Indonesia

Endowment insurance is forecasted to decline by 7.0% in 2024.

The initiative provided floating hospitals to remote islands in the country.

Fitch expects finco sector receivables to grow at a high-single-digit rate in 2024.

The event gathers insurance professionals from across Asia, exploring the evolving realms of risk management, technology, regulations, and customer engagement.

The broker was able to obtain approval from the authority.

bolttech completed the acquisition of the majority stake in Axle Asia in late 2022.

The insurer holds a 3% market share in Indonesia’s non-life industry, as of 2023.

Its licence is effective immediately.

Risks are shared and covered collectively by all Participants (Takaful) to mutually help one another.

As of November 2023, the bancassurance channel contributed 81% of BRI Life’s total premium revenue.

The partnership hopes to cover 99% of Indonesia’s districts. 

Total capital raised to date surpasses $130m.

The low level of Sharia financial literacy and inclusion has driven companies to implement both short-term and long-term measures.

The collaboration will facilitate LGI's introduction of BBI products in Indonesia.

Its investment portfolio is moderately risky, mainly comprising domestically rated bond funds.

Fitch Ratings forecasts a growth rate of 5% to 10% for 2024.