Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors

Financial Services Authority Circular Letter Number 13/SEOJK.05/2025 Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors

Abstract:

As fulfillment of the mandate of Article 8 and Article 12 of the Financial Services Authority Regulation Number 22 of 2024 concerning Periodic Reports of Insurance Companies (POJK 22/2024), it is necessary to refine the regulations regarding the Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors, which are regulated in:

1. Financial Services Authority Circular Letter Number 25/SEOJK.05/2020 concerning the Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors; and
2. Financial Services Authority Circular Letter Number 21/SEOJK.05/2023 Amending the Financial Services Authority Circular Letter Number 25/SEOJK.05/2020 concerning the Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors.

The legal basis for this Financial Services Authority Circular Letter is: POJK No. 22 of 2024.

The refinements made include among others:

1. addition of regulations regarding the procedure for submitting corrections for quarterly reports for insurance brokerage companies and reinsurance brokerage companies;
2. addition of report formats for the implementation of anti-fraud strategies and AML-CFT risk assessment reports for insurance brokerage companies and reinsurance brokerage companies;
3. addition of report formats for the human resource quality development plan report, the realization report of the human resource quality development plan, and the anti-fraud strategy implementation report for insurance loss assessment companies; and
4. addition of transitional provisions regarding the submission of Periodic Reports in accordance with the Form and Structure of Periodic Reports available in the OJK reporting system.

Note: This Financial Services Authority Circular Letter takes effect as of the date of establishment. This Financial Services Authority Circular Letter was established on June 23, 2025. Upon the entry into force of this Financial Services Authority Circular Letter:

1. Financial Services Authority Circular Letter Number 25/SEOJK.05/2020 concerning the Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors; and
2. Financial Services Authority Circular Letter Number 21/SEOJK.05/2023 concerning the Amendment to the Financial Services Authority Circular Letter Number 25/SEOJK.05/2020 concerning the Form and Structure of Periodic Reports for Insurance Brokerage Companies, Reinsurance Brokerage Companies, and Insurance Loss Assessors, are revoked and declared invalid.

In the event that the Financial Services Authority reporting system has not yet provided the Form and Structure of Periodic Reports in accordance with the provisions in this Financial Services Authority Circular Letter, the submission of Periodic Reports shall be submitted in accordance with the Form and Structure of Periodic Reports available in the Financial Services Authority reporting system.