Indonesia's Investment Ecosystem Is Stable, Total Assets Of The Life Insurance Industry Grow Positively

Photo: (Doc. AAJI)

JAKARTA - The Indonesian Life Insurance Association (AAJI) reported the total assets recorded until the end of December 2023.

Of the 56 life insurance companies that reported, AAJI noted that the total assets of the life insurance industry grew 0.7 percent with a value of Rp614.61 trillion.

Head of the AAJI Investment Department, Rahmat Syukri, said that a stable investment ecosystem in 2023 will give confidence to investors to place their funds in various investment instruments.

Until the end of December 2023, the total investment in the life insurance industry reached IDR 541.17 trillion, an increase of 0.8 percent compared to 2022.

"Our total investment in SBN until the end of 2023 reached IDR 183.23 trillion, up 28.2 percent compared to 2022," he explained in his statement, Tuesday, February 27, 2024.

Syukri said that this total investment dominates the total investment in life insurance by 33.9 percent, according to regulations that encourage more fund placement in SBN.

In addition, he sees SBN as suitable for the long-term contract characteristics of life insurance, and this increase strengthens the support of the life insurance industry in the government's long-term development.

OJK has set the portion of life insurance investment placements and we are committed to complying with these regulations. This is evidenced by the increase in the investment results of the life insurance industry by 46.2 percent to a total of IDR 32.03 trillion.

"We always prioritize the principle of prudence and make adjustments to investment placement with the characteristics of the company's business," said Syukri.