<![CDATA[The objective of this research is to analyze the effect of leverage, risk-based capital, and underwriting result on profitability. Leverage (proxied by debt-to-equity ratio), risk-based capital, and underwriting result are used as the dependent variables estimated to be influential to profitability, i.e. the dependent variable, which is proxied by return on equity. This study was conducted on insurance companies listed on the Indonesia Stock Exchange. The data was obtained by accessing the website of the Indonesia Stock Exchange and the companies’ published annual reports. Using purposive sampling, eight listed companies during the 2016-2020 were selected as the sample. The results of the multiple linear regression have led to findings that leverage positively and significantly affects profitability and that risk-based capital and underwriting result do not affect it. The findings of this study can be used by insurance company managers to maintain their superior financial performance by optimizing profitability and controlling leverage.]]>
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