Indonesia: Regulator highlights industry progress in divesting takaful windows

Source: Middle East Insurance Review | Jun 2026

The Financial Services Authority (OJK) has announced that 41 Shariah insurance and reinsurance companies have submitted their Shariah Unit Separation Work Plans (RKPUS) in compliance with regulations.

Twenty-eight of these entities opt to establish new companies to undertake takaful operations. The remaining 13 companies will transfer their portfolios to other companies,” said Mr Hernawan Bekti Sasongko, Deputy Chairman of the OJK Board of Commissioners.

The OJK projects that the number of Shariah insurance companies will increase significantly to 45 at the start of 2027.

Currently, nine companies are in the process of establishing new operations. Meanwhile, three additional companies are finalising the transfer of their Shariah-compliant business portfolios to other parties.

OJK has stipulated that takaful windows be spun off by the end of December 2026. M

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