ANALISIS POTENSI KEBANGKRUTAN PERUSAHAAN DENGAN METODE ALTMAN Z-SCORE

This study aims to predict bankruptcy in Islamic Life Insurance companies in Indonesia using the Altman Z-Score method in 2015 to 2019. This research is a descriptive quantitative research. Samples were taken by purposive sampling method. The data source used is in the form of secondary data on the annual financial statements of Islamic life insurance which are obtained from the respective official website of the company. The analysis model used is the modified Altman Z-Score analysis. Where the variables are in the form of financial ratios based on the financial ratio Altman Z-Score. These financial ratios are Working Capital to Total Assets (WCTA), Retained Earning to Total Assets (RETA), Earning Before Interest and Taxes to Total Assets (EBITTA), dan Book Value of Equity to Book Value of Debt (BVEBVD). Based on the results of research analysis using the Altman Z-Score method in sharia unit life insurance companies for the period 2015 to 2019, it can be concluded that out of 15 companies there are 2 companies that are predicted to have the potential for bankruptcy, they are PT Tokio Marine Life Insurance Indonesia and PT Sun Life Financial Indonesia, and 1 company, PT Tokio Marine Life Insurance, wich is in the grey zone