Heaptalk, Jakarta — The Financial Services Authority (OJK) announced the revocation of PT Asuransi Allianz Life Indonesia’s Sharia business unit license on Thursday (09/26). Allianz stated that the license revocation was a follow-up related to the separation process of Allianz Life’s Sharia Business Unit, or spin-off.
The spin-off process involved transferring the management of Allianz Life’s Sharia Business Unit to PT Asuransi Allianz Life Syariah Indonesia, or Allianz Syariah. This step was taken in line with the establishment of Allianz Syariah, which has officially been operating since November 2023. The revocation of this business unit marks the final phase of the spin-off process, which was required.
“This is since the Sharia life insurance business that Allianz Life’s Sharia Business Unit previously managed has been fully transferred and is now managed by Allianz Syariah since November 1, 2023,” said Wahyuni Murtiani, Head of Corporate Communication at Allianz Indonesia.
The company emphasized that the revocation of Allianz Life’s Sharia Business Unit does not affect customers who hold Sharia insurance policies previously issued by Allianz Life. All customers with Sharia insurance policies have been informed that their policy management was transferred to Allianz Syariah in November 2023. “Therefore, customers will continue to enjoy the same services and benefits as before,” Allianz stated.
Allianz Indonesia also reaffirmed that it consistently complies with various regulations set by the Financial Services Authority and other relevant regulators when conducting its business activities.
