INDONESIAN LIFE SECTOR GROWS WELL IN Q1

Indonesia’s life assurance industry showed considerable growth in the first quarter. Total premium revenue was up by 62% to 8.65tn rupiah ($960m), from 5.35tn rupiah in the same period last year. Eddy Berutu, executive director of the Indonesian Life Insurance Association, said that the increase was due to a 967% increase in revenue from new customers. He claimed that the country’s economic situation was getting better and that people were now more aware of the importance of life cover. “Therefore, people can now set aside more of their money to pay for insurance premiums”.