Tugu Reasuransi Indonesia (Tugure) is partnering with its holding company, Asuransi Tugu Pratama Indonesia (Tugu Insurance), to expand its business network to the international market.
The Financial Services Authority (OJK) has issued a regulation on the implementation of risk management in the use of information technology by non-bank financial institutions (NBFIs), including insurance companies.
Travel insurance business has remained small since the beginning of this year because of the impact of the ongoing COVID-19 pandemic, Christian Wirawan Wanandi, the president director of Asuransi Wahana Tata (Aswata), has said.
Indonesia-based omnichannel InsurTech Qoala has made a strategic acquisition of FairDee, a Thai InsurTech, with the new partnership further expanding Qoala's reach in Southeast Asia.
The Indonesian Shariah Insurance Association (AASI) says that it fully supports the establishment of a guarantor institution for policyholders in Indonesia.
The Financial Services Authority (OJK) has said that 12 insurance companies have obtained a licence to sell unit-linked insurance products (PAYDI) online.
The Indonesian Life Insurance Association (AAJI) is expecting life premium income in the country to expand by double digits this year.
The takaful segment in Indonesia accounted for 7% of the country's overall insurance market - in terms of new business premiums - in the first 11 months of 2020 (11M20), compared to 5.9% in the previous corresponding period.
Several insurance companies are busy processing claims for losses suffered in floods that occurred at the beginning of this year.