THE EFFECT OF PREMIUM GROWTH, LEVERAGE, AND RISK-BASED CAPITAL ON THE PROFITABILITY OF INSURANCE COMPANIES

Abstract

Abstract : This study aims to determine the effect of the Premium Growth, Leverage, and Risk-Based Capital variables on the profitability of insurance companies listed on the Indonesia Stock Exchange for 2013 - 2018. This research is causal-comparative research that uses a quantitative approach. This study uses secondary data obtained from the Indonesia Stock Exchange and the company's official website. This study's population is the insurance companies listed on the Indonesia Stock Exchange for the period 2013-2018, namely 16 companies. Samples were taken using the purposive sampling technique so that a sample of 14 companies was obtained. The analysis technique used is the multiple linear regression test. This study's results are: (1) Premium growth has a positive effect on the profitability of conventional insurance companies, (2) Premium growth does not have a positive effect on the profitability of Islamic insurance companies, (3) Leverage does not have a positive effect on conventional insurance companies' profitability, (4) Leverage does not have a positive effect on the profitability of Islamic insurance companies, (5) Risk-Based Capital does not have a negative effect the profitability of conventional insurance companies, (6) Risk-Based Capital does not have a negative effect the profitability of Islamic insurance companies.

Keywords : Premium Growth, Leverage, Risk-Based Capital, Profitability

Abstrak : Penelitian ini bertujuan untuk mengetahui pengaruh variabel Pertumbuhan Premi, Leverage, dan Risk-Based Capital terhadap profitabilitas perusahaan asuransi yang terdaftar di Bursa Efek Indonesia periode 2013 – 2018. Penelitian ini merupakan penelitian kausal komparatif yang menggunakan pendekatan kuantitatif. Penelitian ini menggunakan data sekunder yang didapatkan dari Bursa Efek Indonesia dan website resmi perusahaan. Populasi penelitian ini adalah perusahaan asuransi yang terdaftar di Bursa Efek Indonesia periode 2013 – 2018 yaitu sejumlah 16 perusahaan. Sampel diambil dengan menggunakan teknik purposive sampling sehingga didapatkan sampel sebanyak 14 perusahaan. Teknik analisis yang digunakan adalah uji regresi linier berganda. Hasil dari penelitian ini yaitu : (1) Pertumbuhan premi berpengaruh positif terhadap profitabilitas perusahaan asuransi konvensional, (2) Pertumbuhan premi tidak berpengaruh positif terhadap profitabilitas perusahaan asuransi syariah, (3) Leverage tidak berpengaruh positif terhadap profitabilitas perusahaan asuransi konvensional, (4) Leverage tidak berpengaruh positif terhadap profitabilitas perusahaan asuransi Syariah, (5) Risk Based Capital tidak berpengaruh negatif terhadap profitabilitas perusahaan asuransi konvensional, (6) Risk Based Capital tidak berpengaruh negatif terhadap profitabilitas perusahaan asuransi syariah.

Kata Kunci: Pertumbuhan premi, Leverage, Risk Based Capital, profitabilitas