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.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsLife insurance books meager growth: Association
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Customers speak to staff members of insurance company PT Asuransi Jiwa Manulife Indonesia. (Courtesy of/cdn-kisikisi.jobs.id)
T
he Indonesian Life Insurance Association (AAJI) has said domestic life insurers booked a combined total revenue of Rp 140.94 trillion (US$9.7 billion) in the first three quarters of this year, 1.2 percent higher than the Rp 139.27 trillion booked in the same period last year.
AAJI chairman Wiroyo Karsono told reporters at a press conference over the weekend that 97 percent, worth Rp 136.71 trillion, of the total revenue came from insurance premiums.
“The life insurance industry continues to grow and plays a significant role in supporting national economic development,” he said as reported by kompas.com.
Unit-linked insurance plans, which combine insurance and investment under one plan, were more popular with a 58.4 percent contribution to total premium revenue, compared to conventional plans, which contributed 41.6 percent.
Meanwhile, medical claims were recorded at Rp 7.05 trillion, a 3.2 percent increase compared to the same period last year.
Wiroyo attributed the increase to a 6.9 percent increase in individual insurance and a 0.1 percent increase in group insurance. However, group insurance remained the largest contributor (53.3 percent) to total medical claims, while individual insurance contributed 46.7 percent.Only 25 percent of adults, out of a population of 265 million, have insurance in Indonesia. (nor/bbn)
