BTN Wants to Acquire an Insurance Company, Has Asked for Permission from Danantara

JAKARTA - PT Bank Tabungan Negara Tbk (BBTN) or BTN is in the process of submitting a proposal to Danantara Indonesia, in order to obtain permission to acquire an insurance sector company in 2026.

"Oh, we are still pushing the government in this case, Danantara, for us to be able to acquire one company that is insurance-based," said BTN President Director Nixon L.P. Napitupulu when met after the Hearing Meeting (RDP) with Commission VI of the DPR RI at the Jakarta Parliament Complex, quoted by Antara, Monday, January 26.

Regarding the urgency of acquiring an insurance company, Nixon explained that currently mortgage insurance (mortgage insurance) is needed, which is a type of insurance that protects the lender (bank/creditor) from financial losses if the borrower fails to pay (default) the installment of the Home Ownership Credit (KPR).

"Because we really need mortgage insurance today. Because if the current one is there is property insurance and insurance what is the name of the soul, right," said Nixon.

However, his party wants to create an insurance company that can reduce the premium cost for KPR customers, so that its presence will provide protection for banks/creditors and KPR customers/debtors.

"We want it to be packaged into one kind of credit guarantee that will be cheaper later. Because if the premium is expensive, it's a pity for the mortgage. That's all." said Nixon.

Regarding this acquisition plan, he explained that it was only in the company's Business Plan (RBB) phase, and was asking for a willingness of time from Danantara to be able to listen to their proposals.

"We just put in the RBB, but we haven't presented it, we are asking for time from Danantara," said Nixon.

Nixon ensured that the implementation of the acquisition of the insurance company was targeted this year, as the company's business plan.

In 2026, BTN has prepared a number of corporate actions, including plans to establish a subsidiary in the general insurance sector with a capital requirement of IDR 250 billion, which is targeted to be realized in the second semester of 2026.

Then, establish a subsidiary in the financing company (multifinance) sector with an investment value of around Rp3-5 trillion, with a target to be realized in the second semester of 2026

In addition to establishing a subsidiary, BTN plans to strengthen its capital with a value of up to Rp2 trillion, which is planned to be realized in the second semester of 2026.

Then, issue bonds or wholesale funding with a value of up to Rp4 trillion, which will be implemented gradually in the first semester to the second semester of 2026.