As the largest ASEAN country and one of the most tolerant nations in the region, Indonesia has been blessed with both an abundance of natural resources and a large population of diverse people of different religions living together in peace. Over the last five years, the national economy has developed at a faster rate than in many other ASEAN...
The country’s insurance sector stands out as the fastest growing and most promising in South-east Asia, even within a region widely seen as the most attractive for the world’s major underwriters. Supported by rapid economic growth spurred by domestic consumption in the past decade, the sector has averaged compound annual growth of 20% in gross...
Endowed with substantial energy reserves spread across its vast territory, Indonesia has been among the region’s largest producers and exporters of fossil fuels for decades. While this trend shows little sign of changing, the sector is in the midst of a dramatic shift in the composition of its resources. With crude production in decline, natural gas...
The country has been one of the region’s early adopters of a risk-based capital (RBC) regulatory framework, since 2005. Despite improvements in risk weightings, however, the industry still suffers a significant gap across players in terms of risk management processes, with larger local and foreign players in line with international best practices...
The world’s fourth-largest population, a very low insurance penetration rate and strong prospects for growth are proving a draw for foreign investors eyeing Indonesia’s insurance market. Higher caps on foreign ownership than elsewhere in Asia – 80% of an underwriter’s equity, compared to 49% in Thailand and 26% in India – add to the appeal. With the...
THE COMPANY: Established in 1970, Wintermar Offshore Marine (WINS) is one of the largest offshore marine services companies based in Indonesia. For more than 40 years, WINS, owned by the Layanto family, has catered to the upstream offshore oil and gas sector, providing fleet support for exploration,...
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