Indonesian takaful companies are expected to focus on balancing earnings and meeting higher capital requirements, which would come into effect in 2026 and be tightened further by 2028, says Fitch Ratings.
Zurich General Takaful Indonesia (Zurich Syariah) has reported growth in gross contribution income to more than IDR1.4bn ($86,000) from travel insurance products during the 2025 hajj period.
The Government of Indonesia, UNDP and Swiss Re have come together to setup a Marine Biodiversity Trust to create insurance solutions for coral reef protection and restoration in Indonesia.
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.