Jasindo's Marine Cargo Insurance Sees Significant Growth

Strong Premium Income Performance

PT Asuransi Jasa Indonesia (Jasindo) has reported a remarkable 50.34% year-on-year increase in its marine cargo insurance premiums, reaching Rp71 billion by November 2025. This growth is particularly noteworthy given the challenging export environment, with Indonesia's exports experiencing significant contractions in both October and November 2025, dropping by 2.31% and 6.6% YoY respectively.

Sectoral Demand Analysis

The demand for marine cargo insurance remained dominated by the mining sector, which typically involves high-value exports and significant transportation risks. Despite the short-term export fluctuations, Jasindo's management believes that the growth in marine cargo premiums indicates that businesses continue to recognize the importance of mitigating supply chain risks. The company remains optimistic about the prospects for this insurance line in 2026, driven by ongoing needs for risk management in complex global trade operations.

Strategic Focus for Future Growth

To maintain and enhance this growth trajectory, Jasindo is focusing on selective and sustainable expansion through three key strategies:

1. Portfolio Quality: Enhancing the quality of their insurance portfolio
2. Service Strengthening: Improving customer service and claims handling
3. Tailored Solutions: Developing customized insurance solutions that better meet specific client needs

Industry Perspective and Recommendations

The Indonesian General Insurance Association (AAUI) supports this strategic direction and has recommended that insurance companies in the industry:

1. Expand partnerships with exporters, importers, freight forwarders, and banks
2. Develop more flexible insurance products tailored to specific logistical risk profiles
3. Leverage digitalization in underwriting and policy issuance processes
4. Enhance risk management services and claims handling

The AAUI maintains a moderate outlook for the marine cargo insurance segment in 2026, expecting selective growth opportunities assuming global trade stabilization and stronger national logistics activity. The focus is expected to shift towards quality growth, prudent risk management, and product innovation to meet evolving trade and logistics needs.