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January 23, 2025 | 06:35 am
TEMPO.CO, Jakarta - The Financial Services Authority (OJK) announced that it has revoked the business license of general insurance company PT Berdikari Insurance. Based on the announcement on the official OJK website, the revocation of the business license in the insurance sector was stipulated through the Decree of the OJK Board of Commissioners Members Number KEP-11/D.05/2025 dated January 17, 2025.
Head of the Department of Licensing, Special Inspection and Quality Control of Insurance, Guarantees and Pension Funds OJK Asep Iskandar said that since the revocation of this license, shareholders, directors, board of commissioners, and employees of PT Berdikari Insurance are prohibited from transferring, pledging, pledging or using assets, or taking other actions that can reduce assets or lower the value of the insurance company's assets.
"PT Berdikari Insurance is prohibited from conducting business activities in the general insurance sector, and is required to stop all business activities both at the head office and offices outside the head office," said Asep in the official OJK announcement, Wednesday, January 22, 2025.
Then, the company is required to prepare and submit a closing balance sheet to the OJK no later than 15 days from the date of revocation of the business license. Not only that, this general insurance company is also required to hold a general meeting of shareholders no later than 30 days from the date of revocation of the business license to decide on the dissolution of the legal entity of PT Berdikari Insurance, and to form a liquidation team. OJK also requires PT Berdikari Insurance to carry out other obligations in accordance with applicable laws and regulations.
"Furthermore, after the formation of the liquidation team, shareholders, directors, board of commissioners, and employees of PT Berdikari Insurance are required to provide data, information, and documents required by the liquidation team and are prohibited from obstructing the liquidation process carried out by the liquidation team," said Asep.
Previously, OJK imposed a Business Activity Restriction (PKU) sanction on PT Berdikari Insurance (PT BIC). The company was deemed to have violated a number of provisions in the insurance sector.
"The imposition of the PKU sanction is a series of supervisory processes carried out by OJK," said Acting Head of the Literacy, Financial Inclusion and Communication Department of OJK, M. Ismail Riyadi on Friday, September 13, 2024.
Vedro Imanuel Girsang contributed to the writing of this article.
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