Zurich Syariah Achieves 18% Investment Growth in 2025

Strategic Investment in SBSN Drives Performance

PT Zurich General Takaful Indonesia, operating as Zurich Syariah, has reported significant growth in its investment portfolio for the year 2025. The company achieved an 18% increase in net investment income, primarily attributed to its strategic investment in Surat Berharga Syariah Negara (SBSN). According to Hilman Simanjuntak, President Director of Zurich Syariah, the company's investment strategy focuses on maintaining a balanced portfolio that aligns with both syariah principles and regulatory requirements.

Investment Portfolio Composition

The investment portfolio of Zurich Syariah is predominantly composed of SBSN, supplemented by syariah deposits and corporate sukuk bonds. This composition is designed to ensure a balance between assets and liabilities while maximizing returns. Hilman emphasized that the company prioritizes compliance with syariah principles and regulatory requirements in its investment decisions. The factors considered include risk management, yield, and liquidity needs.

Challenges and Future Strategy

One of the significant challenges faced by Zurich Syariah in managing its investment portfolio is the limited availability of syariah-compliant investment instruments in the market. Additionally, market volatility poses a risk to investment returns. To address these challenges, the company employs a flexible asset allocation strategy and maintains a disciplined approach to risk management. Zurich Syariah continuously monitors market developments and adjusts its investment strategy accordingly.

Industry Context

The investment performance of Zurich Syariah is consistent with industry trends observed in the syariah insurance and reinsurance sector. As reported by the Financial Services Authority (OJK), the total investment by syariah insurance and reinsurance companies reached Rp2.73 trillion by October 2025, representing 13.8% of their average annual investment. SBSN remained the dominant investment choice, constituting 43.0% of the total investment portfolio, followed by shares (19.2%), deposits (16.6%), mutual funds (12.1%), and corporate sukuk (8.8%).

Conclusion

Zurich Syariah's commitment to maintaining a syariah-compliant investment portfolio while optimizing returns is evident in its strategic investment decisions. The company's focus on SBSN and other syariah-compliant instruments positions it well within the syariah insurance market. As the company looks to 2026, it plans to continue its emphasis on SBSN investments while navigating the challenges of limited syariah-compliant investment options and market volatility.