OJK Wants Insurance Sector Involved in 3 Million Houses Programme

The Financial Services Authority (OJK) is currently in discussions with the government to involve the insurance sector in the 3 Million Houses programme. The Executive Head of OJK’s Insurance, Guarantee, and Pension Fund Supervision, Ogi Prastomiyono, stated that the involvement of the insurance sector could provide protection for participants against various existing risks.

According to Ogi, financing for decent housing can take a long time, from 15 to 20 years. “In that period, there are risks that may occur, such as the risk if the debtor passes away, property risk related to damage to the financed house, earthquake risk, fire risk, flood risk; these must also be covered,” he told reporters at The Ritz-Carlton, Jakarta, on Monday, 13 April 2026.

Ogi assessed that risk coverage should not be viewed merely as a cost burden, but as long-term risk mitigation. With insurance, the beneficiaries of the 3 Million Houses programme can be protected from various risks.

Regarding the technical aspects, Ogi said the insurance scheme for the 3 Million Houses is still being discussed. “Whether the premiums are borne by the government through subsidies or blended into the people’s housing facility programme,” he said.

As of the end of February 2026, OJK recorded that the total assets of the insurance, guarantee, and pension fund sector reached Rp 2,992 trillion, or grew by 9.94% year-on-year. Meanwhile, the investment value reached Rp 2,313 trillion, or grew by 7.94% year-on-year. The largest contribution came from the pension fund sector at Rp 1,700 trillion, while insurance was Rp 1,219 trillion.