OJK Approves Business License for PT MCP Insurance Broker After Name Change

Regulatory Approval for Name Change

The Financial Services Authority (OJK) has officially granted a business license to PT MCP Insurance Broker following the company's name change from PT Mitra Cipta Proteksindo. The approval was made through the OJK Board of Commissioners' Decision No. KEP-622/PD.02/2025 dated November 21, 2025. The change was officially published on OJK's website on December 2, 2025, confirming the company's continued operations in the insurance brokerage sector.

Regulatory Process and Compliance

The OJK's decision to grant the business license under the new name demonstrates the regulator's oversight in ensuring compliance with financial services regulations. The process involves verifying that the company maintains the necessary requirements and standards for operating as an insurance brokerage firm in Indonesia. By approving the name change, OJK allows PT MCP Insurance Broker to continue its business operations without disruption.

Impact on Business Operations

The approval enables PT MCP Insurance Broker to maintain its existing business relationships and continue serving its clients under its new identity. The name change, coupled with regulatory approval, is expected to have a positive impact on the company's branding and market presence while ensuring compliance with regulatory requirements.

Regulatory Framework

The OJK plays a crucial role in overseeing and regulating the financial services sector in Indonesia, including insurance brokerage firms. The regulator's approval process involves thorough examination and verification of the company's compliance with existing regulations and standards. This includes ensuring that the company maintains adequate capital requirements, adheres to business conduct rules, and meets other regulatory obligations.