The case of AJB Bumiputera 1912, this is the progress of the settlement from the OJK
9/05/2022
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| Kasus AJB Bumiputera 1912, Ini Progres Penyelesaian dari OJK |
The Financial Services Authority confirmed that the settlement of the 1912 Bumiputera Joint Life Insurance case was waiting for a financial restructuring plan (RPK) from management.
The Financial Services Authority (OJK) said that the treatment of non-performing insurance in the country will not be the same, including the Bumiputera 1912 Joint Life Insurance (AJB).
In the press conference 'Development of Financial Services Sector Assessment and OJK Policy Results of the Monthly Board of Commissioners Meeting (RDKB) August 2022' which was held today, Monday (5/9/2022), Ogi Prastomiyono, Chief Executive of the Non-Bank Financial Industry Supervision, mentioned the case AJB Bumiputera 1912 continues to be handled.
He said, legally the formation of organizational organs continues to move. OJK has issued approval for the establishment of a Member Representative Body.
"Organizationally, we have approved the BPA, the highest institution in Bumiputera insurance," said Ogi in his presentation.
He also mentioned that the BPA Bumiputera organ had also moved to form an organization, namely the formation of a board of directors and a board of commissioners. Both of these organs have also received approval from the OJK.
"The organs of AJB Bumiputera are complete, both BPA, directors and commissioners," he said further.
So the next step to solve the problems of AJB Bumiputera, he said, was the completion of the company's restructuring plan by the management that had been formed.
"We [the next OJK] are waiting for [AJB Bumiputera]'s financial plan. A reliable RPK (Financial Health Plan) that can be implemented will solve AJB Bumiputera's problems," he said further.
Ogi emphasized that a more serious restructuring plan is needed because the company's form of business entity is a mutual fund. With this concept, the policyholder is also the owner of the company.
As a result, when the company has difficulty paying its insurance obligations, it is the policy holder who indirectly injects capital into AJB Bumiputera.
With this condition, Ogi said that OJK is waiting for a work plan from the company's organs so that liabilities that are larger than current assets can be settled.
