Fitch Ratings has said that the proposed merger of three Indonesian reinsurers could dilute the capital profile of the domestic reinsurance market in the absence of fresh capital inflows.
Nearly 30% of Indonesians say that they engage more with their insurance policies when loyalty programmes are offered according to a new survey by FWD Insurance.
PT AIA Financial (AIA) and PT Bank Central Asia (BCA) have officially launched Proteksi Whole Life Income Maksima (Hoki), a life insurance product designed to provide both protection and annual cash benefits (living benefits) until the age of 99.
Premium income in the Indonesian insurance market inched up by 0.65% year-on-year (yoy) to IDR166.26tn ($10.15bn) in the first half of 2025, according to data from the Financial Services Authority (OJK).
Eight out of the nine reinsurance companies established in Indonesia have met the first phase of minimum capital requirements (MCR) for 2026, according to data from the Financial Services Authority (OJK) as of the end of May 2025.
Discussions are underway among stakeholders in the reinsurance sector to develop a plan for the consolidation of state-owned reinsurers in Indonesia.
The Financial Services Authority (OJK) continues to encourage Shariah insurance companies to develop products for the halal industry, in line with the 2023-2027 roadmap for the development of the Indonesian Insurance Industry.
Pemeringkat Efek Indonesia (Pefindo), the first independent credit rating agency in Indonesia, has granted a financial strength rating of 'idA-' with a 'Stable' outlook to Reasuransi Syariah Indonesia.
Prudential Indonesia has launched PRUSmart Plan, its latest protection innovation which provides certainty of benefits with a minimum monthly premium of IDR2 million in the form of annual cash benefits of up to 25% of the annual premium along with its increase, and the end of accountability benefits at the end of accountability date in the 20th policy year to 920% of the annual premium in accordance with the chosen premium payment period.
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.