Analisis Penyebab Financial Distress Yang Dialami Oleh Pt Asuransi Jiwasraya (Persero)

One w ay to protect ourself from risks that will occur in the future is by joining an insurance program. However, nowadays many people are hesitant to join the insurance program because of the news about Financial Distress that has been following by several insurance companies in Indonesia. One of them is PT Asuransi Jiwaasraya (Persero). This study aims to analyze financial distress reports made by PT. Asuransi Jiwasraya (Persero).The sample used is financial statement data from the website www.jiwasraya.go.id 2015-2019. The data analysis technique uses the Altman Z Scored method in non-manufacturing companies that do not go public.Based on the research results it is known that in 2015 the prediction results of the bankruptcy of PT Asuransi Jiwasraya (Persero) are in the gray zone. Meanwhile, in 2016-2019 it is in a distress zone. Based on the analysis of financial statements, it is known that the cause is company debt, especially in 2018-2019 and lack of capital, which causes defaults to customers.Suggestions from this research are expected that the Government will immediately investigate the parties involved in it and improve its performance management. In addition, state equity participation (PMN) and insurance ordering are also alternative solutions to save from default. Keywords: Financial Distress, bankruptcy, insurance, Altman Z Scored, Financial Statements