Insurance Industry Assets Reach IDR 1,200 Trillion, OJK Cites Stable Growth

Jakarta, CNBC Indonesia - The Head of the Supervision Department for Insurance, Guarantee, and Pension Funds at the Financial Services Authority (OJK), Ogi Prastomiyono, revealed that the assets of the insurance industry in the country will reach IDR 1,200 trillion in 2025, with stable growth of 6%.

This figure comprises commercial and social insurance, and is projected to continue growing steadily at 5-7% this year. Last year, commercial insurance premiums reached IDR 331 trillion, a decrease of 1.46%.

“There is improvement in product distribution and also the influence from the global side which has somewhat affected the life insurance industry,” said Ogi at the Insurance Forum 2026, Thursday (26/2/2026).

Meanwhile, from the claims side, management by insurance companies has begun to stabilise, both in terms of governance and supervision. The OJK is also improving asset management from a regulatory perspective, to develop the insurance ecosystem and protect consumers.

“We are paying close attention to the protection and supervision of insurance product design, conducting monitoring of approved products and also closely monitoring approved products,” Ogi concluded.

He added that the OJK is also discussing a policy guarantee program as mandated by law. As such, a policy guarantee program will be implemented no later than 2028.

“We are in discussions with the LPS (Indonesia Deposit Insurance Corporation) to enable the acceleration of the implementation of the policy guarantee program in 2027,” he said.