The general insurance industry's premium growth slowed in the first half of 2026, as weaker performance across several corporate business lines weighed on the sector amid challenging global and domestic macroeconomic conditions.
Insurance observer Irvan Rahardjo said the moderation in premium growth was largely driven by weaker activity in several corporate sectors, which reduced demand for commercial insurance coverage, reported Kontan ID.
Mr Rahardjo premium growth continued to be supported by three key business lines—property, motor and credit insurance—which remained relatively resilient and were the largest contributors to the industry's premium income during the first half of 2026.
However, several other segments recorded declines, including miscellaneous, satellite and energy insurance, as weaker economic conditions dampened demand.
He added that the slowdown in premium growth was compounded by elevated claims in certain business lines, volatility in financial markets, global economic uncertainty and insurers' efforts to comply with the Financial Services Authority's (OJK) minimum equity requirements.