6521Reinsurance

This subgroup includes reinsurance businesses, which involve providing reinsurance services. Reinsurance is the process of insurers transferring a portion of their risk to other insurers or reinsurers. These reinsurance activities can be conducted conventionally or based on Sharia principles. Reinsurance operations are carried out by conventional reinsurance companies, Sharia-compliant reinsurance companies, and Sharia-compliant units of conventional reinsurance companies, all of which are regulated and supervised by the Financial Services Authority (Otoritas Jasa Keuangan or OJK).