ANALISIS KINERJA KEUANGAN PERUSAHAAN ASURANSI JIWA SYARIAH DAN KONVENSIONAL BERDASARKAN RISK BASED CAPITAL (RBC) DAN EARLY WARNING SYSTEM (EWS)

This research is important, because the rapid development of the insurance industry causes intense competition between both sharia and conventional insurance companies. The insurance company must manage and optimize its financial performance appropriately so that it can meet the criteria as a healthy insurance company so as to attract customers. This study aims to analyze whether there are differences in financial performance of sharia life insurance companies and conventional life insurance based on Risk Based Capital (RBC) and Early Warning System (EWS). Sample in this research is done by purposive sampling and obtained by sample of 13 life insurance company having conventional unit and sharia unit registered in Financial Services Authority (OJK) and has published its financial report with complete period 2015 - 2016. Variable studied in this research is Risk Based Capital (RBC) and Ratio in Early Warning System (EWS) represented by solvency margin ratio, claim load ratio, liquidity ratio and own retention ratio. Comparison of financial performance of sharia life insurance company and conventional life insurance company during period 2015-2016 conducted using Mann-Whiteney U test and obtained result that there is significant difference between financial performance seen from Risk Based Capital (RBC), solvency margin ratio and own retention ratio. Where Risk Based Capital (RBC), solvency margin ratio sharia life insurance companies better than conventional life insurance companies, while own retention ratio of conventional life insurance companies better than sharia life insurance companies. And from the ratio of claims expense and liquidity ratio there is no significant difference.