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Indonesia tag returned 359 results

  • FWD Group completes investment in BRI Life Indonesia

    FWD Group ("FWD") announced that it has completed its investment in a significant minority stake in PT Asuransi BRI Life ("BRI Life"), the life insurance arm of PT Bank Rakyat Indonesia (Persero) Tbk ("BRI"). As part of this investment, BRI Life has entered into a long-term life insurance distribution agreement with BRI.

    Agents | 03 Mar 2021
  • Indonesia: MAIPARK reports ROE of 15% in 2020, above 3-year average

    Reasuransi MAIPARK Indonesia was profitable with a return on equity of 15% in 2020 (unaudited) (three-year average: 12%) due to prudent underwriting practices, satisfactory investment results and a strong retrocession programme, notes Fitch Ratings Indonesia.

    Asia | 26 Feb 2021
  • Great Eastern Holdings reports 23% higher total weighted new sales in FY2020, boosted by strong sales growth from agency channel

    Great Eastern Holdings' total weighted new sales (TWNS) rose 23% y-o-y to S$1,545.3 million (US$1,172.2 million), according to its financial results for year ended 31 December 2020.

    Agents | 24 Feb 2021
  • Indonesia: ASABRI estimated to have incurred investment losses of US$1.65bn

    ASABRI, the state-owned insurance company that serves members of the Indonesian military and police, has suffered investment losses estimated at IDR23tn ($1.65bn).

    Asia | 16 Feb 2021
  • Indonesia: Nat CAT insurance take-up inches slowly upwards

    Public awareness of natural disaster insurance has improved but the increase in penetration was marginal only over the past year, according to the chairman of the Indonesian General Insurance Association (AAUI), Mr Hastanto SM Widodo.

    Asia | 12 Feb 2021
  • Indonesia: Rules drafted for marketing unit-linked plans by general insurers

    Around 10 general insurance companies are ready to market unit-linked insurance products (PAYDI), as they intensify preparations to meet requirements outlined in draft regulations that would allow them to sell such plans, according to the chairman of the Indonesian General Insurance Association (AAUI), Mr Hastanto Sri Margi Widodo.

    Asia | 10 Feb 2021
  • Indonesia: General insurers await approval to sell unit-linked products

    The Indonesian general insurance industry is expected to obtain approval shortly to market investment-linked insurance products (PAYDI), when it would pose competition to the life insurance sector which currently is the only segment selling the plans.

    Asia | 09 Feb 2021
  • Indonesia: IFC invests US$5m in PasarPolis

    The International Finance Corporation (IFC), a part of the World Bank Group that focuses on accelerating financial inclusion and literacy in various developing countries, has officially become an investor in PasarPolis, according to a statement issued by the Indonesian InsurTech company yesterday. PasarPolis raised $5m in equity finance from IFC.

    Asia | 05 Feb 2021
  • Indonesia: COVID-19 life insurance claim payouts exceed US$45m

    The life insurance industry has paid claims totalling IDR642.9bn ($45.9m) due to COVID-19 as of October 2020, according to data from the Indonesian Life Insurance Association (AAJI).

    Asia | 03 Feb 2021
  • Indonesia: Reinsurer expected to maintain selective underwriting

    Tugu Reasuransi Indonesia's (Tugure) non-life combined ratio stood at 105.7% by end-2020, higher than the 103.2% by end-2019, notes Fitch Ratings. The increase was due to lower premiums, higher claim payments following floods that hit Jakarta in early 2020 and claim increases in the health business due to the pandemic.

    Asia | 29 Jan 2021

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