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Oona Insurance Indonesia reported 40% year-on-year GWP growth and a 55% increase in net income in the first half of 2026. The company maintained its position among Indonesia’s top 10 motor insurers while exploring selective acquisition opportunities across Southeast Asia.
Less than four years after entering Indonesia, Oona has established itself among the country's Top 10 motor insurers while continuing to gain market share in a contracting insurance market.
Jakarta, 20 August 2026 – Oona Insurance Indonesia today reported another strong set of first-half results, growing gross written premiums (GWP) by 40% year-on-year while increasing net income by 55%, despite Indonesia's general insurance market contracting by approximately 2% over the same period.
The strong performance underscores Oona's ability to deliver profitable growth through disciplined underwriting, diversified distribution and continued investment in technology. Less than four years after entering Indonesia, the company has maintained its position among the country's top 10 motor insurers by GWP while climbing nine places to become Indonesia's 23rd largest non-life insurer by GWP.
The strong performance provides a platform for Oona's next phase of growth as the Group actively evaluates acquisition opportunities across Southeast Asia. Indonesia remains one of Oona's highest strategic priorities as it looks to complement its organic growth with selective acquisitions that strengthen its long-term regional platform.
Abhishek Bhatia, Founder and Group Chief Executive Officer of Oona Insurance, said: "Building a new insurance company is one challenge. Transforming an established insurer while it continues serving customers every day is a much bigger challenge. Over the past four years, that's exactly what we've done in Indonesia—modernising technology, strengthening underwriting, expanding distribution and reshaping the business.
Growing 40% in a market that contracted by approximately 2%, while increasing net income by 55%, demonstrates that the transformation is delivering results. More importantly, we've developed capabilities that will become increasingly valuable as the industry consolidates. We're entering the next phase of Oona's journey, building on what we've achieved over the past four years while selectively pursuing opportunities to expand our presence across Southeast Asia."
Oona's growth has been supported by a diversified distribution model spanning automotive partnerships, banks, brokers, agents, digital partnerships and its direct-to-consumer business. Across its digital partnerships, Oona's insurance solutions are embedded into services such as e-wallets, ride-hailing and travel platforms, giving customers more convenient ways to access protection.
The strength of this model was reflected in broad-based growth across Oona's portfolio, with continued expansion across motor, property, health and personal accident insurance. Indonesia remains one of Asia's most underinsured insurance markets, creating substantial long-term opportunities as consumers accumulate more assets and businesses continue to expand. Small and medium-sized enterprises are the backbone of Indonesia's economy and, as they invest and grow, Oona sees increasing demand for commercial property and business protection solutions alongside its established motor insurance portfolio.
Central to this strategy is Oona's technology platform, which enables seamless integration with distribution partners while equipping approximately 1,000 agents with digital tools to quote, issue and service policies more efficiently. This allows Oona to work at the pace of its partners, embedding insurance directly into partner customer journeys and launching new solutions more quickly while making insurance simpler and more accessible for customers.
Vincent C. Soegiarto, President Director of Oona Insurance Indonesia, said: "The transformation of our Indonesia business has been built on consistent execution rather than any single initiative. We've strengthened our partnerships, broadened our product portfolio, invested in technology and maintained underwriting discipline through different market conditions. That has enabled us to consistently outperform the market while building a stronger, more resilient business that is well positioned for the next stage of growth in Indonesia.”
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Headquartered in Singapore, Oona Insurance is the leading digital general insurer in Southeast Asia, backed by global private equity firm Warburg Pincus. Established in 2022, Oona Insurance aims to become the general insurer of choice for both partners and customers through a buy-and-build strategy, leveraging the pillars of superior customer service, advanced technology, and a well-established brand across Southeast Asia. The firm currently operates in two markets in the region: Indonesia and the Philippines.
In Indonesia, Oona operates through its licensed general insurance entity, PT Asuransi Bina Dana Arta, Tbk. Oona Indonesia, the new unified brand of this entity, has been offering quality products and services since early 2023, serving as a solid foundation for Oona Insurance's expansion across Southeast Asia's fast-growing insurance market.
Oona Indonesia is licensed and supervised by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan).
For more information on Oona Insurance, please visit: www.oona-insurance.com
