News eDaily27 Oct 2017

Indonesia:Life market upbeat about growth prospects

| 27 Oct 2017

The Indonesian Life Insurance Association (AAJI) is optimistic that the industry can record 30% growth this year based on the growth trend of the last eight months.

Data from the Financial Services Authority (OJK) show that for the first eight months of this year, life premiums reached IDR110.60 trillion (US$8.1 billion), a 37.2% surge compared to the corresponding period last year, reported Kontan.

With a population of more than 260 million people, the potential of life insurance market in Indonesia is huge. Currently, only 1.7% of them hold an insurance policy.

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