best insurance stock - Indonesia insurance property market forecast 2013 : Property insurance market share continues to shrink. Data General Insurance Association of Indonesia (AAUI) in the first semester of this year noted , the property insurance market share slipped to 27.4% from the same term last year's 29.9%.
Property market share surpassed by motor insurance rose to 30.1% from the previous 29%. Until the beginning of the semester , the total general insurance premiums Rp 18.89 trillion , grow 12.8% compared to the same period last year of Rp 16.74 trillion.
Property insurance contributions Rp 5.1 trillion or an increase of 3.5% from the same period last year of Rp 5 trillion. While gross property insurance claims actually grew 24.6% to Rp 2 trillion from Rp 1.6 trillion in the previous period. Premium of Rp 5.6 trillion , up 17.2% from Rp 4.8 trillion.
Increasingly shrinking property insurance estimate because the war was still going on tariffs. As a result , players choose cautious about accepting risk property insurance.
In addition , the granting of commissions to intermediaries such as broker or brokerage has been no standardization. First , the commission to the broker the range of 15% -20% , now has a range of 25% -30%. In addition , property premium rates were calculated using the model per mile.
Unlike auto insurance , calculations based on the percentage of the vehicle price. "Hence , the growth of the motor vehicle , the premiums vary with the property ," said Julian.
With this condition , it is not likely the property insurance market share will continue to shrink in the coming period. Moreover , the desire to create a preference industry premium rates for property insurance has not yet materialized. That is , the property insurance premium price competition will continue to happen.
In fact , the desire to make the tariff preferences that have been around a long time. However , until now there is statistical data collected premium of industry players to make such preferences. Unlike in vehicle insurance , is there a reference rate.