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New Market Study: "Emerging Market and Investment Opportunities in the Indonesian Motor Insurance Industry to 2016"

New Financial Services market report from BRICdata: "Emerging Market and Investment Opportunities in the Indonesian Motor Insurance Industry to 2016"

 

Williamstown, MA -- (SBWIRE) -- 05/07/2012 -- The Indonesian motor insurance category grew during the review period. There are positive growth prospects for the Indonesian motor insurance category, which are being supported by the country's favorable macroeconomic fundamentals. The number of automobile sales in the country is expected to increase during the forecast period, which will generate a larger customer base for Indonesian motor insurance. The volume of motor insurance policies sold in Indonesia recorded robust growth, at a CAGR of 24.36% during the review period. The number of motor insurance policies sold is expected to increase at a CAGR of 10.33% over the forecast period.

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The Capital Market and Financial Institution Advisory Agency (BAPEPAM-LK) has placed a strict capital requirement on insurance companies in Indonesia and companies that fail to meet regulations will be penalized. The new regulation by BAPEPAM-LK is designed to strengthen the Indonesian motor insurance category and bring in some consolidation.

Key Highlights

- The motor insurance category in Indonesia recorded robust sales during the review period, supported by strong growth in automobile sales. The number of policies sold in the Indonesian motor insurance category increased at a CAGR of 24.36% during the review period.
- The category is projected to grow at a CAGR of 10.33% over the forecast period to reach volume sales of 25.1 million in 2016. Third-party motor insurance, which is compulsory in Indonesia, is expected to drive demand for motor insurance in the country.
- The Capital Market and Financial Institution Advisory Agency (BAPEPAM-LK) has placed a strict capital requirement on insurance companies in Indonesia and companies that fail to meet the above regulation will be penalized. The new regulation by BAPEPAM-LK is designed to strengthen the Indonesian motor insurance category and bring in some consolidation.
- Insurance companies in Indonesia are increasingly entering into agreements with banks in order to sell motor insurance products.
- The motor insurance category in Indonesia is fairly fragmented, with Astra Insurance accounting for the highest proportion of total premiums earned. Overall, the ten leading companies account for a combined market share of 70%.

Scope

This report provides a comprehensive analysis of the motor insurance industry in Indonesia:

- It provides historical values for the Indonesian motor 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 markets in the Indonesian motor insurance industry, along with market forecasts until 2016
- It details the different macroeconomic factors affecting the motor insurance industry in Indonesia
- It covers an exhaustive summary on the key trends and drivers affecting the Indonesian motor insurance industry

Companies Mentioned in this Report: PT Asuransi Astra Buana, PT Asuransi Sinar Mas, PT Asuransi Adira Dinamika, PT Asuransi Central Asia, PT Asuransi Jaya Proteksi, PT Asuransi Jasa Indonesia (Persero), PT Asuransi Raksa Pratikara, PT Asuransi Wahana Tata, PT Asuransi Allianz Utama Indonesia, PT Asuransi Multi Artha Guna

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