Indonesian non life market

The global economic crisis and intense competition in the domestic market has slowed premium growth in Indonesia. However, it is hoped the delayed impact of the government’s $6bn economic stimulus programme in 2009 will help insulate the market against some of the economic uncertainties

THERE were 82 insurers and reinsurers active in the Indonesian non-life market in 2009, compared with 84 in 2008, 94 in 2007 and 101 in 2004. Of these, three were state-owned companies, 61 national private companies, 17 joint ventures with foreign interests and one special risks company (Maipark).