Friday, April 27, 2018

Indonesia

Rescue plan for Indonesian life insurer collapses

Rescue plan for Indonesian life insurer collapses

Evergreen’s planned rescue of the embattled Bumiputera has failed after disagreements over funds.

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Indonesian regulator highlights low penetration

Indonesian regulator highlights low penetration

The domestic insurance market is valued at just 2.99% of the country’s gross domestic product, says OJK.

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Three Indonesian unicorns to invest in insurtech startup

Three Indonesian unicorns to invest in insurtech startup

The three billion-dollar startups are looking to invest in PasarPolis, an online insurance portal.

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Bank Danamon considers selling stake in insurance subsidiary

Bank Danamon considers selling stake in insurance subsidiary

The Indonesian bank’s insurance subsidiary is attracting interest from foreign investors.

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Great Eastern mulls expansion in Indonesia, Thailand

Great Eastern mulls expansion in Indonesia, Thailand

The insurer’s goals include becoming one of the 10 biggest insurers in Indonesia within the next five years.

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Penetration improving in India but still lower than neighbours

Penetration improving in India but still lower than neighbours

At 3.49%, insurance buying in the country is up significantly from 2.7% in 2001, though still lags China.

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Fintech start-up Jirnexu banks on insurance as growth driver

Fintech start-up Jirnexu banks on insurance as growth driver

The South-East Asian financial technology startup has said that insurance will account for up to 30% of its growth.

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CBA eyes selling stake in Indonesian venture

CBA eyes selling stake in Indonesian venture

The sale of a majority stake in Commonwealth Life could value the insurer at up to US$250m.

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Vietnam suffers rare US$1bn loss after Typhoon Damrey

Vietnam suffers rare US$1bn loss after Typhoon Damrey

This year marks the first time since 1993 that Vietnam has had a season with a Cat 2 and 3 typhoon landfall.

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Allianz Global Corporate & Specialty expands in China, Indonesia

Allianz Global Corporate & Specialty expands in China, Indonesia

The business has started operations in Beijing and Jakarta to meet growing demand in the corporate insurance segment.

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Etiqa completes acquisition of Indonesian insurer

Etiqa completes acquisition of Indonesian insurer

Maybank’s wholly-owned insurance arm has completed its acquisition of Asuransi Asoka Mas for US$15.35m.

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DBS and Chubb ink 15-year regional distribution deal

DBS and Chubb ink 15-year regional distribution deal

The bancassurance agreement covers five markets: Singapore, Hong Kong, Taiwan, Indonesia and China.

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Only 10% of Asian firms prepared for cyberattacks

Only 10% of Asian firms prepared for cyberattacks

Businesses in the region are ill-equipped against and not covered for cyber attacks, says QBE survey.

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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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