JAKARTA, Jakartaweekly.com – The Indonesia Financial Service Authority (OJK) recorded that assets under management from BPJS Health and Employment, as well as insurance programs for civil servants (ASN), the Indonesian Military (TNI), and the National Police (Polri) related to work accident and death benefits, reached Rp215.83 trillion as of July 2026. 

The figure represents a 2.8% decline compared with the total assets under management a year earlier. 

The decline came amid an increase in assets under management across the overall insurance industry. As of July 2026, total insurance industry assets stood at Rp1,172.90 trillion, up 1.59% year-on-year. However, the figure was down 1.08% year-to-date (ytd). 

“The changes were partly influenced by movements in investment assets, particularly equity instruments,” OJK Chief Executive for Insurance, Guarantee Institutions, and Pension Funds Supervision Ogi Prastomiyono said during press conference on Monday, September 7, 2026. 

In the commercial insurance sector, total assets under management reached Rp957.07 trillion, an increase of 2.54% yoy. This consisted of life insurance premiums, which grew 7.76% yoy to Rp111.44 trillion, and general insurance and reinsurance premiums, which declined 3.04% to Rp88.36 trillion. 

The life insurance industry and the general insurance and reinsurance industry recorded aggregate Risk-Based Capital (RBC) ratios of 455.23% and 322.01% respectively, both well above the 120% regulatory threshold. 

Meanwhile, total pension fund assets reached Rp1,6999,99 trillion as of July 2026, growing 6.70% yoy, compared with 6.47% yoy growth in June 2026. Total pension fund assets also grew 1.22% ytd as of July. 

“This was driven by increase in investment assets in government securities,” Ogi explained. 

For voluntary pension programs, total assets grew 4.24% yoy to Rp409.19 trillion, compared with 4.06% yoy growth in June 2026. 

For mandatory pension programs, which comprise the BPJS Employment Old Age Security (JHT) and Pension Security (JP) programs, as well as old-age savings and accumulated pension contributions for ASN, TNI, and Polri personnel, total asset reached Rp1,290.80 trillion, growing 7.51% yoy. In June 2026, the programs recorded 7.26% yoy growth. 

For guarantee companies, total assets contracted 4.64% yoy and 4.30 ytd in July 2026, reaching Rp60.48 trillion. In June 2026, assets had contracted 1.87% yoy. 

119 Insurance Companies Meet 2026 Minimum Equity Requirement

Furthermore, OJK reported that as of July 2026, 119 out of 145 insurance and reinsurance companies had met the minimum equity requirements that must be fulfilled by the end of 2026. 

Conventional insurance companies are required to have minimum equity of Rp250 billion, while Syariah insurance companies must have Rp100 billion. Reinsurance companies are required to have Rp500 billion equity, while Islamic reinsurance companies must have Rp200 billion. 

The equity requirement must be fully met no later than December 31, 2026. 

Meanwhile, 75% of guarantee companies had also met the minimum equity requirement set for the end of 2026. This means six guarantee companies still need to fulfill the requirement by December 31, 2026.