Indonesia's general insurance sector is changing and reflecting the transformation of the country in terms of business maturity and consumer lifestyles. This section looks at some of the current opportunities to be found in the burgeoning industry.
Although Indonesia's banking and financial-services sector is indeed growing along with its economy, Islamic banking represents only a small portion of the overall financial sector. This section looks at the main developments of the sector and some of the key opportunities within it.
Indonesia’s transition from a state funded health care system to one based on insurance and state contributions for the poor has opened up significant opportunities for the private insurance sector. This section provides an overview of the health insurance sector.
Despite the encouraging performance of Indonesia’s capital markets over recent years, the participation of domestic investors still pales in comparison to that of foreigners. This section looks at steps being taken to educate the public and widen the local investor base.
Indonesia’s banking sector is attracting global investor interest; this section looks at the strategic approaches that can be taken to enter the industry by covering the main laws and regulations, as well as the pros and cons of differing methods of entry.
Contribution to GDP: 3% (2011)
Real Sector Growth: 22%
Number of Commercial Banks: 120; 4 State/Partially State Owned, 10 Foreign, 14 Joint Ventures, 31 Non Foreign Exchange, 26 Private Export-Import, 26 Regional Development Banks.
Number of Islamic Banks & Units: 11 Banks, 23 Units
Total Assets: $400 billion USD (2011)
Government Bodies: Bank Indonesia, Ministry of Finance. BAPEPAM-LK, Financial Services Authority (OJK).
Relevant Law: Bank Indonesia Regulation No. 14/2012 on Share
Ownership in Commercial Banks.