COMPARISON ANALYSIS OF RISK-BASED CAPITAL (RBC) PERFORMANCE AND ITS EFFECT ON ISLAMIC INSURANCE PROFITABILITY IN INDONESIA AND MALAYSIA
DOI:
https://doi.org/10.26740/al-uqud.v3n2.p149-160Keywords:
RBC, Financial Ratio, Islamic Insurance, Indonesia, MalaysiaAbstract
The minimum value of risk-based capital of Islamic insurance is 30% in Indonesia, while Malaysia is 130%. RBC is one of indicator to measure people interest in Islamic insurance products. This paper aims to compare the risk-based capital (RBC) of Islamic insurance companies in Indonesia and Malaysia and analyze its financial ratios. This study used quantitative approach through two analysis techniques, the Mann-Whitney test and multiple linear regression. The results of this study showed that there is difference in risk between capital (RBC) of Indonesian and Malaysian Islamic insurance. Further, RBC, liquidity and investment balance ratios have a significant impact to the profitability of Islamic Insurance in Indonesia, while investment returns have no significant impact. In the other hand, RBC, liquidity, investment balance ratio, and investment returns have significant impact to the profitability of Islamic Insurace in Malaysia.
References
Akpan, S.S.,Mahat, F., et all. 2017. Contrasting the Effect of Risk- and Non Risk-Based Capital Structure on Insurers Performance in Nigeria, MDPI Social Sciences, Volume 6, Nomor 143, Pp 1-17
Anggi, F.,Dorkas R.A. 2009. Tinjauan Empiris Terhadap Kinerja Industri Asuransi Yang Go Public Di Bursa Efek Indonesia Periode 2004-2008, JurnalEkonomi Dan Bisnis Vol. XV, No. 2, Pp. 103-119.
Dewan Syariah Nasional MUI, Himpunan Fatwa Dewan Syariah Nasional MUI, EdisiRevisi 2006, No 21/DSN-MUI/X/2001, Tentang Pedoman Umum Asuransi Syariah
Ismail, M. 2013. Determinants Of Financial Performance: The Case Of General Takaful And Insurance Companies In Malaysia. International Review Of Business Research Papers, Volume 9, Nomor 6, Pp. 111-130.
Keputusan Menteri Keuangan No. 424/KMK.06/2003. Tentang Kesehatan Keuangan Perusahaan Asuransi dan Perusahaan Reasuransi.
Kirmizi, & Agus, S. S.2011. Pengaruh Pertumbuhan Modal dan Aset Terhadap Rasio Risk Based Capital (RBC), Pertumbuhan Premi Neto dan Profitabilitas Perusahaan Asuransi Umum di Indonesia. Pekbis Jurnal, Volume 3, Nomor 1, Pp. 391405.
Nurfadila,S., Hidayat, R.R, dkk. 2015. Analisis Rasio Keuangan dan Risk Based Capital untuk Menilai Kinerja Keuangan Perusahaan Asuransi(Studi pada PT. Asei Reasuransi Indonesia (Persero) Periode 2011-2013). Jurnal Administrasi Bisnis (JAB), Vol. 22 No. 1, Pp 1-9.
Novi, P. 2011. Analisis Keuangan Dinamis pada Manajemen Keuangan Bisnis Asuransi Umum Syariah, Jurnal Manajemen Teknologi, Volume 10 Nomor 2, Pp. 127-144
Prakoso, D.L, Siswantoro, D. 2014. Dampak Penerapan PMK Nomor 11/PMK.010/2011 Tentang Kesehatan Keuangan Usaha Asuransi Dan Usaha Reasuransi Dengan Prinsip Syariah Terhadap Tingkat Solvabilitas Asuransi Syariah. Tesis: Universitas Indonesia.
Ramdhani, Herry. 2015. Prospek dan Tantangan Perkembangan Asuransi Syariah di Indonesia. Al-Tijary, Vol. 01, No. 01.
Robbi, Muhammad Nashrun Min, dkk. 2016. PenerapanMetodeRisk Based Capital Pada Perusahaan Asuransi Jiwa (Studi Kasus Perusahaan Asuransi Jiwa Bumi Asih Jaya Yang Telah Dipailitkan Oleh MA), Jurnal Hukum Diponegoro, Volume 5, Nomor 4.
Safitri, E.K., Suprayogi, N.2017. Analisis Rasio Kesehatan Keuangan Dana Tabarru yang Mempengaruh Profitabilitas pada Asuransi Syariah di Indonesia (Periode 2012-2014). Jurnal Ekonomi Syariah Teori dan Terapan, Vol. 4 No. 1 Pp: 73-88.
Sastri, I.P.,, Sujana, E.,dkk. 2017. Pengaruh Pendapatan Premi, Hasil Underwriting, Hasil Investasi dan Risk Based Capital terhadapLaba Perusahaan Asuransi(Studi Empiris pada Perusahan Asuransi yang Terdaftar di Bursa EfekIndonesia periode 2011-2015). e-Journal S1 Akuntansi Universitas Pendidikan Ganesha, Volume 7 Nomor 1.
Yusofa, A.Y, Laub, W.Y, dst. 2015. Risk-Based Capital Framework: Conventional vs. Takaful Operators, Journal of Management Research ISSN 1941-899X, Vol. 7, No. 2.
_______________. 2016. A Critical Analysis of the Malaysian Risk-Based Capital Framework: A Comparison between General Insurance and Takaful. Institutions and Economies Vol. 8, No. 4, pp. 23-41.
Downloads
Published
How to Cite
Issue
Section
License
CC BY 4.0
Abstract views: 2249
,
PDF Downloads: 1161
