Indonesia insurance sector shows positive growth prospects

The Indonesian insurance sector shows positive outlooks across several segments. Energy insurance is expected to grow alongside increased investment in the energy sector, though OJK Executive Head of Insurance Supervision, Ogi Prastomiyono, noted that global geopolitical dynamics and energy price fluctuations remain significant challenges.

In the credit life insurance segment, AXA Mandiri anticipates promising prospects through the end of 2026. Director Uke Giri Utama attributed this to growing banking financing and increased public awareness regarding financial protection. AXA Mandiri reported a 150% year-on-year growth in credit life insurance premium income during the first semester of 2026, driven by synergies with Bank Mandiri and its subsidiaries.