OJK Is Currently Reviewing The Financial Restructuring Plans Of Several Problem-problem Insurance Companies Such As Wanaartha Life, Kresna Life, To AJB Bumiputera.

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The Financial Services Authority (OJK) is reviewing the financial restructuring plan (RPK) of several problematic insurance companies, namely PT Asuransi Jiwa Adisarana Wanaartha or Wanaartha Life, PT Asuransi Jiwa Kresna or Kresna Life, to PT Asuransi Jiwa Bersama (AJB) Bumiputera.

Regarding Wanaartha Life, OJK Chief Executive Financial Industry Supervisory (IKNB) Ogi Prastomiyono explained that the insurance company had indeed postponed the Extraordinary General Meeting of Shareholders (EGMS) to disband the company and form a liquidation team.

"But on December 30, 2022 at 23.00 WIB, Wanaartha Life handed over a circular GMS related to the disbandment of the company and the formation of the liquidation team," said Ogi at the December 2022 Board of Commissioners (RDKB) Meeting, quoted from Antara, Tuesday, January 3.

Therefore, OJK is reviewing the RPK of Wanaartha Life and its disbandment legally, so that it will still be followed up because it has not exceeded the 30-day period, according to applicable regulations.

Similar to Wanaartha Life, Ogi said that Kresna Life had submitted the RPK on December 30, 2022, according to the set time, which was no later than the end of last year.

"We are studying the RPK Kresna Life whether it is feasible or not," he said.

Then for AJB Bumiputera, he revealed that his party had met representatives of the Board of Member Representatives (BPA) of the company's directors and commissioners, who had determined several rescue steps.

This step is being studied by the OJK, including the possibility of a large discount or haircut of claims. Then there is also a conversion from long-term insurance claims to liabilities, as well as selling Bumiputera assets to pay claim accounts.

The draft plan to settle the company's case has been received by the OJK since December 20, 2022.