Research and Markets Offers Report: Market Attractiveness and Future Prospects of the Indonesian Takaful Insurance Industry

Research and Markets has announced the addition of the "Market Attractiveness and Future Prospects of the Indonesian Takaful Insurance Industry" report to its offerings.

In a release, Research and Markets noted that report highlights include:

The industry recovered from 2012 and gross written premium registered significant growth during 2012-2014. 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 percent. The emerging middle class, improvements in the life segment's performance, an increase in interest from international investors, rising domestic consumption, product innovation and the adoption of alternative distribution channels supported the growth of the Indonesian takaful industry during the review period. Merger and acquisition (M&A) activity is expected to rise over the forecast period (2013-2018), as most existing insurers are unable to meet the minimum capital requirement set by the insurance regulator, Otoritas Jasa Keuangan (OJK).

Key Highlights

-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 percent

-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 percent 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 percent 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

Companies Mentioned

-Prudential

-Allianz

-Manulife

-AXA

-PT Asuransi Takaful Keluarga

Report information:

http://www.researchandmarkets.com/research/bgm67s/market