Oona Insurance - Digital General Insurer

Oona Insurance, one of Southeast Asia’s fastest-growing digital general insurers, plans to accelerate its regional expansion and actively pursuing acquisitions across Southeast Asia after delivering strong first-half 2026 growth that significantly outpaced its core markets.

Less than four years after entering Indonesia and the Philippines, Oona has established itself as one of the region’s fastest-growing insurers.

In Indonesia, where the general insurance market contracted by approximately 2% in H1 2026, Oona grew its Gross Written Premium (GWP) by 40%. The company maintained its position among Indonesia’s top 10 motor insurers by GWP while climbing nine places to 23rd in the country’s overall non-life insurance rankings.

In the Philippines, where the non-life insurance industry has historically expanded by around 10–15% annually, Oona delivered 80% GWP growth in the first half of 2026. Broad-based expansion across its multi-channel distribution model helped propel the company into the country’s top 10 non-life insurers by net written premiums.

While premium growth remained strong, Oona’s profitability improved even faster, signalling that the insurer’s expansion strategy is translating into stronger earnings.

Oona Indonesia’s net income grew 55% year-on-year in the first half of 2026, while Oona Philippines recorded 200% growth, demonstrating that strong premium growth has been matched by disciplined underwriting and improving operating leverage. The Group maintained a combined ratio (COR) of 96% across both markets, remaining below the 100% threshold for underwriting profitability — a benchmark achieved by relatively few insurers in the region.

Oona’s growth is being supported by Southeast Asia’s structurally underpenetrated insurance markets. Insurance penetration in both Indonesia and the Philippines remains below 2% of GDP — among the lowest in Asia, leaving substantial room for long-term growth as consumers increasingly adopt digital financial services.

To accelerate its next phase of growth, the company is actively evaluating acquisition opportunities across Southeast Asia. Indonesia and the Philippines remain immediate priorities, while Thailand and Vietnam represent the next phase of its regional expansion strategy.

Oona has built its technology and product architecture to integrate directly into the platforms customers already use—from e-wallets and ride-hailing apps to banks and travel platforms. Rather than asking customers to buy insurance separately, the company enables protection to be embedded naturally into existing digital journeys. For partners, this means faster integration and access to a broader range of insurance products. For customers, it means buying insurance becomes a seamless part of an everyday transaction.