OJK Issues Business License for CAR Life Syariah

The Financial Services Authority (OJK) has issued a business licence to PT Asuransi Jiwa Central Asia Raya Syariah (CAR Life Syariah), a new entity resulting from the spin-off of the Sharia unit of PT Asuransi Jiwa Central Asia Raya (CAR Life). The licence was issued through the OJK Board of Commissioners’ Decision Number KEP-74/D.05/2026 on 4 September 2026. With the issuance of this business licence, CAR Life Syariah has officially obtained approval to conduct Sharia life insurance business activities in accordance with applicable laws and regulations.

The President Director of CAR Life Insurance, Freddy Thamrin, expressed his appreciation to the OJK, policyholders, participants, business partners, and marketing agents. “As well as all stakeholders for the support and trust provided during the Sharia unit spin-off process,” he stated in an official statement on Wednesday (16/9).

The next stage involves the transfer of the Sharia unit’s membership portfolio from CAR Life to CAR Life Syariah. This will include the transfer of all rights and obligations, encompassing all assets, liabilities, and equity previously owned and managed by the CAR Life Sharia unit.

Information regarding the effective date of the portfolio transfer and other implementation stages will be communicated to all policyholders in accordance with applicable regulations. During this transition period, all services to policyholders and participants will continue as usual, without altering or reducing policy benefits, rights, or the obligations of the related parties.

The Sharia unit spin-off process is being conducted with a focus on the principle of prudence, good corporate governance, and the protection of the interests of policyholders and participants in accordance with statutory regulations.