PT BNI Life Insurance, or BNI Life, targets its Risk-Based Capital (RBC) to increase to 688.43% in 2024.

Acting President Director of BNI Life, Eben Eser Nainggolan, noted that BNI Life's RBC reached 680.58% in 2023, significantly above the minimum requirement set by the Financial Services Authority (OJK) of 120%.

"That figure rose from the previous year of 673.31%, and the target for 2024 is 688.43%," explained Eben to Kontan on Sunday (3/3).

Previously, Eben observed a decline in the life insurance industry's RBC in 2023. He attributed the decrease in RBC in 2023 to two significant factors, namely adjustments related to PAYDI and the preparation for implementing IFRS17 in the life insurance sector. Despite this, with the average RBC of the life insurance industry at 479.88%, Eben stated that this figure is still far above the regulatory requirements.

"The decline in the industry's RBC does not directly impact the companies because the RBC level is an indicator of the health of each insurance company," said Eben.

This aligns with data recorded by the OJK regarding life insurance RBC at 479.88%. Although still well-maintained, the OJK revealed that RBC is in a decreasing trend, with the OJK closely monitoring several insurance companies.

To maintain BNI Life's RBC level, Eben revealed that strategies have been prepared. He stated that BNI Life will pay more attention to managing the company's investments and cash flow, considering the quality of assets and liquidity required.

"These will be managed according to the obligations promised to customers," he added.