Indonesia’s insurance and reinsurance sectors are entering a transformative phase with the implementation of OJK Regulation No. 23/2023. This critical regulation introduces robust equity and capital requirements designed to strengthen financial stability, safeguard policyholders, and foster foreign investment under stringent governance. With a phased compliance timeline extending to 2028, the regulation also introduces classifications based on equity levels (KPPE), setting the stage for a more resilient and competitive industry.

In this insightful article, Dentons HPRP's legal experts, Michael A. Kaihatu (Partner) and Devandra Maula Zakki (Associate), unravel the complexities of this regulation and its implications for domestic and foreign stakeholders. Their expert analysis offers guidance on navigating this regulatory framework and highlights its potential impact on Indonesia’s financial landscape. Don’t miss the chance to stay ahead in this evolving sector.

Read the full article here

Dentons HPRP has extensive experience in advising companies across various industries in the financial sector, including insurance. For further details, please contact the Partners listed under Key Contacts.