The central bank will bear a large chunk of state debt loads through a “burden-sharing” scheme worth Rp574.59 trillion (US$ 40 billion).

By Elisa ValentaLike other businesses, the insurance industry is vulnerable to the coronavirus pandemic and the slowdown in global economic growth. The Financial Authority Services (OJK) noted that the growth trend of insurance, particularly life insurance, premium has decreased in the first quarter this year.Life-insurance premium income slumped 13.8% compared to the same period last year. Meanwhile, general insurance premium income still managed a slight growth of 3.65% year-on-year, which is a significant drop compared to 15.65% growth in full year 2019. In total, as of March, the insurance industry collected Rp17.5 trillion of premium income, a 7.51% contraction