Indonesia Re Awaits Shareholder Decision on New CEO Appointment

Transition Leadership Amid Strategic Shift

PT Reasuransi Indonesia Utama (Indonesia Re) is currently in a period of transition as it awaits a decision from its majority shareholder, Sovereign Wealth Fund (SWF) Danantara, regarding the appointment of a new CEO. The current CEO, Benny Waworuntu, has completed his tenure of 4 years and 10 months. Delil Khairat, Technical Director of Indonesia Re, stated that the company is awaiting the shareholder's decision, which could result in either the appointment of an acting CEO or a definitive new CEO.

Business Strategy for 2026

Amid the leadership transition, Indonesia Re is focusing on its business strategy for 2026. The company aims to improve the quality of its risk portfolio in the face of a soft market condition in the global reinsurance industry. A soft market is characterized by increased capacity, more intense competition, lower premium rates, and more lenient terms and conditions. To navigate this challenging environment, Indonesia Re plans to implement more selective risk segmentation and partnerships. The company also recognizes the importance of enhancing its data capabilities to ensure more accurate risk assessment and digitalization to reduce operational costs and accelerate business processes.

Navigating Soft Market Conditions

The soft market condition in the reinsurance industry presents both challenges and opportunities. While it pressures profit margins for reinsurers, it also provides insurers with more affordable risk protection options. To address these challenges, Indonesia Re is adopting a strategic approach that includes stricter risk selection, improved operational efficiency, and strengthened risk management practices. The company's ability to navigate this cyclical market condition will be crucial in maintaining its competitiveness and sustainability.