Life Insurance Indonesia Market Share. Ojk grants life insurance adisarana wanaartha license to set up sharia unit; Total number of life insurance companies in indonesia from 2013 to 2019. chart.
While many market publications focus on market data and the penetration statistics supporting growth opportunity, our survey presents the views of actual executives of top insurance companies in the market on a range of issues relevant to the industry. Such low penetration allows life insurers in indonesia to compete for market segments and geography, rather than use price to lure away other companies’ customers. However, some mature markets have struggled as their populations age and consumer expectations shift.
However, some mature markets have struggled as their populations age and consumer expectations shift.
Life insurance penetration in indonesia is only 1.5 percent, much lower than other emerging asia markets such as india where penetration is about 3 percent. Prudential indonesia was the market leader in the life insurance industry in 2019. In the life insurance segment in particular considering the low penetration of insurance coverage and the young demographics of the population. Jasindo (a soe), asuransi astra and asuransi sinar mas (both owned by large diversified indonesian conglomerates) are the