Non-bank financial institutions continuously show an improved performance, particularly insurance. During the year 2002 and 2003, the number of insurance enterprises remained 73 establishments, consisting of 60 life insurance companies, 140 loss insurance companies, four reinsurance companies, two social insurance and worker social insurance companies and three companies running insurance programs for civil-servants and military personnel. In addition, there were 120 insurance brokers, 20 reinsurance brokers, 25 insurance adjusters, and 21 insurance consultants.
For the past five years, total assets of insurance companies have augmented meaningfully. The total assets of life insurance companies in September 2003 were recorded at Rp 31,320.5 billion, up from Rp 26,320.5 billion in 2002. On the contrary, total assets of reinsurance companies shrank slightly from Rp15,768.2 billion in 2002 to Rp15,500.5 billion in 2003. However, total assets of companies running insurance programs for civil servants and military personnel swelled from Rp10,397.1 billion in 2002 to Rp13,323.4 billion in 2003.
Investment gains in the field of insurance have also noted an improved performance. Investment from insurance companies amounted to Rp 412.4 billion in 2002, before growing to Rp 442.8 billion in 2003. Insurances' total investment value in September 2003 amounted to Rp 442.8 billion, increasing 7.39 percent from that of 2002. |
Insurance 