The Indonesian government has initiated plans for a deposit insurance scheme for cooperatives in the country.
Insurance policyholders in Indonesia will be required to cover at least 10% of the total outpatient or inpatient claims incurred at medical facilities, according to new rules set by the Financial Services Authority (OJK) to implement risk-sharing between insurers and policyholders. The new stipulation will come into effect from 1 January 2026.
South Korean life insurance company, Hanwha Life Insurance Indonesia recorded payment of claims and benefits of IDR 35.48bn ($2.17m) in the first quarter of 2025. This is an increase of 12.67% compared to the same period last year of IDR 31.49bn.
State-owned Reasuransi Indonesia Utama (Indonesia Re), the largest reinsurer in Indonesia, has highlighted the importance of strengthening the fundamentals of the domestic insurance industry to address the balance of payments deficit in the sector.
Mobile services, data and technology company FingerMotion, has announced that it will deploy and scale its proprietary AI-powered insurance risk rating platform in the Indonesian market.
A number of life insurance companies, including PT MSIG Life Insurance Indonesia and PT Asuransi Ciputra Indonesia, recorded an increase in health claim payments in the first quarter of 2025, even though the industry's claim ratio decreased.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
Many factors influence the dynamics in Indonesia's broker-driven (re) insurance sector, according to UIB Asia Reinsurance Brokers CEO Francis Savari.
The Financial Services Authority (OJK) urged non-bank financial services institutions to stay alert to potential risks arising from the ongoing economic slowdown.
Themed 'Brokers 4.0: Getting Future Ready for the Next Decade', the 13th Asia Insurance Brokers' Summit kicked off in Jakarta, Indonesia, on 24 April 2025.