OJK Reveals Two Key Policy Focuses For Accelerating Transformation In The Insurance, Pension Fund, And Guarantee Sectors

The Financial Services Authority (OJK) is speeding up the transformation of the Insurance, Pension Fund, and Guarantee sectors (PPDP) by strengthening and developing regulations and policies. This aims to create a healthy and robust industry that protects consumers, enabling sustainable growth and greater contributions to the national economy. OJK's Executive Head for Insurance, Guarantee, and Pension Fund Supervision, Ogi Prastomiyono, stated that the policy direction for PPDP in 2025 will remain consistent, focusing on two simultaneous strategies.

First, there will be a policy to address current issues by resolving problems objectively and decisively while ensuring consumer protection. Second, there will be a focus on strengthening the PPDP sector at three levels: the industry, associations or professions, and regulators. "In 2025, OJK will continue to emphasize strengthening and developing the Insurance, Guarantee, and Pension Fund sectors. As part of its legislative program, OJK plans to draft 7 OJK Regulations (POJK) and 9 OJK Circular Letters (SEOJK) in the PPDP area, including a POJK on Insurance Financial Health and an SEOJK on Health Insurance. We hope the entire industry will participate in the regulatory drafting process," Ogi said during the PPDP Regulatory Dissemination Day 2025 event on Monday (February 3, 3035).

The event also featured a presentation on the PPDP Supervision Framework by Deputy Commissioner Iwan Pasila, followed by the dissemination of three OJK Regulations (POJK) mandated by Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (UU P2SK). The first regulation is POJK Number 34 of 2024, which focuses on improving the quality of human resources for insurance companies, guarantee institutions, pension funds, and specialized institutions in the insurance, guarantee, and pension fund sectors.

Tag: Financial Services Authority OJK PPDP