Sharia Life Insurance Companies Research Articles

The Influence of Investment Returns and Tabarru Fund Contributions on The Asset Growth of Registered Sharia Life Insurance Companies in Ojk in The Period 2019-2022

This study investigates the impact of investment returns and tabarru fund contributions on the growth of Islamic life insurance assets from 2019 to 2022, as registered with the Financial Services Authority (OJK). Conducted between May 31 and June 30, 2023, it adopts a descriptive quantitative approach. Data sourced from financial statements of Islamic life insurance firms registered with the OJK during the specified period. Using a saturated sample of monthly financial reports, totaling 48, data collection involved observation and documentation. Analysis employed multiple linear regression via IBM SPSS 20.Results indicate that investment returns positively and significantly influence Islamic life insurance asset growth. However, tabarru fund contributions, while positive, show insignificance. Simultaneously, both factors collectively exhibit a positive and significant impact. It's concluded that investment returns wield a more substantial influence on asset growth compared to tabarru fund contributions. Thus, Islamic life insurance companies should prioritize producing robust financial reports and optimizing tabarru fund management for sustained operation.Implications suggest that by enhancing investment returns, issuing stable financial reports, and optimizing tabarru fund management, these companies can attract customers, investors, and bolster assets. This underscores the importance of strategic financial management in ensuring the viability and growth of Islamic life insurance firms.

Influence of GDP and Interest Rate on the Return on Assets of Sharia Life Insurance Companies in Indonesia During the COVID-19 Pandemic

This paper examines the relationship between the effect of GDP and Interest Rate on the Return on Assets of Islamic insurance companies in Indonesia during the COVID-19 pandemic, using the period 2020 to 2022. Multiple linear regression is used to test the degree of relationship between macroeconomic factors and company performance. The results of the study show that GDP and Interest Rate have no significant effect on the ROA of Islamic life insurance companies in Indonesia. There are three reasons provided, the sharia insurance industry has different characteristics from other industries, the social behavior factor during the COVID-19 pandemic, and there are also other factors that affect the ROA of sharia insurance companies. The findings contribute to the operation of Islamic insurance in Indonesia for regulators, investors, and policyholders.

Analisis Model Altman Z-Score dalam Memprediksi Potensi Kebangkrutan Perusahaan Asuransi Jiwa Syariah di Indonesia

This research is a qualitative study with a population of Sharia Life Insurance in Indonesia. The research sample is a Sharia Life Insurance company registered with the Financial Services Authority (OJK) for the 2017-2021 period, namely Full Sharia Life Insurance and published financial reports that have been audited, namely the company PT. Family Takaful, PT. Al-Amin, PT. Amanahjiwa Giri Artha, PT. Jasa Mitra Abadi, and PT. Indonesian family. Data obtained through OJK from the company's official website. The research data were processed using the modified Altman Z-score formula. The analysis in this study was carried out using descriptive statistics. The results of this study were taken based on the cut off value. A Z value <1.23 is declared bankrupt, a value between 1.23 and 2.9 is declared a gray area or prone to bankruptcy, and a value > 2.9 is declared not bankrupt. The results of the analysis of potential bankruptcy predictions Altman z-score that PT Takaful Keluarga, PT Amanahjiwa Giri Artha and PT Keluarga Indonesia are in the category of non-bankrupt companies. Meanwhile, PT Al-Amin is in the unsafe category or is called the gray area because Al-Amin in 2019, 2020 and 2021. The last company, namely PT Jasa Mitra Abadi, was included in the bankrupt category in 2017 showing results Z < 1.23, namely - 67.74 Furthermore, PT Jasa Mitra Abadi also entered a gray area or prone to bankruptcy from 2018 to 2021.

PENGARUH PENDAPATAN PREMI DAN HASIL INVESTASI TERHADAP LABA PADA PERUSAHAAN ASURANSI JIWA SYARIAH

This study aims to examine how much influence the independent variables, namely premium income and investment returns, have on the dependent variable, namely profits at Islamic life insurance companies in Indonesia that are registered with the Financial Services Authority (OJK) for the period 2017 – 2021. Quantitative methods are used in this study with multiple linear regression data analysis techniques and processed using SPSS version 26. This study data collection technique in this research uses purposive sampling and the secondary data used are published and audited financial reports. The samples used were 7 sharia life insurance companies for research. The results prove that premium income affects profits positively and significantly, while investment returns affect profits negatively and insignificantly. However, together premium income and investment returns affect profits significantly.
 Keywords: premium income, investment return, and profit.

GOOD CORPORATE GOVERNANCE (GCG) TERHADAP SOLVABILITAS PERUSAHAAN ASURANSI JIWA SYARIAH DI INDONESIA

The purpose of this study was to analyze the influence of Good Corporate Governance (GCG) and the Return on Investment Ratio to Solvency in Islamic Life Insurance Companies in Indonesia. This study uses a quantitative approach using secondary data. The population of this study is all Sharia Life Insurance Companies in Indonesia with the 2017-2021 research period. The sampling technique used purposive sampling method. Samples that met the criteria were 18 Sharia Life Insurance from 23 Sharia Life Insurance in Indonesia. The model used as an analysis tool is multiple regression analysis. Data processing in this study uses SPSS 25.0 tools. The results of this study indicate that simultaneously the variables of the Board of Commissioners, Board of Directors and Investment Return Ratio have a positive and significant effect on Solvency (RBC) on Sharia Life Insurance in Indonesia, while partially the Board of Commissioners has a negative and significant effect on Solvability (RBC), Board of Directors has a negative and significant effect on Solvability (RBC) and the Return on Investment Ratio has no effect on Solvability (RBC).

The Effect of Premium Contribution and Claim Expenses on Investment Results With Tabarru Reserves As An Intervening Variable In Sharia Life Insurance Companies

Asuransi Jiwa Syariah merupakan asuransi mengelola dana sesuai dengan prinsip-prinsip Syariah dimana terdapat prinsip saling tolong menolong dan saling melindungi diantara para peserta melalui kontribusi ke Dana Tabarru.Tujuan penelitian untuk menganalisis pengaruh dari kontribusi dan beban klaim terbadap cadangan dana tabarru dengan hasil investasi sebagai variabel intervening. Periode penelitian yang dilakukan tahun 2018-2020 dengan sampel perusahaan asuransi jiwa syariah sebanyak tujuh perusahaan. Data diperoleb dari laporan keuangan tahunan perusahaan yang telah dikumpulkan secara purpose sampling dengan metode analisis menggunakan Structural Equation Modeling (SEM) PLS. Hasil dari penelitian ini menunjukan bahwa kontribusi premi mempunyai pengaruh positif terhadap cadangan dana tabarru, namun tidak mempunyai pengaruh dengan hasil investasi. Beban klaim tidak mempunyai pengaruh terhadap cadangan dana tabarru, namun mempunyai pengaruh positif signifikan dengan hasil investasi. Hasil investasi tidak mempunyai pengaruh terhadap cadangan dana tabarru. Hasil investasi tidak memediasi kontribusi premi dan beban klaim terhadap cadangan dana tabarru.

The Factors Affecting Surplus Underwriting of Tabarru Funds in Sharia Life Insurance Companies

The underwriting surplus is the difference in excess of the total contribution of participants that is included in the tabarru' fund plus assets and deducting claim payments and other costs. This article aims to analyze the factors that influence the acquisition of tabarru fund underwriting surplus in Islamic life insurance companies. The variables used in this study are contributions, claims, and investment returns as independent variables, then the underwriting surplus of tabarru funds as the dependent variable. The population used is sharia life insurance companies registered with the Financial Services Authority for the 2017-2021 period using the panel data regression method. The results of this study indicate that there is an influence on the contribution to the underwriting surplus of tabarru' funds because the greater the contribution obtained by the company, the underwriting surplus will increase, claims do not affect the underwriting surplus of tabarru' funds because if a claim occurs it will reduce the tabarru' funds, and investment returns does not affect the underwriting surplus of tabarru' funds because the company's investment management is still not optimal.

Pengaruh Dewan Komisaris, Firm Size, dan Rasio Modal terhadap Profitabilitas Asuransi Jiwa Syariah di Indonesia


 The purpose of this study was to analyze the effect of the Board of Commissioners, Firm Size, and Capital Ratio on the Profitability of Sharia Life Insurance in Indonesia for the 2016-2021 period. The method of determining the sample in this study was purposive sampling method and the results obtained were 10 sharia life insurance companies in Indonesia. The data analysis in this study is descriptive analysis and multiple linear regression analysis using SPSS 17. This research results that simultaneously the board of commissioners, firm size, and capital ratios have a significant effect on profitability. While partially the board of commissioners has no significant effect, firm size and capital ratios have a significant effect on profitability.
 Keywords: Board of Commissioners, Firm Size, Capital Ratio, Profitability

Determinan Hasil Investasi, Klaim dan Tata Kelola Perusahaan Terhadap Solvabilitas Perusahaan Asuransi Jiwa Shariah di Indonesia

The research aims to determine the impact of Sharia Life Insurance Solvency in Indonesia from 2018-2021 both partially and simultaneously. Uses a panel data approach with multiple linier regression analysis where the data is collected from 13 financial sharia life insurance report with 52 samples. The results of the study in partially shows that claim have a negative significant effect, while board of commissioners, and sharia supervisory board have a positive significant effect on solvency sharia life insurance companies however investment return and board of director have no significant effect. In simultaneously the result of the study shows that sharia life insurance companies solvency is influenced by investment return, claim, board of commissioners, board of director and sharia supervisory board. This means that the contribution of the variable investment return, claim, board of commissioners, board of director and sharia supervisory board to solvability is 73% while the remaining 27% is determined by other factors outside the Y1 equation Furthermore, these findings shall be consideration for managers in making policies. This study combines financial ratios and corporate governance in analyzing the solvency determinants of sharia life insurance companies in Indonesia.

Pengaruh Debt To Equity Ratio Terhadap Return On Asset Pada Perusahaan Asuransi Jiwa Syariah


 
 
 
 Abstract:
 As the main goal of a company is to maximize profits, to increase the value of the company which can be measured using the profitability ratio, namely return on assets. In addition, it is also necessary to pay attention to other ratios to measure the soundness of a company to achieve profit targets, one of which is by using a solvency ratio, namely the debt to equity ratio. This study will discuss the effect of the debt to equity ratio on return on assets in sharia life insurance companies in 2017-2021. This study uses a quantitative method using descriptive statistical tests, classical assumption tests, panel data regression tests, hypothesis testing and the coefficient of determination. The data used is secondary data obtained from the official website of a sharia life insurance company in Indonesia. The results showed that the debt to equity ratio had a significant effect on return on assets. Testing the results of the hypothesis found that the value of t count > t table was 5.808281 > 1.69236 with a significance level of 0.0000 <0.05. After statistical analysis, it is known that the regression analysis model equation ROA = 0.044863 + 0.012515 DER + εti. The R^2 value is 0.509483 which means 50%, this means that 50% of the Return on Assets is influenced by the Debt to Equity Ratio and the remaining 50% is influenced by other variables not examined in this study.
 
 
 

Analisis Pengaruh Pendapatan Kontribusi Di Era Pandemi Covid-19 Terhadap Laba Perusahaan Asuransi Jiwa Syariah

The Covid-19 pandemic has an impact on all industrial sectors. One of them is the sharia insurance company industry in Indonesia. With the existence of Covid-19, this has affected the profits of sharia life insurance companies. Therefore, this study will discuss one of the factors that can affect company profits, namely the contribution of income. In this study, regression analysis was used using the classical assumption test, hypothesis testing, t (partial) test, correlation coefficient test, and coefficient of determination test. From the simulation results, it was obtained that the revenue contribution only explained an effect of 4.4%, this meant that there were other factors that affected company profits during the Covid-19 pandemic era.

Financial Performance Of Sharia Life Insurance Companies In Indonesia

Purpose-The objective of this study is to analyze the financial standing of Indonesian Sharia life insurance firms, which will be assessed in terms of profit and influenced by premium income, investment return, and risk-based capital. Sharia insurance aims to help each other by setting aside funds in accounts for the purpose of helping each other in case of an accident. Indonesia has a majority Muslim population, making Sharia insurance easy to develop. The development of Sharia insurance is expected to be in line with its financial performance. Design/Methodology/Approach-This research used a quantitative approach and secondary data. The sample used was Sharia life insurance companies registered with the Association of Sharia Insurance Indonesia (AASI) during the period 2016-2021, with a total of 8 companies collected through purposive sampling. Hypothesis testing in this study used panel data regression analysis. Findings-The findings of this study demonstrated that premium income and risk-based capital had little bearing on the profitability of Indonesian Sharia life insurance firms. In the meanwhile, Indonesian Sharia life insurance companies' profits are impacted by investment return. The results of this study contribute to customers and companies to pay attention to financial performance and risk management. Research Limitations/Implications-This study has limitations due to a small sample size. It may prevent the findings from being extrapolated. Originality/Value-The investment capability of Sharia life insurance companies in Indonesia has shown good performance, which can generate profits. However, the signaling information from the premium decision-making capability and risk-based capital still does not meet the standard and needs to be improved.

Financial performance of sharia and non-sharia life insurance: A comparative analysis

The emergence of Islamic insurance as a financial solution for Muslim communities, especially in Muslim-majority countries, is an intriguing topic. This study aims to evaluate the financial performance of Sharia-compliant life insurance in Indonesia and its market presence. Specifically, it compares the financial performance of non-Sharia and Sharia life insurance companies using the Early Warning System (EWS) and Risk-Based Capital (RBC). The EWS evaluation measures capital adequacy ratio, claim expense ratio, liquidity ratio, and own retention ratio, while RBC measures solvency ratio. The results of hypothesis testing, using the Mann-Whitney U test, reveal a significant difference between the financial performance of non-Sharia and Sharia life insurance companies based on EWS. However, there is no significant difference between their financial performance based on RBC's solvency ratio. The findings of this study imply that, as a whole, sharia-compliant insurance outperforms its non-sharia counterparts. Despite the relatively small sample size, these results offer a ray of hope for Islamic financial institutions to pursue further growth and development.

The Effect of Premium Income, Investment Returns, Claim Expenses, and Operating of Net Profit on Sharia Life Insurance Company

Risk is a potential loss that a company cannot predict. However, risks can be mitigated by dividing or enduring each other. This research wants to re-examine the research gap with the same theme. This research uses quantitative methods with a descriptive approach. The results showed that premium income and investment returns partially affected net profit. In contrast, claim expenses and operating expenses did not have a significant effect on net profit. Then simultaneous test results show that Premium Income, Investment Returns, Claim Expenses, and Operating Expenses to Net Profit together or simultaneously have a significant effect on net profit in Sharia life insurance.

The Alternative Rasio as Early Warning System Ratio to Examined Sharia Life Insurance Companies in Indonesia

The Alternative Rasio as Early Warning System Ratio to Examined Sharia Life Insurance Companies in Indonesia

Profitability Antecedents of Sharia Life Insurance Companies

This study aims to determine the effect of internal company factors on the profitability of sharia life insurance companies. The sampling technique used was purposive sampling with the object of research being sharia life insurance companies registered with the Financial Services Authority between 2017-2020. The analysis technique used is multiple linear regression analysis using the Stata 24 application. The results show that partially investment returns have a significant positive effect, and claims have a significant negative effect on profitability. Meanwhile, the premium growth ratio, liquidity and risk based capital are not significant in influencing profitability

Analysis of the Influence of Investment, Premium Income, and Tabarru' Funds on Sharia Insurance Company Profits

This study aims to determine investment, premium income, and tabarru funds on profits of sharia life insurance companies in Indonesia. This study tested the hypothesis which stated that there was an effect of investment, premium income, and tabarru funds on profits. This data collection technique uses a purposive sampling technique with certain criteria. The population in this study were 24 sharia life insurance companies registered with the Financial Services Authority and the sample in this study were 6 sharia life insurance companies. Data analysis technique using multiple linear regression analysis. The research results showbased on the results of the regression test and t test investment has a positive and significant effect on insurance company profits. The tcount value is positive, meaning that the higher the investment, the higher the profit earned by the sharia life insurance company.Based on the results of the regression test and the t test, premium income has a positive and significant effect on insurance company profits. The tcount value is positive, meaning that the higher the premium income, the higher the profit earned by the sharia life insurance company.Based on the results of the regression test and t test, tabarru funds have a negative and significant effect on insurance company profits. The tcount value is negative, meaning that the higher the Tabarru fund, the lower the profit earned by the sharia life insurance company.

Factors Affecting the Asset Growth of Indonesian Shaaria Life Insurance Companies

AbstractPurpose – This study aims to provide an overview and analysis of how premiums, claims, and investment results have affected asset growth in Indonesian Sharia life insurance companies from 2015 to 2020.Methodology - In this work, quantitative causality methodologies were used as the research methodology. The Financial Services Authority-registered Sharia life insurance company serves as the study's population (FSA). The method used for sampling in research is by purposive sampling with the number of samples as many as eleven Sharia life insurance companies in Indonesia for 6 years of research.Findings - The dependent variables in this study are asset growth and independent variables in this research are premiums, claims and investment returns. The results showed that premiums affect the growth of assets in the negative direction, claims affect the growth of assets in the negative direction and investment returns positively affect the growth of assets.Keywords: Premiums, Claims, Investment Results and Asset Growth

Efficiency of Sharia Life Insurance in Indonesia and Malaysia: The Effect of Profitability and Firm Size

The performance of sharia life insurance in Indonesia and Malaysia has increased and decreased, the declining performance of sharia life insurance causes low income, indicating inefficiency. Inefficiency has adverse effects that will hinder the firm's growth. The purpose of this study is to measure the technical efficiency value of 24 sharia life insurance companies and analyze the effect of profitability level and firm size on the level of sharia life insurance efficiency in Indonesia and Malaysia. The methods used in this study are descriptive and quantitative with causality design. In this study using purposive sampling technique with a total sample of 14 sharia life insurance in Indonesia and 10 sharia life insurance in Malaysia with a total of 144 observations. The data were analyzed by Data Envelopment Analysis (DEA) and tobit regression analysis methods. The results showed that the level of efficiency of sharia life insurance with the average Malaysian firm is more efficient than Indonesian companies. The level of profitability with the average is in the healthy category. The average firm size is in the category of large companies. The level of profitability and the size of the enterprise partially have a positive and significant effect on the level of efficiency. The practical implications of this study are that companies must pay attention to factors that can increase their level of efficiency by reducing operational costs and maintaining and increasing productive assets carefully.

Determinan Proporsi Dana Tabarru’ pada Lembaga Keuangan Asuransi Jiwa Syariah

Financial management in Islamic insurance companies uses a split fund system. It is also supported by PMK Number 18/PMK.010/2020, which emphasizes that operators or sharia insurance companies must separate wealth by tabarru' fund obligations from the obligations and assets of company funds. The separation of funds has been carried out since participants pay contributions (premiums) at the beginning of the transaction. The purpose of this study is to analyze the factors that influence the proportion of tabarru' funds in Sharia Life Insurance companies. This research is a quantitative research, and the source of the data obtained is secondary data. The population is 21 Sharia Life Insurance companies registered with OJK. The sample of this study uses a purposive sampling technique by producing 16 sharia life insurance companies registered with the OJK, using annual financial statements according to the variables used during the period (2017-2019). Data analysis uses panel data regression analysis with fixed effects model which is processed using eviews 9. The findings from this research show that claims, sharia reinsurance, and operating expenses have a significant effect, while the growth of tabarru' funds and investment returns of tabarru' funds have no significant effect. With the coefficient of determination (R square) 0.775396 which means claims, sharia reinsurance, operating expenses, growth of tabarru' funds and investment returns of tabarru' funds can explain 77% of the proportion of tabarru' funds and the rest is influenced by other variables outside the study..
 Keywords: Proportion of Tabarru' Funds, Sharia Life Insurance, Separation of Funds