MAIPARK

What MAIPARK does

PT Reasuransi MAIPARK Indonesia (MAIPARK) is Indonesia's designated earthquake and natural catastrophe reinsurance pool, serving all 82 licensed general insurance and reinsurance companies operating in the country under a mandatory participation framework established by OJK (Otoritas Jasa Keuangan) via SE-6047/LK/2003. Originally launched in 2003 as the Pool Reasuransi Gempa Bumi Indonesia (PRGBI), the entity was converted to a private company on January 1, 2004, with each member insurer required to hold 0.5% of invested funds as shareholders. The company addresses Indonesia's acute seismic exposure—sitting at the intersection of three major tectonic plates—by pooling earthquake, volcanic eruption, and tsunami risk that individual insurers cannot adequately retain following late-1980s deregulation that drove catastrophe premium rates to inadequate levels.

MAIPARK's core product is the Standar Indonesia Earthquake Policy (SIEP), which provides standardized coverage for earthquakes, fire/explosion caused by earthquakes, volcanic eruptions, and tsunamis across five seismic risk zones covering all Indonesian districts, with premium rates set by the Indonesia Earthquake Insurance Tariff 2017 (SEOJK No. 6/SEOJK.05/2017). Supporting the underwriting function is a proprietary technology stack that includes SENA (Catastrophe Portfolio Management), IMPACT (rapid earthquake impact assessment), and the WASPADA bulletin, supplemented by internal geoscience research covering seismic gap analysis, megathrust tsunami modeling, flood risk (including parametric rainfall insurance), and volcanic eruption risk. MAIPARK also publishes statistical reports on Indonesian earthquake insurance penetration and claims, and sources real-time seismic feeds from BMKG.

The business operates on a captive B2B reinsurance model in which Indonesian insurance companies cede earthquake exposures to MAIPARK in exchange for reinsurance premiums, with pricing regulated by OJK. The company maintains a Fitch Ratings national scale rating of 'A+(idn)' with Stable Outlook and is licensed and supervised by OJK. In addition to its reinsurance function, MAIPARK runs a research and disaster risk awareness function, publishing climate, seismic, and parametric insurance research and engaging with international forums such as the 21st Asia Nat CAT and Climate Change Conference, AON, Geoscience Australia, and BRIN.

Name

MAIPARK

Legal name

PT Reasuransi MAIPARK Indonesia

Website

https://maipark.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

MAIPARK is Indonesia's mandated earthquake and natural catastrophe reinsurance pool, serving all 82 licensed Indonesian general insurers under OJK supervision. It administers standardized earthquake coverage, proprietary catastrophe risk modeling (SENA, IMPACT), and seismic research for the domestic market.

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Earthquake and Natural Disaster Reinsurance Premiums: MAIPARK generates revenue by providing reinsurance coverage to Indonesian insurance companies for earthquake, volcanic eruption, tsunami, and related natural catastrophe risks. Insurance companies transfer catastrophe risk to MAIPARK in exchange for reinsurance premiums. The company operates within the regulatory framework requiring all Indonesian insurers to participate in the earthquake insurance pool.
2. Standard Earthquake Insurance Policy (SIEP) Administration: MAIPARK administers the Indonesia Standard Earthquake Insurance Policy (SIEP) under Otoritas Jasa Keuangan regulation, covering earthquakes, fire/explosion caused by earthquakes, volcanic eruptions, and tsunami. The company manages premium pricing and coverage terms per government-set tariff standards.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

MAIPARK operates as the designated national earthquake reinsurance pool for Indonesia, providing reinsurance coverage to all licensed Indonesian general insurance and reinsurance companies for earthquake, volcanic eruption, tsunami, and related natural catastrophe risks. Under OJK regulation, every licensed insurer in Indonesia must be a shareholder and cede catastrophe risk to MAIPARK under standardized SIEP policies and zone-based tariffs. The company also performs earthquake impact analysis, seismic risk research, and climate risk modeling to support the Indonesian insurance market.

Product overview

MAIPARK operates as a reinsurance company offering a unified product portfolio centered on natural disaster risk coverage, particularly earthquake insurance. The core offerings include Asuransi dan Reasuransi (Insurance and Reinsurance), the SIEP (Standar Indonesia Earthquake Policy), and the Tarif Asuransi Gempa Bumi (Earthquake Insurance Tariff) system based on SEOJK.05/2017 regulations. Supporting products include Laporan Statistik (Statistical Reports), IMPACT (earthquake impact analysis), and WASPADA (early warning bulletins). The company also provides internal tools SENA for catastrophe portfolio management and MCS for customer service. The product architecture functions as a comprehensive disaster risk management ecosystem serving Indonesia's insurance industry.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 82 insurance company shareholders covering the entire Indonesian market as of 2026
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• China State Engineering Corporation (CSEC)minorStrategic or Co-development Partner · 18 July 2026MAIPARK participated in the Forum Manajemen Risiko Wilayah Indonesia China State Engineering Corporation 2026, a risk management forum focused on Indonesia-China cooperation. This event supports MAIPARK's engagement with international engineering and risk management networks.
• Badan Riset dan Inovasi Nasional (BRIN) / Geoscience AustraliaminorStrategic or Co-development Partner · 8 June 2026MAIPARK co-hosted a workshop with Geoscience Australia and Indonesia's National Research and Innovation Agency (BRIN), focusing on geoscience research collaboration and disaster risk knowledge sharing.
• AONminorStrategic or Co-development Partner · 22 May 2026AON, a leading global professional services firm, collaborated with MAIPARK to deliver Quantitative Reinsurance Training, enhancing technical skills of insurance professionals in the Indonesian market.
• Otoritas Jasa Keuangan (OJK)coreOthersMAIPARK is licensed and supervised by OJK, the Indonesian Financial Services Authority. All company operations, including the earthquake insurance tariff (SEOJK No. 6/SEOJK.05/2017) and mandatory shareholder requirements, are regulated by OJK.
• BMKG (Badan Meteorologi, Klimatologi, dan Geofisika Indonesia)minorStrategic or Co-development PartnerMAIPARK sources real-time earthquake data from BMKG, Indonesia's meteorology, climatology, and geophysics agency, to power its earthquake monitoring information on the company website, providing the latest seismic events with magnitude, location, and Richter scale readings.
• Lembaga Alternatif Penyelesaian Sengketa Sektor Jasa Keuangan (LAPS-SJK)minorOthersMAIPARK is affiliated with LAPS-SJK, the Alternative Dispute Resolution Institution for the Financial Services Sector, providing policyholders with a channel for resolving disputes related to insurance services.
• Fitch RatingscoreOthersFitch Ratings provides MAIPARK with an independent national scale financial strength rating of 'A+(idn)' with Stable Outlook, which is publicly disclosed on the company website and used to build trust with policyholders and reinsurance counterparties.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• Swiss Re: One of the world's largest reinsurers, writing significant Indonesian and Southeast Asian catastrophe risk through treaty arrangements with local cedants. Competes with MAIPARK for earthquake/nat cat premium and shares the same retrocession markets.
• Munich Re: Global reinsurance leader with deep catastrophe and earthquake portfolios across Asia-Pacific. Overlaps with MAIPARK on Indonesian treaty placements and is also a retrocession counterparty for the Indonesian pool.
• Hannover Re: Major global reinsurer active in Asia-Pacific property catastrophe, with treaty relationships involving Indonesian insurers. Provides comparable nat cat capacity and competes for premium on the same underlying risks MAIPARK pools.
• SCOR SE: Global reinsurer with substantial Asia-Pacific property and catastrophe exposure, including Indonesian earthquake treaty business. Comparable in product scope and retrocession relationships with MAIPARK.

Direct peers

• Natural Hazards Insurance Pool (NZ): New Zealand's government-backed natural hazard insurance entity for residential properties. Operates as a national catastrophe insurance scheme analogous to MAIPARK's SIEP framework.
• California Earthquake Authority (CEA): California's publicly managed catastrophe insurance pool offering standardized residential earthquake coverage. Comparable to MAIPARK as a state-mandated catastrophe insurance mechanism with actuarial pricing and reinsurance backing.
• DASK (Doğal Afet Sigortaları Kurumu): Turkey's compulsory earthquake insurance pool, mandated by law for all residential property owners. Operates the same captive-pool business model as MAIPARK, providing standardized earthquake cover backed by reinsurance, and is the most structurally comparable peer globally.

Regional players

• Toa Reinsurance Company: Japan-headquartered Asian reinsurer with long-standing presence in Southeast Asian catastrophe markets. Comparable as a regional player underwriting Japanese and ASEAN earthquake and property cat risk.
• Korean Re: Leading Asian reinsurer headquartered in South Korea, active in Southeast Asian treaty markets including Indonesia. Comparable regional competitor pursuing similar nat cat and treaty business across Asian cedants.
• Asia Reinsurance Brokers / ASEAN Re: ASEAN-focused reinsurance vehicle operating across Southeast Asia. Comparable regional reinsurance presence pursuing cross-border treaty business overlapping with MAIPARK's Indonesian cedants.

Market position

Strengths4 records

Weaknesses2 records

Competitive moat5 records

Customer concentration

• Xinstagram.com/reasuransi_maipark_indonesia
• YouTubeyoutube.com/@maiparkindonesia247
• LinkedInlinkedin.com/company/pt-asuransi-maipark-indonesia
• Facebookfacebook.com/Reasuransi.MAIPARK

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 MAIPARK