OJK Supervises 6 Troubled Insurance Companies and 11 Pension Funds: Here’s the Latest Update

Ogi Prastomiyono
Ogi Prastomiyono (Dok. Ist)


Printable.biz.id – The Financial Services Authority (OJK) has revealed that six insurance and reinsurance companies are currently facing financial issues.

This was stated by Ogi Prastomiyono, Executive Head of Insurance, Guarantee, and Pension Fund Supervision at OJK, during a press conference on the results of the OJK Board of Commissioners Meeting on Tuesday (03/04/2025). However, Ogi did not specify which companies are experiencing these problems.

In addition, Ogi also disclosed that 11 pension funds (dapen) are currently under special supervision by OJK.

"11 pension funds are also under special supervision," Ogi said during the February 2025 OJK Board of Commissioners Meeting press conference on Tuesday (03/04/2025).

This measure is part of stricter financial sector oversight to ensure its stability.

To maintain compliance in the insurance, guarantee, and pension fund industries, OJK has imposed various sanctions on financial service institutions that violate regulations. So far, OJK has issued 45 warnings and 15 fines.

Despite some companies facing difficulties, the insurance industry as a whole continues to show growth. As of January 2025, total assets in the insurance industry reached IDR 1,146.47 trillion, an increase of 2.14% compared to the previous year (year-on-year/yoy).

Specifically, commercial insurance assets grew by 2.53% to IDR 925.91 trillion, while non-commercial insurance assets increased slightly by 0.55% to IDR 220.56 trillion.

However, this growth is not evenly distributed. Commercial insurance premiums actually declined by 4.1% yoy, dropping to IDR 34.76 trillion. This decline was primarily driven by a 17.4% yoy decrease in general insurance and reinsurance premiums, which fell to IDR 15.62 trillion. On the other hand, life insurance premiums increased by 10.39% yoy to IDR 19.14 trillion.

Despite challenges faced by some companies, Ogi assured that the insurance industry remains well-capitalized. This is reflected in the solvency ratio or risk-based capital (RBC), which remains well above OJK’s minimum requirement of 120%.

As of January 2025, the RBC for life insurance stood at 448.18%, while the RBC for general insurance and reinsurance reached 317.77%. These figures indicate that most insurance companies still have sufficient financial capacity to meet their obligations to policyholders.

Through ongoing supervision and enforcement, OJK aims to keep Indonesia’s insurance and pension fund industries healthy and stable, ensuring the protection of public interests.

Posting Komentar