Indonesia Life Insurance Newsletter, June 2016

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By Iwan Juwono, Halim Gunawan, Richard W. Holloway | 20 June 2016
According to the 2015 market statistics released by the Indonesia Life Insurance Association, the life insurance market in Indonesia experienced a modest growth in weighted new business premium of 4% in 2015 after a decline of 3% in 2014. Over the five-year period from 2011 to 2015, the industry experienced a compounded growth of weighted new business premium of 7.2%. In terms of market share, Prudential Life Assurance remains the leading player with a market share of 21% of weighted new business premium in 2015. Distribution of life insurance in 2015 continued to be dominated by the agency channel and bancassurance.