Efficiency Determinants of Islamic Insurance in Indonesia

This paper aims to divulge Islamic Insurance company efficiency and factors affect it. This paper uses quantitative approach using DEA (Data Envelopment Analysis) to assess efficiency and Linear Regression to analyze factors affected it. Input Variables of this paper are Total Asset, Expenses and Claim payment, whereas output variables are income and tabarru fund within the period of 2012-2016. Objects of this research are Asuransi Syariah Al – Amin, Takaful and Asuransi Syariah Amanah Gita. The result showed that in 2012 Asuransi Syariah Al-Amin, Asuransi Syariah Amanah Gita, and Takaful reached 100% efficiency. In 2013, 2014, 2015 both Asuransi Syariah Al-Amin and Takaful reached above 50% efficiency, while Asuransi Syariah Amanah Gita only reached under 50% efficiency. Meanwhile in 2016 both Asuransi Syariah Al-Amin and Takaful reached 100% efficiency, while Asuransi Syariah Amanah Gita only reached above 50% efficiency. Furthermore, it showed that only ROE and LNTA significantly affect efficiency.     Keywords: ISLAMIC INSURANCE, EFFICIENCY, ROE, LNTA, TE