Assets of BPJS and Civil Servant, Military & Police Insurance Reach Rp218.37 Tril

JAKARTA, Jakartaweekly.com—Assets of non-commercial insurance programs, comprising BPJS Kesehatan, BPJS Ketenagakerjaan, and insurance programs for civil servants, the Indonesian Military (TNI), and the National Police (Polri), covering work accident and death benefits, reached Rp218.37 trillion as of August 2026.

Assets held by BPJS Kesehatan, BPJS Ketenagakerjaan, and the insurance programs for civil servants, TNI, and Polri declined by 1.85% year-on-year (yoy). In July 2026, these assets also contracted by 2.44% yoy.

Ogi Prastomiyono, Chief Executive of the Insurance, Guarantee and Pension Fund Supervision Department at the Financial Services Authority (OJK), explained that despite the decline in non-commercial insurance assets, total assets in the insurance industry grew by 3.56% yoy as of August 2026.

Total insurance industry assets reached Rp1,200.55 trillion in August 2026. Despite the annual increase, assets declined by 0.06% compared with the end of last year.

“These changes were partly influenced by fluctuations in investment assets, particularly equity instruments,” Ogi said at a press conference on Monday, October 5, 2026.

In the commercial insurance sector, total assets reached Rp982.18 trillion, up 3.59% yoy. Meanwhile, cumulative insurance premium income reached Rp255.40 trillion in August 2026, growing by 2.66% yoy.

This comprised life insurance premiums of Rp125.75 trillion, up 7.01% yoy, while general insurance and reinsurance premiums contracted by 2.35% yoy to Rp99.61 trillion.

The life and general insurance industries recorded an aggregate Risk-Based Capital (RBC) ratio of 471.57%. Meanwhile, the reinsurance industry recorded an RBC ratio of 331.52%. Both ratios remained above the regulatory threshold of 120%.

In the pension fund industry, total pension fund assets grew by 6.99% yoy as of August 2026, reaching Rp1,724.14 trillion. In July 2026, pension fund assets grew by 6.70% yoy. Ogi also explained that total pension fund assets increased by 2.66% year-to-date (YTD) as of August 2026.

“This was driven by an increase in investment assets in government securities,” he said.

Voluntary pension programs recorded total assets of Rp412.39 trillion, representing growth of 4.31% yoy. This was higher than the 4.24% yoy growth recorded in July 2026.

Meanwhile, mandatory pension programs, comprising the old-age security and pension programs managed by BPJS Ketenagakerjaan, as well as old-age savings and accumulated pension contributions for civil servants, TNI and Polri, recorded total assets of Rp1,311.75 trillion, up 7.86% yoy. This was higher than the 7.51% yoy growth recorded in July 2026.

In the guarantee industry, total assets contracted by 5.17% yoy and 2.55% YTD to Rp46.30 trillion in August 2026. The contraction was deeper than the 5.05% yoy decline recorded in July 2026.

“OJK projects that the performance of the insurance, guarantee, and pension fund (PPDP) sector will continue to grow positively through the end of 2026, although at a more moderate pace than initially targeted at the beginning of the year, amid mounting pressures on the global economy that are affecting financial markets,” Ogi added.

The insurance sector is projected to grow by 2%–4%, while pension fund programs are expected to grow by 4%–6%. In the guarantee sector, asset growth is projected to reach