OJK Seizes IDR 113.97 Billion in Assets from Jiwa Prolife Insurance

The Financial Services Authority (OJK) has seized assets worth IDR 113.97 billion from PT Asuransi Jiwa Prolife, previously known as PT Asuransi Jiwa Indosurya Sukses, after the company was proven to have harmed its customers. The seized assets include cash and property.

OJK Chief Commissioner Friderica Widyasari Dewi stated in Jakarta on Thursday that investigators had taken various steps, from inquiry to the seizure of evidence and economically valuable assets. She confirmed that PT Asuransi Jiwa Prolife was proven to have harmed its consumers by using customer funds for personal interests.

Based on the investigation results, the case involves alleged neglect or obstruction of OJK’s authority during the 2020 to 2023 period, as well as the alleged failure to execute a 2023 written order from OJK to pay compensation to consumers amounting to IDR 566.24 billion. “We ensure that all innovation and growth developments in the financial sector do not sacrifice the interests of consumers and the public,” she said.

In the PT Asuransi Jiwa Prolife Indonesia case, the OJK team, assisted by law enforcement officials from the Indonesian National Police, the Attorney General’s Office, and the Ministry of Agrarian Affairs and Spatial Planning, carried out the seizure of the company’s assets. “The assets are in the form of cash and several property assets seized from the owner. This demonstrates that OJK’s investigative function is working well, and this is certainly due to the synergy and collaboration with ministries and agencies,” she added.