As of April 2025, total credit insurance premiums reached IDR 6.31tn ($394.38m), marking a 5.63% year-on-year decline, according to the Financial Services Authority (OJK), reported an Indonesia news site.
However, credit insurance remains as one of the main contributors in the general insurance industry.
"Credit insurance is still one of the largest contributors to the general insurance industry with a contribution of 14.13% of the total general insurance premiums, ranking third after the property and motor vehicle business lines,” OJK chief executive of the Insurance, Guarantee and Pension Fund Supervisory Agency Ogi Prastomiyono said.
He noted that future projections for credit insurance will largely depend on lending trends in the banking sector.