Beware of Fraud And Scams Posing As Sahabat Insurance!
Terakhir Diubah : 04:05:57 - Monday, 19 June 2023
Take control of your digital life. Don't be a victim of cyber scams!
Due to the rampant cases of fraud occurring in cyberspace, Sahabat Insurance urges its customers to be careful and increase their awareness of insurance scams and fraud via telephone, SMS, WhatsApp, or social media on behalf of PT Asuransi Sahabat Artha Proteksi (Sahabat Insurance).
Sahabat Insurance never asked for payment service outside our official account. Ensure that all your transactions will be through our official company account and not a personal account.
Look out for scammers posing as Sahabat Insurance personnel, you can verify it through the Sahabat Insurance call center at 021-50508080 or via email to [email protected]
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Why Is Car Insurance Important?
Having a car insurance policy gives you complete peace of mind. Motor vehicle insurance cover loss or damage to motor vehicle. Based on Indonesia Motor Vehicle Insurance Standard Policy, car insurance covers any loss and/or damage to Motor Vehicle and/or interest insured directly caused by:
collision, impact, overturning, skidding or falling into, malicious act, theft, fire due to the burning of other
nearby objects or Motor Vehicle garage, fire due to lightning,legal liability and other cause mentioned in
the Policy.
When you choose to buy a car insurance policy, it is important that you do not have to undergo a long and cumbersome procedure. The entire process must be simple and convenient.
Sahabat Insurance are available to answer questions via call center and WhatsApp chats to ensure your issues are resolved without any delays. Call Sahabat Insurance or chat via WhatsApp 021-50508080, email us [email protected]
For more info about Motor Vehicle Insurance please click link below:
https://www.sahabatinsurance.id/files/publication/20220919101029.pdf
Fitch Assigns Sahabat Insurance First-Time National IFS Rating of A(idn)
Fitch Ratings - Jakarta - 12 Mar 2026: Fitch Ratings Indonesia has assigned PT Asuransi Sahabat Artha Proteksi (Sahabat Insurance) a National Insurer Financial Strength (IFS) Rating of 'A(idn)'. The Outlook is Stable.
The rating reflects a 'Moderate' company profile and stable profitability, which are offset by its lower regulatory capital ratio than peers. The rating also reflects a conservative investment approach and domestic reinsurance coverage.
'A' National IFS ratings denote a strong capacity to meet policyholder obligations relative to all other obligations or issuers in the same country or monetary union, across all industries and obligation types
KEY RATING DRIVERS
'Moderate' Company Profile: Fitch assesses Sahabat Insurance's profile based on a 'Moderate' business profile and 'Neutral' corporate governance compared with other domestic insurers. The insurer, established in 1996, was known as PT Bess Central Insurance from 2011, and changed its name to Sahabat Insurance in 2020. Sahabat Insurance's market share is small, with 0.5% of gross premiums written (GPW) in the Indonesian non-life industry in 2024.
Sahabat Insurance's main businesses are motor insurance, at 76% of total GPW in 2025, and property at 10%. It mostly sources business from leasing companies (66%), followed by brokers (13%) and the direct channel (13%).
Lower Regulatory Capital Ratio: Sahabat Insurance's regulatory risk-based capital ratio fell to 188% by end-2025 from 203% at end-2024, driven by a rise in premium reserves due to premium growth. This was well below the industry average of above 300%. Equity capital rose on surplus growth, to IDR345 billion from IDR296 billion. It estimates that the implementation of the new accounting standard PSAK 117, the local equivalent of IFRS 17, will lower equity, which would remain above the new equity requirement of IDR250 billion in 2026.
Stable Operating Performance: Operating performance has been stable over the past three years. The insurer booked 7% GPW growth in 2025, after an 8% decline in 2024. Nonetheless, it has maintained an underwriting profit for at least the past three years. The 'combined ratio' increased slightly to 96% in 2025, from 93% in 2024, due to higher premium reserves arising from premium growth in motor and fire. The three-year average combined ratio was 94% over 2023-2025.
Net income rose to IDR48 billion in 2025, from IDR38 billion in 2024, on higher investment income following a shift in its investment mix. Return on equity increased to 15% in 2025 (2024: 14%), which was high relative to peers, with a three-year average of 14% over 2023-2025.
Conservative Investment Portfolio: The investment portfolio is conservative and liquid, with around 74% of total invested assets placed in cash and time deposits, followed by fixed-income securities of 25% and a small portion of stock. Fixed-income securities comprise only government bonds, after the insurer shifted its investment allocation from mutual funds in 2025. Exposure to 'risky assets' is kept at a manageable level relative to equity.
Domestic Reinsurers Dominate: Sahabat Insurance cedes a portion of its premiums through proportional, non-proportional and excess-of-loss reinsurance treaties to mitigate catastrophe risks. Its reinsurance treaties are primarily with domestic reinsurers. Exposure of the capital base to reinsurance recoverables was low compared with peers, at 37% at end-2025. The premium retention ratio - net premiums written to GPW - was high, at 81% (2024: 85%), as it retains most of the premiums from its motor vehicle business.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
- Weakening capitalisation, with regulatory risk-based capital ratio persistently below 180%.
- Deterioration in financial performance, with the combined ratio above 105%.
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
- Stronger capitalisation, with regulatory risk-based capital ratio persistently above 250%.
- Consistent improvement in the company profile, including a larger market franchise and diversification of business lines.
DATE OF RELEVANT COMMITTEE
04 March 2026
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
Source: https://www.fitchratings.com/research/insurance/fitch-assigns-sahabat-insurance-first-time-national-ifs-rating-of-a-idn-outlook-stable-12-03-2026