Determinants of Financial Stability of Islamic Insurance Companies Listed on Indonesia Financial Services Authority

Islamic insurance is an Islamic financial service that guarantees a participant's life, health, education, asset, and business. Some of them experienced a decline in their financial stability. This study aims to analyze the determinants of financial stability of Islamic insurance companies registered at the Indonesian Financial Services Authority (OJK) from 2014 to 2018. Thirty-eight data observations were acquired from eight full-fledged Islamic insurance businesses' financial reporting, analyzed using panel data regression. The dependent variable is financial stability, whilst investment, capital structure, insurance premiums, independent board of commissioners, sharia supervisory board, board of directors, and institutional ownership are the independent variables. The results show that financial stability is significantly affected by investment, insurance premiums, independent boards, and institutional ownership. The capital structure, sharia supervisory board, and board of directors do not affect the financial stability. Increasing the number of participant contributions and strategic investments should be a concern of Islamic insurance managers. The role of an independent board and Institutional owners supervisory could strengthen the financial stability of Islamic Insurance. Research on Financial stability is supporting the development of Islamic insurance companies.==================================================================================================== ABSTRAK – Determinan Stabilitas Keuangan Perusahaan Asuransi Syariah yang Terdaftar pada Otoritas Jasa Keuangan. Asuransi syariah adalah salah satu jasa keuangan Syariah untuk menjamin jiwa, kesehatan, pendidikan, aset dan bisnis. Beberapa perusahaan tersebut mengalami penurunan stabilitas keuangannya. Penelitian ini bertujuan untuk menganalisis determinan stabilitas keuangan perusahaan asuransi syariah yang terdaftar pada Otoritas Jasa Keuangan (OJK). Sebanyak 38 observasi diperoleh dari laporan keuangan 8 perusahaan asuransi syariah periode 2014-2018. Analisis dilakukan menggunakan regresi data panel. Variabel yang dipilih dalam penelitian ini adalah stabilitas keuangan sebagai variabel dependen, investasi, struktur modal, premi asuransi, dewan komisaris independen, dewan pengawas syariah, dewan direksi dan kepemilikan saham institusi. Hasil penelitian menunjukkan bahwa variabel investasi, premi asuransi, dewan komisaris independen dan kepemilikan saham institusi berpengaruh terhadap stabilitas keuangan perusahaan asuransi. Variabel struktur modal, dewan pengawas syariah dan dewan direksi tidak berpengaruh terhadap stabilitas keuangan. Peningkatan jumlah iuran peserta dan investasi strategis harus menjadi perhatian pengelola asuransi syariah. peran dewan independen dan pengawasan pemilik institusi dapat memperkuat stabilitas keuangan asuransi syariah. Penelitian stabilitas keuangan pada perusahaan asuransi memberikan dukungan terhadap pengembangan perusahaan asuransi syariah.

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Pengaruh Dewan Direksi, Dewan Komisaris Independen. Kepemilikan Manajerial, Kepemilikan Institusional, Dan Dewan Pengawas Syariah Terhadap No Performing Financing (Studi Kasus Pada Bank Umum Syariah Yang Terdaftar Di OJK Periode 2015-2019)

Ratio : Reviu Akuntansi Kontemporer Indonesia ◽

10.30595/ratio.v2i2.10378 ◽

2021 ◽

Vol 2 (2) ◽

Author(s):

Yugi Maheswari ES ◽

Iwan Fakhruddin ◽

Azmi Fitriati ◽

Bima Cinintya Pratama

Keyword(s):

Corporate Governance ◽

Board Of Directors ◽

Commercial Bank ◽

Financial Services ◽

Supervisory Board ◽

Secondary Data ◽

Institutional Ownership ◽

Managerial Ownership ◽

Good Corporate Governance ◽

The Board Of Directors

Tujuan penelitian ini untuk mengetahui pengaruh penerapan Good Corporate Governance (GCG) yang diproksikan oleh dewan direksi, dewan komisaris independen, kepemilikan manajerial, kepemilikan institusional, dan dewan pengawas syariah terhadap risiko pembayaran yang diukur dengan rasio Non Performing Financing (NPF) pada Bank Umum Syariah. Populasi penelitian adalah Bank Umum Syariah Yang Terdaftar di Otoritas Jasa Keuangan. Data yang digunakan adalah data sekunder berupa laporan tahunan Bank Umum Syariah periode 2015-2019. Sampel yang dikumpulkan adalah 14 bank syariah sebayak 70 data. Hasil penelitian menunjukkan bahwa dewan direksi berpengaruh negative erhadap NPF. Dewan komisaris independen, kepemilikan manajerial, kepemilikan institusional, dan dewan pengawas syariah tidak berpengaruh terhadap NPF. The purpose of this study is to determine the effect of the implementation of Good Corporate Governance (GCG) which is proxied by the board of directors, the board of independent commissioners, managerial ownership, institutional ownership, and the sharia supervisory board against payment risk as measured by the Non Performing Financing (NPF) ratio at the Bank Sharia General. The study population was a Sharia Commercial Bank Registered at Financial services Authority. The data used was secondary data in the form of reports annual Sharia Commercial Bank for the period 2015-2019. The samples collected were 14 Islamic banks as much as 70 data. The results showed that the board of directors has a negative effect on NPF. Independent board of commissioners, managerial ownership, institutional ownership, and sharia supervisory board have no effect on NPF.

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Determinants of Financial Performance in The Indonesian Islamic Insurance Industry

ETIKONOMI ◽

10.15408/etk.v16i1.4648 ◽

2017 ◽

Vol 16 (1) ◽

pp. 1-12

Author(s):

Iman Pirman Hidayat ◽

Irman Firmansyah

Keyword(s):

Regression Analysis ◽

Financial Performance ◽

Insurance Industry ◽

Supervisory Board ◽

Institutional Ownership ◽

Analysis Data ◽

Insurance Companies ◽

Managerial Ownership ◽

Islamic Insurance ◽

The Relationship

The purpose of this study is to determine the role of the board of directors as an operating executive, as the company's supervisory board of commissioners, the proportion of managerial ownership and institutional ownership as well as leverage on the financial performance of Islamic insurance industry. The method used is multiple regression analysis and Moderated Regression Analysis. Data of company successfully researched as many as 15 Islamic insurance companies in Indonesia with a study period of 2011 to 2015. The results showed that the board does not affect the financial performance of Takaful. Commissioners, managerial ownership, institutional ownership and leverage positive effect on the financial performance of Islamic insurance industry in Indonesia. The size of the company weakens the relationship between the number of directors and leverage to financial performance, and did not moderate the relationship between the number of commissioners, managerial ownership and institutional ownership of the financial performance of Islamic insurance industry..DOI: 10.15408/etk.v16i1.4648

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Good Corporate Governance, Profitabilitas, Ukuran Perusahaan dan Struktur Modal

Jurnal ULTIMA Accounting ◽

10.31937/akuntansi.v9i1.584 ◽

2017 ◽

Vol 9 (1) ◽

pp. 1-17

Author(s):

Hesty Juni Tambuati Subing

Keyword(s):

Capital Structure ◽

Board Of Directors ◽

Firm Size ◽

Stock Exchange ◽

Secondary Data ◽

Institutional Ownership ◽

Annual Reports ◽

Financial Reports ◽

Basic Industry ◽

The Capital Structure

The purpose of this research is to know about the effect of these factors Corporate Governane proxy by Institutional Ownership and Number of Board of Directors, Firm Size, and Return On Asset in basic industry and chemistry towards capital structure, and also to determine which of those factors having powerful effect to the capital structure. This research is using secondary data, such as the financial reports, annual reports and other related information of basic industry and chemistry listed in Indonesian Stock Exchange which sample were taken from 45 companies for the period of 2013 to 2014, and the choosing of these samples was based on the purposive sampling method. Panel data is used to test the effect of Institutional Ownership, Board of Directors, Return on Asset and Firm Size among as independent variables, in regard to capital structure as dependent variables. The result shows that only Return On Asset have significant effect to the Capital Structure in the basic industry and chemistry. Meanwhile Institutional Ownership, Board of Directors and Firm Size have no effect to the Capital Structure in the basic industry and chemistry. Keywords: Institutional Ownership, Board of Directors, Return On Asset, Firm Size, Capital Structure

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Actual Problems of Recording in Accounting and Financial Reporting of Insurance Companies of the Amounts of Refunds of Insurance Premiums

Auditor ◽

10.12737/20655 ◽

2016 ◽

Vol 2 (7) ◽

pp. 31-36

Author(s):

Пальгуева ◽

T. Palgueva

Keyword(s):

Financial Reporting ◽

Financial Statements ◽

Insurance Companies ◽

Data Manipulation ◽

Insurance Premiums ◽

Reporting Data

The paper deals with the recording in the accounting and fi nancial reporting of insurance companies of amount of the refund of premiums in the context of ongoing changes in the Russian legislation. Th e author’s approach to the order of their recording in the financial statements in order to improve its quality and prevent potential reporting data manipulation is off ered.

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ANALISIS ELEMEN-ELEMEN FRAUD PENTAGON SEBAGAI DETERMINAN FRAUDULENT FINANCIAL REPORTING

KEBERLANJUTAN ◽

10.32493/keberlanjutan.v3i2.y2018.p950-969 ◽

2018 ◽

Vol 3 (2) ◽

pp. 950

Author(s):

Khusnatul Zulfa ◽

Amira Bayagub

Keyword(s):

Real Estate ◽

Financial Reporting ◽

Financial Stability ◽

Linear Regression Analysis ◽

Institutional Ownership ◽

External Pressure ◽

Fraudulent Financial Reporting ◽

Auditor Change ◽

External Auditor

AbstractThis study aims to examine the influence of externalxpressure, institutionalownership, xfinancial stability, xquality of external auditor, xchange inxauditor, change in director and frequentxnumber of CEO’s picture on the fraudulent financial reporting among the property and real estate firms listed in Indonesia stock exchange during 2014-2016. The data used in this study is secondary data obtained from the firms’ annual report which was accessed through www.idx.co.id. The data analysis method used in this study is multiple linear regression analysis. SPSS ver 2.0 was used to analyze the data. The samples were selected using a non-probability sampling technique with a purposive sampling method and obtained a sample of 41 property and real estate companies during 2014-2016. The results of variable test indicates that external pressure and change in director partially influences fraudulent financial reporting, while institutional ownership, financial stability, quality of external auditor, change in auditor, and frequent number of CEO’s picture partially does not influence fraudulent financial reporting. The Simultaneous test shows that external pressure, institutional ownership, financial stability, quality of external auditor, change in auditor, change in director and frequent number of CEO’s picture Keywords: External Pressure, Institutional Ownership, Financial Stability, Quality of External Auditor, Change in Auditor, Change in Director, Frequent Number of CEO’s Picture, Fraudulent Financial Reporting.

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THE IMPACT OF THE INDUSTRIAL REVOLUTION 4.0 ON THE INSURANCE INDUSTRY AND WHETHER OF THE ASSETS AND INVESTMENTS PLAY A ROLE TO INVESTMENT YIELD?

Humanities & Social Sciences Reviews ◽

10.18510/hssr.2020.8239 ◽

2020 ◽

Vol 8 (2) ◽

pp. 345-351

Author(s):

Iskandar Muda ◽

Hafizah ◽

Bunga Aditi ◽

Hermansyur ◽

Erlina

Keyword(s):

Financial Services ◽

Financial Stability ◽

Industrial Revolution ◽

Insurance Industry ◽

Least Square Method ◽

Partial Least Square ◽

Least Square ◽

Insurance Companies ◽

Insurance Company ◽

The Impact

Purpose of the study: This research aims to know the influence of the Industrial Revolution 4.0 era on the insurance industry on the side of assets and Investment insurance companies to Investment Yield Sharia Insurance in Indonesia. Methodology: This type of research is explanatory research. This type of research data is secondary data sourced from the Financial Services Authority (OJK) Republic of Indonesia period in 2016-2107. The tool of analysis in this research is the Partial Least Square method using Smart PLS statistics. Main Findings: The results are an influence of Assets and Investment on Investment Yield on insurance companies in the Industrial Revolution 4.0 era. In the era of the industrial revolution, 4.0 potential insurance improve economic growth through several aspects, namely promote financial stability. Facilitate trade and commercial activities. mobilize domestic savings. Offering a variety of risk management on capital. Increase more efficient allocation of capital and reduce the risk of loss and can increase Investment Yield for shareholders and stakeholders. Applications of this study: This research is the observation only on Sharia Insurance Company sample while other issuers are not observed in this study and this research implies that sharia insurance issuers are growing and contributing to their shareholders and shareholder. Novelty/Originality of this study: The first time observing the Sharia Insurance industry industrial Revolution 4.0 era and previous research to observe in Sharia banking.

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Improving state regulation of the insurance services market

Public administration and local government ◽

10.33287/102025 ◽

2020 ◽

Vol 45 (2) ◽

pp. 99-107

Author(s):

Olha Klymenko

Keyword(s):

Financial Market ◽

Financial Services ◽

State Regulation ◽

The State ◽

Insurance Market ◽

Insurance Companies ◽

Regulation System ◽

Positive Trend ◽

The European Union ◽

Insurance Premiums

An urgent task in the field of public administration of non-banking financial services markets is to improve the regulation of the insurance market. On the example of the insurance services market, the problems of the functioning of the financial market regulation system are highlighted. Suggestions for its improvement are presented to increase the competitiveness of these markets. The development of the Ukrainian insurance market after 2015 to the present has a positive trend, which indicates the effectiveness and managerial ability of the state regulation system. The indicators of the state of the insurance market of Ukraine in comparison with similar indicators of such markets in the countries of the European Union are considered. The dynamics of concentration of the insurance market of Ukraine over the past 15 years has been analyzed. The main trends in the development of competition in this financial sphere have been identified. The necessity of state regulation of the concentration of the insurance market is substantiated. Views on the methodology and tools used in the study of the concentration and competitiveness of the insurance market are presented. Suggestions for improving the methods are given. It is shown that from 2012 to 2019 the Herfindahl - Hirschman index for risky types of insurance and for the insurance market as a whole has been increasing. It is established that according to the gradation of financial market concentration levels using the Herfindahl - Hirschman index, the insurance market of Ukraine corresponds to the degree of low concentration. According to the value of the Herfindahl - Hirschman indicator, the concentration of the life insurance market during 2003 – 2019, with the exception of 2015, is moderate. But the total share of gross insurance premiums collected by the three largest insurance companies in 2017 – 2019 exceeded 50 % of all gross insurance premiums. According to the Ukrainian law, such a market is considered a monopoly. It is shown that when analyzing the state and development of the insurance market of Ukraine, it is advisable to supplement the values of the Herfindahl - Hirschman index with corrective coefficients that take into account regional characteristics of the market, types of insurance, additional indicators of its functioning efficiency. Measures are proposed to accelerate the development of the insurance market of Ukraine by improving its regulation system.

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DETERMINAN SOLVABILITAS DANA TABARRU’ PADA PERUSAHAAN ASURANSI SYARIAH DI INDONESIA

El Dinar ◽

10.18860/ed.v8i1.8033 ◽

2020 ◽

Vol 8 (1) ◽

pp. 52

Author(s):

Iis Indah Lestari ◽

Hasan Mukhibad

Keyword(s):

Financial Services ◽

Insurance Companies ◽

Sampling Techniques ◽

Panel Regression ◽

Insurance Company ◽

Variable Size ◽

Units Of Analysis ◽

Size Type ◽

Islamic Insurance ◽

Descriptive Statistical Analysis

AbstractSolvency of tabarru’ funds can indicate a company's ability to pay obligations Islamic insurance claims payments to the participants or policyholders. Related to this, the Financial Services Authority has set a minimum limit of solvency margin tabarru’ funds which amounted to 30% which must be fulfilled by Islamic insurance companies. However, there are three Islamic insurance companies that have a solvency tabarru’ funds under the terms of at least 30%, such as PT Asuransi Astra Buana, Takaful Protection Jaya and PT Tugu Pratama Indonesia. The purpose of this study was to determine the effect of firm size, type of company, Retakaful premiums, investment, wealth available to qardh, and operating expenses to fund solvency tabarru on Islamic insurance company in Indonesia. The population in this study was Islamic insurance company over registered at the Financial Services Authority (OJK) in the year 2013-2018. By using purposive sampling techniques, sample end of the study amounted to 14 mining companies with 84 units of analysis. Meanwhile, the analysis used descriptive statistical analysis and panel regression analysis with Eviews 9. The results showed that the return on investment and wealth available to qardh positive and significant impact on the solvency of tabarru’ fund. Variable size of company, type of company, Retakaful premiums, and operating expenses partially have no effect on the solvency of the tabarru’ fund.

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Corporate governance in the financial services sector of small island economies: A case study of Mauritius

Corporate Ownership and Control ◽

10.22495/cocv4i3c2p4 ◽

2007 ◽

Vol 4 (3) ◽

pp. 266-278 ◽

Cited By ~ 1

Author(s):

Pran Krishansing Boolaky

Keyword(s):

Corporate Governance ◽

Financial Reporting ◽

Financial Services ◽

Good Governance ◽

Financial Sector ◽

Insurance Companies ◽

Small Island ◽

Services Sector ◽

Financial Services Sector ◽

Corporate Governance Code

This study investigates the practices of corporate governance in the financial services sector of small island economies with special reference to banks and insurance companies in Mauritius with a view to assess the level of compliance. The financial sector is today an important economic pillar on which the government is relying given the imminent recession in the sugar industry. In this respect financial institutions play a key role because they are the core set of the financial sector. It is therefore important for people to have confidence in both banks and insurance companies of their country. This is possible by ensuring compliance with good governance. In Mauritius, the Central Bank has issued its guidelines on good corporate governance for banks and this guide is made in line with the Corporate Governance Code issued by the National Committee on Corporate Governance. Banks are also required to comply with the codes as per the Banking Act 2004 and the Financial Reporting Act 2004. In a similar vein insurance companies should comply with the National Code on Corporate Governance and relevant laws related to good governance of insurance business, such as the Insurance Act 2005, the Financial Services Commission guidelines on Corporate Governance and the Financial Services Development Act 2002. In addition insurance companies should also comply with the Companies Act 2001 and the Financial Reporting Act 2004. This paper initially reports on the practice of corporate governance in the financial services sector of small island economies by drawing data from the Financial Sector Assessment Programme of the International Monetary Fund. A content analysis of the annual reports of companies in the sector is used to assess the level of compliance to corporate governance code in Mauritius and concludes that compliance rate is above 70% as regards board’s composition, audit committee, disclosure of policies and practices. This study reports that there are few cases of noncompliance with the National Code but good governance is necessary in the financial services sector to inspire stakeholders confidence.

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PENGARUH UKURAN DEWAN KOMISARIS DAN UKURAN DEWAN DIREKSI TERHARAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN INSTITUSIONAL SEBAGAI VARIABEL MODERASI

Equity ◽

10.34209/.v21i2.641 ◽

2019 ◽

Vol 21 (2) ◽

pp. 152

Author(s):

Claudia Adelina Thendean ◽

Iren Meita

Keyword(s):

Corporate Governance ◽

Board Of Directors ◽

Stock Exchange ◽

Institutional Ownership ◽

Insurance Companies ◽

Corporate Value ◽

Good Corporate Governance ◽

The Board Of Directors

This study aims to determine the effect of Good Corporate Governance on Corporate Value with Intitusional Ownership as a moderating variable. In this study, Good Corporate Governance is measured by 2 variables, namely the size of the board of commissioners and the size of the boardof directors. The Company's value is measured by Earning Per Share. The sample of this research is 9 insurance companies listed on Indonesia Stock Exchange period 2011- 2015 period. The results of this study are the size of the board of commissioners and the size of the board ofdirectors does not affect the value of the company; The size of the board of commissioners and the size of the board of directors simultaneously has no effect on the value of the company; Institutional ownership may moderate the size of the board of commissioners to the value of thecompany; And institutional ownership can moderate the size of the board of directors against corporate value.

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