OCBC NISP Acquires Controlling Stake in Great Eastern Life Indonesia

PT Bank OCBC NISP Tbk (OCBC NISP) has announced the acquisition and assumption of control of PT Great Eastern Life Indonesia (GELI). The bank confirmed that the Financial Services Authority (OJK) approved the change in ownership on 28 July 2026, officially making OCBC NISP the new controlling shareholder of the life insurance company.

The acquisition was executed through a reclassification of GELI’s shares. Prior to the transaction, The Great Eastern Life Assurance Company Limited held all of GELI’s issued and fully paid shares, totalling 1,052,265,817 ordinary shares, with the remaining 5,501,504 shares held by PT Han Yang Primatama.

Following the reclassification, OCBC NISP becomes the controlling shareholder with a 20% stake, comprising one Series A share with special rights to control and consolidate GELI, along with 103,661,197 Series B shares and 107,892,267 Series C shares. The Great Eastern Life Assurance Company Limited retains an 80% economic interest through its holdings of Series B and C shares, but without controlling voting rights. The bank stated this corporate action was undertaken to comply with OJK Regulation No. 30 of 2024 concerning Financial Conglomerates and Financial Conglomerate Holding Companies.