Life Insurance Investment Performance Surpasses Premiums in 2025
Data from the Indonesian Life Insurance Association (AAJI) shows that the investment performance of the life insurance sector was significantly better than premium income throughout 2025. Life insurance companies recorded an extraordinary increase in the investment sector.
As reported by Kontan, the life insurance industry achieved a 103.1% year-on-year (YoY) growth in investment returns, reaching Rp 47.32 trillion in 2025. However, on the other hand, life insurance premium income experienced a 1.8% YoY contraction, totalling Rp 181.27 trillion over the same period.
A similar situation was faced by PT Zurich Topas Life (Zurich Life). Based on the company’s financial report, Zurich Life’s investment results surged 207.77% year-on-year, reaching Rp 131.05 billion. Nevertheless, the company’s premium growth was only recorded at 10.07% YoY, totalling Rp 952.83 billion in 2025.
In response to this situation, Director of Investment and Risk Management at Zurich Life, Santy Gui, outlined the company’s efforts. Santy stated that Zurich Life is committed to maintaining balanced growth between premiums and investment results in 2026. This is done to ensure business sustainability and stable growth.
Santy Gui emphasised the importance of both aspects to the company. “Premium growth and investment results are two important pillars of the company’s performance,” said Santy Gui to Kontan on Friday (3/4).
According to Santy, premiums are the company’s main source of income, so efforts to increase premiums remain the top priority. Meanwhile, investments play a crucial role in ensuring asset and liability matching, while supporting income and the company’s ability to meet obligations to customers.
Furthermore, Santy explained that Zurich Life is implementing several investment management strategies for 2026. The company’s non-unit link investment management strategy for that year will focus on implementing Asset Liability Management (ALM).
“Those efforts prioritise investments in stable instruments with high liquidity, such as government securities,” said Santy. Looking ahead, Santy added that they remain open to opportunities for diversification into other instruments offering attractive returns, but with measured risk levels, in line with existing market dynamics and developments.