{
    "success": true,
    "data": {
        "id": 1800566,
        "msgid": "ojk-focuses-on-building-strong-foundation-for-insurance-sector-reform-1781272488",
        "date": "2026-06-12 20:07:46",
        "title": "OJK Focuses on Building Strong Foundation for Insurance Sector Reform",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Finance",
        "summary": "Indonesia's Financial Services Authority (OJK) is concentrating on establishing a robust foundation for national insurance sector reform through four key pillars. The regulator views 2026 as a critical phase for strengthening implementation, with priorities including capital reinforcement, sharia unit spin-offs, and new risk-based capital frameworks.",
        "content": "<p>Yogyakarta (ANTARA) - The Chief Executive of Insurance, Guarantee and\nPension Fund Supervision at the Financial Services Authority (OJK), Ogi\nPrastomiyono, has affirmed that the institution is focusing on building\na strong foundation for national insurance sector reform. \u201cOver the past\nfour years, OJK has focused on building a strong foundation for\ninsurance sector reform,\u201d he said during a press conference on the\nsidelines of the Indonesia Insurance Summit 2026 in Yogyakarta on\nFriday. According to him, this effort is carried out through four main\npillars: strengthening capital and deepening the market, enhancing\ngovernance and risk management, reinforcing the industry ecosystem, and\naligning with international standards and best practices. \u201cTherefore, we\nview 2026 as a crucial phase to strengthen the implementation of the\nvarious reform agendas that have been established,\u201d he stated. Ogi\nfurther explained that OJK\u2019s main focuses in 2026 include the first\nphase of capital strengthening, the implementation of sharia unit\nspin-offs, the development of a New Risk-Based Capital (New RBC)\nframework, and the enhancement of insurance product governance and\nquality. \u201cThis also includes preparations for the implementation of Law\nNumber 4 of 2023 concerning the Development and Strengthening of the\nFinancial Sector, specifically the Policy Guarantee Programme and the\nstrengthening of the insurance company resolution framework,\u201d he said.\nMeanwhile, Chairperson of the OJK Board of Commissioners, Friderica\nWidyasari Dewi, asserted that the insurance sector plays an increasingly\nstrategic role in supporting national economic resilience. \u201cFor OJK,\ninsurance is not merely a risk management instrument, but part of the\nnational economic infrastructure that supports community resilience,\nbusiness continuity, and economic stability,\u201d she said. According to\nher, the prospects for developing Indonesia\u2019s insurance sector remain\nvast, with a population of over 280 million and continuously increasing\nprotection needs, leaving significant room for industry growth. As of\nApril 2026, she noted, total insurance industry assets were recorded at\nRp1,202 trillion, growing by 3.39 percent year-on-year. The Indonesia\nInsurance Summit is an annual forum for the national insurance industry\norganised by the Indonesian Insurance Council together with all national\ninsurance associations. Through this forum, the Indonesian insurance\nindustry is expected to strengthen its capacity to face future\nchallenges while enhancing its contribution to financial system\nstability, public protection, and sustainable national economic\ndevelopment. \u201cThis forum serves as a collaborative platform for\nregulators, industry players, academics, and strategic partners to\ndiscuss current issues, opportunities, and the direction of Indonesia\u2019s\ninsurance industry development,\u201d said Chairman of the Indonesian\nInsurance Council (DAI) Yulius Bhayangkara.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-focuses-on-building-strong-foundation-for-insurance-sector-reform-1781272488",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}