Boston, MA -- (SBWIRE) -- 05/21/2014 -- The Indonesian non-life insurance segment accounted for 18.1% of the total insurance industry's gross written premium in 2013. The segment grew at a review-period (2009-2013) compound annual growth rate (CAGR) of 11.6%, as a result of a favorable regulatory framework for non-life products such as motor, property, and marine, aviation and transit insurance. It was further supported by a rise in passenger car sales, property prices and other improving economic indicators, as Indonesia's GDP grew at a review-period CAGR of 6.2%. These factors are also expected to support the segment over the forecast period (2014-2018). As a result, it is anticipated to grow at a CAGR of 9.6% over the forecast period.
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- The Indonesian non-life segment was driven mainly by property insurance during the review period.
- The motor insurance category is expected to record a forecast-period CAGR of 12.0% to reach IDR22.2 trillion (US$1.7 billion) in 2018, as a result of rising motor sales in Indonesia, especially passenger cars, and compulsory third-party motor insurance.
- Indonesian non-life insurance penetration stood at 0.39% in 2012, lower than the Asian average of 1.6%.
- The Indonesian non-life insurance segment is competitive, with 86 companies operating in 2012.
- The Indonesian non-life segment is moderately fragmented, with the top 10 companies accounting for 54.5% of the non-life gross written premium in 2012.
This report provides a comprehensive analysis of the non-life insurance segment in Indonesia:
- It provides historical values for Indonesia's non-life insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
- It offers a detailed analysis of the key categories in Indonesia's non-life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for non-life insurance products in Indonesia.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Indonesia for the non-life insurance segment.
- It provides a detailed analysis of the reinsurance segment in Indonesia and its growth prospects.
- It profiles the top non-life insurance companies in Indonesia and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in depth historic and forecast market data related to the Indonesian non-life insurance segment and each category within it
Companies Mentioned in this Report: PT Asuransi Jasa Indonesia Persero, PT Asuransi Astra Buana, PT Asuransi Sinar Mas, PT Asuransi Central Asia, PT Asuransi Wahana Tata, PT Tugu Pratama Indonesia, PT Asuransi Adira Dinamika, PT Asuransi Msig Indonesia, PT Asuransi Kredit Indonesia (Persero), PT Asuransi Jaya Proteksi
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