For foreign investors · KBLI 65121
100% PMAYes — open to PMA up to 100%.
Operating license routes through Financial Services Authority, not OSS — Emerhub handles the application end-to-end.
- Foreign ownership
- 100% PMA
- Sector regulator
- Financial Services Authority (OJK)
- Min. paid-up capital
- IDR 150 billion (general); IDR 250 billion (sharia) paid-up · POJK 23/2023
- Issuing authority for PMA
- OJK (direct sector licensing, not OSS)Ministry-issuedDomestic registrants route through Minister/Head of Agency instead.
- Risk + license type
- High·NIB + Operating License (Izin)
- Setup timeline
- PT PMA 4–8 weeks; Emerhub files the Operating License (typically 2–6 months ministry review).
What's specific to this sector
- 01
Foreign equity in insurance is capped at 80% under the current Insurance Law.
- 02
OJK licensing is layered: business license + product approval + agent licensing.
- 03
Reinsurance is more open to foreign capital (often 100%) given the technical capital required.
