JAKARTA: Investment returns for local life insurance companies plummet as a result of a recent sharp downturn in the Indonesian Stock Exchange (IDX) Composite index.

Life insurers recorded returns of 1.6 trillion rupiah (US$96.6mil) in January, down 56% year-on-year (y-o-y), dragging their overall revenue down by 16.5% to 13.97 trillion rupiah.