Insurance stocks are stocks of companies that provide insurance products in the form of financial protection against future risks.
The company’s products are not only life insurance. but also education, automotive, unit link (including investment) and many other specialty products.
Currently, there are approximately 18 companies listed on the stock exchange.
Here is a list of the best insurance stocks on IDX:
1. Sinarmas MSIG Tbk Life Insurance (LIFE)
PTT Assuransi Jiwa Sinarmas MSIG Tbk (LIFE) is a company under the auspices of Mitsui Sumitomo Insurance, despite the name Sinarmas. As of 2020, Japanese financial institutions have taken control of more than 80% of the company’s shares, while Sinarmas Group Own only 12%
PTT Assuransi Jiwa Sinarmas MSIG Tbk was established in 1985 as PT Asuransi Jiwa Purnamala Internasional Indonesia (PII). The company went public with its shares listed on the stock exchange in 2020.
2. Paninvest Tbk (PNIN)
The second insurance stock recommendation comes from a member of the Panin Group, Paninvest Tbk (PNIN). The company was established on October 24, 1973 as PT Pan Union Insurance Ltd. This name did not change until PNIN was listed on Stock Exchange in 1983
This company operates in general insurance and has a subsidiary (PT Panin Dai-chi Life) which operates life insurance business and is the result of a joint venture with Dai-chi Life Holding Inc.
3. Tugu Pratama Indonesia Tbk Insurance (TUGU)
PT Assuransi Tugu Pratama Indonesia Tbk (TUGU) is a wholly owned subsidiary of PT Pertamina (dent) which operates this financial product service business The company was established on November 25, 1981, but it was only offered for sale in 2018.
This company offers at least 3 types of services: corporate insurance, retail and Islamic. For organizations, TUGU serves companies in different fields. from energy, marine, health and other sectors. All TUGU corporate insurance products are designed to meet the needs of each customer. Because each company has different risks.
On the other hand, TUGU’s product focus on retail customers is accident insurance with affordable premiums. for Shariah products This company offers products for accidents. (including if it occurs during the Hajj) and for property
4. Indonesian Reinsurance Airlines Tbk (MREI)
Our next stock recommendation is Indonesia Reinsurance Airlines Tbk or MREI as the name suggests. This company is engaged in reinsurance or a company whose duty is to protect other insurance companies. from various risks that may arise from the business they are in This company is necessary to be a distribution channel and reduce the risk.
The company was founded in 1953 and passed the Ownership Rights Act (HMETD) in 2021. Today, the company covers a wide range of products. From life insurance, accidents, both corporate and retail and sharia
5. Victoria Insurance Tbk (VINS)
VINS or Victoria Insurance Tbk is a company that provides a wide range of services in this area such as property insurance. car accident personal accident to various types of services that has been tailored to the needs of the industry
The company was founded in 1978 under the name PT Assuransi Agung Asia after the acquisition of Victoria Group in 2010. The company has made several changes such as a name change. The acquisition of the new building is an IPO on the Indonesian Stock Exchange in 2015.
6. Malacca Trust Wuwungan Insurance Tbk (MTWI)
In 6th place is Malacca Trust Wuwungan Insurance Tbk (MTWI), a subsidiary of a leading securities company in Indonesia. Founded in 1952 and listed on the Indonesia Stock Exchange only in 2017.
MTWI’s business currently covers automotive, property, transportation, travel, health and personal accident insurance. to make it easier for customers Currently, MTWI insurance premiums can be paid in 4 ways: Auto Debit/Auto Credit. Transfer via Internet Banking, BCA, ATM or Use Doku Digital Wallet.
7. Assuransi Bintang Tbk (ASBI)
Assuransi Bintang Tbk is a company founded by many former freedom fighters of the country such as Soedarpo Sastrosatomo, Idham, Wibowo, Pang Lay Kim and others on 17 March 1955 as the oldest insurance company. one in indonesia this company started became a public company in 1989
This company’s products currently include insurance for:
- fire and property
- personal accident
- Terrorism and Sabotage
- Third party liability
- for SMEs
The company is also developing an e-cargo application for issuing marine insurance certificates. And in the near future ASBI also plans to release applications for other services.
8. Assuransi Jasa Tania Tbk (ASJT)
Stock Recommendation No. 8 is PT Assuransi Jasa Tania Tbk (ASJT). The company, often referred to as JASTAN, offers a wide range of standard insurance services such as fire, auto, health and others.
It was established on June 25, 1979 as Jasa Airlines. Tania Insurance The company was listed on the stock exchange in 2003 or 24 years after its inception. ASJT’s business development doesn’t stop there. In 2015, the company added offices and has 13 branch offices and 10 marketing offices, and in 2020 developed JASTAN Apps.
9. Syariah Life Insurance Jasa Mitra Abadi Tbk (JMAS)
PTT Assuransi Jiwa Syariah Jasa Mitra Abadi Tbk (JMAS) is an Islamic insurance company founded in 2014 by KOSPIN JASA, an institution with a large number of MSMEs across Indonesia. Although only established in 2014, JMAS was listed on the Indonesian stock exchange in 2017.
The products offered by this company vary. From life insurance, accidents, to education with JMA Ilma, the company’s clients are not only limited to KOSPIN JASA members, but also the general public.
10. Bina Dana Arta Tbk (ABDA) Insurance
The latest insurance stock recommendation is Assuransi Bina Dana Arta Tbk or ABDA. Founded on October 12, 1982, the company is now one of the leading insurance providers in Indonesia. Supported by 33 branches and marketing offices and supported by 497 employees.
The services of this company are quite complete. From general insurance to special services such as special insurance for heavy equipment, earthquakes, etc.