Investments

Indonesian life sector sees 28% jump in premiums in Q1 2017

Premiums in the Indonesian life insurance industry increased by just over 28% to IDR35.19 trillion (USD2.64 billion) in the first quarter of 2017, compared with the corresponding quarter last year.

This is according to media reports of data from the Financial Services Authority (OJK).

The equivalent quarter in 2016 saw growth in life premiums of 24%.

Reports said that expectations are that the government's infrastructure development programme will have a positive impact on the economy of the surrounding regions.

It is understood that less than 5% of the total population of Indonesia have life insurance.