OJK to Unveil New Business Plan Reporting Standards for Insurance and Reinsurance Companies: Input Open until 20 July 2026

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently completing work on a new Draft Regulation (“Draft Regulation”) of the OJK Board of Commissioners on Business Plans for Insurance Companies and Reinsurance Companies (collectively referred to as “Companies”). If it is ultimately enforced, then this Draft Regulation will repeal and replace the existing formats that apply to business plan reports, business plan realization reports and business plan monitoring reports, as specifically addressed under Circular of the OJK No. 23/SEOJK.05/2024 on the Forms and Structures of Periodic Reports of Insurance Companies and Reinsurance Companies (“Circular 23/2024”).[1]