{
    "success": true,
    "data": {
        "id": 1787141,
        "msgid": "ojk-states-ifg-has-submitted-plan-for-soe-insurance-consolidation-1780812144",
        "date": "2026-06-05 19:44:13",
        "title": "OJK States IFG Has Submitted Plan for SOE Insurance Consolidation",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Finance",
        "summary": "The Financial Services Authority (OJK) has confirmed that Indonesia Financial Group (IFG) has presented a proposal to consolidate state-owned insurance companies. The plan involves various strategies, including mergers and acquisitions, to strengthen capitalisation and ensure the stability of the insurance sector.",
        "content": "<p>The Chief Executive of Insurance, Guarantee, and Pension Fund\nSupervision at the Financial Services Authority (OJK), Ogi Prastomiyono,\nstated that Indonesia Financial Group (IFG) has submitted a plan for the\nconsolidation of state-owned enterprises (SOEs) within the insurance\nsector. IFG, also known as PT Bahana Pembinaan Usaha Indonesia (BPUI),\nserves as the holding company for SOEs in insurance, guarantees, and\ninvestment.<\/p>\n<p>Ogi Prastomiyono noted in Jakarta on Friday that OJK is continuously\ncoordinating with relevant stakeholders to ensure the consolidation\nprocess is measured and does not disrupt operations or public services.\nThe plan for conventional general insurance SOEs involves both full and\nselective consolidation, while the consolidation of conventional life\ninsurance companies will be carried out in several stages through\nacquisitions or mergers. Meanwhile, the consolidation of Sharia general\ninsurance companies will be achieved by acquiring one of the companies\nand transferring business portfolios to it.<\/p>\n<p>Beyond insurance, Ogi mentioned that IFG has also proposed a\nconsolidation plan for conventional guarantee companies through a\nbusiness purification scheme, alongside plans for Sharia guarantee\ncompanies. However, the regulator has not yet received detailed\nproposals regarding the consolidation of state-owned reinsurance\ncompanies. Regarding the final number of entities that will exist\npost-consolidation, Ogi stated that this will depend on the decisions\nand designs established by shareholders and relevant parties.<\/p>\n<p>Consolidation is an initiative supported by OJK to enable domestic\ninsurance and reinsurance companies to strengthen their capital and\nequity, thereby ensuring they can meet obligations to policyholders. OJK\nhas mandated that conventional insurance companies meet a minimum equity\nrequirement of IDR 250 billion, Sharia insurance companies IDX 100\nbillion, conventional reinsurance companies IDR 500 billion, and Sharia\nreinsurance companies IDR 200 billion by 31 December 2026. As of April\n2026, 118 out of 145 insurance and reinsurance companies, both\nconventional and Sharia, have met these minimum equity requirements. OJK\nis encouraging companies that have not yet met the criteria to develop\nand implement measured capital strengthening plans. Ogi clarified that\nif companies fail to meet the requirements by the deadline, OJK will\ntake supervisory measures in accordance with regulations, including\nrequiring companies to implement recovery plans and other gradual\nsupervisory actions.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-states-ifg-has-submitted-plan-for-soe-insurance-consolidation-1780812144",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}