Liga Asuransi – Happy Monday! An exciting start to the week is the perfect time to update your horizons with the latest news.
The world of Indonesian insurance is being shaken by various hot news and the latest developments that are worth paying attention to! Starting from summoning the President Commissioner of PT Asuransi Sinarmas by the Corruption Eradication Commission (KPK) regarding the fictitious investment corruption scandal at PT Taspen, to the Financial Services Authority’s (OJK) big strategy in strengthening the sharia insurance industry through the spin-off of 17 sharia business units in 2025. Not only that, Indonesia Re also highlighted the importance of improving the quality of human resources (HR) as the main key in encouraging national insurance penetration which is still lagging behind compared to other countries in Asia.
This article will thoroughly examine the 7 most updated and complete insurance news that you must know! Don’t miss important information that can open new insights about the future of the insurance industry in Indonesia, the challenges faced, and strategic solutions that are being promoted by stakeholders. Ready to stay ahead in following the dynamics of national insurance? Let’s start!
Indonesia Re: HR is the secret key to increasing insurance penetration in Indonesia!
Improving the quality of human resources (HR) is a key factor in accelerating national insurance penetration, said PT Reinsurance Indonesia Utama (Persero) or Indonesia Re.
In a webinar titled “Regulatory Changes and Their Impact on the Insurance Industry: A 2025 Outlook” which was held by the Indonesia Re Institute, Indonesia Re’s Director of Development and Information Technology, Beatrix Santi Anugrah, emphasized that the sustainability of the insurance industry does not only depend on regulations and capital, but also on the competence of the human resources who run this business.
“We at Indonesia Re are committed to building a stronger, more stable and trusted insurance industry ecosystem through three main pillars—learning, research and data. “With qualified human resources, we are sure that insurance penetration in Indonesia will increase significantly,” said Beatrix in her statement, Wednesday (5/2/2025).
Insurance Penetration Still Low, HR is the Solution!
Indonesia is still lagging behind in terms of insurance penetration compared to other countries in Asia. One of the main causes is the public’s lack of understanding about the benefits of insurance, which is closely related to the quality of marketing personnel and industry professionals.
To overcome these challenges, the Indonesia Re Institute continues to develop various education and training programs for insurance industry players. With a research and data-based approach, this training aims to produce professionals who not only understand regulations, but are also able to provide the right insurance solutions for society and business.
New Regulations Need Reliable Human Resources!
On the same occasion, Director of Risk Management, Compliance, HR and Corporate Secretary of Indonesia Re, Robbi Yanuar Walid, emphasized that new policies such as the P2SK Law and POJK No. 23 of 2023 requires industry to have higher quality human resources.
“This new regulation not only requires changes in business strategy, but also increased skills and understanding of insurance industry players. “Better human resources will ensure this industry develops and is increasingly trusted by the public,” he explained.
The Future of the Insurance Industry: Ready or Not?
Through various initiatives that have been launched, Indonesia Re is optimistic that improving the quality of human resources will be the main key in expanding the reach of insurance in Indonesia. Not only does this step strengthen industrial stability, it also supports sustainable national economic growth.
With better quality human resources, is the Indonesian insurance industry ready to face new challenges? We are waiting for the next breakthrough!
17 Sharia Business Units Will Be Separated from Parent! OJK Reveals Big Plans for Sharia Insurance Industry
The Financial Services Authority (OJK) revealed that as many as 17 sharia business units (UUS) of insurance companies will immediately spin-off or separate from their parent companies in 2025. This step is being carried out in accordance with the Sharia Unit Separation Work Plan (RKPUS) which was previously submitted.
Deputy Chairman of the OJK Board of Commissioners, Mirza Adityaswara, in his statement in Jakarta on Tuesday (11/2), explained that apart from the 17 UUS that would carry out spin-offs, there were five other UUS that chose to transfer their portfolios to sharia insurance companies that were already operating.
“Based on the RKPUS that has been submitted, in 2025 it is projected that 17 UUS will spin-off, while five others will transfer their portfolios to existing sharia insurance companies,” said Mirza.
Progress of Separation of UUS and Growth of the Sharia Industry
OJK noted that by December 2023, as many as 41 insurance and reinsurance companies had submitted their RKPUS. Throughout 2024, the realization progress includes one UUS from a life insurance company that has obtained a sharia life insurance business license and is in the process of transferring its portfolio to a new company. Meanwhile, one UUS from a general insurance company has completed the transfer of its portfolio to another sharia insurance company.
In the midst of this transition, the sharia financial sector is still showing positive growth from year to year (YoY), even though the Indonesian Sharia Stock Index (ISSI) experienced a decline of 1.78 percent year to date (YTD). Several indicators of growth in the Islamic financial sector include:
- Sharia banking financing increased by 12.33 percent.
- Sharia insurance contributions grow 21.07 percent.
- Sharia financing receivables rose 10.12 percent.
Increasing Sharia Financial Literacy and Inclusion
In an effort to increase understanding and inclusion of sharia finance, OJK has held meetings with associations and sharia financial services businesses to form an Organizing Committee for the Orchestration of the Sharia Financial Literacy and Inclusion Program (OC LIKS). This committee aims to strengthen coordination and effectiveness of sharia financial literacy and inclusion programs in Indonesia.
“OC LIKS will act as a liaison between the OJK and sharia financial services business actors, as well as encourage collaboration with stakeholders to increase public understanding and access to sharia financial services,” explained Mirza.
With these various strategic steps, it is hoped that the sharia financial ecosystem will become more solid and able to have a positive impact on the wider community and the sharia insurance industry in Indonesia. What will be the impact on customers and the industry in the future? We are waiting for further developments!
President Commissioner of Sinarmas Insurance Summoned by KPK, Taspen Corruption Case Increasingly Revealed!
The Corruption Eradication Commission (KPK) has again summoned a number of witnesses regarding the alleged fictitious investment corruption case at PT Taspen (Persero) for the 2019 fiscal year. One of the witnesses summoned is the President Commissioner of PT Asuransi Sinarmas, Indra Widjaja. Apart from Indra, the KPK also asked for information from three other witnesses, namely Ferriyady Hartadinata (Director of PT Hartadinata Abadi), Agung Cahyadi Agung (Main Director of PT FKS Multi Agro, Tbk), and Helmi Imam Satriyono (former Finance Director of Taspen).
The examination of these four witnesses took place at the KPK’s Red and White Building on Wednesday (12/2/2025). “The investigation was carried out to investigate the alleged involvement of related parties in fictitious investments that were detrimental to state finances,” said KPK spokesperson Tessa Mahardhika Sugiarto.
State Losses Reach IDR 200 Billion
In this case, the Corruption Eradication Commission has detained two main suspects, namely the former Main Director of PT Taspen, Antonius NS Kosasih (ANSK), and the former Main Director of PT Insight Investment Management (PT IIM), Ekiawan Heri Primaryanto (EHP). The Corruption Eradication Commission’s Director of Investigation, Asep Guntur Rahayu, revealed that this fictitious investment caused state financial losses of up to IDR 200 billion.
“ANSK is suspected of having caused losses to state finances due to the placement of PT Taspen investment funds amounting to IDR 1 trillion in the RD I-Next G2 Mutual Fund managed by PT IIM. Of this amount, at least IDR 200 billion was lost,” said Asep.
Alleged Fictitious Investment Scheme
The Corruption Eradication Commission suspects that this fictitious investment was deliberately carried out to benefit a number of parties and several companies. Based on initial findings, a number of corporations suspected of receiving profits from this scandal include PT IIM which received a profit of IDR 78 billion, PT VSI of IDR 2.2 billion, PT PS of IDR 102 million, and PT SM of IDR 44 million.
“Strong indications show that there are parties affiliated with the ANSK suspect and the EHP suspect who are also enjoying the profits from this fictitious investment,” added Asep.
As this case continues to unfold, the public is waiting for firm steps from the Corruption Eradication Commission (KPK) to reveal who was involved in this investment scandal that harmed civil servant pension funds. Will more big names be swept up? We are waiting for the continuation!
OJK Targets Insurance & Pension Fund Growth in 2025! This is the driving factor
The Financial Services Authority (OJK) is targeting positive growth in the insurance, guarantee and pension fund (PPDP) sector by 2025. Chief Executive of the OJK PPDP Supervisor, Ogi Prastomiyono, is optimistic that this target can be achieved with the support of various government policies, including President Prabowo’s economic program.
“The PPDP sector is projected to continue to grow positively in 2025 with insurance increasing 6-8%, pension funds 9-11%, and guarantees 6-8%,” said Ogi at the 2025 Financial Services Industry Annual Meeting press conference in Jakarta, Tuesday (11/2/2025).
According to Ogi, the growth of this industry will be driven by the government’s food security policy, which the insurance sector can take advantage of through the development of parametric insurance, rice farming business insurance, and cattle business insurance. Apart from that, the 3 million houses per year construction program promised by Prabowo also opens up huge opportunities for the insurance industry in providing infrastructure and property protection.
“Insurance will play a role in providing protection against credit risk, credit life insurance for debtors, as well as property protection from natural disasters and floods,” he added.
However, big challenges also await this industry in 2025. Ogi mentioned the increasing cases of critical illnesses, death rates, public health issues, and digital security threats as factors that need to be watched out for.
With the synergy of government policies and the readiness of the insurance industry, OJK is optimistic that the PPDP sector can grow stronger and provide broader financial protection for the community.
ESG Power! PNM & BRINS Hold Green Action in Bangka Belitung: 1,000 Trees Planted, MSMEs Protected
PT Permodalan Nasional Madani (PNM) increasingly emphasizes its commitment to Environmental, Social and Governance (ESG) principles through a spectacular collaboration with PT BRI Asuransi Indonesia (BRINS). In an event BRINS Tree Planting and Insurance Literacy Collaboration – PNM 2025 which was held in Central Bangka, Bangka Belitung Province, Tuesday (11/2), both parties showed real action in supporting sustainability and financial protection.
This event carries two main initiatives. First, planting 1,000 tree seedlings—consisting of eucalyptus trees and cashew nuts—which not only supports environmental conservation but also provides economic value for the local community. This reforestation activity received full support from the Environment and Forestry Service (DLHK) of Bangka Belitung Province and was held at the Governor’s office complex.
Second, PNM and BRINS also held insurance literacy education sessions for PNM Mekaar customers. Through this outreach, ultra-micro and micro entrepreneurs are invited to understand the importance of business protection through insurance, so that their business can be protected from various risks, from natural disasters to other operational disruptions. This initiative is expected to increase financial resilience and business sustainability amidst the current economic dynamics.
Also present at the event were representatives from PNM and BRINS, as well as the Acting Regional Secretary of Bangka Belitung Province. The head of PNM Bangka Belitung Branch emphasized that this collaboration had a positive impact not only on the environment—such as reducing air pollution—but also increasing customer awareness in protecting their businesses.
The BRINS representative added that this activity is part of efforts to encourage financial inclusion and increase insurance literacy among micro entrepreneurs, which have so far received little attention. With the synergy between greening actions and financial education, PNM and BRINS hope to inspire people to care more about nature conservation while also using insurance as a business security tool.
Through this strategic step, PNM increasingly emphasizes its active role in supporting ESG principles and building a greener and economically stronger future.
Asei Insurance Ready to Step on the Gas in 2025! Massive Transformation Towards a New Era
PT Asuransi Asei Indonesia is preparing to face the growth opportunities of the insurance industry in 2025 with a massive transformation strategy! President Director of Asuransi Asei, Dody Achmad Sudiyar Dalimunthe, revealed that in the last two years, the company has continued to make changes to improve business processes and balance the business portfolio.
Unfortunately, even though there is a shift in business focus from one business line to another portfolio, the results achieved in 2024 still do not meet the target. Therefore, in 2025 and in the next five years, Asuransi Asei will focus on strengthening the business, implementing PSAK 117, developing product innovation, digitizing services, and strengthening capital to be more competitive in the industry.
Big Opportunities and Transformation Strategies
According to Dody, several factors will provide golden momentum for the general insurance industry in 2025. Increasing public awareness of the importance of insurance, technology-based innovation to improve customer experience, as well as government support in the form of mandatory insurance regulations are growth catalysts that are ready to be utilized.
However, that doesn’t mean this journey is without obstacles. Global economic uncertainty, fluctuations in people’s purchasing power, and the risk of disasters due to climate change are expected to increase insurance claims, especially in the property and vehicle sectors. In addition, increasingly fierce competition requires companies to continue to innovate to remain relevant in the market.
Big Challenge: Implementation of PSAK 117
One of the main challenges for the insurance industry this year is the implementation of PSAK 117, which will change the income recording system and capital structure of insurance companies. Dody revealed that many insurance companies have the potential to be significantly impacted, so Asei Insurance has started preparing financial data, cost analysis and technical reserve strategies since 2024 to deal with this change.
With the projected growth of insurance industry assets in the range of 6% -8% as targeted by OJK, the insurance sector is expected to play an important role in supporting government programs, such as food security and infrastructure development. Therefore, insurance companies are required to develop products that are easier to understand and access by the public.
“With the right strategy and readiness to face challenges, we are optimistic that the general insurance industry can achieve the growth target set by the OJK in 2025,” concluded Dody.
Can Asei Insurance and the insurance industry as a whole face the challenges and take advantage of the opportunities in 2025? We look forward to the next breakthrough! 🚀
Askrindo & Deprindo Collaborate! Smart Solution to Protect Property from Fire Risk
In an effort to provide maximum protection for property owners in Indonesia, PT Asuransi Kredit Indonesia (Askrindo) has established strategic cooperation with Indonesian Property Developers (Deprindo). This step aims to expand fire insurance coverage, especially in the middle class housing segment, in order to increase people’s financial resilience.
This cooperation agreement was signed by Askrindo Business Director, Budhi Novianto, and General Chair of Deprindo, Muhammad Aditya Prabowo, on Thursday (13/02/2024). According to Budhi, this partnership is a strategic step in providing comprehensive protection against the risk of fire which can threaten property assets.
SIKEBAL: Easy & Affordable Protection
As part of this collaboration, Askrindo presents a program SIKEBAL (Fire insurance), which is designed specifically for middle-class housing developers. This program offers comprehensive protection with superior features and an easy claims process.
“Deprindo will play an active role in distributing and socializing the program SIKEBAL to its members and the wider community. “We hope that this initiative can increase awareness of the importance of insurance in maintaining the value of property investments,” said Budhi.
Askrindo and Deprindo agreed to carry out this collaboration for the next year, with the hope that more property owners can access protection from fire risks.
With the program SIKEBAL, House owner IT can be more calm and protected. Don’t let the risk of fire threaten your assets—protect your property now with smart solutions from Askrindo and Deprindo!
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