Executive Summary

Key insights and market outlook

PT Asuransi Kredit Indonesia (Askrindo) has reported a Rp687.4 billion profit for the first nine months of 2025, representing a 591.6% year-on-year increase ¹

. The significant growth was primarily driven by strong underwriting performance with contributions reaching Rp838.8 billion, a 172.1% YoY increase ¹². Total premiums from suretyship and general insurance business grew 15% YoY to Rp609 billion, with increases seen in both state-owned enterprises and private companies ¹.

Full Analysis

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Deep Dive Analysis

Askrindo Achieves Strong Financial Performance in 2025

Significant Profit Growth

PT Asuransi Kredit Indonesia (Askrindo), a member of Indonesia Financial Group (IFG), has reported a net profit of Rp687.4 billion for the period ending September 2025, representing a substantial 591.6% year-on-year growth ¹

. This remarkable performance was primarily driven by the company's effective underwriting practices, which resulted in underwriting contributions of Rp838.8 billion - a 172.1% increase from the previous year ¹².

Business Segment Performance

The company's suretyship and general insurance business showed significant growth, with total premiums reaching Rp609 billion, a 15% year-on-year increase ¹

. This growth was attributed to increased premiums from both new and existing state-owned enterprises (BUMN) in the suretyship business, as well as growth in general insurance from both private companies and BUMN. According to M Fankar Umran, Askrindo's CEO, "The increase in suretyship premiums occurred in both new and existing BUMN businesses and general insurance business from private companies and BUMN" ¹.

Investment Performance

The company's investment management also showed positive results. As of September 2025, Askrindo recorded investment returns of Rp571.7 billion, representing a 13% year-on-year growth ¹

. Leonardo Henry Gavaza, Askrindo's Finance Director, attributed this success to the company's optimized placement in bond instruments.

Financial Strength

Askrindo maintains strong financial health with a Risk-Based Capital (RBC) ratio of 372.3% ¹

. The company's financial strength was further recognized in July 2025 when it received an idAA+ rating with a stable outlook from Pefindo, a leading Indonesian rating agency.

Business Outlook

The company remains committed to its growth strategy through innovative non-program business development, expanding MSME access to government programs, and enhancing insurance literacy and inclusion. These initiatives are expected to drive future growth while maintaining financial discipline.

References