Protecting the nation and planning for the future
Gunung Sewu operates Indonesian health and life insurance provider Sequis Life. With over 35 years of experience in the industry, Sequis is committed to be the leading life and health insurer to answer the needs of Indonesian people. By the end of 2018, Sequis Life owns a total asset of IDR 18,4 trillion, serves more than 410,000 policies and is supported by over 14,500 professional agents.
Indonesia’s insurance sector has been growing strongly and the potential for further growth is huge, supported by a healthy domestic economy and a stable market. Today, the percentage of Indonesians with individual life insurance policies is still in the single digits. Going forward, the growth outlook for the insurance industry is robust, with the sector expected to continue registering double-digit growth in the coming years.
Changes in consumer behaviour – the expanding middle class, along with the increasing understanding of financial products, the growing focus on health and wellness, and the need to preserve and protect higher levels of wealth – present opportunities for the sector’s growth. As the economy continues to grow, Indonesians are expected to increasingly use insurance for their wealth protection, health coverage and investment needs.
The industry’s positive outlook is further boosted by Indonesia’s favorable demographics – the country’s population has a relatively low median age and has no significant ageing issues in the foreseeable future.
