IFG Partners with Ministry of Law to Strengthen Governance for SOE Insurance Consolidation
Indonesia Financial Group (IFG) has partnered with the Ministry of Law to strengthen corporate governance as part of the consolidation process for state-owned enterprises (SOEs) within the insurance, guarantee, and investment cluster managed by Danantara Indonesia. Strengthening governance is considered a vital foundation to ensure the company’s transformation process proceeds in accordance with legal provisions and the principles of good corporate governance (GCG).
The Director of Business at the Ministry of Law, Andi Taletting Langi, stated that the success of an SOE is not measured solely by the size of its assets, but also by the quality of its governance, which builds stakeholder trust. “SOEs should not take pride merely in possessing large assets. Building good governance is far more valuable because that is what builds trust with regulators, investors, and all stakeholders,” Andi said in a written statement on Friday.
Andi expressed appreciation for the IFG Regulatory Update session, which discussed the implementation of the Ministry of Law Regulation Number 49 of 2025 regarding the Requirements and Procedures for the Establishment, Amendment, and Dissolution of Limited Liability Companies. He noted that such forums are essential for strengthening regulatory understanding to support the SOE consolidation process.
The session addressed the implementation of the latest provisions regarding legal entity administration, including the use of the Legal Entity Administration System (SABH), substantive verification of transactions involving changes to company data, annual report obligations, inactive corporations, and various technical aspects of legal entity administration.
IFG’s Director of Human Resources and Legal, Rizal Ariansyah, stated that IFG continues to foster a culture of compliance as part of its implementation of good corporate governance. As part of Danantara Indonesia, IFG is committed to ensuring that the consolidation of SOEs in the insurance cluster proceeds in accordance with good corporate governance and prevailing laws.
“Good corporate governance and regulatory compliance are essential foundations for maintaining integrity, business continuity, creating legal certainty, and building public and stakeholder trust in the IFG Group,” said Rizal.
Rizal added that IFG also invited partner notaries to the event to ensure all involved parties share a uniform understanding of legal entity administration provisions under the Ministry of Law Regulation Number 49 of 2025. He emphasised that this shared understanding is necessary to ensure all corporate actions are executed accurately, timely, and in accordance with regulations. Through strengthened regulatory compliance, Rizal hopes that the quality of corporate governance, risk management, and IFG’s transformation process will continue to improve, ultimately enhancing the company’s competitiveness and public trust in IFG as the holding company for the insurance, guarantee, and investment SOE sector.