MSIG Indonesia Receives Insurance Market Leader Award 2020
MSIG Indonesia won Insurance Market Leader Award 2020 given by Media Asuransi.
This award was given to 15 life insurance companies with the largest premium income in 2019 as well as 15 general insurance companies with the largest gross premium in 2019. The award was awarded virtually on Friday, August 28, 2020. This is the second time Media Asuransi has held this such event since last year.
Quoted from a press release published by Media Asuransi, MSIG Indonesia is include to 15 largest general insurance companies category, which control at least 65% of Indonesia’s general insurance market. This rating is a result of a study held by Lembaga Riset Media Asuransi (LRMA), research institution under Media Asuransi towards published financial report during 7 consecutive years (2013-2019). The result of LRMA study shows that the general insurance industry gross premiums in 2015 grew by 15.0% year-on-year (yoy), from IDR56.18 trillion to IDR64.62 trillion in 2019. In this period, the market leaders (15 largest general insurance companies by 2019 gross premiums) have grown in gross premiums of 20.1% yoy or growing from IDR35.30 trillion in 2018 to IDR42.40 trillion in 2019.
This impressive achievement is an encouragement for us to keep up our commitment in providing security in the field of general insurance and satisfaction to customers.