ANALISIS ALTMAN Z-SCORE UNTUK MEMPREDIKSI FINANCIAL DISTRESS PADA PERUSAHAAN ASURANSI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2020-2023

The insurance industry has a fairly important role in protecting against unexpected events, both risk that impact business entities and risks that impact individuals that will occur in the future. This study aims to analyze the potential for financial distress in insurance companies listed on the Indonesia Stock Exchange during the 2020-2023 period using the Altman Z-Score model. The research sample consisted of 15 insurance companies selected based on the purposive sampling method. The data used is secondary data in the form of the company's annual financial report. The analysis results indicate that one company is experiencing financial distress. Five other companies are categorized in the gray area and nine companies show non-distress conditions. These findings confirm the potential for financial distress in the insurance sector. The results of this study can help insurance companies identify financial distress risks and take strategic measures to improve their financial condition.