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According to GlobalData, the turnover of the Indonesian life insurance market is expected to reach 187 200 billion IDR (12.1 billion USD) in 2028, against 161 300 billion IDR (10.5 billion USD) in 2024. The average annual growth rate over five years is estimated at 3.8%.
The research firm considers this growth to be slower than in previous years. This decline is expected to continue in 2024, mainly due to a downturn in life insurance sales.
