The Indonesian government set a 80 percent cap on foreign ownership in Indonesian insurance companies through Government Regulation No. 14/2018 on Foreign Ownership of Insurance Companies. Suahasil Nazara, Fiscal Policy Head at Indonesia's Finance Ministry, said foreigners can remain controlling a big stake (up to 80 percent) in the domestic insurance industry because it is believed that domestic insurance players still need the knowledge and capital that strategic foreign investors bring from abroad.
Update COVID-19 in Indonesia: 59,394 confirmed infections, 2,987 deaths (2 July 2020)
2 July 2020 (closed)
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