TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Life insurers enjoy stellar growth in Q3
Change Size
Good times: Indonesia Life Insurance Association (AAJI) chairman Hendrisman Rahim (center), communication and inter-institution division head Christine Setyabudhi (left) and communication head Nini Sumohandoyo converse after a press conference on Friday to announce the performance of the industry in the third quarter. (JP/Winny Tang)
T
he life insurance industry booked total revenue of Rp 158.65 trillion (US$11.8 billion) in the third quarter of this year, rising significantly by 78.1 percent from the corresponding period last year, with premium income serving as the main growth driver.
Indonesian Life Insurance Association (AAJI) chairman Hendrisman Rahim said Friday the firm’s premium income had increased by 15.1 percent year-on-year to Rp 116.06 trillion in the third quarter.
Hendrisman said the surge in total revenue indicated that the national life insurance industry was still growing despite sluggish macroeconomic conditions this year.
Up to the third quarter, 42 percent of the total premium income came from bancassurance distribution channels, 39 percent from sales agents and the remainder from various channels, including telemarketing.
“There were many purchases of single premium [products] through bancassurance,” AAJI communication head Nini Sumohandoyo said, referring to a partnership between a bank and an insurance company in offering insurance products. (win/hwa)
