JAKARTA - The Financial Services Authority (OJK) has expressed its support for the implementation of travel insurance obligations for foreign tourists, although this policy is cross-sector and requires coordination with related ministries and agencies, especially in the fields of tourism and immigration.
The Head of the Insurance, Guarantee, and Pension Fund Supervisory Board of the OJK, Ogi Prastomiyono, emphasized that this policy could strengthen risk protection for tourists while encouraging the development of insurance products through market expansion.
"The implementation of this policy needs to be further studied by considering the readiness of the ecosystem, the implementation mechanism, and consumer protection aspects, so that it can run effectively and sustainably," he said in a written statement, quoted Sunday, December 28.
He added, based on data as of October 2025, life insurance premium income continued to show positive growth, both in the individual and group segments.
Meanwhile, individual life insurance premiums were recorded at Rp78.87 trillion, an increase of 6.58 percent year-on-year (yoy), while the group segment reached Rp21.70 trillion or an increase of 1.97 percent (yoy).
Ogi said this reflected that demand for life protection products remained stable amid industry dynamics.
In addition, by October 2025, the results of investment in the life insurance industry, both conventional and sharia, reached IDR 42.15 trillion, growing significantly by 60.43 percent (yoy).
Meanwhile, the results of investment in the general insurance and reinsurance industry were recorded at Rp8.36 trillion, an increase of 15.96 percent (yoy).
Ogi added that the structure of the industrial investment portfolio is still dominated by conservative and liquid instruments, especially Government Securities (SBN).
Meanwhile, life insurance placed SBN investments of IDR 244.02 trillion or 41.82 percent of the total portfolio, while general insurance and reinsurance amounted to IDR 59.66 trillion or 36.52 percent of the total investment.
"With a fairly conservative portfolio structure and a stable monetary policy direction, OJK considers the prospects for industry investment returns in the coming year to be positive and have healthy growth room," he said.
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