Zurich Indonesia's Motor Insurance Shows Signs of Recovery

Positive Growth in Motor Insurance Premiums

Zurich Asuransi Indonesia's motor insurance business is showing clear signs of recovery, with premiums growing 8% year-on-year through October 2025. According to Edhi Tjahja Negara, Country Manager of Zurich Indonesia, the growth is primarily driven by the two-wheeler segment, which has performed better than four-wheel vehicles. The improvement is particularly notable among individual customers purchasing motorcycles through leasing or multifinance channels, rather than through manufacturer partnerships.

Electric Vehicle Insurance Shows Promising Growth

The company has also observed a significant increase in electric vehicle (EV) insurance, although it remains cautious about potential government policy changes regarding import duties in the coming year. Edhi noted that while EV insurance has shown high growth, the overall premium rates for conventional and electric vehicles remain relatively similar. The key difference lies in the benefits offered, with Zurich providing comprehensive coverage for EVs, including battery protection under all-risk products.

Industry Context and Market Trends

The recovery in Zurich's motor insurance business aligns with broader industry trends. National motorcycle sales in October 2025 grew 4.09% month-on-month to 590,362 units, marking the highest monthly sales for the year. According to Sigit Kumala, Chairman of the Commercial Division at the Indonesian Motorcycle Industry Association (AISI), approximately 60% of these sales were financed through credit, indicating a strong correlation with Zurich's growth in individual customer business.

Financial Performance Highlights

Zurich Asuransi Indonesia's gross premium income reached Rp2.58 trillion as of October 2025, representing a 53.31% year-on-year growth from Rp2.20 trillion. This significant increase underscores the company's successful strategic positioning in both traditional and emerging segments of the motor insurance market.