Research and Markets: Governance, Risk and Compliance – The Indonesian Insurance Industry 2015

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/qncrp2/governance_risk) has announced the addition of the "Governance, Risk and Compliance - The Indonesian Insurance Industry" report to their offering.

The 'Governance, Risk and Compliance - The Indonesian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Indonesia. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operations of insurance and reinsurance companies and intermediaries.

The report brings together research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, recent and upcoming changes in regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Key Highlights

- The OJK is the government regulatory body supervising and regulating the insurance industry of Indonesia.

- The government permits 80% FDI in the Indonesian insurance industry.

- The Insurance Law 1992 was replaced by the new Insurance Law 2014.

- The placement of non-admitted insurance is not permitted in the Indonesian insurance industry.

- Composite insurance is not permitted in Indonesia.

- The government is in the process of converging the existing national GAAP with IFRS standards.

Key Topics Covered:

1 Introduction

2 Governance, Risk and Compliance

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulations

2.3 Legislation and Market Practice by Type of Insurance

2.4 Compulsory Insurance

2.5 Supervision and Control

2.6 Non-Admitted Insurance Regulations

2.7 Company Registration and Operations

2.8 Taxation

2.9 Legal System

3 Appendix

Companies Mentioned

• Asuransi Jiwa Ikrar Abadi (AJIA)
• American International Assurance Co. Ltd (AIA)
• Indonesia Re
• Reasuransi Internasional Indonesia (Reindo)
• Asei Reasuransi Indonesia
• Tugu Reasuransi Indonesia
• Nasional Reasuransi Indonesia
• PT Asuransi Maipark Indonesia

For more information visit http://www.researchandmarkets.com/research/qncrp2/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006287/en/

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Source: Research and Markets