Zurich Syariah Targets Double-Digit Growth in 2026

Zurich Syariah is targeting double-digit growth in 2026, despite shadows of Middle Eastern conflict during the first quarter. Chief Executive Officer of PT Zurich General Takaful Indonesia (Zurich Syariah) Hilman Simanjuntak stated that the company aims for business growth of at least 17 per cent, consistent with 2025 performance.

“If I had my way, it would be at least the same as last year, we shouldn’t let growth be any smaller,” he said when met in Jakarta on Monday, 9 March 2026.

Hilman said total Islamic insurance premiums reached Rp600 billion in 2025. The projection for this year reflects conditions in the first and second quarters of Indonesia’s economy, which faced considerable headwinds before accelerating in subsequent quarters through to year-end.

The business portfolio that most supported performance last year came from general motor vehicle insurance. Nevertheless, motor vehicle insurance also follows the growth trend of the automotive industry.

To date, Hilman said, Zurich Syariah still leads the market in Islamic general insurance for motor vehicles. “If we want to grow even higher, of course it must come from other products, entering the micro segment, but our property division also has aspirations to continue growing,” he said.

Zurich Syariah also provides umrah travel insurance services as one of its flagship products. The current challenge for this product stems from ongoing Middle Eastern conflicts, causing many journeys to experience disruptions and even cancellations.

However, at present, Hilman said, claims submissions for travel to that region have not been seen as significant. “As for how large the claims are, how many there are, I haven’t yet received that data,” he said.

Hilman stated that in both Zurich Syariah and conventional travel policies, war risk is one of the exclusions. However, claims-eligible incidents include travel disruptions, medical treatment during travel, and baggage damage.