Industry Report Presented in the IFN Indonesia Forum 2012 Jakarta, - - PowerPoint PPT Presentation
Industry Report Presented in the IFN Indonesia Forum 2012 Jakarta, 17 April 2012 MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA CAPITAL MARKET AND FINANCIAL INS TITUTIONS S UPER VIS OR Y AGENCY INS URANCE BUREAU Islamic Insurance
Presented in the IFN Indonesia Forum 2012 Jakarta, 17 April 2012
MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA CAPITAL MARKET AND FINANCIAL INS TITUTIONS S UPER VIS OR Y AGENCY INS URANCE BUREAU
Life Insurance: 20 Companies
Full- Fledged: 3 Companies Window: 17 Companies
Non Life Insurance: 20 Companies
Full- Fledged: 2 Companies Window: 18 Companies
Reinsurance: 3 Companies
Window: 3 Companies
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 2007 2008 2009 2010 2011 Gross Cont ribut ion 1,387 2,525 3,029 3,690 4,978 Asset s 1,889 2,669 4,803 6,974 9,202 Gross cont ribut ion t o t ot al indust ry's premium 2.05% 3.26% 3.34% 3.43% 3.80% Asset s t o t ot al indust ry's asset s 1.43% 1.95% 2.64% 2.95% 3.21% Biilion rupiah
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 2007 2008 2009 2010 2011 Gross Cont ribut ion 1,093 2,028 2,509 3,022 4,026 Asset s 1,397 1,967 3,900 5,632 7,275 Gross cont ribut ion t o t ot al life indust ry's premium 2.40% 4.02% 4.06% 4.00% 4.14% Asset s t o t ot al life indust ry's asset s 1.37% 1.92% 2.75% 2.99% 3.19% Billion rupiah
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 500 1,000 1,500 2,000 2,500 2007 2008 2009 2010 2011 Gross Cont ribut ion 294 497 520 668 951 Asset s 492 702 903 1,342 1,927 Gross cont ribut ion t o t ot al non-life & reinsurance indust ry's premium 1.33% 1.84% 1.79% 2.09% 2.83% Asset s t o t ot al non-life & reinsurance indust ry's premium 1.65% 2.02% 2.25% 2.78% 3.32% Billion rupiah
Description Life Insurance Non Life Insurance & Reinsurance Total
S urplus Underwriting of Tabarru’ Fund 162.818 86.687 249.505 Profit of S hareholders’ fund 367.528 129.645 497.173 Ratio of claim to gross contribution 25,5% 38,0% 27,9% Ratiof of claim to tabarru’ contribution 50,7% 55,6% 53,0% Return on Investment of S haria Business 5,5% 5,7% 5,5% In Million Rupiah
Deposits, 3,237 , 42% S tocks, 1,898 , 24% Mutual Funds, 1,488 , 19% Corporate S ukuk, 513 , 7% Government S ukuk, 503 , 6% Others, 117 , 2% Value of Investment in billion rupiah
Insurance Business Insurance Law No. 2/1992
Islamic Based Insurance Business Gov Regulation 39/2008 License for islamic insurance business MOF Decree No. 426/KMK.06/2003 Implement at ion of S haria Principles in Insurance Business MOF Regulation No.18/PMK.010/2010 Report of S hariah S upervisory Board Chairment Regulation
Financial S
MOF Regulation No. 11/PMK.010/2011 S
Chariman Regulation No. PER- 06/2011 Format of Report Chairman Regulation No. PER-06/2011 Governance of islamic insurance company MOF Regulation (Draft) Islamic insurance product & t he dist ribut ion MOF Regulation (Draft)
1992
rules for islamic insurance & reinsurance.
insurance & reinsurance regulat ed equally t o convent ional insurance. 2003
Insurance & reinsurance may be
fledged or window.
for licensing of islamic insurance & reinsurance business. 2008
reinsurance may operat e in full fledge or window.
requirement for islamic insurance & reinsurance. 2010
eparat ion of asset and liabilit y of Tabarru’ fund, shareholders’ fund, and part icipant ’s invest ment fund.
insurance & reinsurance.
Underwrit ing S urplus.
provide qardh.
upervision on t he implement ation
principles. 2011
soundness of islamic insurance & reinsurance business.
solvency calculat ion.
financial report .
shariah supervisory report . Next
insurance & reinsurance business should be operat ed in full fledge.
pin-off of sharia unit .
period: 3 year aft er t he law enact ed.