Indonesia's Life Insurance industry has backed new health insurance rules covering co-payments, deductibles, premium reviews and insurers’ medical and digital capabilities.
The Indonesian Life Insurance Association, or AAJI, said it supports the implementation of Financial Services Authority Regulation No. 36 of 2025, which is intended to strengthen the country’s health insurance system amid rising medical inflation, higher healthcare use and increasing premiums.
Under the rules, policyholders must pay 5% of each claim, capped at $16.9 (Rp300,000) for outpatient treatment and $169.1 (Rp3m) for inpatient treatment.
Deductibles will also be applied annually rather than to each individual event.
Insurers may review or reprice premiums no more than once a year, while waiting periods must not exceed six months. Companies must also strengthen their medical expertise, medical advisory boards and information systems.
AAJI said the changes are intended to help control healthcare costs and support premium stability rather than reduce policy benefits.
The association is also encouraging closer coordination between private insurers, Indonesia’s national health insurer BPJS Kesehatan and other healthcare funding providers.
Beijing's plan to inject capital into big state-owned insurers is expected to ease capital constraints and solvency pressures that have held back insurers from investing more long-term funds into the stock market.
Five state-owned insurers and three banks would raise up to a combined 360 billion yuan ($53.6 billion) through capital injections from the Ministry of Finance and other shareholders.
The finance ministry said it would issue 300 billion yuan in special bonds to fund the injections.
It would mark the first time China has used special bonds to support insurers, extending a financing tool previously reserved for state-owned banks.
The recapitalization could help bolster state insurers that were directed to support the stock market with medium- and long-term funds, while positioning them to help regulators manage smaller, higher-risk insurance companies.
The share of assets invested in equities was only 21% at the end of 2025 based on five major listed mainland insurers. Beijing had asked insurers to invest 30% of new premiums into stocks from the beginning of last year.
Analysts said in a note that in the short term, the fresh capital would ease pressure on solvency ratios, particularly core solvency, that were negatively affected by a decline in government bond yields used to value liabilities. Over the medium term, it removes a constraint on insurers boosting long-term equity investments, and longer term it strengthens the capital base of state-owned insurers.
The state funds for insurers arrived sooner than anticipated. The finance ministry said in March it would issue special bonds to recapitalise banks, and many in the market had expected capital support for insurance groups would not materialise until 2027.
Five state insurers will receive a combined 70 billion yuan in capital from the ministry. China Life Insurance (Group) Co will receive 35 billion yuan and China Taiping Insurance Group 7 billion yuan, while PICC Group plans to raise up to 15 billion yuan through a private A-share placement to the finance ministry.
The 60 billion yuan going to the four commercial insurance groups among the five – excluding policy insurer China Export & Credit Insurance Corp – is expected to support roughly 100 billion yuan of additional equity exposure.
The injections mirror a parallel policy push in the banking system, where officials are leaning on larger banks to absorb smaller, higher-risk peers to consolidate the industry. The scale of the state insurers' recapitalization is significantly smaller than the 200 billion yuan the market had expected earlier
