Commercial Insurance Premiums Reach Rp 139.54 Trillion as of May 2026, OJK Reports 0.67 Percent Growth

The Financial Services Authority (OJK) reported that accumulated commercial insurance premium income grew 0.67 percent year-on-year (yoy), reaching Rp 139.54 trillion in the period up to May 2026. The details show life insurance premiums grew 5.87 percent (yoy) to a value of Rp 76.79 trillion, while general and reinsurance premiums contracted by 5.03 percent (yoy) to a value of Rp 62.76 trillion. Ogi Prastomiyono, Chief Executive of Insurance, Guarantee and Pension Fund Supervision at OJK, stated that the life insurance industry and the general and reinsurance industry collectively recorded a strong risk-based capital (RBC) level. The RBC for the life insurance industry was recorded at 481.20 percent, while general and reinsurance stood at 319.12 percent, well above the minimum threshold of 120 percent. Commercial insurance assets in May 2026 reached Rp 977.81 trillion, an increase of 4.05 percent (yoy). Meanwhile, non-commercial insurance assets, comprising BPJS Kesehatan and BPJS Ketenagakerjaan, or job loss insurance, as well as insurance programmes for civil servants, the military, and police related to work accident and death insurance, were recorded at Rp 219.23 trillion, a contraction of 2.07 percent (yoy). Thus, total insurance industry assets, consisting of commercial and non-commercial insurance, reached Rp 1,197.04 trillion, up 2.87 percent (yoy). On the pension fund side, total pension fund assets as of May 2026 grew 7.71 percent (yoy) to a value of Rp 1,693.37 trillion. For voluntary pension programmes, total assets recorded growth of 4.94 percent (yoy) to a value of Rp 410.65 trillion. Meanwhile, total assets for mandatory pension programmes, consisting of the old-age security and pension security programmes of BPJS Ketenagakerjaan as well as the old-age savings and accumulated pension contributions programmes for civil servants, the military, and police, reached Rp 1,282.72 trillion, growing 8.63 percent (yoy). The OJK also noted that the asset value of guarantee companies contracted by 2.95 percent (yoy) to Rp 45.92 trillion in May 2026.