OJK Grants Business Licenses to Insurance Brokers Following Name Changes

Regulatory Compliance and Operational Legitimacy

The Financial Services Authority (OJK) has officially granted business licenses to two insurance brokerage firms following their corporate name changes. The decisions, announced on December 24, 2025, through publications on OJK's official website, demonstrate the regulator's ongoing oversight of the insurance sector ¹

PT WPS Insurance Broker Approval Details

1. Company: PT Web Proteksi Solusindo (now PT WPS Insurance Broker)
2. OJK Decision: KEP-680/PD.02/2025 dated December 12, 2025
3. Key Statement: "The name change is effective from the date of the OJK Commissioner's Decision" ¹
   Source 1

   https://keuangan.kontan.co.id/news/ojk-beri-izin-usaha-pialang-asuransi-pt-wps-insurance-broker

PT Krida Upaya Tunggal Pialang Asuransi Approval Details

1. Company: PT Krida Upaya Tunggal (now PT Krida Upaya Tunggal Pialang Asuransi)
2. OJK Decision: KEP-681/PD.02/2025 dated December 17, 2025
3. Effective Date: Same as the decision date ²
   Source 2

   https://keuangan.kontan.co.id/news/ojk-beri-izin-usaha-pt-krida-upaya-tunggal-pialang-asuransi

Regulatory Significance

The OJK's actions demonstrate its commitment to maintaining proper registration and compliance within Indonesia's insurance brokerage sector. According to I Wayan Wijana, Head of Licensing Department at OJK, these changes are effective immediately and bring the companies into full regulatory compliance.

Industry Impact

These approvals will likely enhance market confidence in both firms as they continue their operations with updated regulatory status. The insurance brokerage sector remains under close supervision as the regulator continues to enforce compliance through licensing updates.