The Influence of Investment Returns and Tabarru Fund Contributions on The Asset Growth of Registered Sharia Life Insurance Companies in Ojk in The Period 2019-2022

Abstract

This study investigates the impact of investment returns and tabarru fund contributions on the growth of Islamic life insurance assets from 2019 to 2022, as registered with the Financial Services Authority (OJK). Conducted between May 31 and June 30, 2023, it adopts a descriptive quantitative approach. Data sourced from financial statements of Islamic life insurance firms registered with the OJK during the specified period. Using a saturated sample of monthly financial reports, totaling 48, data collection involved observation and documentation. Analysis employed multiple linear regression via IBM SPSS 20.Results indicate that investment returns positively and significantly influence Islamic life insurance asset growth. However, tabarru fund contributions, while positive, show insignificance. Simultaneously, both factors collectively exhibit a positive and significant impact. It's concluded that investment returns wield a more substantial influence on asset growth compared to tabarru fund contributions. Thus, Islamic life insurance companies should prioritize producing robust financial reports and optimizing tabarru fund management for sustained operation.Implications suggest that by enhancing investment returns, issuing stable financial reports, and optimizing tabarru fund management, these companies can attract customers, investors, and bolster assets. This underscores the importance of strategic financial management in ensuring the viability and growth of Islamic life insurance firms.