History of Insurance

History of Insurance in Indonesia

History of Insurance business in Indonesia during Dutch colonial rule and our country at that time called the Netherlands East Indies. The existence of insurance in our country as a result of the success of the Dutch in the plantation sector and trade in the colonies.To ensure its survival, then the insurance is absolutely necessary. Thus the insurance business in Indonesia can be divided into two periods, namely 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 about three and a half years, almost no recorded history of the development.Insurance companies in the Dutch East Indies during colonial era it is:

   
 The companies founded by the Dutch.
    The companies that are branch office of the insurance company headquartered in the Netherlands, the UK and in other countries.With a run monopoly system in the Dutch East Indies, the development of insurance in the Netherlands East Indies trade is limited to the activities and interests of the Dutch, 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 has been introduced in the Dutch East Indies at that time was very limited and mostly consists of fire insurance and freight.Motor vehicle insurance still play a role, because 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 World War II activities of insurance in Indonesia practically stalled, mainly due to the closure pemsahaan Dutch-owned insurance companies and the UK. 

History of Insurance independence era After World War ended, the Dutch companies and the UK back in operation in the country that has this freedom. Until 1964 the insurance industry's market in Indonesia is still dominated by foreign companies, especially the Netherlands and the UK.At the beginning their operations in Indonesia set up a body called the "Bataviasche Verzekerings Unie" (BVU) in 1946, which conducts collective insurance. Thus from every closing, each member of the BVU gained a certain share. How this is done given the circumstances at the time and was not organized labor is still far too little insurance.In 1950 the company established a first loss insurance, the NV. Insurance Indonesian airline which then in early 2004 has become a PT MAI PARK. At that time, as a pioneer of national insurance company first, then the company must compete with foreign insurance companies that excel in both capital and technical knowledge factor.With the establishment of the national insurance companies, national courage spurred entrepreneurs to establish insurance companies. Courage is also supported by government regulation that all imported goods should be insured in Indonesia.  

This arrangement is intended to address the use of foreign exchange to pay for insurance premiums abroad.In 1953 established a national private company also engaged in reinsurance Dutch and British in Indonesia, the use of foreign exchange to pay reinsurance premiums abroad also remain daunting. To cope with this, in 1954 founded a professional reinsurance company, the "PT. REINSURANCE. UMUM INDONESIA "which received support from government banks.The latter institution was issued regulations that bind to foreign insurance companies to menggunakanjasa national reinsurance company. The steps taken by the government in this case give the expected results. PT activities. General Reinsurance Indonesia in 1963 expanded the life reinsurance activities.At the time of PT. Reinsurance Umum Indonesia was established, many insurance companies have sprung up nationwide, but its development is still hampered by severe competition from private insurance companies foreign.At the time of the struggle of West Irian to the Republic of Indonesia, the government nationalized the Dutch company. British companies were nationalized in the confrontation.

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