Financial Services Authority, Jakarta, February 1, 2016: Having studied the results of evaluation on work performance in 2015, Financial Services Authority (OJK) is quite satisfied with non-bank financial industry's performance, which recorded an increase in number of assets and services for public during 2015. Despite that global economy experienced deflationary pressure, including the United States which was in economic recovery, national non-bank financial industry was unaffected or not having immediate commotion, consequently there will be no potential risks against the industry.
Non-bank financial industry sector will always be supported by OJK to create optimum national economic growth. As a part of the effort to increase national economic growth, the government has announced programs in infrastructures development, improvement of the capacity of micro, small and medium enterprises (UMKM), including start-up companies, and food resilience. In a bid to support government's strategic programs towards successfulness, OJK contributes in encouraging insurance companies, pension fund, financing and underwriters to participate actively in creating financial products and services that will support government's programs. Therefore, OJK has established some task forces and initiated to encourage associations in non-bank financial industry to directly support and provide package of investment insurance, pension fund, financing and underwriting for certain sectors.
More detailed explanation about work performance in 2015 and strategic programs for 2016 is described as follows:
Statistics on Insurance Industry in 2015
As of December 2015, insurance companies consisted of 50 life insurance companies, 76 general insurance companies, reinsurance companies, three compulsory insurance companies and eight Sharia insurance companies. Additionally, there were also insurance supporting companies, comprised of insurance broker companies, 37 reinsurance broker companies and 28 loss adjuster companies.
The number of conventional insurance premium in 2015 reached Rp 181.47 trillion, whereas insurance claim reached Rp 104.87 trilion. Apart from that, Sharia insurance contributed Rp 10.49 trillion in 2015, with the amount of gross claim reaching Rp 3.34 trillion.
Statistics on Finance Institutions in 2015
During 2015, total assets of finance companies grew by 1.25 percent to Rp 425.72 trillion, while assets of venture capital firms reached Rp 8.9 trillion. Additionally, assets of infrastructure financing companies grew by 174.69 percent to Rp 38.24 trillion.
Statistics on Pension Fund in 2015
During 2015, total net assets of pension fund grew by 6.3 percent to Rp 205.05 trillion. The amount of pension fund investment also grew by 6.9 percent to Rp 199.05 trillion.
Statistics on Underwriters in 2015
During 2015, underwriters expanded their market in credit underwriting for UMKM more widely, thereby the amount of outstanding increased by 9.84 percent to Rp 101.74 trillion.
OJK's Performance in 2015
In general, OJK has performed in 2015 a range of strategic programs, primarily in effort to increase non-bank financial industry's contribution to priority sectors in national development and to improve service quality of non-bank financial industry players. More detailed descriptions about last year's performance are as follows:
Strategic Programs for 2016
OJK has strategic programs that really support government's programs, especially in infrastructure development and food resilience. The followings are OJK's strategic programs for 2016:
Managing pension fund for the benefits of severance pay, hajj and umroh pilgrimages, education and housing.
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