Jakarta – As global economic uncertainty continues, Indonesia’s insurance sector has shown remarkable resilience, with several companies standing out for their strong financial performance, service innovation, and ability to navigate complex risks. In July 2025, CNBC Indonesia Research released its list of the Top 10 Insurance Companies in Indonesia, highlighting those firms that have maintained robust positions amid tightening interest rates, inflationary pressure, and shifting trade policies.
The ranking, compiled from financial reports as of March 2025, evaluated more than 50 OJK-registered conventional insurers. The assessment was based on seven key indicators: total assets, liabilities, equity, gross written premiums, net profit after tax, investment adequacy ratio, and expense ratios (claims, operations, and commissions) relative to net premium income.
Importantly, this list does not rank companies in a strict order but showcases 10 key players across various segments — life, general, and reinsurance — each excelling in specific areas.
Key Players from the 2025 List Include:
- PT MSIG Life Insurance Indonesia Tbk (MSIG Life): Known for its comprehensive portfolio in life, endowment, unit-linked, and health insurance, MSIG Life has also invested heavily in digital services. Its VEGA platform simplifies policy and claim processes, while its MyFit+ app encourages healthier lifestyles among policyholders. As of end-2024, MSIG Life managed over IDR 14 trillion in assets.
- PT Asuransi Tugu Pratama Indonesia Tbk (TUGU): A subsidiary of Pertamina, TUGU dominates the corporate general insurance segment — particularly in energy, oil & gas, and marine hull coverage. Its strength lies in industry-specific underwriting expertise and risk capacity.
- PT Reasuransi MAIPARK Indonesia: Indonesia’s sole reinsurer specializing in natural disasters. MAIPARK protects local insurers from earthquake and catastrophic risks, offering highly specialized disaster underwriting capabilities.
The CNBC Indonesia Research methodology applies quantitative and qualitative metrics benchmarked against industry averages and statistical variance. This scientific approach ensures fair comparisons across firms regardless of size.
Insurance in a High-Risk Era
Amid rising global protectionism, climate volatility, and shifting monetary policy, the insurance sector must remain adaptable. The featured companies demonstrate a combination of financial strength, innovation, and commitment to long-term sustainability — positioning them as key pillars in Indonesia’s economic and social safety net.
