IFG Transformation Streamlines 12 Entities
The Ministry of State-Owned Enterprises (BP BUMN), together with BPI Danantara, has carried out a streamlining programme by cutting around 250 SOE entities, generating cost efficiencies of up to Rp50 trillion through July 2026.
Head of BP BUMN and COO of Danantara, Dony Oskaria, said Indonesia Financial Group (IFG) has contributed through the simplification of 12 entities as part of the transformation of the SOE ecosystem.
He also held a meeting with the board of directors of IFG to discuss the acceleration of the streamlining programme, the progress of the holding’s transformation, and the strengthening of governance and efficiency at state-owned insurance companies.
In his directions, Dony stressed that the success of the transformation should be measured not only by the simplification of corporate structures, but also by improvements in the quality of investment management. According to him, many of the problems that have plagued the insurance industry stem from investment placements that are not balanced against liabilities, thereby increasing companies’ risk exposure.
“We are learning from and mapping out the problems that occurred previously. One of the most frequent was misinvestment. Many problems arose because of an imbalance between liabilities and investments. This is what exposed us to considerable risk,” Dony said, quoted from BP BUMN’s official Instagram account on Thursday (23/7/2026).
He also highlighted an imbalance in the investment portfolio that needs to be resolved promptly. Dony noted that the growth of liabilities, unmatched by the performance of investment assets — particularly in the property portfolio — could widen the companies’ financial gap if not addressed quickly.
“We now realise there is an imbalance in our portfolio. I am worried the gap will only grow larger because liabilities keep rising, while there is a property portfolio that has yet to generate sufficient margin to cover those liabilities. This must be resolved quickly,” Dony asserted.
Through the holding transformation and streamlining programme, IFG is being directed to build a more disciplined investment management system, strengthen risk management, and ensure insurance product development is based on sound risk analysis. This step is expected to improve the sustainability of the state-owned insurance industry while preventing investment mistakes from recurring in the future.