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Indonesia: Insurers urged to increase competition

March 28, 2014 - 6:21am

An Indonesian Chamber of Commerce and Industry official said the nation's insurers should enhance their competitiveness before the implementation of the ASEAN Economic Community in 2015, or face difficulty gaining market share, the Jakarta Post reported.

The Indonesian insurance sector's insurance penetration and density rate is low compared with Malaysia, Thailand and Singapore, the paper said.

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