Boston, MA -- (SBWire) -- 12/24/2012 --Indonesia is emerging as a significant Takaful industry, overtaking several of the GCC countries in terms of growth rate in gross written premiums generated. Relatively low penetration rates coupled with strong macroeconomic fundamentals, favorable demographics and an improved regulatory framework has contributed to the dynamic growth of the industry. The increasing presence of both domestic and international Takaful insurance companies also supported the industry's overall growth during the review period.
Key Highlights
- The Indonesian Takaful insurance industry recorded strong growth during the review period (2007-2011).
- Strong macroeconomic fundamentals and favorable demographics have driven the consumer demand for Takaful insurance products.
- The life, or family Takaful, segment is the dominant segment in Indonesia's Takaful industry.
- There is a strong presence of both domestic and foreign Takaful insurers in the form of either full-fledged or window companies.
- Improved regulatory frameworks in the Indonesian Takaful insurance industry help in bringing financial stability to the industry and increase consumer confidence.
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Scope
This report provides a comprehensive analysis of the Takaful insurance industry in Indonesia:
- It provides historical values for the Indonesian Takaful insurance industry for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Indonesian Takaful insurance industry, along with industry forecasts until 2016
- It covers an exhaustive list of parameters, including gross written premium, premium per capita, number of active policies, insurance penetration (percentage of GDP), paid claims, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, investments, total investment income and retentions
- It outlines the key regulations affecting the overall Indonesian Takaful insurance industry
Reasons to Get this Report
- Make strategic business decisions using in depth, historic and forecast industry data related to the Indonesian Takaful insurance industry and each segment within it
- Understand the demand-side dynamics, key industry trends and growth opportunities within the Indonesian Takaful insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Indonesian Takaful insurance industry and its impact on companies and the industry's future
Companies Mentioned in this Report: Prudential, Allianz, Manulife, AXA, PT Asuransi Takaful Keluarga
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