13 Insurers Queueing for Sharia Business Unit Spin-Off in Early 2026

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has announced that 13 insurance companies are currently undertaking the process of spinning off their Sharia Business Units (UUS), in line with the spin-off policy for sharia insurance.

Deputy Chairman of the OJK Board of Commissioners, Hernawan Bekti Sasongko, stated that as of now, five companies have completed the UUS spin-off. The details are as follows: three companies have spun off by establishing new business entities, while two others have chosen to transfer their portfolios.

“Regarding the follow-up on the UUS spin-off for insurance, there are three companies that have spun off by establishing new businesses and two others that have transferred portfolios, and 13 are in the process of spinning off,” Hernawan explained in his presentation at the OJK RDK press conference on Monday (6/4/2026).

It is known that the Financial Services Authority (OJK) stated that at least 29 Sharia Business Units (UUS) will spin off to become full-fledged companies in 2026.

With this action, the Executive Head of Insurance, Guarantee, and Pension Fund Supervision at OJK, Ogi Prastomiyono, said that the total number of sharia insurance companies in Indonesia will reach 45 in 2026. As of now, it is known that only 17 companies have successfully spun off by the end of 2025.

On the other hand, Ogi did not deny that some insurances have decided to return their UUS business licences to the OJK. In other words, those companies do not wish to continue their sharia business and are transferring their customer portfolios to other companies.

“There are some (companies that do not spin off UUS). The key is, they must not harm consumers. So it’s just a portfolio transfer to other Sharia Insurance companies,” Ogi stated when met in Jakarta on Monday (15/12/2025).

According to Ogi, some insurance companies refuse to spin off UUS due to the company’s capabilities not yet being adequate. Therefore, they choose to join a larger ecosystem.