Video: Insurance Reform, OJK Issues New Regulations and the Industry Must Comply
Video: Insurance Reform, OJK Issues New Regulations & the Industry Must Comply
Jakarta, CNBC Indonesia - CNBC Indonesia held the Insurance Forum with the theme “Optimizing Insurance Protection & New Directions for the Development of Unit-Linked Products in Indonesia” as a forum for discussion for regulators, associations and insurance professionals to find solutions in encouraging the growth and acceleration of the transformation of the national insurance business.
The Executive Head of Supervision of Insurance, Guarantee and Pension Funds mentioned 2025 as a year full of challenges for the insurance industry along with efforts to encourage structural improvements in the insurance sector.
The OJK recorded that the assets of the insurance industry reached IDR 1,201 trillion with stable growth of 6% per year and in accordance with the OJK’s target and in 2026 it is projected to grow by 5-6%.
From the premium side, for commercial insurance, it was recorded at IDR 331 trillion or a decrease of 1.46% (yoy) due to life insurance products as an impact of product and distribution improvements and global sentiment. Meanwhile, claims decreased by 4.85% (yoy) or IDR 216 trillion and in terms of strengthening governance, the OJK has been improved through POJK 26 and 27/2025.
The OJK also ensures efforts to strengthen consumer protection and the OJK is currently discussing the development of the Insurance Policy Guarantee program as part of the mandate of the PPSK Law. On the other hand, the OJK encourages strengthening the competence of directors to insurance company agents and improving data-based governance of insurance policies that must be submitted to the OJK.
Regarding Risk Management, the OJK has implemented PSAK 117 regarding insurance contracts and PSAK 109 regarding financial instruments. On the other hand, improvements and reviews of PAYDI (Investment-Linked Insurance Products) or Unit Link and health insurance products are also being carried out.
What are the performance records and challenges in improving the insurance industry? For more details, see the dialogue between Syarifah Rahma and the Executive Head of Supervision of Insurance, Guarantee and Pension Funds of the Financial Services Authority (OJK), Ogi Prastomiyono in the Insurance Forum 2026, CNBC Indonesia (Thursday, February 26, 2026)