Insurance Businesses Permitted to Locate Data Centers and Disaster Recovery Centers Overseas

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) recently issued Regulation No. 38/POJK.05/2020 of 2020 (“Amendment”) on the Amendment to Regulation of the OJK No. 69/POJK.05/2016 of 2016 on the Organization of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies and Sharia Reinsurance Companies (“Regulation 69/2016”),[1] which sets out the legal basis for insurance businesses which are looking to locate their data centers and disaster recovery centers outside of Indonesian territory.[2] In this context, the Amendment addresses the following specific matters: