The spin-off of insurance company’s sharia units // Corporate

This podcast series is curated by our formal association firm in Indonesia, Widyawan & Partners.

Episode 4: Regulatory Developments in Indonesia – a Multi-Sectoral Highlight

The Financial Services Authority (“OJK”) finally issued the long awaited OJK Regulation No. 11 of 2023 on Spin-off of Sharia Units of Insurance Companies and Reinsurance Companies (“OJK Reg 11”). The obligation to spin-off sharia unit was mandated by the Insurance Law. However, due to lack of guidelines to implement this spin-off requirement, only few insurers have completed their sharia unit spin-off. OJK Reg 11 is issued to accommodate feedback from the industry to give clearer guidance on the spin-off requirements. This OJK Reg 11 is expected to boost the insurers’ compliance to spin-off its sharia unit, the topic will be discussed by our corporate M&A partner, Teguh Arwiko and managing associate, Tengku Almira Adlinisa in this episode.

To listen to all episodes in this series, visit our Regulatory Developments in Indonesia – a Multi-Sectoral Highlight.