OJK Still Monitors 11 Troubled Insurance Companies

OJK Still Monitors 11 Troubled Insurance Companies

JAKARTA, KOMPAS.com – The Financial Services Authority (OJK) said that there are still 11 insurance companies that are included in the special supervision category. Regulators also emphasized not to hesitate to take firm action against the company.

“There are still 11 (insurance companies under special supervision),” said Chief Executive of OJK Insurance, Underwriting and Pension Fund Supervision, Ogi Prastomiyono as quoted from Kontan.co.id, Friday (7/7/2023).

Ogi said that his party asked the 11 insurance companies to immediately make improvements or revitalize the companies in this case the issue of capital.

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“We ask shareholders to fix it, if there is a lack of capital, please deposit capital, if something is repaired, it must be repaired. They have to submit their Financial Restructuring Plan (RPK),” said Ogi.

Ogi said that the 11 insurance companies that are currently under special supervision are also checked from every aspect of their health, not lagging behind the level of solvency or risk based capital (RBC) to the investment adequacy ratio (RKI).

Previously, in a press conference at the OJK Board of Commissioners (RDK) meeting, Tuesday (4/7), Ogi emphasized that his party would not hesitate to take firm steps against the company.

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“If they are not cooperative in solving problems, of course OJK will take firm action to protect consumers in order to provide certainty to stakeholders and improve the image of the insurance industry in Indonesia,” he said.

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Unfortunately, Ogi did not mention anyone to the 11 insurance companies under this surveillance. What is clear is that the number of companies under surveillance has not decreased since February 2023. (Reporter: Arif Ferdianto | Editor: Tendi Mahadi)

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This article has been published on Kontan.co.id with the title OJK Still Monitors 11 Troubled Insurance Companies

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2023-07-07 13:44:00
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