The Life Insurance Industry Paid Out Health Claims Amounting To Rp 24.18 Trillion In 2024

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The Life Insurance Industry Paid Out Health Claims Amounting To Rp 24.18 Trillion In 2024

Friday, 28 Feb 2025

The Indonesian Life Insurance Association (AAJI) reported that the life insurance industry paid out health insurance claims totaling Rp 24.18 trillion in 2024. This represents a 16.4 percent increase compared to Rp 20.77 trillion during the same period last year. Fauzi Arfan, the Head of Product, Risk Management, and Corporate Governance (GCG) at AAJI, noted that this year's growth in claims is more controlled than last year's increase of 24.6 percent. "We are still working hard to manage health claims. We are collaborating with the Financial Services Authority (OJK), the Ministry of Health, and hospitals providing health services," he stated at a press conference on the life insurance industry's performance in 2024, held on Friday (February 28, 2025).

Health claims from individual insurance products amounted to Rp 15.29 trillion, reflecting a 14.4 percent rise from last year. Meanwhile, group health insurance claims reached Rp 8.89 trillion, growing by 20.1 percent compared to the same period last year. The total claims and benefits paid by the life insurance industry in 2024 were Rp 160.07 trillion, a decrease of 1.5 percent from Rp 162.52 trillion the previous year.

AAJI's Chairman Budi Tampubolon reported that the life insurance industry's premium income reached Rp 185.39 trillion in 2024, marking a 4.3 percent increase from the same period last year. This rise in premiums was supported by new business premiums of Rp 108.32 trillion and renewal premiums of Rp 77.07 trillion, both growing by 4.3 percent compared to the previous year.

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