AJB Bumiputera has new directors and commissioners

The Financial Services Authority (OJK) has authorized Bumiputera 1912 Joint Life Insurance (BVBA) to re-market insurance products as part of the restructuring efforts of one of Indonesia's oldest insurance companies.

"Based on the report of the AJBB 's statutes officer and the results of the OJK' s review, we find that it is ready to put back on the market its products. insurance in accordance with its restructuring program, "said the chairman of the OJK commissioners' council, Wimboh Santoso in Jakarta, Thursday (03/22/2018).

According to him, OJK conducted a direct inspection at the AJBB from 7 to 23 February 2018, then to ensure that Bumiputera Together Life Insurance was ready to resume operations after 2017 and not to market their products.

The scope of the exam includes preparation of products to market, marketing and agency programs to use, established policies and operational standards, information and technology systems, human resources and other related infrastructure.

"We continue to encourage AJBB to continually improve service quality and operational performance in order to be able to provide the best service and maintain public confidence in AJBB and the world of insurance in Indonesia," he said. he declared.

Previously, as part of the mandate of the Insurance Law No. 40 of 2014, OJK issued an OJK regulation No. 1 / POJK.05 / 2018 regarding health financing for insurance companies under the form of common business entities. These provisions regulate the financial health of insurance companies in the form of joint venture legal entities such as AJBB.