The Financial Services Authority (OJK) believes that the Islamic insurance sector in Indonesia will consolidate in the next few years.
AIA has recently launched its latest 'Rethink Healthy' campaign, which aims to change how people view health and make it a bigger part of their daily lives by offering a new definition of health, encouraging more people to live healthier lives through enjoyable and easily integrated daily activities.
The financial performance of Asuransi Asei Indonesia (Asei) is expected to remain volatile due to its high exposure to general insurance relative to its small size, and changes in reserves associated with its existing long-tail credit insurance business, according to Fitch Ratings Indonesia (Fitch).
In Indonesia's (re)insurance market, health protection products will "experience adjustments in both premium pricing and terms and conditions (T&C) to better meet the evolving needs of the market and ensure financial sustainability" over the coming year, according to Indonesia Re president director Benny Waworuntu.
MSIG Asia (MSIG) has announced that it has invested in a major stake in Serenity Health Partners (Serenity), a Singapore-incorporated health solutions provider.
Estimates are that, in 2023, a third of the total number of insurance companies in Indonesia (excluding Shariah business units or windows [UUS]) that have a capital of less than IDR250bn ($16m), meaning that they are unlikely to meet new minimum capital requirements by the deadline of 2026, and so will likely be involved in M&As, according to Algo Research which offers research on the Indonesian financial sector.
Indonesia's life insurance industry chalked up premium income of IDR88.49tn ($5.7bn) in the first six months of this year, 2.6% higher than in the first half of 2023, according to data from the Life Insurance Association of Indonesia (AAJI).
The community programme, called "Hoops+Health", is inspiring engagement, activity and healthy living through basketball by improving community access to courts and education across six Asian markets.
The Financial Services Authority (OJK) is strengthening the development of health insurance to promote insurance penetration and density.
Collaboration is the key to improving access and quality of health insurance services for the Indonesian people, according to the chairman of the Indonesian Insurance Council (DAI), Mr Yulius Billy Bhayangkara.