{
    "success": true,
    "data": {
        "id": 1626159,
        "msgid": "ojk-explains-impact-of-geopolitical-tensions-on-insurance-industry-1773982280",
        "date": "2026-03-20 10:44:37",
        "title": "OJK Explains Impact of Geopolitical Tensions on Insurance Industry",
        "author": "",
        "source": "TEMPO_ID_BISNIS",
        "tags": "",
        "topic": "Finance",
        "summary": "The Financial Services Authority (OJK) has warned that escalating geopolitical tensions could heighten risks in the general insurance sector, particularly through rising logistics costs, supply chain disruptions, and energy volatility, affecting lines such as marine cargo, property, and onshore energy insurance. In response to potential global trade pressures from US reciprocal tariffs and Middle East conflicts, OJK recommends bolstering underwriting practices, adjusting premiums, and enhancing risk management to mitigate impacts on premium growth. Despite these risks, early 2026 data shows stable cash value claims in investment-linked insurance products, indicating that market pressures have not yet significantly prompted policyholder withdrawals.",
        "content": "<p>The Executive Head of Insurance, Guarantee, and Pension Fund\nSupervision at the Financial Services Authority (OJK), Ogi Prastomiyono,\nstated that geopolitical tensions could increase risks in the general\ninsurance industry. These risks arise, among others, through rising\nlogistics costs, supply chain disruptions, and energy volatility.<\/p>\n<p>\u201cBusiness lines that are relatively more affected include marine\ncargo, property, and onshore energy, in line with increasing risk\nexposure in global trade and transportation,\u201d Ogi said in a written\nstatement, quoted on Friday, 20 March 2026.<\/p>\n<p>He explained that reciprocal US tariffs and escalating conflicts in\nthe Middle East have the potential to pressure global trade, thereby\naffecting premium growth and increasing risks in marine cargo\ninsurance.<\/p>\n<p>According to Ogi, risks in marine cargo insurance need to be\nanticipated through strengthened underwriting, premium rate adjustments,\nand more cautious risk management. Based on January 2026 data, the\ntransportation or marine cargo business line in general insurance and\nreinsurance recorded premiums of Rp 1.33 trillion, or 7.23 percent of\ntotal general insurance and reinsurance premiums. This value declined by\nRp 0.18 trillion or 11.91 percent year-on-year.<\/p>\n<p>Ogi assessed that global turbulence risks driving premium\nadjustments, among others, due to reinsurance price adjustments and\nincreased risk perception. However, he said, premium adjustments are\ngenerally carried out gradually while still considering market\nconditions and underwriting prudence principles.<\/p>\n<p>Furthermore, Ogi opined that global economic volatility could affect\nthe performance of investment-based products such as unit links. This is\nbecause the value of these products follows capital market dynamics.\n\u201cSuch conditions also have the potential to increase cash value claims\non PAYDI (investment-linked insurance products),\u201d Ogi stated.<\/p>\n<p>However, based on January 2026 data, PAYDI cash value claims were\nrecorded to have decreased by 3.69 percent year-on-year. Ogi said this\ncondition indicates that up to now, market pressures have not\nsignificantly driven fund withdrawals by policyholders.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-explains-impact-of-geopolitical-tensions-on-insurance-industry-1773982280",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}