Growth of non-life insurance premiums in Indonesia

AllianzAccording to the Indonesian insurers' association (AAUI), the Indonesian non-life insurance market reported a turnover of 69.9 trillion IDR (4.8 billion USD) in 2018, an increase of 9.8% over one year.

All business lines posted a positive evolution except marine, ship hull, energy and accident insurance. Claims rose by 8.1% at 30.1 trillion IDR (2.1 billion USD) in 2018. Claims also grew in all classes of business with the exception of marine, cargo, energy, engineering and third party liability, according to Trinita Situmeang, Deputy Chairperson of AAUI.

Both motor insurance and property damage insurance generated more than half of the premiums. They amounted respectively to 18.67 trillion IDR (1.2 billion USD) and 19.03 trillion IDR (1.31 billion USD) in 2018.

The growth of motor insurance premiums was accounted for by the increase in vehicle sales. The sales of the two-wheeled vehicles increased by 8.44% to reach 6.38 million units. The sales of cars grew by 6.74% at 1.15 million units in 2018.

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