Indonesian non-life insurance market forecasts 2024-2028

According to GlobalData, the Indonesian non-life insurance market is expected to generate a turnover of 170 390 billion IDR (11.5 billion USD) in 2028, compared with 110 940 billion IDR (7.3 billion USD) in 2024. The average annual growth rate over the 2024-2028 period is estimated at 11.3%.

This growth would be driven by favorable regulatory reforms, increased demand for natural catastrophe insurance policies and government support for credit distribution to micro, small and medium-sized enterprises.