The Solvency Level of Sharia Insurance Companies in Indonesia (A Critical Analysis Study)

Ai Fitri Nurlatifah; Rossje V Saputri

doi:10.29240/ajis.v7i2.5122

The Solvency Level of Sharia Insurance Companies in Indonesia (A Critical Analysis Study)

Ai Fitri Nurlatifah, Rossje V Saputri

Abstract

This study aimed to determine the determinants of the solvency level of Islamic insurance companies in Indonesia. The independent variables used in this study are BOC, BOD, SSB and SOC, tabarru’ funds, contribution, investment growth, RBK, inflation and GDP. While the control variables used are size, volume of capital, leverage and liquidity as control variables. The sample in this study used a purposive sampling technique, namely 43 companies with a total number of 215 observations. The observation period was from 2017-2021 and the data analysis method used the data regression panel which was processed using E-views 12 software. Based on the test results, it was shown that simultaneously BOC, BOD, SSB and SOC, tabarru’ funds, contribution, investment growth, RBK, inflation and GDP affect the solvency level. partially, the board of commissioners, tabarru’ funds and investment growth have a positive effect, while SOC, contribution and RBK have a negative effect on the solvency level of Islamic insurance companies in Indonesia. Meanwhile, BOD, SSB, Inflation and GDP have no effect on the level of solvency.

Keywords

Solvency Level; Financial Performance

Full Text:

PDF

References

Ahzar, Fahri Ali, Samsul Rosadi, and Asiah Wati. “Corporate Governance, Karakteristik Dewan Pengawas Syariah Dan Maqoshid Sharia Index Pada Perbankan Syariah Di Indonesia.” AKTSAR: Jurnal Akuntansi Syariah 4, no. 2 (2021): 241. https://doi.org/10.21043/aktsar.v4i2.12730.

Alifianingrum, Rosyda, and Noven Suprayogi. “Faktor-Faktor Yang Mempengaruhi Surplus Underwriting Dana Tabarru’ Pada Perusahaan Asuransi Jiwa Syariah.” Jurnal Ekonomi Syariah Teori Dan Terapan 5, no. 2 (2019): 143. https://doi.org/10.20473/vol5iss20182pp143-157.

Ambarwati, Samiari, and Fatin Fadhilah Hasib. “Pengaruh Ukuran Perusahaan, Hasil Investasi, Dan Profitabilitas Terhadap Solvabilitas Asuransi Syariah Di Indonesia Periode 2012-2016.” Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business) 4, no. 2 (2018): 91. https://doi.org/10.20473/jebis.v4i2.9807.

Awrasya, J F, and R Kusumaningtias. “Pengaruh Rasio Early Warning System Dan Good Corporate Governance Terhadap Tingkat Solvabilitas Pada Asuransi Jiwa Syariah.” Jae (Jurnal Akuntansi …, no. 2017 (2021): 13–26. https://doi.org/10.29407/jae.v6i2.15830.

Dermawan, Wildan Dwi. “Analisis Risk Based Capital Untuk Mengetahui Kesehatan Keuangan Asuransi Di Indonesia.” Forum Ekonomi 23, no. 1 (2021): 12–19. http://journal.feb.unmul.ac.id/index.php/FORUMEKONOMI.

Devy, Happy Sista, Kholda Anaqoh, Fatimah Zahra Fakir, Fakultas Ekonomi, and Iain Pekalongan. “Tabarru ’ Fund and Solvability In Affecting The Profitability of The Life Insurance Sharia in Indonesia” 8, no. 02 (2022): 1318–23.

Entherthiman Galvani Tampubolon, Dina Arfianti Siregar. “Pengaruh Profitabilitas Dan Ukuran Perusahaan Terhadap Pengungkapan Tanggungjawab Sosial Pada Perusahan Asuransi Yang Terdaftar Di Bursa Efek Indonesia.” AKUNTABILITAS: Jurnal Penelitian Dan Pengembangan Akuntansi 12, no. 1 (2019): 69–80. https://doi.org/10.29259/ja.v12i1.9309.

Finance, Icd-refinitiv Islamic, and Development Report. Progressing Through Development, 2020.

Hasanah, Firliyati, and Mustafa Kamal. “Faktor Determinan Perolehan Surplus ( Defisit ) Underwriting Dana Tabarru ’ Pada Asuransi Jiwa Syariah.” Jurnal Auntansi Dan Keuangan Islam (P-ISSN: 2338-2783) (E-ISSN:2549-3876) 10, no. 1 (2022): 55–74.

Hemrit, Wael. “Determinants Driving Takaful and Cooperative Insurance Financial Performance in Saudi Arabia.” Journal of Accounting and Organizational Change 16, no. 1 (2020): 123–43. https://doi.org/10.1108/JAOC-03-2019-0039.

Kantakji, Mazhar Hallak, Baharom Abdul Hamid, and Syed Othman Alhabshi. “What Drives the Financial Performance of General Takaful Companies?” Journal of Islamic Accounting and Business Research 11, no. 6 (2020): 1301–22. https://doi.org/10.1108/JIABR-06-2018-0077.

Kotey, Richard Angelous, Richard Akomatey, and Baah Aye Kusi. “Exploring the Nonlinear Effect of Size on Profitability: Evidence from an Insurance Brokerage Industry in an Emerging Market.” African Journal of Economic and Management Studies 12, no. 3 (2021): 381–99. https://doi.org/10.1108/AJEMS-05-2020-0228.

Kusmayadi, D, I Firmansyah, and ... “The Roleof Sharia CommitteeandBoardofDirector in Improving The Performance of Islamic Insurance Companies.” Turkish Journal of … 13, no. 02 (2022): 31–42. https://turcomat.org/index.php/turkbilmat/article/view/12117.

Laida, R, M Muslikhati, and F Aprilianto. “Analisis Pengaruh Variabel Makroekonomi Terhadap Hasil Investasi Pada Perusahaan Asuransi Syariah Yang Terdaftar Pada Otoritas Jasa Keuangan Periode 2015 ….” International Journal of … 1, no. September (2021): 10–19. https://ejournal.umm.ac.id/index.php/ijiedi/article/view/17973.

Leviany, Tevi, and Wiwin Sukiati. “Pengaruh Risk Based Capital Terhadap Profitabilitas Pada Perusahaan Asuransi Jiwa.” Jurnal ASET (Akuntansi Riset) 6, no. 1 (2017): 1. https://doi.org/10.17509/jaset.v6i1.8993.

Menteri Keuangan Repulik Indonesia. “Keputusan Menteri Keuangan Republik Indonesia Nomor 424/KMK.06/2003 Tentang Kesehatan Keuangan Perusahaan Asuransi Dan Perusahaan Reasuransi,” 2003.

Mentri Keuangan Republik Indonesia. “Peraturan Menteri Keuangan Republik Indonesianomor 53/Pmk.010/2012 Tentang Kesehatan Keuangan Perusahaan Asuransi Dan Perusahaan Reasuransi,” 2012, 1–38. https://www.ojk.go.id/id/kanal/iknb/regulasi/asuransi/peraturan-keputusan-menteri/Pages/peraturan-menteri-keuangan-nomor-53-pmk-010-2012-tentang-kesehatan-keuangan-perusahaan-asuransi-dan-perusahaan-reasuran.aspx.

Mokhtar, Hamim Syahrum Ahmad, Izwayu Abdul Aziz, and Noraziyah Md. Hilal. “Surplus - Sharing Practices of Takāful Operators in Malaysia.” ISRA International Journal of Islamic Finance 7, no. 1 (2015): 99–126. https://doi.org/10.12816/0021398.

Munawaroh, Sofiyatul, and Hasan Mukhibad. “Determinan Yang Mempengaruhi Financial Performance Pada Perusahaan Asuransi Umum Syariah Di Indonesia.” IQTISHADIA Jurnal Ekonomi & Perbankan Syariah 6, no. 2 (2019): 155–66. https://doi.org/10.19105/iqtishadia.v6i2.2425.

Nurlatifah, Ai Fitri, and Sepky Mardian. “Kinerja Keuangan Perusahaan Asuransi Syariah Di Indonesia: Surplus on Contribution.” Akuntabilitas 9, no. 1 (2016): 73–96. https://doi.org/10.15408/akt.v9i1.3590.

Peraturan Menteri Keuangan. “Menas9_1389348862.Pdf,” 2010.

Safitri, Estiningtyas Kusuma, and Noven Suprayogi. “Analisis Rasio Kesehatan Keuangan Dana Tabarru’ Yang Mempengaruhi Profitabilitas Pada Asuransi Syariah Di Indonesia (Periode 2012-2014).” Jurnal Ekonomi Syariah Teori Dan Terapan 4, no. 1 (2017): 73. https://doi.org/10.20473/vol4iss20171pp73-88.

Sari, Maya. “Penerapan Good Corporate Governance Dalam Meningkatkan Kinerja Keuangan.” Prosiding The National Conference on Management and Business (NCMAB) 2018, 2018, 17–27. https://publikasiilmiah.ums.ac.id/bitstream/handle/11617/9880/2. Maya Sari.pdf?sequence=1&isAllowed=y.

Wardhani, Risma Kartika Mulya, and Dina Fitrisia Septiarini. “Faktor-Faktor Yang Mempengaruhi Kontribusi Peserta Pada Perusahaan Asuransi Jiwa Syariah Di Indonesia.” Jurnal Ekonomi Syariah Teori Dan Terapan 4, no. 10 (2017): 802. https://doi.org/10.20473/vol4iss201710pp802-816.

DOI: http://dx.doi.org/10.29240/ajis.v7i2.5122