OJK Requires Insurance to Increase Capital, Are Business Players Ready?

Jakarta, Armfalcon.com- OJK is prepared to increase paid-up capital for the establishment of paid-up capital for insurance companies, reinsurance companies, sharia insurance and sharia reinsurance. It was stated that the paid-up capital was increased to IDR 500 billion for insurance companies and IDR 1 trillion for reinsurance companies.

President Director of PT Asuransi Bintang Tbk, Hastanto Sri Margi Widodo, considers that this new regulation is in accordance with the Statement of Financial Accounting Standards (PSAK) 74 to anticipate business risks, although efforts are currently needed to achieve the capital target referred to by the OJK.

For the reinsurance industry, the President Director of PT Reasuransi Indonesia Utama (Persero), Benny Waworuntu, also views this regulation as positive to encourage reinsurance capacity to provide greater protection.

What is the readiness of business actors for the obligation to increase capital in the insurance and reinsurance industry? In full, see Anneke Wijaya’s dialogue with the President Director of PT Asuransi Bintang Tbk (ASBI), Hastanto Sri Margi Widodo and the Main Director of PT Reasuransi Indonesia Utama (Persero), Benny Waworuntu and the President Director of PT Reasuransi Maipark Indonesia, Kocu Andre Hutagalung in Power Lunch, Armfalcon.com ( Thursday, 04/05/2023)