March 2025
On December 23, 2024, the Indonesian Financial Services Authority (OJK) issued Regulation No. 36 of 2024 ("Regulation 36/2024"), amending OJK Regulation No. 69/POJK.05/2016, as last amended by OJK Regulation No. 12 of 2024 on Anti-Fraud Strategy for Financial Institutions. This regulation introduces several amendments to several operational parameters for insurance companies, sharia insurance companies, reinsurance companies, and sharia reinsurance companies (the "Insurance Companies").
Regulation 36/2024 will come into effect on 23 June 2025.
Some of the notable highlights from Regulation 36/2024 are as follows