History of Insurance in Indonesia

Insurance Indonesia

Insurance company in Indonesia to the Dutch colonial era and country at that time called the Dutch East Indies. The existence of insurance in country following the success of the Dutch in the plantation sector and trade in the colonies.

To ensure its survival, insurance is absolutely necessary. Thus, the insurance industry in Indonesia can be divided into two periods, the colonial period until 1942 and the period after World War II, or the time of independence.

At the time of the Japanese occupation army for three years and a half, almost no history of developments.

Insurance in the Dutch East Indies during the colonial era companies, it is:
- Companies created by the Dutch.
- Companies that are branch of an insurance headquartered in the Netherlands, the United Kingdom and in other countries business.

With a system of monopoly term in the Dutch East Indies, the development of insurance in the Netherlands is the Indian trade is limited to the activities and interests of the Dutch, the British and other European nations. And the role of insurance benefits have not been recognized by the public, especially by indigenous communities.

This type of insurance was introduced in the Dutch East Indies at the time was very limited and consists primarily of fire insurance and freight.

Car insurance continue to play a role, as the number of vehicles is still very little and only owned by the Dutch and other foreign nation. In colonial times not recorded a single insurance company.

During the activities of the Second World War insurance in Indonesia practically stalled, mainly because of Dutch insurance companies belonging to the closure and the United Kingdom.

Independence era of insurance. After the First World War ended, the Dutch companies and the United Kingdom back in operation in the country that has this freedom. Until 1964, the market for the insurance industry in Indonesia is still dominated by foreign companies, especially the Netherlands and the United Kingdom.

At the beginning of its operations in Indonesia set up a body called the " Bataviasche Verzekerings Unie " (BVU) in 1946, leading group insurance. Thus, from each end, each member of the BVU gained some share. How this is done in the circumstances at the time and was not organized labor is still too little insurance.

In 1950, the company has established a first loss insurance, the NV. Maskapai Asuransi Indonesia and in early 2004 became a PT MAI PARK.At that time, as a pioneer of national insurance company, then the company is competing with foreign insurance companies who excel in the capital and the factor of technical knowledge.

With the creation of national insurance companies, national courage encouraged entrepreneurs to create insurance companies. Courage is also supported by government regulation that all imported goods must be insured in Indonesia. This provision aims to respond to the use of foreign currencies to pay for foreign insurance premiums.

In 1953, created a national private company also engaged in the Dutch and British reinsurance Indonesia, the use of foreign currency to pay reinsurance premiums abroad remain as daunting. To cope with this, in 1954, founded a professional reinsurance company, the "PT. Reinsurance.UMUM INDONESIA"which received the support of public banks.

The measures taken by the government in this case give the desired results. PT activities. General Reinsurance Indonesia in 1963 extended the life reinsurance business.

When PT. General Reinsurance Indonesia was established, many insurance companies have emerged at national level, but its development is still facing strong competition from foreign private insurance companies.
At the time of the fight back West Irian of the Republic of Indonesia, the government nationalized the Dutch society. British companies were nationalized in the confrontation.

Keyword: history, of, insurance, in, Indonesia, history Indonesia, history insurance Indonesia, history of insurance in Indonesia.

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