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Protectionism hampers Indonesian insurance market: Insurance Europe


Insurance Europe has called on the European Union to help overturn regulations in Indonesia that the trade group says hinder competition and create an uneven regulatory playing field in the country's insurance market, Asia Insurance Review reported. The European insurers and reinsurers' federation said that Indonesia needs to lift restrictions on cross-border insurance and reinsurance. Indonesia's insurance regulator has also stipulated that a minimum of 25% of the insurance or reinsurance premiums must be placed with domestic insurers and reinsurers.

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