Jumat 03 May 2013 22:41 WIB

Indonesian life insurance grows 20.4 percent in 2012

Rep: Friska Yolandha/Mutia Ramadhani/ Red: Yeyen Rostiyani
The growing middle class in Indonesia provides a huge opportunity for life insurance growth. (illustration)
Foto: Antara/Zabur Karuru
The growing middle class in Indonesia provides a huge opportunity for life insurance growth. (illustration)

REPUBLIKA.CO.ID, JAKARTA - Indonesian Life Insurance Association (AAJI) recorded growth of its members by 20.4 percent in 2012. The total revenue reached 133.15 trillion IDR and 80 percent of total revenue was contributed from premium income.

Premium income reached 107.73 trillion IDR or grew by 14.38 percent, driven by all lines of insurance distribution. Head of Actuarial and Research at AAJI, Maryoso said that agency distribution channel accounted for 38.3 percent of premium income, while bancassurance (partnership between bank and insurance company) accounted 40.4 percent of total premiums. 

"New business accounted for almost 70 percent of total premium income or grew by 11.28 percent at 75.01 trillion IDR," Maryoso said on Friday. Half of them were traditional insurance, while others were insurance-based investments (unit-linked).

AAJI noted an increase in individual policyholders up to 22.14 percent or 10.98 million people. The future of life insurance in Indonesia is still wide open. Strong economic growth which is combined with rising saving rates and the growing of middle class are good signs for life insurance growth.

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Yuk Ngaji Hari Ini
۞ وَلَقَدْ اَخَذَ اللّٰهُ مِيْثَاقَ بَنِيْٓ اِسْرَاۤءِيْلَۚ وَبَعَثْنَا مِنْهُمُ اثْنَيْ عَشَرَ نَقِيْبًاۗ وَقَالَ اللّٰهُ اِنِّيْ مَعَكُمْ ۗ لَىِٕنْ اَقَمْتُمُ الصَّلٰوةَ وَاٰتَيْتُمُ الزَّكٰوةَ وَاٰمَنْتُمْ بِرُسُلِيْ وَعَزَّرْتُمُوْهُمْ وَاَقْرَضْتُمُ اللّٰهَ قَرْضًا حَسَنًا لَّاُكَفِّرَنَّ عَنْكُمْ سَيِّاٰتِكُمْ وَلَاُدْخِلَنَّكُمْ جَنّٰتٍ تَجْرِيْ مِنْ تَحْتِهَا الْاَنْهٰرُۚ فَمَنْ كَفَرَ بَعْدَ ذٰلِكَ مِنْكُمْ فَقَدْ ضَلَّ سَوَاۤءَ السَّبِيْلِ
Dan sungguh, Allah telah mengambil perjanjian dari Bani Israil dan Kami telah mengangkat dua belas orang pemimpin di antara mereka. Dan Allah berfirman, “Aku bersamamu.” Sungguh, jika kamu melaksanakan salat dan menunaikan zakat serta beriman kepada rasul-rasul-Ku dan kamu bantu mereka dan kamu pinjamkan kepada Allah pinjaman yang baik, pasti akan Aku hapus kesalahan-kesalahanmu, dan pasti akan Aku masukkan ke dalam surga yang mengalir di bawahnya sungai-sungai. Tetapi barangsiapa kafir di antaramu setelah itu, maka sesungguhnya dia telah tersesat dari jalan yang lurus.”

(QS. Al-Ma'idah ayat 12)
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