ANALISIS DAMPAK MANAJEMEN RISIKO TERHADAP KINERJA KEUANGAN INDUSTRI ASURANSI UMUM DI INDONESIA (DATA AAUI 2020–2024)

Abstract

This study aims to analyze the effect of risk management on the financial performance of the general insurance industry in Indonesia during the period 2020–2024. This study uses a quantitative descriptive method with an industry study approach, with secondary data obtained from the Indonesian General Insurance Association and the Financial Services Authority. The variables used include Risk Based Capital as an indicator of capital adequacy and solvency, Claim Ratio as a measure of underwriting risk efficiency, and financial performance represented by premiums written and claims paid. The results show that the Risk Based Capital level of the general insurance industry is consistently above the minimum limit set by the Financial Services Authority, indicating strong capital resilience. Meanwhile, the claim ratio fluctuates but tends to decline, indicating an increase in risk management efficiency. Analysis of the relationship between Risk Based Capital and the claim ratio shows an inverse pattern, confirming that the implementation of effective risk management contributes to increased financial stability in the industry. The conclusion of this study emphasizes the importance of strengthening risk management and regulatory compliance to maintain solvency and sustainable financial performance in the general insurance sector.