Jakarta, ThedailyID — Public trust in PT Asuransi Jiwa IFG (IFG Life) is seen as having a positive impact on Indonesia’s life insurance industry.
The development reflects improving corporate governance in the sector, particularly in insurance management practices.
Herman Khaeron, a member of Commission VI of the House of Representatives and Vice Chairman of the State Finance Accountability Body, shared the view during a Kompas.com Talks event on March 5, 2026.
The discussion focused on new governance standards and customer protection in Indonesia’s insurance industry.
“IFG Life has started to record profits. This shows that the public trusts its management,” Herman said.
He added that strong governance could encourage broader trust across the insurance sector.
Herman said IFG Life’s performance has become a benchmark for public confidence.
“This is important not only for IFG Life, but also for the sustainability of the broader insurance industry,” he said.
He emphasized that transparency and accountability remain key factors in building trust.
According to Herman, insurance companies must offer realistic returns to policyholders. Overpromising benefits could lead to future problems if companies fail to deliver.
“Businesses have limits. Excessive promises can create risks, especially amid global political and economic uncertainty,” he said.
He added that poor governance could weaken the industry, as insurance relies heavily on public trust.
At the same event, representatives from Asosiasi Asuransi Jiwa Indonesia and Otoritas Jasa Keuangan also discussed industry standards and oversight.
Meanwhile, IFG Life reported strong financial performance in 2025.
The company recorded consolidated premium income of Rp6.77 trillion from January to December 2025. The figure marks an 8.56 percent increase year-on-year.
Ryan Diastana Firman said the result reflects effective financial management and the company’s commitment to maintaining customer trust.
Since its establishment in October 2020, IFG Life has paid more than Rp23.4 trillion in claims as of December 2025.
The company reported equity of Rp4.84 trillion and a Risk Based Capital (RBC) ratio of 202.95 percent. The figure is well above the minimum requirement set by regulators.
IFG Life has also met the minimum equity threshold for the life insurance industry, set at Rp500 billion in 2026 and Rp1 trillion in 2028.
