OJK Supports Efforts To Restruct Finance AJB Bumiputera 1912

Chief Executive of Insurance Supervisory, Guarantee and OJK Pension Fund Ogi Prastomiyono (Photo: Capture OJK Youtube screen)

JAKARTA - The Financial Services Authority (OJK) approved the Joint Life Insurance (AJB) Financial Restructuring Plan (RPK) Bumiputera 1912, which is currently in trouble. It was stated that the OJK

The OJK's statement of no objection was issued after conducting a study and discussion with the General Meeting of Members (RUA) dh. Member Representative Body (BPA), Board of Commissioners and Directors of AJB Bumiputera and other independent and professional parties.

The Chief Executive of the Insurance, Guarantee and OJK Pension Fund Ogi Prastomiyono directly conveyed the attitude of the authorities in Jakarta today.

The statement of no objection to the OJK to the RPK AJB Bumiputera is a new chapter in the series of financial restructuring. RPK AJB Bumiputera contains a series of programs that were prepared by prioritizing the principles of Joint Business," he said in an official statement, Friday, February 10.

Ogi explained that his party requested that the implementation of the RPK be immediately communicated to policyholders who are owners of AJB Bumiputera. In the early stages, AJB Bumiputera needs to communicate well regarding the conditions faced and the content of the restructuring program in the RPK.

"OJK as the supervisor will monitor the implementation until the RPK is completed so that the program that is prepared can be carried out according to the set time. OJK also has a special team in this supervision," he said.

Ogi added that he hoped that all stakeholders (policeholders, management, marketers, and trade unions) could support the implementation of the RPK.

It was revealed that AJB Bumiputera, the only insurance company in the form of a joint business in Indonesia, is known to have long had problems related to the deficit in solvability, the infeasibility of RKI, and insufficient liquidity.

This makes the OJK include this company in a special supervisory status and according to the provisions must prepare the RPK.

AJB Bumiputera has several times conveyed the RPK to overcome the problems faced, until the last RPK in which the OJK stated that it did not object on February 10, 2023.