1、jfeinIndonesiaWe are pleased to present the March 2021 editionTABLE OF CONTENTSof Millimans Indonesia Life Insurance Newsletter.Market performance2This edition covers developments during the period2Market newsfrom 1 October 2020 to 31 December 2020.Regulatory developmentsWe trust you find this editi
2、on informative. AsDistribution updatesalways,we look forward to receiving your feedback,Other recent developments5questions or comments.Richard HolowayBrian ColganDavid KongManaging DirectorouHeadofLifeInsuranceCountryManagerConsultingActuaryEast Asia&IndiaLifeConsulting,IdonesfaIndonesiaSingapore,L
3、ifeMarch2021#page#MILLIMAN INDONESIA LIFE INSURANGThe Indonesia Life Insurance Association (AAJI) reported thaMarket performancenew business premium was IDR 80.13 trilion as at Q3 YTD2020 with new business and renewal premiums contracting byINDUSTRY PERFORMANCEATQ3YTD 202011.5%and 1.9% respectively
4、compared to Q3 YTD 2019According to the Indonesia Insurance Statistics published byFurthermore,the AAJIstated that thelargest portionofclaimsthe Financial Sernvices Authority (OJK),the Indonesian Iifepaidas at 30 September 2020 were from surender claimsinsuranceindustry made a profit (before taxando
5、theramounting to IDR 67.45 prehensive income OCI) in Q3 YTD 2020.turning aroundaloss in the equivalent period in Q3 YTD 2019. The changeMarket newsover the period is summarised belowNEW PRODUCTSQ3YTD2019Q3 YTD 2020Changehave been launchedover Q42020131.69115.65(16.04)Net Prer13215.0713.74Traditional
6、 productsPT AXA Financial Indonesia(AXA Financial made its133.01130.71(2.30)Total lexisting product targeted at affluent customers,MaestroInfinite Protectionavailable in US dollars.With premium1065199.15(7.35)starting from USD 3,600 per annum, policyholders areBenefitsentitled to a sum assured of at