Asuransi Umum Konvensional
Asuransi Umum Konvensional
🏦 Section K — Financial & Insurance Activities
General insurance (non-life insurance) — providing insurance coverage for property, motor vehicles, marine cargo, fire, liability, health (group), travel, and other short-term risks. This covers all conventional non-life insurance products: car insurance, property insurance for villas/hotels, marine cargo insurance for shipments, travel insurance for tourists, group health insurance for companies. Policies are typically annual contracts renewed yearly. This is NOT life insurance (65111) or syariah insurance (65211) — this is conventional general insurance.
What You Need
BPS_ONLY code — no per_skala data in KBLI 2025 JSON. The OSS licensing pathway shows: Risk: Tinggi (High). Authority: Menteri/Kepala Badan (ministerial level). Kewajiban: Berbentuk badan hukum (must be legal entity).
Critical: NIB is NOT the insurance license The NIB from OSS is only the legal business entity registration. The actual insurance operating license comes from OJK (Otoritas Jasa Keuangan / Financial Services Authority) under UU 40/2014 (Perasuransian / Insurance Law).
Two-stage licensing process
Stage 1: PT PMA Establishment + NIB
- PT PMA incorporation — notary deed, AHU registration; minimum IDR 10B stated capital (~3–5 weeks)
- NIB via OSS — register on oss.go.id, select 65121, Tinggi path; NIB issued (~2–3 days)
- Kewajiban compliance — "Berbentuk badan hukum" satisfied by PT PMA structure
Stage 2: OJK Insurance License (Izin Usaha Perasuransian) 4. OJK application — submit to OJK for Izin Usaha as general insurer 5. Modal disetor minimum — IDR 100 billion paid-up capital for new general insurance company (POJK requirement, far higher than PT PMA minimum) 6. Fit & proper test — all directors, commissioners, and controlling shareholders must pass OJK fit & proper assessment 7. Business plan submission — detailed actuarial projections, reinsurance arrangements, risk management framework 8. Reinsurance treaty — must have reinsurance agreements in place before OJK approval 9. OJK approval timeline — 6–18 months from application to license issuance (highly variable depending on completeness)
Post-license obligations
- Quarterly financial reporting to OJK
- Solvency margin compliance (Risk-Based Capital / RBC minimum 120%)
- Annual actuarial review and audit
- Consumer protection compliance (POJK 1/2013)
Typical total timeline
12–24 months from PT PMA to operational insurance company (OJK license is the bottleneck).
Minimum capital
IDR 100 billion paid-up (OJK requirement) + IDR 10B PT PMA stated capital.
Authority
Menteri/Kepala Badan (OSS) + OJK (insurance license).
Historically 80% cap on foreign ownership for acquisitions of existing insurers. For new establishment, check current Perpres — PMA percentage may be limited. Verify with OJK before proceeding.
General insurance existed in KBLI 2020 under similar codes. KBLI 2025 maintains the classification as BPS_ONLY, meaning detailed per-scale licensing data is not yet fully defined in OSS. The core regulatory framework remains OJK-based under UU 40/2014, unchanged from previous years.
Bali Intelligence
🏝 General Insurance in Bali (Active Market, High Barriers to Entry)
- Bali has significant demand for general insurance: property insurance for villas/hotels (fire, earthquake, flood), motor vehicle insurance (massive market — millions of vehicles), marine cargo insurance (Benoa port shipments), travel insurance for tourists
- Existing players dominate: Major Indonesian insurers (Asuransi Astra, Sinar Mas, Allianz Indonesia, ACA, Zurich) already have strong distribution in Bali
- Expat market: International health insurance plans (CIGNA, AIA, Allianz) serve expat community; group health insurance for companies is a growing segment
💡 PMA Opportunities (Realistic Assessment)
- Establishing a new general insurer is extremely difficult: IDR 100B capital requirement, 12–24 month OJK approval process, intense competition from established players
- More practical path: Insurance agency (66221) — act as intermediary selling insurance products on behalf of existing insurers; much lower capital requirement (IDR 10B PT PMA only), faster licensing, immediate revenue
- Niche opportunities: Specialty insurance for tourism sector (villa rental insurance, tour operator liability, event cancellation), marine insurance for yacht/boat owners, expat health insurance brokerage
- Acquisition route: Buying an existing small general insurer may be faster than new establishment, but PMA cap (historically 80% for acquisitions) applies — verify current regulations
⚠ Critical Points for Foreign Investors
- OJK license is separate and mandatory: Do not assume NIB = permission to operate insurance business; OJK Izin Usaha is the critical license
- IDR 100B capital is real: This is paid-up capital, not stated capital; you must actually deposit IDR 100 billion into the company bank account
- Fit & proper test is strict: OJK will reject directors/commissioners with poor financial history, criminal records, or insufficient insurance industry experience
- Reinsurance is mandatory: General insurers must have reinsurance treaties to manage risk; this requires relationships with international reinsurers
- Consider agency model first: 66221 (insurance agent) is a much more accessible entry point into Bali's insurance market — test the market before committing IDR 100B to a new insurer
- 66221 — Insurance agent — if you want to sell insurance products without establishing a full insurer (much lower capital requirement)
- 66222 — Insurance broker (pialang) — if you want to represent clients and place insurance with multiple insurers
- 64191 — Banking services — if you offer bancassurance products through bank partnerships
- 74100 — Business consulting — if you provide risk management consulting alongside insurance products
Related Codes
Asuransi Jiwa Konvensional
Asuransi Jiwa Konvensional
Asuransi Jiwa Syariah
Asuransi Jiwa Syariah
Asuransi Umum Syariah
Asuransi Umum Syariah
Aktivitas Penjaminan Simpanan dan Asuransi
Aktivitas Penjaminan Simpanan dan Asuransi
Penjaminan Konvensional
Penjaminan Konvensional
Penjaminan Syariah
Penjaminan Syariah