"Indonesia Insurance Report Q2 2015" is now available at Fast Market Research
Recently published research from Business Monitor International, "Indonesia Insurance Report Q2 2015", is now available at Fast Market Research
[UKPRwire, Sat Mar 07 2015] The under-penetrated nature of the insurance sector offers tremendous growth potential for firms over the coming years, bolstered by the country's young demographics and rising middle class consumers. Furthermore, the retention of the 80% foreign ownership cap in the sector will allow for greater M&A activity to take place in the next few years as more foreign firms look to enter the market.
Indonesia's insurance market offers enormous potential for growth. With a population of around 250mn (expected to increase to 264mn by 2018) and low insurance penetration rates, many local and international insurers have recognised the opportunity and aggressively expanded into the Indonesian insurance market in recent years. We expect steady economic growth to underpin the expansion of the insurance market over the coming years.
Full Report Details at
In 2015, we forecast gross premiums growth to accelerate to 3.2% in USD terms to USD19.8bn on the back of our Country Risk team's forecast for a pickup in economic growth. Over the 2016-2019 period, we forecast gross premiums to grow at an annual average of 11.1% (in USD terms) to hit USD30.1bn by 2019. A larger proportion of this growth will come from the life sector due to the entrenched nature of life insurance as a conduit for savings. Furthermore, poor state provision of both medical and retirement benefits mean that households that can afford individual cover and savings products are highly inclined to do so. However, the non-life segment will also expand over this period - albeit at a smaller pace - on the back of steady growth in auto sales as well as the rollout of universal health coverage.
Additionally, while the retention ratio of Indonesia's insurance sector is at 69.0% currently, we expect it to remain roughly constant over the coming years as the life sector, which accounts for 75.0% of the sector, remains generally well-capitalised and will therefore have stable reinsurance needs over the coming years. However, the...
The Indonesia Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Indonesia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Indonesian insurance industry.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
You may also be interested in these related reports:
- South Africa Insurance Report Q2 2015
- Iran Insurance Report Q2 2015
- Nigeria Insurance Report Q2 2015
- Poland Insurance Report Q2 2015
- Bahrain Insurance Report Q2 2015