PEFINDO is of the view that the outlook of general insurance industry is stable in the near to medium term, highlighted by the improvement of business environment amid the recovering economic
after pandemic, as premiums and claims gradually return to normal levels. As of June 30, 2022 (1H2022), the gross premium grew by 20.0% YoY (year on year), at IDR46.0 trillion in 1H2022 from IDR38.4 trillion in 1H2021, which mostly came from property, motor
vehicle and credit insurance segments, the three largest contributors. In line with growing premiums, gross claims have also increased to IDR17.8 trillion from IDR13.1 trillion at the same period or growing by 35.7%, a higher rate than that of premiums but
from a much lower base, mainly derived from credit insurance, property, and health insurance segments. More detail ...