OJK Reveals How Indosurya Boss Embezzled Hundreds of Billions in Customer Funds

Jakarta, VIVA – The Financial Services Authority (OJK), through its Head of the Directorate of Investigation Policy and Support, Greta Joice Siahaan, has exposed how Henry Surya, boss of PT Asuransi Jiwa Prolife Indonesia (Indosurya), embezzled funds belonging to policyholders, amounting to hundreds of billions of rupiah.

In the financial crime, which took place between 2016 and 2019, Henry established affiliations with four companies issuing Medium Term Notes (MTNs), which came to control the principal funds of 545 Asuransi Jiwa Prolife policyholders.

Those funds were then invested outside the provisions of OJK regulations, with Henry requesting the issuance of MTNs purchased by Asuransi Jiwa Prolife during 2018-2019.

“So between 2018 and 2019, HS ordered the conversion of the MTNs into shares, whereby PT AJ Prolife purchased shares belonging to HS’s relatives. The proceeds from those purchases were then returned to PT AJ Prolife,” Greta said at a press conference at the OJK building in the Lapangan Banteng area of Central Jakarta on Thursday, 9 July 2026.

Not only that, during that period Henry also defaulted on his obligation to pay the 14 per cent interest coupon on the policy investments. When the market value of the MTNs fell in 2019, Henry failed to carry out a buyback and instead requested the conversion of Asuransi Jiwa Prolife’s shares back into MTNs worth Rp 597 billion.

“By 2019, the market value of the shares had fallen and HS did not conduct a buyback, but instead asked the directors to convert the shares back into MTNs worth Rp 597 billion,” she said.

Meanwhile, Director of the OJK Financial Services Sector Investigator Group, Wisnu Widarto, added that the act of embezzlement has ensnared Henry in a violation of Article 54 of Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK) concerning the OJK.

“Any person who deliberately ignores and/or fails to carry out a written order as referred to in Article 9 letter D — this is prosecuted under the written order article. And this is the first case handled by the OJK involving a written order that was not carried out by the recipient of the order,” Wisnu said.

The penalty threatened under Law No. 4/2023 is a maximum prison sentence of 12 years, with fines of up to Rp 300 billion.