English OJK and Insurance Rejuvenation


OJK and Insurance Rejuvenation

In contrast to the very large banking sector government bailout, the insurance sector emerged from the 1998 Asian economic crisis without being bailed out. That does not mean the sector was not hit by the crisis.

Oleh Junaedy Ganie
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Financial problems related to Jiwasraya’s default on the JS Plan policy of Rp 16.7 trillion, the capital, said to be negative Rp 29 trillion, the arrears of Bumiputera’s customer claims, the alleged investment problems in several other insurers, the impact of the Jiwasraya case on other insurers [...]