Aditya Hadi (The Jakarta Post)
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Jakarta ●
Tue, August 8, 2023
Insurance firms have raised concerns about the Financial Services Authority’s (OJK) plan to raise the minimum capital requirements for 2026 and again for 2028.
The firms are lobbying the government for leeway to make the increase more gradual, as doubts exist whether the firms could even meet the proposed new rules.
The OJK’s plan, revealed in May, is to hike the minimum capital requirement for insurance companies from the current Rp 100 billion to Rp 500 billion in 2026 and Rp 1 trillion in 2028.
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