{
    "success": true,
    "data": {
        "id": 1649741,
        "msgid": "several-insurance-companies-collectively-submit-financial-reports-whats-going-on-1775049387",
        "date": "2026-04-01 18:55:40",
        "title": "Several Insurance Companies Collectively Submit Financial Reports, What's Going On?",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Regulation",
        "summary": "Several Indonesian insurance companies have delayed submitting their 2025 financial reports by the 31 March 2026 deadline due to challenges in implementing the new PSAK 117 accounting standard, prompting the Financial Services Authority (OJK) to consider extending the reporting period. OJK's Executive Head of Insurance, Guarantee, and Pension Fund Supervision, Ogi Prastomiyono, stated that forcing unprepared submissions would be counterproductive, with the extension likely to run until April to June 2026 for the fourth-quarter 2025 reports only. This regulatory flexibility aims to ensure accurate financial reporting amid industry adaptation struggles, though exact numbers of affected firms remain unverified.",
        "content": "<p>Jakarta, CNBC Indonesia \u2014 Several insurance companies are observed to\nhave not yet submitted their 2025 financial reports (lapkeu) by the\nreporting deadline of 31 March 2026.<\/p>\n<p>The Executive Head of Insurance, Guarantee, and Pension Fund\nSupervision at the Financial Services Authority (OJK), Ogi Prastomiyono,\nstated that the delay is related to the implementation of PSAK 117.\nAccording to him, the new standard is causing difficulties for industry\nplayers in the financial reporting process.<\/p>\n<p>Ogi mentioned that OJK is considering granting a relaxation in the\nform of an extension of the reporting deadline. This step is taken to\navoid forcing the preparation of financial reports under unprepared\nconditions.<\/p>\n<p>\u201cWe want to give a relaxation by adding time because if it\u2019s forced\n(to submit financial reports), it wouldn\u2019t be good either,\u201d Ogi\nexplained when met at the RI House of Representatives Building in\nJakarta on Wednesday (1\/4\/2026).<\/p>\n<p>Thus, the reporting deadline is expected to be extended until around\nApril to at most June 2026. However, Ogi emphasised that this relaxation\npolicy applies only to the fourth-quarter 2025 reporting period.<\/p>\n<p>Regarding the number of companies that have not submitted financial\nreports, OJK admitted it does not yet have precise data. This is because\nthe reporting process is still ongoing and not fully verified by the\nauthority.<\/p>\n<p>Nevertheless, based on disclosures on the Indonesia Stock Exchange,\nseveral insurance issuers are observed to have not yet announced their\n2025 fiscal year financial reports.<\/p>\n<p>Some of them include PT Asuransi Dayin Mitra Tbk (ASDM), PT Asuransi\nMaximus Graha Persada Tbk (ASMI), PT Asuransi Jiwa Syariah Jasa Mitra\nAbadi Tbk (JMAS), PT Maskapai Reasuransi Indonesia Tbk (MREI), and PT\nAsuransi Tugu Pratama Indonesia Tbk (TUGU).<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/several-insurance-companies-collectively-submit-financial-reports-whats-going-on-1775049387",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}