The Directorate General of Hajj and Umrah Economic Ecosystem Development (PE2HU) at the Ministry of Hajj and Umrah is strengthening efforts to improve protection for Umrah pilgrims by developing the Umrah Travel Shariah Insurance (ASPU) ecosystem.
MSIG Asia has appointed Mr Ronak Shah as Regional CEO, effective 1 October 2026. In addition to leading the insurer's operations across Southeast Asia, Hong Kong, India and Oceania, Mr Shah will assume regional leadership responsibility for Mainland China, Taiwan and Korea.
Willis, a WTW business, has announced the appointment of Mr Oliver Pryce as Head of Corporate Risk and Broking Southeast Asia; and the promotion of Mr Rupert Roberts to the role of Chief Commercial Officer, Asia. Both appointments are effective 4 January 2027.
Reasuransi MAIPARK Indonesia's operating performance is expected to remain resilient, following a significant improvement in financial results in 2025, according to Fitch Ratings Indonesia. The reinsurer reported an insurance service result of IDR83bn ($4.6m) in 2025 , compared to IDR52bn in 2024, under the new accounting standard, PSAK117.
The engineering insurance segment is expected to remain under pressure through 2026, with its performance continuing to be shaped by conditions in the construction and infrastructure sectors.
AI12, a specialist (re)insurance broker, has appointed Mr Alfie Langley as Head of Cyber.
The Financial Services Authority (OJK) has revealed that 118 insurance and reinsurance companies have met new minimum capital requirements.
The Financial Services Authority (OJK) has announced that 10 insurers were in the process of establishing full-fledged takaful companies as at 29 June 2026.
Indonesia's insurance industry is poised for sustained growth, driven by rising demand for life, health and asset protection as consumers become increasingly aware of the importance of financial security.
Indonesia's general insurance industry is expected to remain under pressure in 2026 despite sustained demand for insurance protection, as rising claims and volatile investment returns continue to weigh on insurers' financial performance.