Association expects nonlife gross premiums to grow up to 20% in 2016

The Indonesian General Insurance Association has forecast that gross premiums in the nation's nonlife insurance sector will grow by 15-20% in 2016, Asia Insurance Review reported.

Yasril Y Rasyid, chairman of the association, said that infrastructure developments by the government are likely to increase insurance demand. The association has estimated that general insurance gross premiums will total 58.9 trillion Indonesian rupiahs ($4.5 billion) by the end of the year.

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