Safetyslug.com – Sun Life Indonesia Reports 41% Growth in New Business Premiums in Q1 2026, Launches SHIFA Signature
PT Sun Life Financial Indonesia recorded a 41% increase in new business premiums during the first quarter of 2026 compared to the same period last year. Amid this strong growth, the company also launched a new sharia-based health protection product called Salam Healthier Future Assurance (SHIFA) Signature to expand its health insurance market in Indonesia.
Strong Business Performance Supported by Distribution Expansion
Sun Life Indonesia President Director Albertus Wiroyo stated that the company’s business growth was supported by stronger distribution through banking partnerships and agency channels.
“For more than three decades in Indonesia, Sun Life has been a trusted partner for Indonesian families in achieving financial security and healthier lives. This performance reflects growing trust and serves as Sun Life Indonesia’s responsibility to continue delivering solutions relevant to today’s societal needs,” he said during the product launch event in Jakarta on Friday (May 8, 2026).
In addition to the 41% rise in new business premiums, Sun Life Indonesia also posted a 236% year-on-year increase in net profit in Q1 2026.
Rising Demand for Health Protection Amid Medical Inflation
The need for health protection in Indonesia continues to increase as health risks rise alongside soaring medical costs. Sun Life noted that medical cost inflation in Indonesia reached 19.8% throughout 2025.
At the same time, life insurance penetration in Indonesia remains relatively low, accounting for less than 3% of gross domestic product (GDP), while only around 6.6% of the population currently owns life insurance coverage.
SHIFA Signature Designed to Complement BPJS and Employer Health Benefits
To address this protection gap, Sun Life introduced SHIFA Signature as a comprehensive sharia-based health insurance solution designed to complement Indonesia’s BPJS national health insurance and employer-provided healthcare facilities.
The product offers coverage for:
- Hospitalization
- Surgical procedures, including robotic surgery
- Outpatient care related to surgery
- Ambulance services
- Telehealth
- Traditional Chinese medicine
- Certain cancer treatments, subject to policy terms
Extensive Coverage with High Annual Limits
Customers can choose from seven protection regions, ranging from domestic Indonesian coverage to worldwide protection.
SHIFA Signature provides:
- Annual health benefits of up to IDR 15 billion
- Limit Booster benefits of up to IDR 35 billion
- Cashless healthcare services
According to Albertus Wiroyo, SHIFA Signature is designed to meet the evolving protection needs of modern society.
“We see that public demand for protection continues to evolve. Through SHIFA Signature, Sun Life offers comprehensive sharia-based health protection that not only covers common medical needs but also extends to modern healthcare solutions and traditional approaches, ensuring customers receive relevant protection for today’s diverse health challenges,” he explained.
Distribution Through Agency and Banking Partnerships
SHIFA Signature will be marketed through Sun Life Indonesia’s agency network as well as strategic banking partnerships, including:
- PT Bank CIMB Niaga Tbk
- CIMB Niaga Syariah
- Bank Muamalat Indonesia
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