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Saturday, 26 July 2014 | 08:02
Jokowi Launches Beef Market Operation Beef Market Operation isconducted to meet the increased demand
for meat nearing the Eid al Fitr celebration day.
Saturday, 26 July 2014 | 07:44
PKB to Prevent Formation of Election Special Committee The Nation Awakening Party (PKB) has planned to initiate
political efforts to reject the formation of a special committee
in the recent election.
OJK Revokes Asuransi Jiwa Nusantara Business License
Friday, 14 June, 2013 | 13:20 WIB
OJK Revokes Asuransi Jiwa Nusantara Business License

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) has revoked the business license of life insurance company Asuransi Jiwa Nusantara. The revocation was stipulated under the OJK Board of Commissioner Directives No. KEP-42/D.05/2013 issued on June 12.

Supervisory deputy commissioner Ngalim Sawega said that Asuransi Jiwa Nusantara has failed to fulfill the requirements on financial health, including risk based capital, investment consideration ratio of technical reserves to claim debts, and subordination repayments. The company has been given the chance to meet the requirements and was sanctioned to postpone their business activities until June 10.

"However, until the designated deadline, the company could not overcome [its financial situation]; therefore, based on existing law, an annulment is in order," said Ngalim in a press release on Thursday, June 13.

RIRIN AGUSTIA