{"id":4672,"date":"2023-01-03T10:10:14","date_gmt":"2023-01-03T03:10:14","guid":{"rendered":"http:\/\/ligaasuransi.com\/?p=4672"},"modified":"2023-01-03T10:10:14","modified_gmt":"2023-01-03T03:10:14","slug":"7-pilihan-berita-asuransi-2023-januari-minggu-pertama","status":"publish","type":"post","link":"http:\/\/ligaasuransi.com\/en\/7-pilihan-berita-asuransi-2023-januari-minggu-pertama\/","title":{"rendered":"7 Selected Insurance News 2023 \u2013 January First Week"},"content":{"rendered":"

Liga Asuransi<\/a> – <\/span>Dear Excellent reader. Happy new year, 2023. I hope your business can run well and smoothly this year.<\/span><\/p>\n

After more than 2 years, the Insurance League is here to publish selected insurance news about the Indonesian insurance industry, which has received a positive response from the public. We are grateful for the response from readers, whose number is increasing daily.<\/span><\/p>\n

We hope this information can sharpen your insurance knowledge and is functional. If you are interested in this news, please share it with your colleagues, so they also understand like you.<\/span><\/p>\n

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  1. AJB Bumiputera’s Financial Restructuring Plan Gets OJK Green Light?<\/b><\/li>\n<\/ol>\n

    KONTAN.CO.ID – JAKARTA. The Member Representative Body (BPA) of the Bumiputera 1912 Joint Life Insurance (AJB) is optimistic that the problems faced by mutual insurance will soon find common ground.<\/span><\/p>\n

    BPA spokesperson RM. Bagus Irawan revealed that recently his party had met again with the Financial Services Authority (OJK). During the meeting, he saw that the Company’s Financial Restructuring Plan (RPKP) had signs of getting the green light.<\/span><\/p>\n

    “The RPKP is only one step away from approval from the OJK,” he told KONTAN last weekend.<\/span><\/p>\n

    Unfortunately, Bagus has not explained in detail what points will be listed in the RPKP. Even though, at the beginning of last December, he had given his lattice a little.<\/span><\/p>\n

    For example, regarding the payment of claims to policyholders, AJB Bumiputera 1912 plans to make payments in the first phase in February this year and then the second phase in February 2024.<\/span><\/p>\n

    In addition, a haircut plan will be enforced about the implementation of article 38, paragraph (4), The articles of association of AJB Bumiputera 1912. At that time, Bagus said he was being proposed to return to the OJK with a range of amounts that could meet the balance between assets and liabilities.<\/span><\/p>\n

    Recently, AJB Bumiputera released financial reports for the second quarter of 2022, which recorded liabilities increasing by 3.60% year on year (yoy) to IDR 33.30 trillion.<\/span><\/p>\n

    This created an imbalance with total assets owned during that period of only IDR 9.78 trillion. Thus, the company’s equity is recorded to experience a more profound negative.<\/span><\/p>\n

    The company’s equity was negative at IDR 23.51 trillion, or an increase of 4.80%. As a result, the listing also contributed to AJB Bumiputera 1912’s solvency or risk-based capital (RBC) level dropping to a harmful level of 1,236.41%.<\/span><\/p>\n

    Source:<\/span> https:\/\/keuangan.kontan.co.id\/news\/plan-pembehatan-keuangan-ajb-bumiputera-mendapat-lampu-green-ojk<\/span><\/a>\u00a0<\/span><\/p>\n

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    1. AASI Predicts Next Year’s Sharia Insurance Industry to Grow 9% -11%<\/b><\/li>\n<\/ol>\n

      KONTAN.CO.ID – JAKARTA. The Indonesian Sharia Insurance Association (AASI) targets the Islamic insurance industry to record a premium growth or contribution of 9% -11% in 2023.\u00a0<\/span><\/p>\n

      Executive Director of the Indonesian Sharia Insurance Association (AASI) Erwin Noekman said Islamic insurance, in principle, estimates based on statistical calculations or existing trends. There will be growing even though the development is less significant than in previous years.\u00a0<\/span><\/p>\n

      “We believe the sharia industry is developing modestly around double digits between 9% – 11%,” said Erwin when contacted by Kontan.co.id, Friday (30\/12).\u00a0<\/span><\/p>\n

      Erwin explained that the target was believed to be because, from a financing standpoint, sharia banking would still grow. It is followed that there is potential in Aceh for those who will fully implement Islamic insurance starting next year.\u00a0<\/span><\/p>\n

      “Then, we see that there are potentials for new sources of sharia financing, for example, from productive waqf that will carry out infrastructure development,” he said.\u00a0<\/span><\/p>\n

      Apart from that, said Erwin, there is another bonus for the Sukuk for infrastructure development. There is a more apparent potential in 2023, where Umrah trips require sharia insurance.<\/span><\/p>\n

      “Moreover, the situation has improved, so the number of pilgrims going to Umrah will return to normal like the years before the pandemic,” said Erwin.\u00a0<\/span><\/p>\n

      Look at the performance of sharia insurance. You can see from the Financial Services Authority (OJK) data that the gross contribution of sharia insurance reached IDR 19.95 trillion or grew 18.13% year on year (YoY) until the third quarter of 2022.<\/span><\/p>\n

      This value is recorded by sharia life insurance, general insurance, and sharia reinsurance. In addition, total assets rose 3.00% to IDR 44.99 trillion. With investment assets of IDR 36.90 trillion or a growth of 5.28%, along with investment returns of IDR 936 billion, a significant increase from the previous acquisition of IDR 13 billion.\u00a0<\/span><\/p>\n

      The claims paid reached Rp. 14.40 trillion, a slight decrease of 1.58%. Thus, sharia insurance penetration was still recorded at 0.14%, including a density of Rp 96,127.\u00a0<\/span><\/p>\n

      Meanwhile, according to Erwin, the challenges in the insurance industry are, in principle, the same as conventional insurance, life insurance, and general insurance. Erwin said, in general, the challenges of the insurance industry are like the image that needs to be improved. Where the idea of the insurance industry is declining, so it needs to be repaired again.\u00a0<\/span><\/p>\n

      “Even though sharia insurance is not yet, hopefully, it is not involved in default cases and the like. In general, the insurance industry is experiencing a bad image test,” said Erwin.\u00a0<\/span><\/p>\n

      In addition to the challenges in general in the insurance industry. Erwin reminded me that there are challenges experienced in sharia insurance. According to him, the challenge will be even more significant with an unbalanced competitive climate between sharia insurance companies that are fully operational and sharia units with unstable costs of insurance.\u00a0<\/span><\/p>\n

      “If the Islamic insurance company is full, the cost is higher. If it is still a unit, it is relatively lower,” he explained.\u00a0<\/span><\/p>\n

      AASI obtains input from Islamic insurance companies that are fully operational. They have analyzed this issue. In other words, it is not fair because the costs that must be incurred are more significant in Islamic insurance companies that are not units.\u00a0<\/span><\/p>\n

      Meanwhile, several product innovations in the sharia insurance industry will be launched. Erwin said several initiatives, such as parametric insurance, will be used in agriculture, plantations, animal husbandry, and anything that uses parametric calculations or is related to natural disasters.\u00a0<\/span><\/p>\n

      In addition, several product innovations in sharia insurance will be developed but are still in discussion.<\/span><\/p>\n

      Source: <\/span>\u00a0<\/span>https:\/\/newssetup.kontan.co.id\/news\/aasi-prediksi-tahun-depan-industri-asuransi-syariah-tumbuh-9-11-1<\/span><\/a>.<\/span><\/p>\n

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      1. Listen! 5 Tips for Choosing the Right Term Life Insurance<\/b><\/li>\n<\/ol>\n

        Bisnis.com, JAKARTA – Entering early 2023, many people make financial resolutions throughout the year. One of them is related to insurance products. So, see 5 tips on choosing the right term life insurance according to your needs. Most people need help understanding the many types of insurance available. Consumers only consider insurance when they experience a loss, injury or accident. Now is the time to have insurance. Quoting from Forbes, Sunday (1\/1\/2023), term life insurance will provide coverage for a certain period\u2014usually 10, 15, 20, or 30 years. This can be an affordable way to get coverage until you reach certain financial milestones. In addition, life insurance companies consider at least two main factors when determining the premium a person must pay for coverage: health and age. Aviva UK & Ireland General Insurance CEO Adam Winslow said that the younger a person is when buying life insurance, the lower the price because it has a more negligible risk to be insured. However, several steps should always be considered before choosing an insurance product. Quoting from Outlook on Sunday (1\/1\/2023), here are 5 tips for selecting the correct term life insurance\u00a0<\/span><\/p>\n