The insurance industry in Indonesia had a varied performance in February 2026. The life insurance sector recorded limited growth in premium income, while the general insurance and reinsurance industry showed a more significant increase.
Rising medical inflation in recent years has placed increasing pressure on the performance of health insurers across the Indonesian insurance industry.
The Indonesian insurance industry is facing greater and increasing risks amid rising geopolitical tensions, according to the Indonesian Financial Services Authority (OJK).
The impact of the new health insurance regulation that will take effect from 22 March 2026 will only be discernible in the middle of this year, according to Mr Ogi Prastomiyono, Chief Executive of the Insurance, Guarantee, and Pension Fund Supervisory Unit of the Financial Services Authority (OJK).
QBE Re has appointed Mr Tanaka Soichiro as Head of Southeast Asia. In this newly created role, he will lead underwriting strategy for Southeast Asia, overseeing portfolio management and growth opportunities as the reinsurer continues to expand in Asia.
The life insurance industry recorded strong growth in 2025, with total revenue reaching IDR238.71tn ($14.2bn), representing a 9.3% y-o-y increase, driven largely by solid investment performance despite ongoing economic volatility.
Global trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was made before 28 February when the US-Israel vs Iran military conflict began.
Indonesia's Financial Services Authority (OJK) noted the performance of the insurance industry, underwriting, and pension fund (PPDP) remained stable in early 2026, supported by a level of solvency that was far above the minimum threshold. But behind the stability, there is a fairly sharp divergence of performance between the life insurance line and the pension fund.
Prudential Indonesia has launched PRUMapan, a traditional life insurance product with Mapan Fund Benefits designed to help Millennials and Gen Z prepare long-term financial planning in an affordable, flexible, and accessible way.
The total premiums generated by the Indonesian non-life market grew to IDR112.81tn ($6.69bn) in 2025, according to Ms Trinita Situmeang, Deputy Chairperson for Statistics and Research at the General Insurance Association (AAUI).