Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Nadia Maharani, Fitri N. Heriani
In line with the Widodo Administration's aim of accelerating infrastructure projects throughout Indonesia, the Indonesian Chamber of Commerce and Industry (Kamar Dagang dan Industri – Kadin) has stressed the need for a national public-insurance program to play an active and aggressive financing role in order to boost economic growth and accelerate the development of the nation's infrastructure.Rosan Roeslani, Kadin’s Deputy Chairman for Banking and Financial Affairs, stated on Tuesday that the allocation of funds for infrastructure projects within Indonesia was currently dominated by foreign financing companies, as domestic insurance companies generally concerned themselves with less risky investments, such as bank deposits and commercial deals. Mr. Roeslani has thus urged the local insurance sector to step out of its comfort zone of investing mainly in deposits and securities.
“Foreign investors dominate ventures in infrastructure financing here, while national insurance companies remain at the subcontractor level,” Mr. Roeslani declared.
According to Mr. Roeslani, an estimated IDR 5.5 trillion worth of infrastructure development will be on the table over the next four years. The State, Regional, and state-owned enterprises budgets have already managed to raise 70% of the required infrastructure funding. A 30% funding shortfall still remains however, and in the absence of any local infrastructure banks, the path is clear for private corporations to step in.
“Third party funding (DPK) from national commercial banks has reached approximately IDR 4.15 trillion with a Loan-to-Deposit Ratio (LDR) of about IDR 88 trillion. With such a large LDR, banks will choose short-term business over investing in infrastructure projects,” Mr. Roesiani explained.
Sukatmo Padmosukarso, President Director of Indonesia Infrastructure Finance (IIF) is of a similar opinion to Mr. Roesiani and also realizes the importance of national insurance in the funding of infrastructure projects involving such utilities as electricity, oil and gas, information and communications technologies, and public transportation.
“Insurance companies have an important role to play in infrastructure projects by serving as a guarantee in the area of risk management, and also through financing and funding,” Mr. Padmosukarso stated.
Responding to Kadin’s petition, Julian Noor, Executive Director of the General Insurance Association (AAUI), explained that the public-insurance sector was in the process of studying the possible guarantee of various infrastructure projects.
Mr. Noor has also suggested an infrastructure-tender process in order to attract national insurance companies into financing infrastructure development. Mr. Noor believes that once the issue has been settled, a significant amount of premium could be generated from state-owned enterprise guarantees.
According to Mr. Noor, if national insurance companies continue to abstain from the financing of infrastructure projects, then both state and national insurance companies will suffer losses. This will also lead to pressure to prioritize foreign-built infrastructure, as well as to budget increases, national insurance customers migrating to foreign insurance companies and, ultimately, a trade deficit.
“A general insurance policy can cover all of the infrastructure projects announced by the President. However the limited capabilities of our domestic insurance companies may not be up to covering the enormous scale of some of these new projects,” Mr. Noor concluded.
(hot/ja/sp)
Nadia Maharani, Fitri N. Heriani
In line with the Widodo Administration's aim of accelerating infrastructure projects throughout Indonesia, the Indonesian Chamber of Commerce and Industry (Kamar Dagang dan Industri – Kadin) has stressed the need for a national public-insurance program to play an active and aggressive financing role in order to boost economic growth and accelerate the development of the nation's infrastructure.Rosan Roeslani, Kadin’s Deputy Chairman for Banking and Financial Affairs, stated on Tuesday that the allocation of funds for infrastructure projects within Indonesia was currently dominated by foreign financing companies, as domestic insurance companies generally concerned themselves with less risky investments, such as bank deposits and commercial deals. Mr. Roeslani has thus urged the local insurance sector to step out of its comfort zone of investing mainly in deposits and securities.
“Foreign investors dominate ventures in infrastructure financing here, while national insurance companies remain at the subcontractor level,” Mr. Roeslani declared.
According to Mr. Roeslani, an estimated IDR 5.5 trillion worth of infrastructure development will be on the table over the next four years. The State, Regional, and state-owned enterprises budgets have already managed to raise 70% of the required infrastructure funding. A 30% funding shortfall still remains however, and in the absence of any local infrastructure banks, the path is clear for private corporations to step in.
“Third party funding (DPK) from national commercial banks has reached approximately IDR 4.15 trillion with a Loan-to-Deposit Ratio (LDR) of about IDR 88 trillion. With such a large LDR, banks will choose short-term business over investing in infrastructure projects,” Mr. Roesiani explained.
Sukatmo Padmosukarso, President Director of Indonesia Infrastructure Finance (IIF) is of a similar opinion to Mr. Roesiani and also realizes the importance of national insurance in the funding of infrastructure projects involving such utilities as electricity, oil and gas, information and communications technologies, and public transportation.
“Insurance companies have an important role to play in infrastructure projects by serving as a guarantee in the area of risk management, and also through financing and funding,” Mr. Padmosukarso stated.
Responding to Kadin’s petition, Julian Noor, Executive Director of the General Insurance Association (AAUI), explained that the public-insurance sector was in the process of studying the possible guarantee of various infrastructure projects.
Mr. Noor has also suggested an infrastructure-tender process in order to attract national insurance companies into financing infrastructure development. Mr. Noor believes that once the issue has been settled, a significant amount of premium could be generated from state-owned enterprise guarantees.
According to Mr. Noor, if national insurance companies continue to abstain from the financing of infrastructure projects, then both state and national insurance companies will suffer losses. This will also lead to pressure to prioritize foreign-built infrastructure, as well as to budget increases, national insurance customers migrating to foreign insurance companies and, ultimately, a trade deficit.
“A general insurance policy can cover all of the infrastructure projects announced by the President. However the limited capabilities of our domestic insurance companies may not be up to covering the enormous scale of some of these new projects,” Mr. Noor concluded.
(hot/ja/sp)