Growth of Insurance Premiums Down

Growth in general insurance premiums are expected to fall due to global crisis. This is due to decreased customer growth, particularly from the corporate level. As a result, insurance companies must change the distribution and target customers.

This condition is not much different from the growth of insurance premiums nationally. Based on data from the Chairman of the Indonesian General Insurance Association, a national insurance premium growth in 2007 amounted to 13.59 percent, then rose in 2008 to 21.88 percent. In the year 2009,

Effects of corporate crisis also impacted on the growth of insurance premiums. Moreover, most customers come from general insurance company,
Due to the global crisis, the growth of insurance premiums in the period from January to May 2009 only reached 19 percent or lower than the premium growth in the previous year which reached 50 percent.