Indonesian Life Insurance Segment Emerged as One of the Fastest Growing in the Southeast Asia Region

Date: 2015-09-17

“•The industry’s written premium value has almost tripled in 2013, as compared to the written premiums in 2009 at a review-period (2009–2013) compound annual growth rate (CAGR) of 43.7%

• The Indonesian life insurance segment emerged as one of the fastest growing in the Southeast Asia region. According to the statistics released by the Indonesia Life Insurance Association (AAJI), the takaful life segment grew at a CAGR of 53.5% during the review period

• Indonesia is one of the fastest-growing internet markets in Southeast Asia. According to the World Bank, internet penetration in Indonesia reached 28.8% of the total population in 2013

• The government of Indonesia introduced a compulsory health insurance scheme, BPJS Kesehatan in 2013, aiming to cover all Indonesians by 2019

• The Insurance Regulatory Authority (IRA) is responsible for the regulation of the Indonesian takaful insurance industry”

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