Indonesia life premiums rise 5% as claims hit $2.1b

Booked new business premiums reached $1.5b from January to March 2026.

Indonesia’s life insurance industry recorded booked new business premiums of $1.5b (Rp27.90t) in January to March 2026 (Q1 2026), up 5.0% from a year earlier. 

Indonesian Life Insurance Association, or AAJI, said 56 life insurers insured 118.28 million people during Q1 2026, which rose 20.9% year-on-year.

AAJI Chairman Albertus Wiroyo said the figures showed the industry continued to provide financial protection to the public despite economic pressures.

The industry’s total income reached $2.6b (Rp47.63t) in Q1 2026. During the same period, insurers paid $2.1b (Rp38.73t) in claims and benefits, up 1.5% year on year.

Total unweighted premium income was relatively stable at $2.6b (Rp47.27t). Traditional life insurance remained the largest product contributor, generating $1.7b (Rp30.10t) in premiums in Q1 2026. AAJI said this showed that basic protection remained a key part of household financial planning.

By distribution channel, bancassurance remained the largest contributor, with $1.0b (Rp18.54t) in premium income. 

Alternative distribution channels generated $0.8b (Rp14.44t), whilst the agency channel grew 1.2% to $0.8b (Rp14.29t) during Q1 2026.

($1.00 = Rp18,087.34)