Indonesia Financial Group

Name

Indonesia Financial Group

Legal name

PT Indonesia Financial Group

Website

https://ifg.id

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: Life and health insurance premiums collected through IFG Life; general insurance premiums through Askrindo, Jasindo, and other subsidiaries; includes risk coverage for policyholders against losses, damages, and third-party liabilities.
2. Guarantee Services: Credit guarantee services through Jamkrindo for UMKM and cooperatives, and government-assigned guarantee programs providing risk coverage for credit facilities.
3. Investment Management: Asset management services through Bahana TCW Investment Management; securities and capital markets services through Bahana Sekuritas; venture capital through Bahana Artha Ventura.
4. Investment Advisory: Investment advisory services through Bahana Kapital Investa covering strategic planning, organizational decisions, financial planning, and human resource policies.
5. Property Management: Property management services through Grahaniaga Tatautama (GNTU) managing Graha CIMB Niaga building facilities including restaurants, clinics, banks, and fitness centers.
6. Reinsurance: Reinsurance services through Nasional Re providing risk coverage for insurance companies, allowing primary insurers to protect against large losses.
7. Sharia Insurance: Sharia-compliant insurance and guarantee products through Askrindo Syariah, Jamkrindo Syariah, and Jasindo Syariah based on shared risk and collective fund ownership principles.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Indonesia Financial Group (IFG) is a state-owned enterprise (BUMN) holding company that consolidates insurance, credit guarantee, and investment services through 11 subsidiaries. It offers life and health insurance (IFG Life), general insurance and guarantee (Askrindo, Jasindo, Jasa Raharja), credit guarantee for UMKM (Jamkrindo), sharia-compliant products, investment management (Bahana TCW), securities and investment banking (Bahana Sekuritas), venture capital, reinsurance, and property management. The One by IFG digital platform integrates these financial, health, and welfare solutions for Indonesian consumers.

Product overview

Indonesia Financial Group (IFG) is a State-Owned Enterprises (BUMN) holding company operating in insurance, guarantee, and investment sectors. The company offers a comprehensive portfolio of products and services including: One by IFG (digital integrated platform for finance, health, and welfare), Life and Health Insurance (through IFG Life), General Insurance and Guarantee (through Askrindo, Jasa Raharja, Jasindo), Investment Advisory and Business Capital (through Bahana Kapital Investa and Bahana Artha Ventura), Asset Management (through Bahana TCW), Property Management (through Grahaniaga Tata Utama), Securities and Investments (through Bahana Sekuritas), Sharia Insurance and Guarantee (through Askrindo Syariah, Jamkrindo Syariah, Jasindo Syariah), and Reinsurance (through Nasional Re). The group focuses on providing protection, trust, and sustainable added value for Indonesian society and economy through synergy and collaboration across its subsidiaries.

Differentiator

Problem solved

Functional benefit

Brands

• IFG Progress: Think tank established by Indonesia Financial Group as a source of progressive ideas and research.
• One by IFG
• IFG Corporate University
• IFG Integritas

Products and services

• One by IFG Integrated digital platform providing comprehensive solutions for finance, health, and welfare of Indonesian society, functioning as a digital ecosystem for IFG's financial and insurance products.
• Life and Health Insurance Life and health insurance services provided through IFG Life, offering comprehensive protection products for policyholders with focus on wellness and financial security.
• General Insurance and Guarantee General insurance and credit guarantee services covering risk coverage for losses, damages, liabilities, and third-party claims through subsidiaries Askrindo, Jasa Raharja, and Jasindo.
• Investment Advisory and Venture Capital Investment advisory and venture capital services provided through Bahana Kapital Investa and Bahana Artha Ventura, supporting MSMEs with financing and business management guidance.
• Asset Management Asset management services provided through Bahana TCW Investment Management, focused on efficient long-term asset allocation and portfolio optimization.
• Property Management Property management services for Graha CIMB Niaga building including facilities management, restaurants, food court, health clinic, bank, fitness center, and financial services through Grahaniaga Tata Utama.
• Securities and Investment Banking Securities and investment banking services with nearly 30 years of experience, offering IPO, equity, and investment banking services through Bahana Sekuritas.
• Sharia Insurance and Guarantee Sharia-compliant insurance and guarantee products based on risk-sharing principles offered through Askrindo Syariah, Jamkrindo Syariah, and Jasindo Syariah.
• Reinsurance Reinsurance services provided through Nasional Re, offering risk coverage protection for insurance companies to protect their assets and finances from potential losses.

Quantifiable outcome

• Jamkrindo Syariah net profit increased from Rp54.11 billion to Rp141.03 billion (160% increase) in fiscal year 2025
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Ministry of Culture (Kementerian Kebudayaan)coreStrategic or Co-development Partner · 4 July 2026IFG collaborates with Indonesia's Ministry of Culture to support strengthening of the national cultural ecosystem. The collaboration involves cultural preservation efforts at heritage buildings including assets managed by PT Asuransi Jiwa IFG in the Asia Afrika Bandung area. This partnership demonstrates IFG's commitment to national cultural heritage while creating social and economic impact.
• National Media PartnersminorGTM or Marketing Partner · 12 May 2026IFG collaborated with national media organizations to conduct the Video Storytelling Competition themed 'Hidup Penuh Rencana, Risiko Tak Pernah Minta Izin'. The competition attracted 123 participants sharing stories about risk awareness through creative storytelling on TikTok and Instagram Reels platforms.
• IFG International Conference 2022 ParticipantscoreStrategic or Co-development Partner · 30 May 2022IFG International Conference 2022 gathered over 20 panelists from more than 9 countries worldwide under the theme 'Insurance and Pension Fund: Transitioning into Digital and Green Economy Ecosystem'. Notable speakers included Coordinating Minister Airlanga Hartarto, Finance Minister Sri Mulyani, and Vice Minister Kartika Wirdjoatmojo.
• Askrindo and Jamkrindo Subsidiary IntegrationcoreStrategic or Co-development PartnerIFG facilitates integration between Askrindo and Jamkrindo subsidiaries, including their Islamic divisions (Askrindo Syariah and Jamkrindo Syariah), through programs like BRISK Walk 2026. The goal is to build synergy through increased capital capacity, expanded networks and market share, strengthened products and risk management, and optimized digitalization and operational efficiency.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Asuransi Central Asia: Indonesian general insurance company offering property, casualty, motor, and specialty insurance products. Directly comparable to IFG's general insurance subsidiaries (Jasindo, Askrindo, Jasa Raharja) across commercial and consumer general insurance lines.
• AIA Indonesia: Major international life insurer with significant Indonesian presence offering individual life, health, and group benefits. Directly competes with IFG Life for premium life insurance customers in Indonesia.
• Allianz Life Indonesia: Major private life and health insurer in Indonesia offering individual and group products with strong digital capabilities. Directly competes with IFG Life for the same individual and corporate life insurance customer base across Indonesia.
• Manulife Indonesia: Major private life insurance and pension provider in Indonesia offering group and individual products. Comparable to IFG Life in life/health product mix and corporate group benefits focus.
• Prudential Indonesia: Leading private life insurer in Indonesia with extensive agency network and investment-linked products. Directly competes with IFG Life for individual life, health, and savings products across urban Indonesian markets.
• BPJS Ketenagakerjaan: State-owned social security agency managing employment programs including pension, work accident, and death benefits. Comparable to IFG Life and IFG's insurance subsidiaries as a major state-owned insurance/social protection entity serving Indonesia's workforce.
• Taspen: Indonesian state-owned pension insurance company providing social insurance to civil servants and BUMN employees. Directly comparable to IFG's state-owned insurance subsidiaries in mandate, governance structure, and target customer segments (government-affiliated workforce).
• Asuransi MSIG Indonesia: General insurance joint venture in Indonesia providing property, marine, motor, and engineering coverage. Comparable to IFG's general insurance operations across the same commercial general insurance product categories.
• AXA Indonesia: International insurer operating in Indonesia with life, health, and general insurance offerings. Comparable to IFG's multi-line insurance subsidiaries across both life and general insurance product categories.

Broad incumbents

• Bank Rakyat Indonesia (BRI): Indonesia's largest state-owned bank with the country's deepest UMKM microfinance franchise. Comparable to IFG's Jamkrindo credit guarantee operations in serving the UMKM segment, though BRI operates as a much larger diversified banking platform rather than a pure guarantee/insurance holding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/IFG_ID
• Facebookfacebook.com/indonesiafinancialgroup
• LinkedInlinkedin.com/company/indonesia-financial-group-ifg
• Instagraminstagram.com/ifg.holding

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indonesia Financial Group