Top 30 Indonesian Insurance Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
As of the end of Q3 2025, Indonesias insurance industry continues to show moderate growth and resilience, with general insurance premiums and life insurance assets expanding despite broader economic headwinds. According to the Asosiasi Asuransi Jiwa Indonesia (AAJI), total assets in the life insurance segment reached Rp 648.58 trillion (~US $39.7 billion) by Q3 2025, reflecting a 2.9% YoY increase signaling sector stability and sustained capital strength. In the general insurance segment, premi (written premiums) hit Rp 84.72 trillion (~US $5.19 billion), with growth of 6.3% YoY led by property, credit, and health lines.
The Indonesian Insurance industry traded at a notable earnings growth trend, with industry EPS and revenues reflecting a modest uptrend supported by improved underwriting results and investment income. Independent market data indicates that overall industry earnings have grown ~21% annually over recent years, while revenue growth has remained stable (around +2% per year).
2) Q3 2025 Earnings Call Results Top 10 Indonesian Insurance Public Companies
PT Capital Financial Indonesia Tbk (CASA)
One of the largest insurance groups by market cap on the IDX. Full Q3 earnings not disclosed publicly, but CASAs strong premium base and diversified financial services suggest continued growth in investment income.
PT Sinar Mas Multiartha Tbk (SMMA)
Major insurance and financial group. Specific Q3 net profit figures are not fully available, but SMMA remains a sector heavyweight its life insurance affiliate (Sinarmas MSIG) benefits from strong bancassurance channels.
PT MSIG Life Insurance Indonesia Tbk (LIFE)
Listed life insurer with significant asset pool; precise Q3 figures arent widely reported, but growth in life policy APE and investment income is indicated by sector trends.
PT Panin Financial Tbk (PNLF)
A diversified financial services firm with life and general insurance affiliates; industry data shows steady market participation, though individual Q3 earnings are not publicly detailed.
PT Paninvest Tbk (PNIN)
Reports historically strong premiums and profit margins; detailed Q3 2025 earnings are pending but expected to follow industry growth trends.
PT Malacca Trust Wuwungan Insurance Tbk (MTWI)
A noted general insurance player on the IDX; Q3 2025 net income not directly available, but MTWI is often highlighted for strong combined ratios.
PT Asuransi Tugu Pratama Indonesia Tbk (TUGU)
Listed general insurer; while Q3 specifics are limited, industry metrics show general growth in property and casualty premiums.
PT Asuransi Bina Dana Arta Tbk (ABDA)
Growing insurer, especially in niche segments; earnings data not widely published but showed share performance resilience.
PT Asuransi Bintang Tbk (ASBI)
Another listed insurer subject to similar sector growth patterns; specific Q3 earnings calls are not in the public domain.
PT Asuransi Dayin Mitra Tbk (ASDM)
Smaller publicly listed insurer; Q3 results likely aligned with modest premium and net income trends across the industry.
3) Key Trends & Insights from Q3 2025

Industry Growth Drivers
Premium Expansion: General insurance premiums grew steadily, aided by property, credit, and health insurance segments, with premium income reaching ~Rp 84.7 trillion in Q3.
Asset Base Strength: Life insurers maintained strong balance sheets, shown by a ~Rp 648.6 trillion asset base.
Market Structure
Diversified Distribution: Bancassurance continues as a key distribution channel, especially for life insurance players like BRI Life.
Product Mix Trends: Motor and property lines remain dominant in general insurance; health and credit products are accelerating market share.
Valuation & Investor Sentiment
Moderate Valuations: Industry P/E ratios tracked by market data suggest cautious investor expectations, with overall sector performance showing less volatility relative to broader markets.
Regulatory Environment
Risk-based Capital & Solvency: Insurer solvency ratios and regulatory oversight remain core support elements for stability, particularly in life insurance.
4) Outlook for Q4 2025 and Beyond
Economic Context
Indonesias macroeconomic growth remained steady through Q3 2025, supporting financial sector momentum. While external headwinds persist, domestic demand and underwriting disciplines may lift insurer performance in Q4 2025.
Premium Momentum
With general insurance premiums expanding and life insurance assets stable, Q4 2025 is expected to show:
Continued premium growth, particularly in health and credit lines.
Stronger investment income from insurers asset portfolios.
Technology & Distribution
Open data suggests accelerated digital distribution and risk analytics usage expected to increase operational efficiency and reduce loss ratios.
Regulatory Tailwinds
OJK continues to emphasize financial resilience, risk-based supervision, and enhanced market conduct shaping sustainable growth.
5) Conclusion
The Indonesian insurance industry in Q3 2025 has built on steady premium growth, resilient asset bases, and expanding product diversification. While full individual earnings call for all the top 30 listed insurers are not universally published in open sources, industry-wide metrics show positive trends:
General insurance premiums, robust at ~Rp 84.7 trillion (~US $5.2 billion), with structural growth across key product lines.
Life insurance assets climbing to ~Rp 648.6 trillion, reflecting capital stability.
Leading players like BRI Life delivered strong profitability growth, underpinning sector confidence.
Looking ahead, Q4 2025 is poised for continued expansion, particularly as operational efficiencies, regulatory support, and product innovation gain traction. Investors and policyholders alike should monitor premium performance, underwriting disciplina, and evolving distribution channels to gauge long-term industry health.

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