Monday, July 24, 2017

Indonesia

Prudential Financial enters Indonesian life market

Prudential Financial enters Indonesian life market

The US-based insurer has bought a 49% stake in Asuransi Jiwa Mega Indonesia, a subsidiary of CT Corp.

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Fitch sees further growth in Indonesia’s insurance sector

Fitch sees further growth in Indonesia’s insurance sector

The rating agency forecasts significant benefits from recent positive economic developments.

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Indonesian life firms post huge premium growth

Indonesian life firms post huge premium growth

Premium income expanded 25.5% thanks to the popularity of unit-linked and traditional insurance products.

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Life premiums in Indonesia up 28%

Life premiums in Indonesia up 28%

Data released by the OJK shows that life insurers enjoyed solid premium growth in the first three months of this year.

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Aviva appoints CEO for China, Indonesia and Vietnam

Aviva appoints CEO for China, Indonesia and Vietnam

Randy Lianggara, who joined from AXA last year, takes on a newly created role to drive growth in these key markets.

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Indonesia urges insurers to buy government securities

Indonesia urges insurers to buy government securities

The Financial Services Authority says insurers should help offset the deficit in the state budget.

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Indonesia approves two new reinsurance brokers

Indonesia approves two new reinsurance brokers

The Financial Services Authority has issued operational licences to JLT Reinsurance Brokers and Inare Proteksi International.

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Life revenues up 50% in Indonesia

Life revenues up 50% in Indonesia

The hike in total premium revenues was complemented by growth in bancassurance segment revenues.

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Zurich, Chinese bank tie up on bancassurance

Zurich, Chinese bank tie up on bancassurance

Indonesian entity of Swiss giant partners with Bank of China to explore bancassurance services.

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Allianz and StanChart sign 15-year bancassurance deal

Allianz and StanChart sign 15-year bancassurance deal

The agreement gives access to the bank’s retail clients in Hong Kong, Singapore, Malaysia, Indonesia and China.

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Hanwa Life Indonesia mulls IPO in 2019

Hanwa Life Indonesia mulls IPO in 2019

The IPO is part of an effort to meet the regulator’s 80% foreign ownership limit for insurers.

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No buyers for troubled insurer Bumiputera

No buyers for troubled insurer Bumiputera

The Indonesian government is likely to consider state aid as efforts to find a strategic investor remain futile.

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Indonesia urged to fast-track policyholder protection

Indonesia urged to fast-track policyholder protection

The call was made following the replacement of the board of directors and commissioners of AJB Bumiputera 1912.

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Indonesia’s larger infra budget to benefit insurers

Indonesia’s larger infra budget to benefit insurers

Indonesia will see a bigger infrastructure budget for 2017 and it will be favourable to many insurers.

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Indonesia’s Jiwasraya eyes capturing younger market

Indonesia’s Jiwasraya eyes capturing younger market

The government-owned insurer looks to tap the younger market in its plan of digitalising its distribution and sales.

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Etiqa to acquire majority stake in Indonesian insurer

Etiqa to acquire majority stake in Indonesian insurer

The deal with general insurer Asuransi Asoka Mas will provide Etiqa with access to Indonesia’s untapped market.

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AIA eyes infrastructure investments in Indonesia

AIA eyes infrastructure investments in Indonesia

The country needs US$400b to fund projects until 2020, most of which will come from private investors.

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Indonesia urged to use cat bonds

Indonesia urged to use cat bonds

The SE Asian nation is the latest country to be urged to transfer risk via capital markets.

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Alexander Howell, Swiss Re Corporate Solutions

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers