Business License Applications Flow

Jan 25 2016



Insurance Companies:

Submit the documents required for license applications (Article 8 of Law No. 40 of 2014 and Point b of Paragraph (1) of Article 2 of Finance Minister Decree No. 426/KMK.06/2003)


Financial Services Authority (OJK):

Once the OJK has received the application documents, it will take the following steps:

  1. checking that the documents are complete;
  2. verifying directly to the insurance company's office that it is ready to operate
  3. asking the main parties to take fit and proper tests


If the submitted documents are complete, the OJK will grant its approval to the insurance company (no later than 30 working days) and issue an OJK's Board of Commissioners Decision on the business license provided to the company.


If the submitted documents are incomplete, the OJK will ask the insurance company to supply the missing ones first.

For more information on applications for insurance company licenses, please contact:

Directorate of Non-Bank Financial Institutions and Products
Menara Merdeka Tower, 18th Floor
Jalan Budi Kemuliaan I No. 2, Central Jakarta

Contact Person :
Kurnia Yuniakhir (+62 21 2960 0000 ext. 7842)

Erika Kusumawati and Herra Chrysta Alexandra (+62 21 2960 0000 ext. 4010)

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