Indonesia's COVID-19 Vaccination and Economic Resilience Strategy
2°
%
40
30
20
10
0
Manageable Insurance and Pension Risks with Adequate Performance
Insurance and pension funds continue to improve, shown by adequate performance and manageable risks.
is
In October 2022, insurance premiums marked a total increase of IDR21.45 Tn
(mtm) with General and Life insurance added premiums at IDR8.63 Tn and
IDR12.82 Tn, respectively.
General insurance Life insurance
In October 2022, the Investment Adequacy Ratio of both Life Insurance and
General Insurance experienced an increase.
Life Insurance
General Insurance
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
220
200
180
160
140
120
100
80
12.82
60
40
20
8.63
threshold Investment Adequacy Ratio= 100%
Risk-Based Capital (RBC) of the insurance industry remained well above the
minimum threshold with Life Insurance at 464.24% and General Insurance at
313.71% in October 2022.
In October 2022, insurance and pension fund investment values continued
the upward trend and stood at IDR1,427.98 Tn and IDR325.95 Tn,
respectively.
Life Insurance (Lhs)
General Insurance (rhs)
IDR Tn
1000
400
୮
313.71 350
1,500
800
300
1,200
600
464.24 250
900
200
400
150
600
threshold Insurance RBC (rhs)=120%
100
200
threshold Insurance RBC (Lhs)=120%
300
50
0
0
0
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-19
Apr-19-
Jul-19
Oct-19-
Jan-20
Apr-20 -
Jul-20
Oct-20-
Jan-21
Apr-21
Jul-21
Oct-21 -
Jan-22
Apr-22 -
Jul-22
Insurance
Source: Financial Service Authority (OJK) *) provisional figures due to the relaxation on financial institutions' report to OJK because of Covid-19
Pension Funds (rhs)
IDR Tn
1,427.98
400
325.95 350
300
250
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
200
122
Oct-22-
191.22
112.32View entire presentation