Tag Search Result

  • Asia: Microinsurers cite profits, branding and CSR as goals

    Most respondents to a recent survey on microinsurance in the Philippines, Indonesia and Sri Lanka, place more importance on “Business (profitability)” as their reason for entering this market, said FALIA (The Foundation for the Advancement of Life & Insurance Around the world). But most also gave some weight to “Branding” or “CSR” (corporate social responsibility) as a reason.

    Source : AIR | 01 Jan 2018
  • Indonesia: Reinsurance sector to grow more than 10% in 2018

    Prospects are upbeat for the reinsurance industry in Indonesia that saw premiums grow by 13% to IDR8.35 trillion (US$535 million) in the first nine months of this year, according to the Indonesian General Insurance Association (AAUI). For 2018, the reinsurance growth rate is forecast at 10% to 15%.

    Source : AIR | 01 Jan 2018
  • Indonesia: Motor premiums rise in 1H despite slow market

    Motor insurance premiums rose by 9% to IDR8.09 trillion (US$610 million) in Indonesia in the first half of this year, despite flat vehicle sales. This performance bucked that of the overall insurance market which saw total premiums fall by 4% to IDR29.1 trillion in the first six months of the year, according to the General Insurance Association of Indonesia (AAUI).

    Source : AIR | 01 Oct 2017
  • Growth is still the buzzword

    Indonesia is ripe with the potential to become a major insurance market with its huge population and buzzing economy. The industry and regulator are working hand-in-hand to boost the potential including through insurance awareness of the public and technical sophistication of the industry itself. Experts within Indonesia’s insurance industry chime in on the challenges that face them today and what the future has in store for the nation.

    Source : AIR | 01 Oct 2017
  • A Parade of Indonesia Rendezvous

    For 23 years now the Indonesia Rendezvous has been held as an annual affair come rain or shine except when Bali also hosted EAIC in 2012. This year, the Rendezvous plans to look at fraud management as a priority. We bring you a quick tour of the milestones of the Rendezvous.

    Source : AIR | 01 Oct 2017
  • Reinsurance maintains strong position

    Indonesia’s local reinsurance industry has grown significantly over the past two years, owing largely to protectionist regulations implemented by the Indonesian regulator. As the initial effect of the mandatory domestic cessions slows down, the industry continues its upward trend as Indonesian insurers close the protection gap.

    Source : AIR | 01 Oct 2018
  • Nat CAT- The 'calm' before the year-end storm

    While the conversation this time last year was about hurricanes Harvey and Irma, Asia at this time is reeling from losses far closer to home. As we go to print, Mother Nature is wreaking havoc across multiple countries - with typhoon Jebi, super typhoon Mangkhut and Kerala grapples with its worst floods in a century. We take stock of the Nat CAT—prior to the upcoming deluge.

    Source : AIR | 01 Oct 2018
  • Growth amid a rising economy

    Asia Insurance Review checks in with the Indonesian General Insurance Association (AAUI) about how the sector has performed over recent months.

    Source : AIR | 01 Oct 2018
  • Indonesia: The continuing battle against fraud

    With Mt Agung still threatening to erupt, delegates braved the risk to attend the Indonesia Rendezvous in Bali which has been held for 23 years now.

    Source : AIR | 01 Nov 2017
  • Indonesia: Country's first farm insurance scheme launched

    The government has launched the country’s first farm insurance programme to help farmers avoid losses from agricultural activities, Agriculture Minister Amran Sulaiman has announced.

    Source : AIR | 01 Nov 2017
  • Echo Re targeting more Asian business

    Dr Peter F Hugger is the man at the helm of Echo Re since February 2012. Having spent a considerable part of his 30-year professional life in Asia, with some of the top names in the reinsurance business, he is now ready to chart a new course for Echo Re in Asia, where the company already has a big presence and where he believes lies the opportunity for international players like his. He speaks to Asia Insurance Review on his new plans and strategy for the region, and the future ahead for his company.

    Source : AIR | 01 Dec 2017
  • Samsung Re: Expanding beyond group business

    Samsung Re has been keeping a low profile since its inception in 2011 but of late, the reinsurer has adopted a new strategy to expand its operations beyond its group business and into newer territories across Asia. We speak to Mr Tae Y Choi, CEO, Samsung Re at the SIRC, to find out the plans and strategies ahead for the company.

    Source : AIR | 01 Dec 2017
  • Indonesia: Life morbidity table to be developed

    Several major players in the Indonesian life market have signed a Memorandum of Understanding to develop the country’s first morbidity table.

    Source : AIR | 01 Dec 2017
  • Indonesia: Shortage of actuaries keenly felt

    The increase in the number of actuaries has failed to keep pace with the growth of the insurance industry in Indonesia, according to the Chairman of the Society of Actuaries of Indonesia (Persatuan Aktuaris Indonesia, PAI), Mr Rianto Ahmadi Djojosugito.

    Source : AIR | 01 Feb 2018
  • Asia: InsurTech investments surging strong

    InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.

    Source : AIR | 01 Mar 2018
  • Indonesia: Insurers expect more than US$420 mln from insuring state assets

    The potential premiums that can be generated from insuring state assets could reach IDR6 trillion (US$420 million) to IDR8 trillion, estimates the General Insurance Association of Indonesia (AAUI).

    Source : AIR | 01 Mar 2018
  • CII aims to help bridge Indonesia's 'Insurance Gap''

    The Chartered Insurance Institute highlighted the opportunity Indonesia’s ‘Insurance Gap’ presents to the insurance profession in Indonesia, if it can build greater capacity and awareness.

    Source : AIR | 01 Mar 2018
  • Indonesia: WanaArtha Life on infrastructure development funding through PPP

    As a member of the Indonesia Business Working Group under the World Economic Forum, WanaArtha Life hopes to ease the flow of insurance funds into infrastructure projects in the country.

    Source : AIR | 01 Mar 2018
  • Thailand: Muang Thai Life eyes expansion beyond Indochina

    Muang Thai Group, which is a holding company of Muang Thai Life Assurance, has set aside a budget of more than THB1 billion (US$31.6 million) a year from 2018-22 to expand its investments in new operations that relate to digital and insurance businesses, including startup ventures, said Mr Sara Lamsam, Muang Thai Life Assurance’s President and CEO. He is also a director of Muang Thai Group Holding. 

    Source : AIR | 01 Mar 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

    Source : AIR | 01 Mar 2018
  • Indonesia: Ideal to have 1 mln agents to serve a population of 250 mln

    The potential of the agency distribution channel is huge, said the Indonesian Life Insurance Association (AAJI) which has pointed out that the total population of Indonesia which exceeds 250 million would ideally require one million agents to serve it.

    Source : AIR | 01 Apr 2018
  • Product Bytes

    Source : AIR | 01 Apr 2018
  • Indonesia: Non-life market forecast to grow by 5% in 2018

    The General Insurance Association of Indonesia has predicted that non-life premiums would grow by at least 5% this year, based on robust performance seen in the early months of the year.

    Source : AIR | 01 May 2018
  • Banc-ing on life growth

    Bancassurance attracts some of the biggest insurers and banks with its allure of a strategic win-win, faster growth and scale economies – we look at the state of bancassurance in some Asian markets.

    Source : AIR | 01 May 2018
  • Indonesia: OJK issues new rules on insurance admin sanctions

    The Financial Services Authority (OJK) has issued guidelines on administrative sanctions in the insurance sector and freezing of assets of insurance companies, takaful companies, reinsurers and retakaful companies that became effective on 25 April 2017. 

    Source : AIR | 01 Jun 2017
  • Indonesia: Protection life sales predicted to be flat this year

    Sales of traditional life insurance products are predicted to be flat this year, the Indonesian Life Insurance Association (AAJI) has projected. Premiums from this segment are expected to grow marginally or remain at around the 2017 level. 

    Source : AIR | 01 Jun 2018
  • Using technology to close Indonesia's health protection gap

    As is the case with many rapidly developing economies, Indonesia’s phenomenal growth may come with both opportunities and challenges.

    Source : AIR | 01 Jun 2019
  • Straight-through winning

    Although bancassurance remains a compelling proposition for both insurers and banks, it is not cushioned from the impact of disruptive technology that is buffeting the industry. Here are key takeaways from the 18th Asia Conference on Bancassurance & Alternative Distribution Channels.

    Source : AIR | 01 Jul 2017
  • Indonesia: Higher concentration risk for insurers

    Recent regulations requiring insurers to cede risks to domestic reinsurers has led to a change in the counterparty risk landscape for a number of insurers, said reinsurance advisory firm JLT Re. 

    Source : AIR | 01 Jul 2017
  • Indonesia: Life insurers favour stocks and mutual funds in investment

    Stock and mutual funds will still be the main investment choice of life insurers, with the Indonesian Life Insurance Association (AAJI) optimistic that both instruments will perform well this year.

    Source : AIR | 01 Jul 2018
  • Where does the pursuit of digitalisation lead?

    The insurance industry’s pursuit of digitalisation continues even as the hype around disruptors fades. But where are insurers’ investment dollars being channelled and what exactly are they looking to achieve? Are some parts of the insurance value chain more equal than others? 

    Source : AIR | 01 Jul 2018
  • Could some Asian cities end up underwater soon?

    Several Asian coastal cities face the twin threats of rising sea levels and land subsidence due to over-exploitation of groundwater. Plans are afoot to relocate fast-sinking cities like Jakarta.

    Source : AIR | 01 Jul 2019
  • Indonesia: Pick up in car sales a boon for motor insurers

    Vehicle insurance premiums increased by 16.9% to IDR4.79tn ($333bn) in 1Q2018 compared to the corresponding quarter last year, the General Insurance Association of Indonesia (AAUI) has disclosed.

    Source : AIR | 01 Aug 2018
  • Indonesia: Regulator mulls ways to extend microinsurance reach

    Inadequate market reach is one constraint on the development of microinsurance in Indonesia, given the size of the country and its scattered islands, according to the Financial Services Authority (OJK).

    Source : AIR | 01 Sep 2017
  • Indonesia: Commodities fuel heavy vehicle insurance

    The commodity sector in Indonesia, which has revived since the end of last year, has brought blessings to heavy vehicle insurance. This is due to the growth of financing in the heavy equipment sector.

    Source : AIR | 01 Sep 2018
  • Indonesia: Green financing gets leg up via IFC's Bank OCBC NISP investment

    Green financing in Indonesia to combat climate change has received a boost, with the International Finance Corporation (IFC), the private sector arm of the World Bank Group, committing $150m in a green bond issued by Bank OCBC NISP.

    Source : AIR | 01 Sep 2018