Astra Pede Insurance Performance Continues to Grow This Year Driven by Product Diversification

President Director of Astra Insurance Maximiliaan Agatisianus. Photo: Theresia Agatha/VOI

JAKARTA - PT Asuransi Astra Buana (Asuransi Astra) is optimistic that the company's performance will continue to grow even though it is faced with a weakening rupiah and rising interest rates.

President Director of Astra Insurance Maximiliaan Agatisianus admitted that the current challenges have a significant impact on the performance of the insurance sector, especially in the motor vehicle segment.

"First, we may see more towards this interest rate increase will certainly have an impact on inflation and a decrease in purchasing power. We see that the motor vehicle market is clearly under pressure from last year, especially driven by credit purchases," said Maximiliaan in the Astra Insurance 2026 Media Conference in Jakarta, Wednesday, June 3.

However, from the perspective of the portfolio owned by the company, it does not have much influence because it is based on the US dollar not too much.

Even so, Maximiliaan believes that the company's performance growth will be obtained from the strategies it has. One of the strategies that Astra relies on is diversification of products.

This means that when motor vehicle loans or insurance are under pressure due to declining purchasing power, there are other insurance companies offered by companies to the public, such as commercial and health insurance.

"Motor vehicle insurance to date can be said to still be under pressure, especially the four-wheelers, right, the normal sales of motor vehicles are usually around 1 million now, right, still below for three consecutive years. But, on the other hand, our commercial insurance is also expected to still be able to grow in line with economic growth," he said.

Commercial insurance is believed to grow positively in line with Indonesia's economic growth. He believes that the domestic economic growth is quite strong in the future. Along with this growth, the company's performance is also believed to grow strongly.

"So, it feels that in addition to health insurance, we also see demand for health care, right, awareness is quite high and we are only playing in employee benefits, so it feels that with diversification we are still projecting to be able to grow in the future," he said.

It is known that health insurance at Astra Insurance is still one of the main contributors with a contribution of around 20 percent to 22 percent.

Meanwhile, other insurance lines also supported the company's performance with the largest contribution still held by the motor vehicle segment with a share of 35 percent and commercial which reached around 42 percent.

The Company believes that the composition will not undergo significant changes this year. In the midst of various challenges, Astra Insurance remains optimistic about being able to record growth by relying on a strategy of diversifying the business portfolio.

Caption: President Director of Astra Insurance Maximiliaan Agatisianus. Photo: Theresia Agatha/VOI