Jiwasraya Restructuring Will Be Completed by the End of This Year News – 6 hours ago

Jakarta, CNBC Indonesia – The Ministry of State-Owned Enterprises (BUMN) ensures that the transfer of former PT Jiwasraya (Persero) policy holders to IFG Life will be completed by the end of this year or December 2023.

Deputy Minister of BUMN Kartika Wirjoatmodjo said that currently the restructuring process is still ongoing. He hopes that all former Jiwasraya policy holders can be restructured.

“The hope is that all participants in the restructuring and those who disagree will all enter the restructuring and everything will be completed in November or December (2023),” he said at the Ritz Carlton Pacific Place Hotel, Jakarta, Monday (6/11).

Until September 2023, the transfer of policy portfolios (liabilities) worth IDR 31.07 trillion or around 81% of the total liabilities has been transferred. IFG Life is also recorded as having paid claim benefits of IDR 9.12 trillion until September 2023.

Photo: Cover Insight/ Jiwasraya/ Edward Ricardo Cover Insight, Jiwasraya

The restructuring process can be accelerated after Commission VI DPR RI and the government approve the provision of State Capital Participation (PMN) for Jiwasraya. Later, the PMN funds will be used to transfer former Jiwasraya policy holders to IFG Life.

“Jiwasraya should be completed this year, yesterday the PMN for this year and for that year was approved by the APBN Law, and we want to accelerate the restructuring and everything is completed,” he said.

Tiko continued, regarding the dissolution of Jiwasraya after the rescue was carried out, he admitted that his party had to discuss it first with the Financial Services Authority (OJK). This is because the dissolution of insurance companies falls under the authority of the OJK.

“Not yet, we will focus on moving the restructuring to IFG Life first, and Jiwasraya is all the restructuring, we will review in the future what kind of assets and liabilities? Later we will see what the OJK is like? Because if the realm is insurance liquidation, the OJK will decide, right? ” he concluded.

[Gambas:Video CNBC]

(rob/wur)