Jakarta – The Financial Services Authority OJK recorded Rp21.2 trillion in insurance sector premiums collected in July 2021, with data of roughly Rp13.6 trillion in life insurance and Rp7.6 trillion in general insurance and reinsurance.

Furthermore, fintech P2P lending in the same period recorded a growth in the financing debit balance of Rp24.22 trillion.

Meanwhile, receivables from finance companies continued to improve, albeit being in the contraction zone, with negative growth of 9.9 % YoY in July 2021.

"Risk-Based Capital in the life insurance and general insurance industries was recorded at 653.74% and 346.73%, respectively, well above the regulatory threshold of 120%. Likewise, the gearing ratio of finance companies which was recorded at 1.99 times, far below the maximum limit of 10 times," said Deputy Commissioner for Public Relations and Logistics Anto Prabowo in his statement on Friday (27/8).

According to A