Indonesian insurers teeter towards default

Indonesia’s insurance industry, little understood and often treated as the orphan of the financial services sector, is in trouble again with state-owned Asuransi Jiwasraya and the military’s Asuransi Sosial Angkatan Bersenjata Republik Indonesia (ASABRI) unable to pay out on policies and investments worth nearly US$2 billion. Insurance experts say the two cases, which appear to […]