Islamic Insurance Institutions in Indonesia

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Islamic insurance, also known as Takaful, operates based on Islamic principles and offers an alternative to conventional insurance. It is designed to provide mutual assistance and solidarity among participants while complying with Shariah laws, which prohibit elements such as interest (riba), gambling (maysir), and uncertainty (gharar). Indonesia, being the largest Muslim-majority country in the world, has a growing market for Islamic insurance. This article highlights some key Islamic insurance institutions in Indonesia.

1. PT Asuransi Takaful Keluarga

PT Asuransi Takaful Keluarga, established in 1994, is one of the pioneers of Islamic insurance in Indonesia. It offers a range of products, including life insurance, health insurance, and education insurance. The company operates on the principles of mutual cooperation and risk-sharing among its participants.

2. PT Asuransi Takaful Umum

PT Asuransi Takaful Umum, also founded in 1994, focuses on general insurance products. These include motor vehicle insurance, property insurance, and travel insurance. Like its sister company, it adheres strictly to Shariah principles, ensuring that all operations and investments are compliant with Islamic law.

3. PT Asuransi Syariah Mubarakah

PT Asuransi Syariah Mubarakah offers a variety of Takaful products, catering to both individual and corporate clients. Its offerings include personal accident insurance, fire insurance, and corporate liability insurance. The company is committed to promoting Islamic values and ensuring customer satisfaction through ethical and transparent operations.

4. PT AXA Mandiri Financial Services

PT AXA Mandiri Financial Services is a joint venture between Bank Mandiri and AXA Group. It provides both conventional and Takaful insurance products. Its Takaful division offers a wide range of insurance plans, including health, life, and savings plans, all designed to meet the specific needs of its Muslim clients.

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5. PT Prudential Life Assurance

PT Prudential Life Assurance, part of the global Prudential Corporation Asia, offers Shariah-compliant insurance products through its Prudential Shariah division. The company provides comprehensive life insurance and investment-linked insurance products that comply with Islamic principles.

6. PT Asuransi Jiwa Syariah Bumiputera

PT Asuransi Jiwa Syariah Bumiputera is a prominent player in the Islamic insurance market in Indonesia. It provides a variety of life insurance products designed to cater to the diverse needs of its customers while adhering to Shariah principles. The company emphasizes ethical investment and risk-sharing.

7. PT Asuransi Allianz Life Indonesia

PT Asuransi Allianz Life Indonesia, part of the global Allianz Group, offers a range of Takaful products through its Shariah division. These products include health, life, and critical illness insurance plans. Allianz Life Indonesia aims to provide innovative and reliable insurance solutions that align with Islamic values.

8. PT Asuransi Jiwa Generali Indonesia

PT Asuransi Jiwa Generali Indonesia is another significant player in the Indonesian Islamic insurance market. The company offers various Takaful products, including savings, education, and protection plans. Generali Indonesia is committed to providing high-quality services while ensuring compliance with Shariah law.


The growth of Islamic insurance in Indonesia reflects the increasing demand for financial products that align with Islamic values. The institutions mentioned above are at the forefront of providing comprehensive and Shariah-compliant insurance solutions. They play a crucial role in promoting financial inclusion and offering ethical alternatives to conventional insurance for the Muslim population in Indonesia.

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