Indonesia Financial Group (IFG) believes the insurance industry still has promising prospects in line with national and global economic recovery efforts in 2021.

"The insurance industry is one of the financial sectors that was directly affected by the Covid-19 pandemic. Even though it is affected, we are optimistic that the potential growth of the insurance industry in Indonesia is still large, "said IFG Commissioner Fauzi Ikhsan through an official publication, Monday (31/5).

Based on data from the International Association of Insurance Supervisors, the asset value of insurance companies both in the form of stocks and bonds had been according, and only showed improvement in performance in the fourth quarter of 2020, especially since the discovery of the anti-covid vaccine.

According to him, although the potential for growth in the insurance industry is large, it requires additional capital, consolidation, and human resources for insurance spe