CEO Replacement at Indonesia Re Awaits Shareholder Approval

Flooring Guide by Cinvex

JAKARTA — PT Reasuransi Indonesia Utama (Indonesia Re) is currently awaiting a pivotal decision from its primary shareholder, the Sovereign Wealth Fund (SWF) Daya Anagata Nusantara (SWF Danantara), concerning the succession of its Chief Executive Officer (CEO).

Delil Khairat, Indonesia Re’s Technical Director, clarified that this leadership transition could entail either the appointment of an acting CEO (Plt) or a new, definitive official. “We are awaiting the decision from Danantara shareholders regarding the replacement of the CEO or the appointment of an acting CEO. Hopefully, we will know the results shortly,” Delil stated when contacted on Monday, December 1, 2025.

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The void in Indonesia Re’s top leadership became apparent following an update on the LinkedIn profile of former CEO Benny Waworuntu. In his post, Benny announced the conclusion of his tenure, which spanned 4 years and 10 months at Indonesia Re. He reflected on his journey as CEO, noting that it provided him with a wealth of crucial professional and personal lessons and experiences.

In a heartfelt farewell message, Benny extended his sincere gratitude to the shareholders, specifically mentioning the Ministry of State-Owned Enterprises (BUMN) and Danantara. He also acknowledged the invaluable contributions of the Board of Commissioners, Directors, employees, and all stakeholders. He emphasized that the robust support and collaborative spirit fostered during his time were fundamental to the company’s dynamic progress.

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Indonesia Re’s Business Direction for 2026

Looking ahead to 2026, Delil outlined Indonesia Re’s strategic focus, stating that the company aims to enhance the quality of its risk portfolio. This objective is set against the backdrop of a global reinsurance market that continues to experience a “soft market” phase.

Delil elaborated that the core strategy involves implementing more selective risk segmentation and fostering targeted partnerships. “In 2026, Indonesia Re is committed to continuing its efforts to improve the quality of its risk portfolio, despite the heightened challenges posed by the prevailing soft market conditions in the reinsurance sector,” Delil affirmed.

A soft market within the reinsurance industry is characterized by an increased capacity for risk underwriting, intensifying competition among reinsurance firms. This environment typically leads to a reduction in premium prices, more flexible terms and conditions for coverage, and a greater availability of reinsurance capacity, even for more intricate risks.

For primary insurance companies, a soft market presents an advantage through lower costs for risk protection. Conversely, for reinsurance companies, this climate exerts pressure on profit margins, necessitating more stringent risk selection, enhanced operational efficiency, and robust risk management. The soft market is an inherent part of the broader market cycle, which can, at certain junctures, transition into a “hard market” where capacity contracts and premiums inevitably rise.

To navigate the prevailing soft market conditions, Delil highlighted that strengthening data capabilities is paramount for ensuring more precise risk assessment. Simultaneously, digitalization is envisioned as a key enabler for reducing operational expenses and accelerating critical business processes.

“This strategic approach is executed through sharper risk and partner segmentation, fortified by enhanced data management capabilities and increased operational efficiency driven by digitalization,” he concluded.

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