introductory presentation...introductory presentation iwan partogi pasaribu indonesia financial...
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Japan, October 2019
INTRODUCTORY PRESENTATION
Iwan Partogi Pasaribu
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Indonesia Financial Services Authority (OJK)
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Indonesia Financial Services Authority (OJK)Background of OJK
Banking sector is control andmonitor by Indonesia Central Bank(BI)
Capital market and Non BankInstitution are regulate andsupervise by BAPEPAM–LK,Ministry of Finance.
After2011Before2011
Act No. 21 of 2011 gives a legalbasis for the establishment of OJKbody.
Monetary stability and the paymentsystem are maintain by CentralBank (BI)
The activities of financial services inthe banking sector, capital market,and Non Bank Institution areregulate and supervise by OJK.
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Indonesia Financial Services Authority (OJK)Objectives and Function of OJK
Encourage the financial services sector to be held on a regular basis, fair, transparent, and accountable.
Realizing the financial system to grow in a sustainable and stable.
Protecting the interest of consumers and society.
Regulation and supervision of the activities of financial services in the banking sector, capital market, insurance, pension funds, financial institutions, and other financial services institutions.
To organize an integrated system of regulation and supervision of all activities within the financial services sector.
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Pasal 6 UU No 21 Th 2011
OJK regulates and supervises the financial service sector:
Capital Market BankingNon Bank Financial Institutions
Indonesia Financial Services Authorty (OJK)Duties of OJK
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Indonesia Financial Services Authorty (OJK)Organization Structure
Board of Commissioner
Chairman
Vice Chairman
Chief Executive Functioning as
Banking SupervisorHead of Board
of Auditors
Commissioner in charge of consumer’s education
and protection
Ex-Officio member from Bank Indonesia
Deputy Commissioner NBFI Supervisor II
Chief Executive Functioning as Capital
Market Supervisor
Chief Executive Functioning as NBFI
Supervisor
Ex-Officio member from
Ministry of Finance
Deputy Commissioner NBFI Supervisor I
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Financial Service Institutions
Financial Service
Institutions
Insurance
Banking
NBFI
Capital Market
Pension Fund
Other Financial Institutions
Financing Institutions
Employer pension funds Pension fund financial institutions
Life insurance General Insurance Reinsurance Insurance Broker, reinsurance Broker,
and Insurance Loss Adjuster
Financing Company Venture Capital Company Infrastructure Financing
Company
Guarantee Company Secondary Mortgage Facility Indonesian Export Financing Company National Social and Security Institutions Microfinance Institutions Pawnshop
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Implementing integrated regulatory and supervisory system of NBFI sector towards all activities in financial services
Function
Duties
Arrange regulations in NBFIEnforcing regulations in NBFIConducting guidance and supervision on the party
obtaining business license, approval, registrationfrom OJK and other parties engaged in NBFI
Prepare policy formulation in NBFIFormulate standards, norms, guidance criteria
and procedures in NBFICarry out other duties granted by the Board of
Commissioners.
Indonesia Financial Services Authorty (OJK)Chief Executive Functioning as NBFI Supervisor
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Insurance Business OverviewIn Indonesia
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Act No 40 of 2014
INSURANCE
Insurance Company
Sharia Reinsurance Company
Reinsurance Company
Sharia Insurance Company
Insurance Broker
Reinsurance Brokerage
Loss adjuster Company
SERVICE PROVIDERActuary
Appraisal Other professions determined by OJK
Public Accountant
Insurance Business Overview
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Number of Insurance Company 2018
Number of Insurance Company Number of Insurance Support Company
Insurance Broker: 167
Reinsurance Broker: 43
Insurance Loss Adjuster: 27
Insurance Business Overview
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Total Asset & Investment of Insurance Company 2018
In Billion IDRInsurance Asset Investment
General Insurance 145.352 73.428 Life Insurance 520.633 463.962 Mandatory Insurance 133.734 117.193 Social Insurance 341.089 324.504 Reinsurance 21.114 11.274 Sharia General Insurance 5.621 3.783 Sharia Life Insurance 34.474 31.882 Sharia Reinsurance 1.864 1.302
Total 1.203.880 1.027.329
Assets
General Insurance
Life Insurance
Mandatory Insurance
Social Insurance
Reinsurance
Sharia General Insurance
Sharia Life Insurance
Sharia Reinsurance
Investment
Insurance Business Overview
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Insurance Business Overview
- 10,000 20,000 30,000 40,000 50,000 60,000 70,000
2011 2012 2013 2014 2015 2016 2017 2018
General Insurance Business Growth2011 - 2018
Gross Premium Gross Claim Profit/loss
Description 2012 2013 2014 2015 2016 2017 2018Gross Premium 14,5% 13,0% 14,4% -0,3% 18,2% 5,9% -5,7%Gross Claim 37,1% 1,1% 19,8% 25,2% -1,2% 3,4% 7,8%Profit/loss 3,0% -0,9% 45,1% -11,7% -12,8% -2,1% -3,3%
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Description 2012 2013 2014 2015 2016 2017 2018Gross Premium 34,2% -5,8% 60,9% 10,0% 90,6% 37,0% -14,8%Gross Claim 38,4% -23,1% 86,3% 20,1% 30,3% 51,4% 19,0%Profit/loss -1,2% -28,5% 175,8% 101,7% -6,4% 38,2% 120,3%
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5,000
10,000
15,000
20,000
2011 2012 2013 2014 2015 2016 2017 2018
Reinsurance Business Growth2011 - 2018
Gross Premium Gross Claim Profit/loss
Insurance Business Overview
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(50,000)
-
50,000
100,000
150,000
200,000
250,000
2011 2012 2013 2014 2015 2016 2017 2018
Life Insurance Business Growth2011-2018
Gross Premium Gross Claim Profit/loss
Insurance Business Overview
Description 2012 2013 2014 2015 2016 2017 2018Gross Premium 14,8% 4,9% -0,3% 19,7% 23,7% 16,3% -24,4%Gross Claim 19,8% 6,1% -4,5% 15,3% 16,1% 23,3% 20,2%Profit/loss 29,9% -66,6% 453,5% -44,2% 16,3% 88,4% -110,5%
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In 2014, Agencies Administering Social Insurance consist of Health Social Security Agency (nama change from PT Askes) and Employment Social Security Agency, companies Administering Mandatory Insurance consist of PT. Asabri, PT. Taspen, PT Jasa Raharja. Before 2014, companies administering mandatory insurance consist of PT. Askes, PT. Taspen and PT. Asabri.
Insurance Business Overview
Description 2012 2013 2014 2015 2016 2017 2018Gross Premium -33,2% 6,7% 6,6% 8,9% 6,9% 1,9% -1,1%Gross Claim -28,8% 12,8% -13,0% -4,5% 51,7% 19,4% 13,3%Profit/loss 10,2% 35,9% 143,0% -61,2% -9,0% 39,5% -42,3%
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5,000
10,000
15,000
2011 2012 2013 2014 2015 2016 2017 2018
Compulsary Insurance Busines Growth2001-2018
Gross Premium Gross Claim Profit/loss
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In 2014, Agencies Administering Social Insurance consist of Health Social Security Agency (name change from PT Askes) and Employment Social Security Agency, companies Administering Mandatory Insurance consist of PT. Asabri, PT. Taspen, PT Jasa Raharja. Before 2014, companies administering social insurance consist of PT. Jasa Raharja and Employment Social Security Agency.
Insurance Business Overview
Description 2012 2013 2014 2015 2016 2017 2018Gross kontribution 15,63% 32,60% 574,09% 28,12% 30,41% 12,61% 12,43%Gross Claim 9,66% 22,48%1102,39% 32,37% 15,74% 26,30% 12,20%Increase/Decrease Net Asset 12,69% 20,33% 544,00% -55,86% 276,10% -21,92% -12,34%
- 20,000 40,000 60,000 80,000
100,000 120,000 140,000 160,000
2011 2012 2013 2014 2015 2016 2017 2018
Social Insurance Program & Workers Social Security Growth2011 - 2018
Gross kontribusi Gross Claim increase/decrease net assets
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Description 2012 2013 2014 2015 2016 2017 2018Gross Contribution 74,0% 4,6% -11,5% 21,7% 46,4% -7,7% 0,9%Gross Claim 42,1% 61,1% 3,4% 1,1% 35,2% 17,1% -4,0%Profit/loss 13,0% -4,0% 10,3% 8,8% -5,3% 0,9% 6,3%
Insurance Business Overview
- 500
1,000 1,500 2,000 2,500 3,000 3,500
2011 2012 2013 2014 2015 2016 2017 2018
Sharia General Insurance & Reinsurance Business Growth 2001 - 2018
Gross Kontribution Gross Claim Profit/loss
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Description 2012 2013 2014 2015 2016 2017 2018Gross Contribution 27,5% 38,3% 16,7% -1,4% 14,1% 17,5% 14,5%Gross Claim 19,2% 36,3% 30,2% 17,3% 18,6% 14,4% 77,2%Profit/loss 84,7% 24,4% 36,7% 12,5% -11,0% -0,2% 80,3%
- 2,000 4,000 6,000 8,000
10,000 12,000 14,000
2011 2012 2013 2014 2015 2016 2017 2018
Syaria Life Insurance Business Growth 2011 - 2018
Gross Premium Gross Claim Profit/loss
Insurance Business Overview
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Gross Premium VS Gross Domestic Product 2011 - 2018
22.4%
14.9%
9.8%
32.8%
19.5%
22.4%
12.7%
0.8%
15.60%
11.0%
15.8%
10.7%
9.1%7.6%
9.5%9.2%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
2011 2012 2113 2014 2015 2016 2017 2018
Gross Premium
Gross Domestik Bruto
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THANK YOU
OTORITAS JASA KEUANGAN
Wisma Mulia 2Jl. Gatot Subroto No. 42Jakarta, Indonesia
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