In June, the Indonesian Life Insurance Association (AAJI) announced a 28.5% growth in gross premium for the first quarter of 2015 as compared with the first quarter of 2014. The AAJI also revised its growth forecast for the full year of 2015, revising it down to 20% from a previous range of 23% to 29%. Additionally, in August, the Financial Services Authority announced that, following recent developments in the capital markets, it is temporarily reducing the minimum solvency ratio to 50% from 100%, as calculated by the required risk-based capital norms, at least until the end of the year.
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