OJK Grants Reporting Relief for Insurers, Extends SLIK Compliance to 2027

Jakartaweekly.com – JAKARTA. Otoritas Jasa Keuangan (OJK) has introduced a series of policy adjustments aimed at maintaining reporting quality while supporting the readiness of insurance, reinsurance, and guarantee companies in complying with regulatory requirements.

The measures are part of OJK’s broader effort to safeguard industry performance, stability, and sustainability. They are also expected to provide companies with additional flexibility in meeting reporting obligations while reinforcing governance and resilience across the financial services sector.

Extension of Audited Annual Financial Report Deadlines

Through an official letter addressed to industry associations and companies, the Chief Executive of Insurance, Guarantee, and Pension Fund Supervision announced an adjustment to the submission timeline for audited 2025 annual financial statements prepared under PSAK 117 (Insurance Contracts).

To ensure the quality, consistency, and reliability of PSAK 117 implementation, OJK has extended the deadline for submitting audited annual financial reports for general insurance, life insurance, and reinsurance companies from April 30, 2026 to June 30, 2026.

This adjustment is intended to give the industry sufficient time to ensure full readiness in implementing PSAK 117. In line with this extension, OJK has also revised related reporting obligations, including:

• Postponement of asset value updates in the OJK Revenue Information System (SIPO) until audited financial reports are submitted;
• Extension of the deadline for publishing summarized audited financial statements to July 31, 2026; and
• Adjustment of the Sustainability Report submission deadline to June 30, 2026.

OJK stated it will continue to monitor the implementation of these policies to ensure compliance remains timely and aligned with prevailing regulations.

Adjustment to SLIK Reporting Obligations

In a separate communication, OJK also announced an extension of the implementation timeline for reporting obligations under the Sistem Layanan Informasi Keuangan (SLIK) for general insurance and sharia general insurance companies offering credit insurance and/or suretyship products, as well as guarantee and sharia guarantee companies.

This policy reflects OJK’s effort to enhance the quality and integrity of reporting systems, while allowing time for improvements in reporting mechanisms, supporting infrastructure, and the availability and quality of debtor data.

Under the new policy, the deadline for compliance as SLIK reporting entities—previously set for July 31, 2025 under OJK Regulation No. 11/2024—has been extended to no later than December 31, 2027.

Companies are expected to use the additional time to strengthen cooperation with relevant stakeholders and enhance their information systems to ensure full readiness as SLIK reporting entities.

OJK emphasized that the policy does not constitute a relaxation of obligations, but rather a strategic step to ensure high-quality and sustainable implementation. The regulator will continue to conduct regular monitoring and evaluation to ensure compliance and improve reporting standards across the industry.