According to the Indonesia Insurance Statistics published by the Financial Services Authority, the Indonesian life insurance industry moved from making a loss (before tax and other comprehensive income) at Q2 YTD 2019 to making a profit at Q2 YTD 2020. The Indonesian Life Insurance Association (AAJI) reported that the industry experienced a decrease in new business premium of 2.7% from IDR 54.57 trillion at Q2 YTD 2019 to IDR 53.12 trillion at Q2 YTD 2020. The AAJI stated that IDR 216.02 billion had been paid in claims related to COVID-19 as at 30 June 2020.
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Indonesia Life Insurance Newsletter: Third Quarter 2020
Developments in the Indonesian life insurance industry during the period from 1 July 2020 to 30 September 2020.
Brian Colgan, David Kong, Halim Gunawan, Richard Holloway