Jakarta, CNBC Indonesia \u2013 The Financial Services Authority (OJK)\nrecorded that the performance of the Insurance, Suretyship and Pension\nFund (PPDP) industry showed growth in June 2026, although a number of\nbusiness lines were still contracting.<\/p>\n
Ogi Prastomiyono, Chief Executive of Insurance, Suretyship and\nPension Fund Supervision at OJK, revealed that the total assets of the\ninsurance industry as of June 2026 reached Rp1,184.72 trillion, growing\n1.86% year on year (yoy) compared to the same position last year.<\/p>\n
\u201cFor commercial insurance, assets were recorded at Rp967.7 trillion,\nup 2.97% yoy,\u201d Ogi said at a press conference on OJK\u2019s Monthly Board of\nCommissioners Meeting (RDKB), held virtually on Tuesday (4\/8\/2026).<\/p>\n
In terms of performance, accumulated premium income from commercial\ninsurance up to June 2026 stood at Rp270 trillion, growing 2.84% yoy.\nHowever, this growth was underpinned by the performance of life\ninsurance, which rose 8% yoy to Rp94.83 trillion, whilst general\ninsurance and reinsurance actually contracted 3.34% yoy to Rp76.15\ntrillion.<\/p>\n
Meanwhile, for non-commercial insurance comprising BPJS Kesehatan,\nBPJS Ketenagakerjaan and insurance for civil servants, the military and\npolice, total assets were recorded at Rp216.97 trillion, a contraction\nof 2.8% yoy.<\/p>\n
In the pension fund sector, assets grew 6.47% yoy to Rp1,680.57\ntrillion. In detail, voluntary pension funds recorded assets of Rp407\ntrillion, growing 4.0% yoy, whilst pension contributions as of May 2026\ngrew 4.94% yoy. Mandatory pensions, which include the Old-Age Security\n(JHT) programme, BPJS Ketenagakerjaan pensions, and old-age savings for\ncivil servants, the military and police, recorded assets of Rp1,273.24\ntrillion, up 7.26% yoy.<\/p>\n
In contrast to the other two sectors, the suretyship industry\ncontracted 3.05% yoy to Rp45 trillion in June 2026, continuing the 2.95%\nyoy contraction recorded in May 2026.<\/p>\n
OJK is currently drafting an OJK Regulation (RPOJK) on good corporate\ngovernance for the three PPDP sectors \u2014 insurance, suretyship and\npension funds \u2014 as part of efforts to strengthen and develop the\nindustry.<\/p>\n
Regarding the implementation of PSAK 117 on insurance contracts, OJK\nhas also decided to extend the deadline for submitting first-half\nfinancial reports from 31 July at the latest to 31 August 2026. This\nleniency was granted so that companies have more time to reconcile their\ndata and information.<\/p>\n
\u201cNevertheless, companies must still ensure that reports are complete,\naccurate, consistent and in accordance with the prevailing laws and\nregulations,\u201d Ogi stressed.<\/p>\n
In terms of rule enforcement, OJK continues to push for increases in\nminimum equity for insurance and reinsurance companies in the first\nphase. As of June 2026, 120 out of 144 companies, or 83.3%, have met the\nminimum equity requirement. Meanwhile, in the suretyship sector, 18 out\nof 24 companies, or 79%, have met similar requirements.<\/p>\n
Regarding the resolution of problems at financial institutions, as of\n27 July 2026 OJK has placed eight insurance and reinsurance companies as\nwell as eight pension funds under special supervision. Ogi emphasised\nthat the supervision is carried out in accordance with prevailing laws\nand regulations, and in order to protect the interests of policyholders\nand participants.<\/p>\n
OJK is also continuing to investigate suspected unlicensed insurance\nbroking practices. To date, investigations have been carried out into 15\nentities suspected of conducting insurance and reinsurance broking\nactivities without an OJK licence. Throughout the first half of 2026,\nOJK has also revoked three Registration Certificates (STTD) of insurance\nagents related to suspected criminal acts of conducting insurance\nbusiness without a licence.<\/p>\n
In the pension fund sector, OJK has set a new policy through a\ndecision of the Board of Commissioners Member (ADK) concerning pension\nbenefit payments. First, pension benefits derived from severance pay, or\nbenefits for widows\/widows\/orphans, may be paid periodically or in a\nlump sum. Second, pension funds may pay benefits in a lump sum without\nbeing restricted by certain provisions. Third, before carrying out such\npension benefit payments, pension funds must first obtain OJK approval\nfor amendments to the pension fund\u2019s rules.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-reports-growth-in-insurance-and-pension-fund-assets-amid-mixed-sector-performance-1785840754", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }