Sunday, July 6, 2025
No Result
View All Result
Indonesia Sentinel
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
No Result
View All Result
Indonesia Sentinel
No Result
View All Result
ADVERTISEMENT
Home Economic

Erick Thohir to Dissolve Jiwasraya, Policy Restructuring Reaches 99.6%

by Becky
2024-08-22
in Economic
A A
(Setkab)

(Setkab)

Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

Jakarta, IndonesiaSentinel — Minister of State-Owned Enterprises (BUMN) Erick Thohir has announced plans to dissolve PT Jiwasraya (Persero) following the completion of a restructuring process for its policyholders. The dissolution, expected to take place in September 2024, aligns with the Financial Health Recovery Plan (RPK) and regulations set forth by the Financial Services Authority (OJK).

Arya Sinulingga, Special Staff to the Minister of BUMN, stated that the liquidation of the state-owned life insurance company is a necessary step following the restructuring. “After nearly all policyholders have been successfully restructured, Jiwasraya will be dissolved. The estimated timeline is September 2024,” Arya said at the BUMN Ministry in Central Jakarta on Thursday (August 22, 2024).

Before the dissolution, the BUMN Ministry had already initiated steps to safeguard the former Jiwasraya policyholders.

RelatedPosts

Rupiah Slips Further as US Dollar Dominates Global Markets

Minister Bahlil Lahadalia Greenlights IDR 280 Trillion Oil and Gas Project in East Kalimantan

The strategy involved the establishment of a new holding entity, the Indonesia Financial Group (IFG), which focuses on insurance, guarantees, and investments. Through this holding, Jiwasraya’s policyholders were transferred to IFG Life, a subsidiary within the holding, as part of the restructuring program.

ADVERTISEMENT

“We’re dissolving Jiwasraya and replacing it with IFG Life to restore the business to its true purpose,” Arya explained.

Backed by Jokowi, PBNU to Invest in Indonesia New Capital IKN

Arya also highlighted the success of the restructuring efforts, noting that 99.6% of Jiwasraya’s policies have been transferred to IFG Life. The remaining 0.4% of policies have either not yet participated in the restructuring or have rejected the terms.

“The total number of corporate clients was 5,686, and we managed to restructure 99.6% of them. Our target was 85%, so this is a significant achievement,” Arya concluded.

(Agung)

Tags: BUMNErick ThohirIFGJiwasrayaMinisterState-Owned Enterprises
ADVERTISEMENT

Related Posts

Del Monte U.S. Filing Bankruptcy, Del Monte Indonesia Continues Normal Operations

2025-07-05

Jakarta, Indonesia Sentinel -- Del Monte Indonesia has confirmed that it will continue operating as usual despite the bankruptcy filing...

Saudi Arabia Energy Investment

Indonesia – Saudi Arabia Sign $27 Billion Investment Deals in Energy Sector

2025-07-05

Jakarta, Indonesia Sentinel -- Indonesian and Saudi Arabia business leaders have signed a series of memorandums of understanding (MoUs) totaling...

Sports Tax

Jakarta Imposes 10% Tax on Various Types of Sports Facilities, Including Currently Trending ‘Padel’

2025-07-02

Jakarta, Indonesia Sentinel -- The Jakarta Provincial Government has officially imposed a 10 percent tax on various types of sports...

Dairy Cows Imports

Indonesia Imports 1,573 Dairy Cows from Australia to Boost National Milk Production

2025-07-01

Jakarta, Indonesia Sentinel -- In a bid to strengthen domestic milk production, Indonesia's Ministry of Agriculture has imported 1,573 dairy...

Ambalat

Indonesia and Malaysia Agree to Joint Economic Development of Disputed Ambalat Block

2025-06-29

Jakarta, Indonesia Sentinel -- Indonesia and Malaysia have agreed to jointly develop the resource-rich Ambalat Block, a disputed maritime area...

Rice Trade Fraud

Agriculture Minister Probes Alleged Rice Trade Fraud, Causing Consumers Loss of up to Rp99.35 Trillion

2025-06-27

Jakarta, Indonesia Sentinel -- Indonesia’s Agriculture Ministry has uncovered suspected fraud in the country’s rice trade, alleging widespread manipulation of...

E-Commerce Tax

Indonesia to Impose New E-Commerce Tax Withholding Rule to Boost Revenue and Compliance

2025-06-26

Jakarta, Indonesia Sentinel -- The Indonesian government is drafting new e-commerce tax regulations that would require online marketplaces such as...

Bitcoin

Bitcoin and Other Crypto Prices Plunges as U.S. Involved in Geopolitical Tensions Between Iran and Israel

2025-06-24

Jakarta, Indonesia Sentinel -- Bitcoin prices plunged amid rising geopolitical tensions in the Middle East, as the conflict between Iran...

Uranium

Indonesia Prepares Regulatory Framework for Uranium Processing Ahead of Nuclear Power Plans

2025-06-22

Jakarta, Indonesia Sentinel -- Indonesia’s Ministry of Energy and Mineral Resources (ESDM) is drafting a new regulation to enable the...

Housing

Indonesia to Renovate Slum Housing with $1.5 Billion World Bank Loan

2025-06-22

Jakarta, Indonesia Sentinel -- Indonesia’s Ministry of Housing and Settlements is preparing to use a $1.5 billion loan offer from...

Load More
Next Post
Worker Layoffs

44.000 Witihin 8 Months, Massive Worker Layoffs in Indonesia Keep on Rising

Popular

  • Forrest Tribe

    Suku Mante, Mysterious Tribe Living in the Vast Forests of Aceh

    0 shares
    Share 0 Tweet 0
  • Top 6 Largest Nickel Mines in Indonesia, Dominate the Global Market in 2024!

    0 shares
    Share 0 Tweet 0
  • Ethnic Groups of Indonesia, A Tapestry of Cultural Diversity

    0 shares
    Share 0 Tweet 0
  • Bali Tourism Welcomes 6.3 Million Foreign Tourists in 2024, Sets Higher Target for 2025

    0 shares
    Share 0 Tweet 0
  • Indonesia’s Life Expectancy Rises to 74.15 Years in 2024, Statistics Agency Reports 

    0 shares
    Share 0 Tweet 0

Recommended

Largest Dragon-Shaped Jade from Neolithic Era Discovered in China

Largest Dragon-Shaped Jade from Neolithic Era Discovered in China

10 months ago
Bali Subak

Bali Subak, Indonesia’s World Heritage Facing Challenges Amid Tourism Development

8 months ago
ADVERTISEMENT

Indonesiasentinel.com is an independent online news portal committed to providing accurate, in-depth, and up-to-date news about Indonesia. Since 2021, we have been a trusted source for millions of readers seeking relevant and reliable news.

Part of:

Information Page

  • About
  • Editorial
  • Privacy Policy
  • Disclaimer
  • About
  • Editorial
  • Privacy Policy
  • Disclaimer

Contact

  • contact@indonesiasentinel.com
© 2021 Indonesia Sentinel

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science

© 2024 Indonesia Sentinel