Indonesia's Marine Cargo Insurance Sector Navigates Export Challenges

Moderate Growth Expected Despite Export Contraction

Indonesia's marine cargo insurance sector is bracing for moderate growth in 2026 amidst a backdrop of declining exports. The country's exports have contracted for two consecutive months, with a 6.6% year-on-year decline in November 2025 ²

. Despite this, industry experts believe that the impact on marine cargo insurance will be limited due to its inelastic demand nature.

Key Drivers and Challenges

The marine cargo insurance sector is driven by exports of commodities such as coal, minerals, crude palm oil (CPO), and manufactured products ¹

. The demand for marine cargo insurance is also influenced by imports of raw materials and capital goods for domestic industries ²

Source 2

https://finansial.bisnis.com/read/20260107/215/1942331/aaui-asuransi-marine-cargo-bisa-melambat-imbas-ekspor-ri-susut-dua-bulan-beruntun

. However, the sector faces challenges such as intense competition, premium pressure, and complex global supply chain risks.

Industry Response and Outlook

To address these challenges, industry players are focusing on strategic collaborations with exporters, importers, freight forwarders, and banks. They are also developing more flexible insurance products tailored to specific logistical risks and leveraging digitalization in underwriting and policy issuance ²

. The sector is expected to grow moderately in 2026, driven by the recovery of global trade and stabilization of commodity prices.