JAKARTA (Yosefardi) – PT Astra International Tbk (ASII) and Aviva Plc set up new life insurance company, PT Astra Aviva Life. Astra and Aviva hold 50% ownership each on the life insurer.
Indonesia is a prospect market for insurance industry with 245 million people, the biggest fourth in the world, and 5-6% growth in economy.
The life insurance also grows fastly in Indonesia but the penetration is still low. For 2002-2012 period, the Compound Annual Growth Rate (CAGR) of premium for life insurance grew by 25%.