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All Journal Jurnal Ekonomi Jurnal Indonesia Sosial Sains Eduvest - Journal of Universal Studies
Lenny Suardi
Universitas Indonesia
Aerospace Engineering Humanities Astronomy Biochemistry, Genetics & Molecular Biology Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Energy Environmental Science Health Professions Immunology & microbiology Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Neuroscience Physics Social Sciences

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 1 
THE EFFECT OF CREDIT GROWTH ON CREDIT RISK AT REGIONAL DEVELOPMENT BANKS IN INDONESIA Vicia Dwiartha Rini; Lenny Suardi
Jurnal Ekonomi Vol. 12 No. 3 (2023): Jurnal Ekonomi, 2023, September
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Credit risk is an important indicator in determining the health of a bank. This study aims to investigate the impact of credit growth on credit risk in Regional Development Banks in Indonesia. This research uses panel data regression methods on 21 Regional Development Banks in Indonesia for the period from 2011 to 2021, with data sourced from the annual financial reports of each bank. The results of the data analysis show that credit growth significantly affects credit risk. This study can provide information on the impact of the phenomenon of credit growth on credit risk in Regional Development Banks in Indonesia, which becomes the basis of information and policy consideration in optimizing credit levels and the depiction of credit risk in Regional Development Banks.
Analysis of Changes in Investment Placement Strategies of Life Insurance Companies on Indonesia from January 2020 to December 2023 Mariam Benazir; Lenny Suardi
Jurnal Indonesia Sosial Sains Vol. 7 No. 2 (2026): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v7i2.2244

Abstract

The life insurance sector is still striving to expand in Indonesia, while a number of macroeconomic and regulatory changes are also taking place. These developments compel the sector to adjust its strategies to remain profitable and continue expanding while complying with laws and regulations. In the midst of shifting industry conditions between early 2020 and late 2023, the author observes a notable shift in investment patterns among Indonesian life insurance companies and examines these circumstances as well as their causes. This journal employs qualitative methodologies by analyzing data consisting of investment asset portfolio information and investment returns for Indonesian life insurance companies. Observations and in-depth interviews were conducted with key investment personnel in several life insurance firms to identify the variables impacting investment strategy adjustments made by Indonesian life insurance companies during the aforementioned period. The study also evaluates the effect that these strategic shifts have on total investment income and the commensurability between the companies’ assets and liabilities. According to the analysis and observations, several factors—such as modifications to tax laws governing bond investments, adjustments to regulations applicable to life insurance companies, and a decline in unit-linked product sales—have driven these changes. In light of these conditions, there is a pressing need for more detailed regulations governing investment strategy mechanisms and pricing provisions related to investments.
The Effect of Minimum Equity Requirements on the Profitability oof General Insurance Companies in Indonesia Siti Ayu Setia Nastiti; Lenny Suardi
Eduvest - Journal of Universal Studies Vol. 6 No. 8 (2026): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v6i8.53258

Abstract

Indonesia’s general insurance industry plays an important role in maintaining financial system stability and providing protection against various financial risks. However, the introduction of Financial Services Authority Regulation (POJK) No. 23 of 2023, which increases minimum equity requirements, has created challenges for insurers, particularly regarding capital adequacy and profitability. This study aims to examine the effect of minimum equity requirements on the profitability and equity structure of general insurance companies in Indonesia. A quantitative approach was employed using panel data regression based on secondary data obtained from OJK Insurance Statistics and companies’ annual financial statements for 2021–2025. The sample comprised 67 general insurance companies, resulting in 335 observations. The results indicate that the implementation of POJK No. 23 of 2023 significantly increased insurers’ total equity, suggesting that the regulation encouraged companies to strengthen their capital structures. The regulation also demonstrated a positive effect on profitability, particularly Return on Equity (ROE), while its effect on Return on Assets (ROA) was comparatively weaker. However, compliance with the minimum equity threshold itself did not significantly affect either ROA or ROE. In conclusion, POJK No. 23 of 2023 is more effective in strengthening capital resilience and financial stability than in directly enhancing profitability among compliant general insurance companies.
Multi-Attribute Decision-Making Methods in Optimizing the Reinsurance Structure for Life Insurance Financing Products: A Case Study of PT Asuransi Jiwa Syariah XYZ Anindito Dwi Apriano; Lenny Suardi
Eduvest - Journal of Universal Studies Vol. 6 No. 8 (2026): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v6i8.53259

Abstract

Reinsurance structure plays a critical role in balancing risk exposure, financial stability, and profitability in life insurance companies, particularly for portfolios characterized by substantial claim variability and extreme losses. This study aims to determine the optimal combination of quota-share (QS) and excess-of-loss (XL) reinsurance parameters for financing life insurance products at PT Asuransi Jiwa Syariah XYZ. A quantitative case study approach was employed using historical company data, including policies, claims, reinsurance claims, premiums, and reinsurance premiums. Claim distributions were modeled to accommodate the characteristics of both body and tail losses. A total of 1,000 QS–XL alternatives were evaluated using four performance indicators: ruin probability, profit, variance of retained risk, and expected utility. The Complex Proportional Assessment (COPRAS) method was subsequently applied to rank the alternatives according to predetermined company preference weights. The results demonstrate a trade-off between risk retention and profitability, indicating that higher retention may increase profit while simultaneously increasing claim volatility and risk exposure. The COPRAS assessment identified the optimal structure at a quota-share retention proportion of 84.44% and an excess-of-loss retention limit of IDR 105,555,556. This study concludes that the COPRAS-based multi-attribute decision-making framework provides an objective and quantitative approach for selecting a reinsurance structure that balances profitability, utility, risk volatility, and ruin probability.
Survival Analysis of Tuberculosis Patients Among National Health Insurance Participants, 2015–2024 Agung Wicaksono; Lenny Suardi
Eduvest - Journal of Universal Studies Vol. 6 No. 8 (2026): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v6i8.53270

Abstract

Indonesia ranks second globally in TB incidence, with an estimated 1 million new cases annually. The majority of TB patient care costs in Indonesia are covered through the National Health Insurance program administered by BPJS Kesehatan. This research aims to analyze the time to death pattern of TB patients enrolled in JKN, identify the factors influencing it, and compare the performance of the Cox PH and AFT models. The data used are BPJS Kesehatan sample data from the 2015–2024 period, with an observation window from January 1, 2022 to December 31, 2024. The analysis was conducted on 111,946 patients, consisting of 10,083 patients (9.01%) who died and 101,863 patients (90.99%) who were censored. Analysis was carried out sequentially using the Kaplan-Meier method, the Cox PH Model, and the AFT Model with the Weibull distribution selected based on the best AIC, BIC, and Log-Likelihood values. Results showed a mean survival time of 879 days among TB patients. Age was the most dominant factor; patients above 60 years of age had a hazard ratio 8.09 times higher and a survival time 76% shorter compared to the 0–35 age group. Female patients had a survival time 28% longer than male patients. The PBI JK segment showed the highest mortality risk, while patients in Domicile 4 and 5 had shorter survival times compared to Domicile 1. The Schoenfeld residual test rejected the proportional hazards assumption, rendering the Weibull AFT model the most appropriate and best-fitting for this study.
Co-Authors Agung Wicaksono Anindito Dwi Apriano Dwi Nastiti Danarsari Husodo, Zaafri Ananto Mariam Benazir Ratih Dyah Kusumastuti Siti Ayu Setia Nastiti Vicia Dwiartha Rini Viverita Viverita