Thursday, October 19, 2017

Indonesia

Allianz hit by Indonesia’s troubled life market

Allianz hit by Indonesia’s troubled life market

Huge challenges in the country’s life market have taken a toll on the German insurer’s gross premium income.

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Indonesia mandates greater allocation to bonds

Indonesia mandates greater allocation to bonds

Domestic pension funds and insurers will be required to invest a minimum of 20% of their assets in bonds.

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Indonesian life insurers bullish on 2016 premium growth

Indonesian life insurers bullish on 2016 premium growth

Despite a weak local economy, life premiums are forecast to grow by about 15% — more than double last year’s rate.

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Sun Life acquires full control of Indonesian JV

Sun Life acquires full control of Indonesian JV

The US$42m deal, which is expected to close by September, gives it full control of CIMB Sun Life.

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Manulife Indonesia launches sharia-compliant life product

Manulife Indonesia launches sharia-compliant life product

The product is being launched in partnership with Islamic lender Bank Muamalat to widen its customer base.

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Indonesia’s healthcare dividend

Indonesia’s healthcare dividend

The ambitious universal healthcare scheme booked another deficit last year but is headed in the right direction.

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Strong growth for Indonesia’s general insurance sector

Strong growth for Indonesia’s general insurance sector

Growth is expected to be 15% to 20% this year, or about triple the 6.7% expansion posted last year.

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Unit-linked business forecast to still grow in Indonesia

Unit-linked business forecast to still grow in Indonesia

The Indonesian Life Insurance Association forecasts growth of 10% to 15% this year to more than US$6bn.

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Indonesia’s takaful accounts for 6.2% of insurance market

Indonesia’s takaful accounts for 6.2% of insurance market

Sharia insurance products now account for 6.2% of the country’s market by gross written premiums.

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AIG Indonesia launches trade credit insurance

AIG Indonesia launches trade credit insurance

The company is cashing in on the government’s plan to boost non-oil and gas commodity exports.

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Indonesia exempts unit-linked life products from new bond rules

Indonesia exempts unit-linked life products from new bond rules

Firms will soon be allowed to manage their own portfolios in government bonds independently.

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Indonesia’s legislators seek limits on foreign ownership

Indonesia’s legislators seek limits on foreign ownership

No decision yet on threshold, says OJK, but existing majority owners are hoping for an exemption.

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Indonesian firms target country’s 88 million internet users

Indonesian firms target country’s 88 million internet users

With just 2.5% insurance penetration, more companies are going online to win customers and boost premiums.

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Indonesia to limit foreign ownership to 30%

Indonesia to limit foreign ownership to 30%

The country’s insurance regulator announced its latest protectionist measure to reporters on Friday.

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Bank Rakyat Indonesia cancels sale of insurance arm

Bank Rakyat Indonesia cancels sale of insurance arm

State-controlled lender has reportedly scrapped the sale of 40% stake in its life insurance arm.

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DBS, Manulife officially launch US$1.2bn bancassurance deal

DBS, Manulife officially launch US$1.2bn bancassurance deal

The deal allows the Canadian insurer to distribute its products in DBS branches across the region.

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Indonesia to maintain premuim revenue growth in 2016

Indonesia to maintain premuim revenue growth in 2016

Life companies forecast to post a 20%-30% increase next year, according to AAJI

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Bank Rakyat Indonesia buys insurer for US$114m

Bank Rakyat Indonesia buys insurer for US$114m

Indonesia’s second-largest lender is finalising its acquisition of Bringin Jiwa Sejahtera Life.

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AUTUMN 2017

Roundtable

Convergence of reinsurance and capital management