PENGARUH RISK BASED CAPITAL (RBC), PENDAPATAN PREMI, DAN BEBAN KLAIM TERHADAP RETURN ON ASSETS (ROA) (Studi pada Perusahaan Asuransi Syariah yang Terdaftar di AASI periode 2020–2024)

Abstract

The sharia insurance industry has a strategic role in the economic system through the provision of risk protection for the community, where its operational success is highly dependent on financial performance as reflected through ROA. During the 2020–2024 period, Islamic insurers listed on AASI showed a sustained growth trend in premium income as well as RBC rates that exceeded regulatory requirements. However, these positive achievements are accompanied by a significant increase in claim burden every year, resulting in fluctuations and decreases in the ROA value at the end of the observation period. The formulation of the problem in this study is: 1) How does RBC affect ROA? 2) How does premium income affect ROA? 3) How does the claim burden affect the ROA? 4) Whether RBC, premium income, and claim expenses simultaneously affect the ROA of sharia insurance companies registered with AASI for the 2020–2024 period. The objectives of this study are: 1) To find out and analyze the influence of RBC on ROA. 2) To find out and analyze the influence of premium income on ROA. 3) To find out and analyze the effect of claim burden on ROA. 4) To know and analyze the effect of RBC, premium income, and claim expense simultaneously on ROA. This study uses a quantitative method with a type of causal associative research. The data used is secondary data in the form of financial statements of sharia insurance companies obtained from AASI. The analysis methods used were descriptive statistical analysis and panel data regression analysis, with hypothesis testing through t-test (partial), F test (simultaneous), and determination coefficient (R²). The results showed that RBC partially had no significant effect on ROA with a t-calculated value of t-table < (-0.287570 < 2.024394) and a probability of 0.7753 > 0.05. Premium income has a positive and significant effect on ROA with a t-calculated value of > t-table (2.308767 > 2.024394) and a probability of 0.0268 < 0.05. Meanwhile, the claim burden had no effect on the ROA with a t-calculated value of < t-table (0.170539 < 2.024394) and a probability of 0.8655 > 0.05. Simultaneously, RBC, premium income, and claims expense had a significant effect on ROA with f-calculated values > f-table (6.375144 > 2.866265) and a probability of 0.001407 < 0.05. The Adjusted R-squared value of 0.292523 indicates that the independent variable was able to explain the variation in ROA by 29.25%, while the remaining 70.75% was influenced by other variables outside the study.