Summary
Life Insurance in Indonesia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Indonesian life insurance market had total gross written premiums of $14.2 billion in 2022, representing a compound annual growth rate (CAGR) of -0.9% between 2017 and 2022.
- The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $11.4 billion, equivalent to 80% of the market's overall value.
- Looking forward, the market is expected to grow at a moderate rate with a CAGR of 8.0% from 2022 to 2027.On July 20 and 21, 2022, the BI Board of Governors Meeting decided to keep the BI 7-Day Reverse Repo Rate at 3.50% while also keeping the rates for the Deposit Facility (DF) and Lending Facility (LF) at 2.75% and 4.25%, respectively. The performance of the market is forecast to accelerate, with an anticipated CAGR of 8% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $20.9billion by the end of 2027.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Indonesia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Indonesia
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Indonesia life insurance market with five year forecasts
Reasons to Buy
- What was the size of the Indonesia life insurance market by value in 2022?
- What will be the size of the Indonesia life insurance market in 2027?
- What factors are affecting the strength of competition in the Indonesia life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Indonesia's life insurance market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What are the strengths of leading players?
7.5. What has been the rationale behind recent M&A activity?
8 Company Profiles
8.1. AIA Group Ltd
8.2. Allianz SE
8.3. PT Prudential Life Assurance
8.4. PT Asuransi Simas Jiwa
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Indonesia life insurance market value: $ billion, 2017-22(e)
Table 2: Indonesia life insurance market category segmentation: % share, by value, 2017–2022(e)
Table 3: Indonesia life insurance market category segmentation: $ billion, 2017-2022
Table 4: Indonesia life insurance market geography segmentation: $ billion, 2022(e)
Table 5: Indonesia life insurance market value forecast: $ billion, 2022-27
Table 6: Indonesia life insurance market share: % share, by value, 2022(e)
Table 7: AIA Group Ltd: key facts
Table 8: AIA Group Ltd: Annual Financial Ratios
Table 9: AIA Group Ltd: Key Employees
Table 10: AIA Group Ltd: Key Employees Continued
Table 11: Allianz SE: key facts
Table 12: Allianz SE: Annual Financial Ratios
Table 13: Allianz SE: Key Employees
Table 14: Allianz SE: Key Employees Continued
Table 15: PT Prudential Life Assurance: key facts
Table 16: PT Prudential Life Assurance: Key Employees
Table 17: PT Asuransi Simas Jiwa: key facts
Table 18: PT Asuransi Simas Jiwa: Key Employees
Table 19: Indonesia size of population (million), 2018–22
Table 20: Indonesia gdp (constant 2005 prices, $ billion), 2018–22
Table 21: Indonesia gdp (current prices, $ billion), 2018–22
Table 22: Indonesia inflation, 2018–22
Table 23: Indonesia consumer price index (absolute), 2018–22
Table 24: Indonesia exchange rate, 2016–20
List of Figures
Figure 1: Indonesia life insurance market value: $ billion, 2017-22(e)
Figure 2: Indonesia life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Indonesia life insurance market geography segmentation: % share, by value, 2022(e)
Figure 4: Indonesia life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in Indonesia, 2022
Figure 6: Drivers of buyer power in the life insurance market in Indonesia, 2022
Figure 7: Drivers of supplier power in the life insurance market in Indonesia, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Indonesia, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Indonesia, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in Indonesia, 2022
Figure 11: Indonesia life insurance market share: % share, by value, 2022(e)
