0.39
AXA Intends to Take Over Other Insurance Companies 0.39
Insurance Industry Structuring Starts 2008 0.39
LG Insurance Projects to Obtain Rp.118 Billion Premium 0.39
Raksa Pratikara Aims to Obtain Rp.450 Billion Premium Income 0.39
Bumida Aims to Obtain 10 Percent Premium from Medical Lawsuit Insurance 0.39
PT. Asuransi Umum Bumiputeramuda 1967 to Increase Premium Income by 35 Percent 0.39
Impact of Tsunami on Insurance Industry 0.39
Indonesian Financial Figures 0.39
Demand for Terrorism Policy Rises 0.39
Adira Insurance Receives 'Excellent' Predicate from Info Bank Magazine 0.39
Bank Buana Releases Ownership 0.39
Asuransi Jasa Tania Accumulates Rp.15 billion 0.39
The Establishment of Syariah Insurance Association 0.39
Asuransi Prisma Starts Operating in Corporate Sector 0.39
Tender Warranty Issued by Insurance Industry Becomes Main Option for Construction Company 0.39
Berdikari Insurance Company Targets to Become One of the Ten Largest General Insurance Company 0.39

Report Content

The General 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