AAJI: New Life Insurance Business Premiums Reach Rp27.90 Trillion in Q1
Jakarta (ANTARA) - The Chairman of the Board of the Indonesian Life Insurance Association (AAJI), Albertus Wiroyo, stated that new business premium income in the life insurance industry reached Rp27.90 trillion (unweighted) in the first quarter of 2026. He noted that this figure represents a 5.0 per cent year-on-year growth compared to the Rp26.56 trillion achieved during the first quarter of 2025.
“The growth in new business premiums demonstrates that public demand for insurance protection remains steady amidst the economic dynamics at the beginning of this year,” Albertus said in Jakarta on Tuesday. He explained that this positive performance was supported by increasing customer interest in unit-linked products, particularly single premium schemes.
Regarding the performance of each distribution channel, he stated that the bancassurance channel was the main contributor to new business premium income, amounting to Rp13.24 trillion. This, Albertus continued, indicates that the partnership between banking and insurance is operating very effectively, although this figure decreased by 1.8 per cent year-on-year.
He noted that the direct marketing distribution channel ranked second, contributing Rp6.92 trillion in premium income, an increase of 14 per cent year-on-year. Furthermore, the agency channel contributed Rp4.04 trillion in premium income, growing by 1.1 per cent year-on-year. He stated that most other alternative distribution channels also recorded positive growth trends at the start of this year.
Premium income through the employee benefit consultant channel surged by 35.7 per cent year-on-year to Rp1.76 trillion; the broker channel rose by 17.5 per cent year-on-year to Rp1.16 trillion; cooperation with non-bank financial industries grew by 1.1 per cent year-on-year to Rp350 billion; while the telemarketing channel increased by 17.9 per cent year-on-year to Rp330 billion. “The diversity of these distribution channels is a crucial factor in expanding public access to life insurance products and services, as well as supporting new business growth within our industry,” said Albertus.
Meanwhile, renewal premium income from existing business reached Rp19.37 trillion, a 7.5 per cent decrease year-on-year compared to the Rp20.94 trillion achieved in the first quarter of last year. “Renewal premiums remain an important foundation for industry sustainability as they reflect customer commitment to maintaining their long-term protection,” he said.
Albertus noted that the positive performance of the life insurance industry was also reflected in the number of people protected, which surged by 20.9 per cent year-on-year to 118.28 million people. This achievement was supported by a significant jump in the group segment, which rose 26.1 per cent year-on-year to 95.72 million people, while the individual segment also grew by 2.7 per cent to 22.56 million people. In line with the growth in the number of customers, total sum assured also increased. In the first quarter of 2026, the industry’s protection value grew by 6.5 per cent to Rp6.45 quadrillion. “The number of policies also recorded positive growth of 3.6 per cent to 22.54 million policies, in line with the increasing number of people with life insurance protection,” Albertus added.