Indonesia’s state-owned enterprises (SOEs) holding company, BP BUMN, and Danantara Indonesia are aiming to complete the consolidation of state-owned insurance companies under the Indonesia Financial Group (IFG) by 2026. This consolidation effort involves streamlining operations and improving efficiency within the sector. The move is intended to create a stronger and more competitive national insurance group. Details regarding the specifics of the consolidation process were not immediately available. Officials believe the completed consolidation will bolster IFG’s position in the Indonesian financial market. The target date of 2026 suggests a multi-year plan is underway to integrate the various insurance entities. This initiative reflects a broader strategy to strengthen state-owned assets and enhance their contribution to the national economy.