Danantara Chief Pushes for Full Completion of State-Owned Insurance Merger by 2026

Danantara and the Ministry of State-Owned Enterprises (BP BUMN) are continuing to drive the transformation of the state-owned insurance industry through a consolidation process involving insurance companies under the umbrella of Indonesia Financial Group (IFG). This move is part of efforts to strengthen the industry structure, improve efficiency, and build healthier and more competitive state-owned insurance firms. In line with this agenda, BP BUMN and Danantara are targeting the completion of the merger process for state-owned insurance companies under IFG by 2026. The consolidation is expected to serve as a foundation for establishing a more integrated and robust state insurance ecosystem capable of responding to evolving market needs. To discuss the progress, Head of BP BUMN and COO of Danantara Indonesia, Dony Oskaria, held a meeting with IFG President Director Hexana Tri Sasongko on Wednesday, 17 June 2026. The discussion focused on aspects of business integration, strengthening governance, optimising capital, and developing synergies between entities that will form part of the post-merger corporate structure. Various strategic steps necessary to ensure the integration process runs effectively and delivers long-term added value were also a primary concern. “This consolidation is an important step to strengthen the state-owned insurance industry so that it becomes healthier, more efficient, and competitive,” Dony said in a statement on Wednesday. The ongoing transformation is expected to produce a stronger business scale, enhance operational efficiency, strengthen underwriting and investment capacity, and expand the company’s ability to provide protection to the public and the business world. Through the strengthening of the state-owned insurance industry structure, BP BUMN and Danantara hope the insurance sector can play an increasingly strategic role in supporting financial system stability, increasing national insurance penetration, and backing Indonesia’s economic financing and development.