Indonesia Financial Sector Assessment Program : Insurance Core Principles

International Monetary Fund ; World Bank

World Bank, Washington, DC

关键词: INSURANCE;    MACROPRUDENTIAL SETTING;    SUPERVISION;   

RP-ID  :  123617

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This assessment of insurance regulationin Indonesia was carried out as part of the 2016-17Financial Sector Assessment Program (FSAP). The Indonesianinsurance sector is still vulnerable to a number of materialrisks. A number of insurers have failed in the last 10years. After its establishment, OJK has taken prompt actionin order to reduce the loss to policyholders by takingstrong actions against four insurers with material deficits.OJK has monitored the capital adequacy of insurers throughits risk based supervision scheme. During the recent marketturmoil in 2015, the solvency requirement was relaxed fornine months while introducing the temporary suspension ofmark to market valuation rules. The Indonesian insuranceindustry is exposed to significant catastrophic risk withdomestic concentrations through mandatory reinsuranceprograms. The low interest rate environment in advancedeconomies is also affecting the life insurance sector, asinsurers have some underwriting denominated in USD.