On 2 October 2020, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan – OJK) issued Circular Letter No. 19/SEOJK.05/2020 on the Distribution Channel of Insurance Products (the Circular Letter), which provides...more
The OJK introduced new regulation to facilitate the transformation of foreign bank branches into subsidiaries and address certain existing uncertainties in executing bank M&A.
The key change is the introduction of branch...more
From January 2020, there has been a relaxation to the existing restrictions on foreign equity ownership of an Indonesian insurer, which will “grandfather” existing foreign ownership interests in excess of the 80% threshold...more
Indonesia has enacted Regulation no.14/2018 on Foreign Ownership of Insurance Companies, which came into force on 18 April 2018 and confirms a maximum threshold for foreign ownership of an Indonesian insurance company of...more