best insurance stock - Republic of Indonesia insurance belongings marketplace 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 nigh 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 make 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 per centum 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 wishing to create a preference industry premium rates for property insurance has non yet materialized. That is, the property insurance premium price competition will boot the bucket along to happen.
In fact, the wishing to make the tariff preferences that have been around a long time. However, until directly at that spot is statistical data collected premium of industry players to make such preferences. Unlike in vehicle insurance, is there a reference rate.