(Re)in Summary
- Sompo Indonesia has commenced operations of Sompo Insurance Sharia, its new general syariah insurance subsidiary.
- The new dedicated syariah entity was established in full compliance with Financial Services Authority (OJK) regulations.
- Sompo Indonesia has been providing syariah-based asset protection services since 2017.
Sompo Indonesia has commenced operations of Sompo Insurance Sharia (Sompo Syariah), its new general syariah insurance subsidiary offering more focused products and services in accordance with syariah principles, the company announced on 21 October.
Sompo Syariah was established in full compliance with Financial Services Authority (OJK) regulations, Sompo said in a press release.
Ratna Indrayani leads the new insurer as chief executive officer. She said its priorities include expanding access to syariah-based protection and improving understanding of its benefits through education, outreach and product development.
“Operating as an entity allows us to concentrate more fully on delivering services that support people in their daily lives,” Indrayani said. She added that the company is committed to expanding access to syariah-based protection.
Sompo Indonesia has offered syariah-based asset protection to individuals and businesses since 2017. The dedicated entity is intended to provide a structure for stronger governance and more tailored products, according to Eric Nemitz, president director and chief executive officer of Sompo Indonesia.
“The establishment of Sompo Syariah allows us to serve the community with greater clarity and focus,” Nemitz said. “By creating a dedicated syariah entity, we strengthen our ability to deliver protection that is compliant, responsive, and aligned with the needs of our customers.”
The launch comes amid growth in Indonesia’s general syariah insurance sector. Assets reached IDR10.8trn (US$600m) in the first quarter of 2026, an increase of 13.77%, according to Indonesian Sharia Insurance Association (AASI) data cited in the release.
Sompo Syariah begins operations as Indonesia’s insurance industry prepares for higher minimum capital requirements.
Under OJK rules, conventional insurers must hold a minimum equity of IDR250bn by the end of 2026, while conventional reinsurers must hold IDR500bn. Sharia insurers and reinsurers face lower thresholds of IDR100bn and IDR200bn, respectively.
