Insurance and Reinsurance Companies May Soon Postpone Periodic Reports Submissions Due to Force-Majeure Events

In 2021, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) issued Circular No. 9/SEOJK.05/2021 (“ Circular 9/2021 ”) on the Forms and Structures of Periodic Reports of Insurance Companies and Reinsurance Companies (collectively referred to as “ Companies ”). Broadly speaking, Circular 9/2021 sets out the various obligations that must be met by Companies regarding the drafting and submission of periodic reports to the OJK before the determined deadlines (“ Periodic Reports ”). [1]