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Author	Prof Theresia Anita Chritiani, S.H,M.Hum.
Organisation/Institution	Faculty of Law Universitas Atma Jaya Yogykarta
Country	INDONESIA
Panel	Law and Economic Development
Title	FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING FINANCIAL HEALTH OF INSURANCE COMPANIES AND REINSURANCE COMPANIES IN INDONESIA (CASE STUDY OF PT ASURANSI JIWASRAYA)
Abstract	PT Asuransi Jiwasraya (Persero) suffered losses and could fail to fulfill its obligations and default. If a default occurs, the policyholder will suffer the most significant loss. The impact is the potential for a decrease in public trust in insurance institutions. Based on Financial Services Authority Regulation (POJK) Number 5 of 2023 Concerning the Second Amendment to Financial Services Authority Regulation Number 71 / POJK.05 / 2016 Concerning the Financial Health of Insurance Companies and Reinsurance Companies, especially in Article 54 of POJK, it is specified that OJK can order a company to transfer part or all of its insurance portfolio to another company when the company cannot meet the Solvency Level. Based on the POJK. The policyholder restructuring mechanism is given an offer to have their portfolio transferred to the IFG Life company. This study aims to prove that POJK or the Financial Services Authority Regulation has yet to be able to support the legal objective of providing benefits to policyholders, as stated by Jeremy Bentham. It is a normative study that uses secondary data as the primary data.
Biography	I am a full-time professor at faculty of Law Universitas Atma Jaya Yogyakarta from 1993 untill today. My research focus are economic law