REPUBLIKA.CO.ID, JAKARTA - Despite the economic slowdown in 2013, Indonesia's Islamic Insurance Association (AASI) is optimistic that Islamic insurance will grow well this year. AASI chairman, Shafie Zein said that some new company Islamic insurance would opened this year, as well as some acquisitions planned. 

"I cannot announce the number, but the new companies will accelerate Islamic insurance's growth. This year will be better than last year," Zein said recently.

Assets of life insurance companies increased 25.4 percent in 2013 in from 13.213 trillion IDR to 16.564 trillion IDR. Gross premium also rose 24.9 percent in 2013, from 7.1 trillion IDR to 8.8 trillion IDR. Investment value grew 26.5 percent, from 11.302 trillion IDR to 14.29 trillion IDR.

Insurance claims grew rapidly 40.7 percent, from 1.7 trillion IDR to 2.5 trillion IDR. Assets of insurance and re-insurance increased 18 percent, from 3.1 trillion IDR to 3.722 trillion IDR. The investment value of both insurances increased only 24.5 percent, from 2.215 trillion IDR to 2.75 trillion IDR compared to 2012, which rose 75 percent.

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