Tugure Reveals Investment Challenges and Opportunities for 2026

PT Tugu Reasuransi Indonesia (Tugure) has shared its perspective on the challenges that could potentially affect investment performance in 2026. Dradjat Irwansyah, Tugure’s Finance Director, stated that global volatility, geopolitical risks, and pressure on the Rupiah’s exchange rate are the primary concerns. Quoted from Keuangan, Dradjat explained that these factors could impact mark-to-market prices and market risk sentiment. Nevertheless, Dradjat also sees opportunities that can be maximised to enhance investment performance in 2026. One of them is by strengthening discipline in Asset Liability Management (ALM) and appropriate duration management to lock in risk-adjusted yields. Additionally, optimising high-quality instruments such as government securities (SBN) or corporate bonds with strong credit ratings is an important strategy to maintain liquidity and capital charge. Another opportunity, according to Dradjat, comes from strengthening the portfolio governance framework so that every return opportunity remains aligned with the company’s liability profile and solvency targets. Tugure recorded investment results of Rp 223.19 billion in 2025. This value represents an increase of 64.19% compared to the same period in the previous year, which was Rp 135.93 billion. This increase, according to Dradjat, was driven by higher returns from investment instruments. Furthermore, Dradjat explained that the main driving factors came from a combination of solid carry yields from the fixed-income portfolio, both SBN and corporate bonds, as well as optimisation of asset allocation and liquidity placement in deposits. The application of good risk management discipline, including ALM, duration management, and instrument selectivity, also contributed to the portfolio’s resilience amid market volatility. Overall, Tugure’s total investment position at the end of 2025 reached Rp 3.8 trillion, with the largest portion in SBN instruments at Rp 1.41 trillion.