- The Financial Services Authority (Otoritas Jasa Keuangan – "OJK") has issued Circular No. 21/SEOJK.05/2023 on the Amendment to Circular of the OJK No. 25/seojk.05/2020 on the Form and Structures of Periodic Report for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Appraisal Companies ("Circular 25/2020"), which has been in force since 7 December 2023. At its core, the Amendment has redefined the types of report that must be submitted by said companies.
- Report for insurance brokerage companies and reinsurance brokerage companies now comprises the following: 1) periodic report (i.e. quarterly, annually, and annual financial statement which has been audited by public accountant); and 2) non-periodic report (i.e. business plan and its realization report, business plan supervision report, appointment of public accountant, and realization of the use of public accountant services).
- Report for insurance loss appraisal companies now comprises the following: 1) periodic report (i.e. annually and annual financial statement which has been audited by public accountant); and 2) non-periodic report (i.e. appointment of public accountant and its realization).
- As for the form and structures, the formats have been provided under the Appendices to the Circular.
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