Sompo Insurance Indonesia has commenced operations of PT Sompo Insurance Sharia (Sompo Syariah), a standalone general insurance company established in accordance with Indonesia's Financial Services Authority regulations. The launch aims to strengthen the insurer's presence in the country's syariah financial sector through specialised services, innovative products and insurance solutions that comply with syariah principles. Sompo Indonesia has offered syariah-based asset protection for individuals and businesses since 2017.
The establishment of Sompo Syariah is intended to enable a more focused approach to general insurance protection while strengthening governance and developing solutions tailored to customers' needs. The company will also seek to expand access to syariah insurance through education, outreach and product innovation, supporting the development of Indonesia's Islamic financial services sector.
The launch comes amid growth in Indonesia's general syariah insurance market. General syariah insurance assets increased by 13.77% year on year to IDR10.8tn in the first quarter of 2026, according to the Indonesian Sharia Insurance Association. Sompo Syariah aims to build on this growth by providing protection solutions that meet evolving customer needs while maintaining compliance with syariah principles.