OJK: The Liquidation Team Completed For The First Phase Of Wanaartha Guarantee Fund

Illustration. (Photo: Unsplash)

JAKARTA - Chief Executive of Insurance, Guarantee and Retirement Supervisory Funds of the Financial Services Authority (OJK) Ogi Prastomiyono said that the Liquidation Team had finished distributing the first phase of the guarantee funds to Wanaartha policyholders.

"In accordance with the report submitted by the Liquidation Team, it is known that the Liquidation Team has finished distributing the first phase of guarantee funds proportionally to policyholders," he said in a written statement, quoted from Antara, Saturday, July 13.

He also said that from June to July 2024, the team was currently paying the second phase of guarantee funds to policyholders.

"OJK respects the legal process that has been running until now. At every opportunity OJK always asks Wanaartha owners to return to Indonesia to be held accountable for the legal acts that occur," he said.

Meanwhile, regarding the decision of the Jakarta State Administrative High Court (PTTUN) Number 238/B/2024/PT.TUN.JKT on June 14, 2024, which canceled the revocation of Kresna Life's business license, Ogi stated that his party was currently filing an appeal to the Supreme Court (MA).

His party is also compiling a cassation memory that will be submitted at the time limit that has been determined by the provisions of the law.

"On the existence of the PTTUN decision, the OJK means that it has made legal appeals as applicable. OJK respects the PTTUN decision and continues to monitor the ongoing process. Currently, the Liquidation Team is still working to be able to see and look for existing assets," he added.

Based on the latest information submitted to the OJK, until now the number of Kresna Life policies has recorded around 7 thousand policies, almost all of which are owned by individual customers.