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OJK Allow AJBB to Market Their Insurance Products


22 Maret 2018
OJK Allow AJBB to Market Their Insurance Products

The Financial Services Authority granted a license to Bumiputera 1912 Life Insurance 1912 (AJBB) to market its insurance products as part of the restructuring efforts of one of the oldest insurance companies in Indonesia.

"Based on the report of AJBB Statutory Management and OJK inspection results, we view AJBB is ready again to market its insurance products in line with its sanitation program," said Chairman of OJK Commissioner Board Wimboh Santoso in Jakarta on Thursday. (22/3/2018).

According to him, OJK has conducted a direct examination on AJBB on 7 to 23 February 2018 and then to ensure the readiness of AJBB re-operational after in 2017 did not market its products.

The scope of the examination carried out, among others, concerning the readiness of products to be marketed, marketing programs and agencies to be used, policies and operational standards established, Information Systems and Technology, as well as Human Resources and other supporting infrastructure.

"We continue to encourage AJBB to continuously improve service quality and operational performance so as to provide the best service and keep the public's trust in AJBB and insurance world in Indonesia," he said.

Previously, as part of the mandate of Law No. 40 of 2014 on Insurance, OJK on February 27, 2018 and then issued OJK Rule Number 1/POJK.05/2018 on Financial Health for Insurance Company Shaped Business Entity Law Joint. These rules regulate financial health for insurance companies in the form of joint legal entities such as AJBB. (Zainuddin).

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