News Regulations08 May 2023

Indonesia:Regulator proposes higher minimum capital requirement for insurers

| 08 May 2023

The goal is to ensure that the insurance industry is healthy and to boost consumer confidence in the sector. Mr Ogi Prastomiyono, chief executive of the Supervision of Insurance and Guarantee Institutions, and Pension Funds, at the OJK, said that the current minimum capital required is too low compared to the business risks faced by insurance companies.

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