News eDaily20 Nov 2017

Indonesia:Authority upbeat about insurance industry

20 Nov 2017

The Financial Services Authority (OJK) is optimistic that insurance and reinsurance premium revenue will be able to reach IDR258 trillion (US$19.1 billion) for the whole of ths year, in line with its projections.

Mr Riswinandi, CEO of Non-Banking Financial Industry at OJK, said that insurance and reinsurance premium income amounted to IDR183.45 trillion for the first nine months of this year. "That number reached 71.1% of the projection set by OJK for the year to 31 December 2017," he said in a written statement issued last week.

Assets in the insurance industry totalled IDR628.68 trillion at 30 September, 17.6% higher than at the end of 2016. Insurance investments amounted to IDR505.6 trillion at the end of September, an increase of 22.42% compared to the end of December 2016.

For the whole of 2016, the life industry recorded a total premium income of IDR167.04 trillion, a 29.8% growth year-on-year compared with 2015. The non-life market grew at 5.1% last year to IDR61.9 trillion in terms of premiums.


 

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Other News


Follow Asia Insurance Review