Published: September 16, 2026
Insurance
Three New Sharia Life Insurance Licences: Is 2026 Reshaping Indonesia’s Market?
OJK issued licences to Panin Dai-ichi Life Sharia, Central Asia Raya Syariah and AXA Sharia Life Insurance within days. The wave reflects accelerating spin-offs ahead of the end-2026 deadline—but new legal entities do not automatically create new demand.
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Insurance
Reinsurance Premium Falls as Claims Rise
Indonesia’s reinsurance premium declined by roughly 16% in the first half of 2026 while claims increased more than 26%. The story is not simply shrinking business: global pricing, insurer retention, legacy claims and risk-capacity design are all changing simultaneously.
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Insurance
New Business Rises, Retention Becomes the Test
Indonesia’s life-insurance new-business premium grew double digits in the first half of 2026 and the number of insured people increased sharply. The next test is whether growth translates into durable protection through retention, persistency and relevant products.
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Insurance
A 99.6% Claims Ratio Puts Credit Insurance Under Pressure
Credit-insurance premiums grew 9.3% in the first half of 2026, but claims rose 32.7%, almost matching premiums. A 99.6% claims ratio does not mean the line lost 99.6%, but it raises serious questions about pricing, underwriting, data and risk sharing.
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