Boosting Competitiveness of Shipbuilding Industry, Government Prepares Various Incentives

The Executive Head of Insurance, Guarantee, and Pension Fund Supervision at the Financial Services Authority (OJK), Ogi Prastomiyono, stated that the government is currently preparing various incentives to drive the competitiveness of the national shipbuilding industry.

“This includes fiscal and regulatory facilitations to reduce production costs and increase domestic shipbuilding demand,” said Ogi in his statement on Monday, 30 March 2026.

He acknowledged that this policy synergy makes OJK optimistic that the insurance industry will also develop further, in line with the increasing economic activity in the national maritime sector.

According to him, by providing incentives to the shipbuilding industry, this has the potential to become a positive catalyst for the growth of the national insurance industry.

Ogi explained that increased activity in the shipbuilding sector will open new opportunities for the insurance industry, particularly in developing products related to the maritime sector.

Several business lines expected to be boosted include marine hull insurance for ship hull protection, marine cargo for goods protection, as well as insurance products related to ship construction and operations.

The growth of such activities, he continued, will also increase the need for risk protection, thereby strengthening the role of the insurance industry in supporting business sustainability in the maritime sector.

“With the increase in maritime sector activities, the insurance industry can play a role in providing risk protection that supports business sustainability,” he said.

It is known that OJK recorded that the insurance industry’s assets as of January 2026 reached Rp1,214.82 trillion, or grew 5.96% year-on-year (yoy).

Meanwhile, general insurance and reinsurance premiums also showed significant growth.