BoC Committees for Insurance and Reinsurance Companies

In a bid to introduce provisions which address the establishment of committees, as set out under Regulation of the Financial Services Authority (“ OJK ”) No. 73/POJK.05/2016 on Good Corporate Governance for Insurance Companies (“ Regulation 73/2016 ”), the OJK has issued Circular No. 14/SEOJK.05/2019 on the Establishment, Membership Composition and Terms of Office of Committees within Boards of Commissioners of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies and Sharia Reinsurance Companies (“ Circular 14/2019 ”). [1]