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NEW UPDATES Asean Affairs  18 January  2016  

 AIA targets SMEs to boost policy holders

Indonesia: Insurance company PT AIA Financial is targeting the owners of small and medium enterprises to support the Financial Services Authority’s (OJK’s) plan to improve insurance penetration in the country.

 “We are following the OJK roadmap to build up financial inclusion. Last year, they [the OJK] targeted housewives. This year, it’s SMEs,” said AIA chief marketing officer Lim Chet Ming in Jakarta on Thursday.

OJK noted that by September last year, only 2.5 percent of 250 million Indonesians had bought insurance products. The lackluster statistic was partly due to expensive premiums. Therefore, the OJK is encouraging insurance companies to create products with more affordable premiums that suit the incomes of those involved in small and medium enterprises.

University of Indonesia’s SME Center revealed that more than 98 percent of the country’s 58 million SMEs earned less than Rp 25 million a month.

AIA’s new products, called Life Secure, will be marketed primarily to the owners of SMEs with premiums starting from Rp 450,000 (US$32.4) a month.

Lim refused to mention the company’s target for this year but stated that the firm was upbeat about growth.

AIA recorded 16 percent in new premium growth from Rp 2.7 trillion in 2014 to Rp 3.2 trillion in 2015. Total premiums rose 23 percent from Rp 7.17 trillion to Rp 8.8 trillion in the same period.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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