OJK Reports Growth in Insurance and Pension Fund Assets Amid Mixed Sector Performance
Jakarta, CNBC Indonesia – The Financial Services Authority (OJK) recorded that the performance of the Insurance, Suretyship and Pension Fund (PPDP) industry showed growth in June 2026, although a number of business lines were still contracting.
Ogi Prastomiyono, Chief Executive of Insurance, Suretyship and Pension Fund Supervision at OJK, revealed that the total assets of the insurance industry as of June 2026 reached Rp1,184.72 trillion, growing 1.86% year on year (yoy) compared to the same position last year.
“For commercial insurance, assets were recorded at Rp967.7 trillion, up 2.97% yoy,” Ogi said at a press conference on OJK’s Monthly Board of Commissioners Meeting (RDKB), held virtually on Tuesday (4/8/2026).
In terms of performance, accumulated premium income from commercial insurance up to June 2026 stood at Rp270 trillion, growing 2.84% yoy. However, this growth was underpinned by the performance of life insurance, which rose 8% yoy to Rp94.83 trillion, whilst general insurance and reinsurance actually contracted 3.34% yoy to Rp76.15 trillion.
Meanwhile, for non-commercial insurance comprising BPJS Kesehatan, BPJS Ketenagakerjaan and insurance for civil servants, the military and police, total assets were recorded at Rp216.97 trillion, a contraction of 2.8% yoy.
In the pension fund sector, assets grew 6.47% yoy to Rp1,680.57 trillion. In detail, voluntary pension funds recorded assets of Rp407 trillion, growing 4.0% yoy, whilst pension contributions as of May 2026 grew 4.94% yoy. Mandatory pensions, which include the Old-Age Security (JHT) programme, BPJS Ketenagakerjaan pensions, and old-age savings for civil servants, the military and police, recorded assets of Rp1,273.24 trillion, up 7.26% yoy.
In contrast to the other two sectors, the suretyship industry contracted 3.05% yoy to Rp45 trillion in June 2026, continuing the 2.95% yoy contraction recorded in May 2026.
OJK is currently drafting an OJK Regulation (RPOJK) on good corporate governance for the three PPDP sectors — insurance, suretyship and pension funds — as part of efforts to strengthen and develop the industry.
Regarding the implementation of PSAK 117 on insurance contracts, OJK has also decided to extend the deadline for submitting first-half financial reports from 31 July at the latest to 31 August 2026. This leniency was granted so that companies have more time to reconcile their data and information.
“Nevertheless, companies must still ensure that reports are complete, accurate, consistent and in accordance with the prevailing laws and regulations,” Ogi stressed.
In terms of rule enforcement, OJK continues to push for increases in minimum equity for insurance and reinsurance companies in the first phase. As of June 2026, 120 out of 144 companies, or 83.3%, have met the minimum equity requirement. Meanwhile, in the suretyship sector, 18 out of 24 companies, or 79%, have met similar requirements.
Regarding the resolution of problems at financial institutions, as of 27 July 2026 OJK has placed eight insurance and reinsurance companies as well as eight pension funds under special supervision. Ogi emphasised that the supervision is carried out in accordance with prevailing laws and regulations, and in order to protect the interests of policyholders and participants.
OJK is also continuing to investigate suspected unlicensed insurance broking practices. To date, investigations have been carried out into 15 entities suspected of conducting insurance and reinsurance broking activities without an OJK licence. Throughout the first half of 2026, OJK has also revoked three Registration Certificates (STTD) of insurance agents related to suspected criminal acts of conducting insurance business without a licence.
In the pension fund sector, OJK has set a new policy through a decision of the Board of Commissioners Member (ADK) concerning pension benefit payments. First, pension benefits derived from severance pay, or benefits for widows/widows/orphans, may be paid periodically or in a lump sum. Second, pension funds may pay benefits in a lump sum without being restricted by certain provisions. Third, before carrying out such pension benefit payments, pension funds must first obtain OJK approval for amendments to the pension fund’s rules.