THE DETERMINANT FACTORS OF SOLVENCY ON SHARIA LIFE INSURANCE IN INDONESIA - Yulita Widya Afiqah; Nisful Laila (Universitas Airlangga, 2021)
ABSTRAKPenelitian bertujuan untuk menilai ada tidaknya pengaruh ukuran perusahaan, pertumbuhan kontribusi, hasil investasi, dan likuiditas terhadap solvabilitas yang diproksikan dengan Risk Based Capital pada Asuransi Jiwa Syariah di Indonesia secara parsial ataupun simultan. Penentuan sampel dengan metode purposive sampling dan ditemukan 10 perusahaan sampel. Dengan bantuan aplikasi Eviews9 melalui uji regresi data panel didapatkan persamaan RBC = -563.8638 + 44.05145 Ukuran + 1.922926 Kontribusi - 0.333289 Investasi + 0.911149 Likuiditas + e. Hasil penelitian menunjukkan keempat variabel bersama-sama memengaruhi solvabilitas. Ukuran perusahaan memiliki pengaruh positif signifikan sementara itu pertumbuhan kontribusi, hasil investasi, dan likuiditas menunjukkan tidak adanya pengaruh terhadap solvabilitas Asuransi Jiwa Syariah di Indonesia periode 2015-2019.Kata Kunci: Ukuran Perusahaan, Pertumbuhan Kontribusi, Hasil Investasi, Likuiditas, Solvabilitas, Asuransi Jiwa Syariah. ABSTRACTThe purpose of this study isto determine whether there is an effect of company size, premium growth, investment returns, and liquidity on solvency as proxied by Risk Based Capital on sharia life insurance in Indonesia partially or simultaneously. Determination of the sample by purposive sampling method found 10 sample companies. With the help of Eviews9 application through the panel data regression test, it is obtained the equation RBC = -563.8638 + 44.05145 Size + 1.922926 Contribution - 0.333289 Investment + 0.911149 Liquidity + e. The results showed that the four variables together affect solvency. Company size has a significant positive effect meanwhile the premium growth, investment returns, and liquidity shows no influence on the solvency of sharia life insurance in Indonesia period 2015-2019.Keywords: Company Size, Premium Growth, Investment Return, Liquidity, Solvency, Sharia Life Insurance. REFERENCESAbduh, M., & Zein Isma, S. N. (2017). Economic and market predictors of solvency of family takaful in Malaysia. Journal of Islamic Accounting and Business Research, 8(3), 334–344. https://doi.org/10.1108/JIABR-06-2015-0030Abera, H. B., & Yirsaw, T. D. (2020). Firm specific determinants of general insurance business solvency margin: Evidence from Ethiopia, 11(3), 21–31. https://doi.org/10.9790/5933-1103052131Caporale, G. M., Cerrato, M., & Zhang, X. (2017). Analysing the determinants of insolvency risk for general insurance firms in the UK. Journal of Banking and Finance, 84, 107–122. https://doi.org/10.1016/j.jbankfin.2017.07.011Fitriani, S. (2015). Pengaruh risk based capital terhadap profitabilitas asuransi syariah AXA Mandiri periode 2011-2013. Skripsi tidak diterbitkan. Bandung: Universitas Islam Bandung.Idris, M., & Paulus, D. H. (2020). Sharia life insurance: Legal basis and operational systems. Jurnal Hukum Prasada, 7(1), 45–52. https://doi.org/10.22225/jhp.7.1.1342.45-52Jawad, Y. A. L. A., & Ayyash, I. (2019). Determinants of the solvency of insurance companies in palestine. International Journal of Financial Research, 10(6), 188–195. https://doi.org/10.5430/ijfr.v10n6p188Kigen, W. K. (2014). The effect of firm size on profitability of insurance companies in Kenya. Unpublished master thesis. Kenya: University of Nairobi Nove.Moreno, I., Parrado-Martínez, P., & Trujillo-Ponce, A. (2020). Economic crisis and determinants of solvency in the insurance sector: New evidence from Spain. Accounting and Finance, 60(3), 2965–2994. https://doi.org/10.1111/acfi.12422Otoritas Jasa Keuangan. (2016). Peraturan Otoritas Jasa Keuangan Nomor 72/POJK.05/2016 tentang kesehatan keuangan perusahaan asuransi dan perusahaan reasuransi dengan prinsip syariah, 61 (2016). Retrieved from https://www.ojk.go.id/id/kanal/iknb/regulasi/asuransi/peraturan-ojk/Documents/Pages/POJK-tentang-Kesehatan-Keuangan-Perusahaan-Asuransi-dan-Perusahaan-Reasuransi-dengan-prinsip-syariah/SAL - POJK Kesehatan PAs PRs.pdfOtoritas Jasa Keuangan. (2019). Statistik IKNB syariah periode Desember 2019. Retrieved from https://www.ojk.go.id/id/kanal/syariah/data-dan-statistik/iknb-syariah/default.aspxKementerian Keuangan. (2011). Peraturan Menteri Keuangan Nomor 11/PMK.010/2011 tentang kesehatan keuangan usaha asuransi dan usaha reasuransi dengan prinsip syariah. Retrieved from https://jdih.kemenkeu.go.id/fulltext/2011/11 pmk.010 2011per.htmSrivastava, S. K., & Ray, A. (2013). Benchmarking Indian general insurance firms. Benchmarking: An International Journal, 20(1), 4–24. https://doi.org/10.1108/14635771311299461