Indonesian State Banks Drive Bancassurance Growth in 2025

Strong Performance Across Major Banks

Indonesia's state-owned banks are experiencing significant growth in their bancassurance business during 2025. PT Bank Tabungan Negara (Persero) Tbk (BTN) and PT Bank Negara Indonesia (Persero) Tbk (BNI) have both reported substantial increases in bancassurance premiums.

BTN's Remarkable Growth

BTN's bancassurance premiums have surged by 90% year-on-year as of November 2025 ¹

. According to Meru Arumdalu, Head of Wealth Management Division at BTN, this growth was driven by increased premium sales across both priority and non-priority customer segments. The bank also strengthened sales execution across its branch network, contributing to the impressive performance.

BNI's Steady Progress

BNI also reported positive growth in its bancassurance business, with premiums increasing by 9.5% year-on-year by November 2025 ²

. Henny Eugenia, General Manager of BNI's Wealth Management Division, attributed the growth to the bank's ability to offer insurance products that are increasingly relevant to customer needs. BNI has also focused on training its sales force and bancassurance specialists to better understand and promote insurance products, enabling them to provide more appropriate recommendations to customers.

Market Implications

The strong performance of these state-owned banks in the bancassurance sector highlights the growing importance of this channel for insurance distribution in Indonesia. The significant growth rates achieved by BTN and BNI suggest that bancassurance is becoming an increasingly vital component of their overall business strategies.