According to the Indonesian Insurance Statistics published by the Financial Services Authority, the Indonesian life insurance industry achieved double-digit growth in 2017. Last year, the industry recorded a net premium of IDR 232.06 trillion, a 44% growth year-on-year over 2016. Total assets grew 30% year-on-year to IDR 512.95 trillion. Milliman’s Richard Holloway, Halim Gunawan, and David Kong offer more perspective in the latest Indonesia Life Insurance Newsletter.
Solvency II came into effect on 1 January 2016 and introduced a number of disclosure requirements for European insurers. Under the new requirements, the majority of European insurers were required to publish detailed Solvency and Financial Condition Reports for the first time in May 2017. This analysis of the European life insurance market by Milliman’s Marcin Krzykowski and Jarosław Lech covers 200 companies from 13 countries, representing approximately €475 billion in gross written premium and approximately €4,700 billion of gross technical provisions.
In May 2017, the first Solvency and Financial Condition Reports (SFCRs) were published for year-end 2016. This report by Milliman consultants provides a summary of key solvency information related to various life and non-life insurance entities in the Netherlands based on their SFCRs. The report also focuses on the largest consolidated insurance groups.
According to the Indonesia Insurance Statistics published by the Financial Services Authority, the Indonesian life insurance industry continued to expand in the third quarter of 2017. For the first nine months of 2017, the industry recorded a total net premium income of IDR 127.07 trillion, a 38% growth year-on-year compared to the same period in 2016. The total technical reserve for the industry as of the third quarter increased by 31% year-on-year to IDR 372.25 trillion. Milliman’s Richard Holloway, Halim Gunawan, and David Kong offer more perspective in the latest Indonesia Life Insurance Newsletter.
The Tax Cuts and Jobs Act was signed into law in December. Tax reform will lead to either changes in projected profitability, changes in product design or pricing, or both. In this analysis, Milliman actuaries measure the impact of the tax code changes on a range of different insurance product types.
This report by Milliman consultants summarises the Solvency and Financial Condition Reports of the main players in the life and non-life insurance business in Luxembourg. It focusses on the largest insurance entities in Luxembourg as well as some large reinsurance entities and includes an overview of the factors determining the Solvency Capital Requirement ratio.