We hereby announce that based on the approval letter from the Financial Services Authority (‘OJK’) No. S-978/PD.11/2024 dated 27 September 2024 regarding the Sharia Unit Spin Off Plan (‘RKPUS’), OJK has approved the work plan of PT BNI Life Insurance (“BNI Life”) for spin off the BNI Life’s sharia unit, through by transferring the membership portfolio of the sharia unit to a sharia insurance company that has obtained a business license. 

In accordance with the provisions of the RKPUS, the process of spin off the sharia unit will be completed no later than the third quarter of 2026. BNI Life is committed that the customer will continue to get the same protection benefits as the current benefits in accordance with the terms of the Policy. In the event of any changes in the future, we will make adjustments to this announcement.  

Should customers who have BNI Life Sharia Insurance Products needs further information, kindly contact the Contact Center 1-500-045 or email care@bni-life.co.id. 

Jakarta, November 15, 2024
Board of Directors, PT BNI Life Insurance

Frequently Asked Questions (FAQ) on the Separation of the Sharia Business Unit of PT BNI Life Insurance

1. What is meant by the separation of the Sharia Unit?
   The separation of the Sharia Unit is a legal action taken by an Insurance Company or Reinsurance Company to separate the Sharia Unit, which results in the transfer of assets, liabilities, and equity from the Insurance and Reinsurance Company to the Sharia Insurance Company by law.
   
   
2. What is the process of separating the Sharia Unit?
   As regulated by OJK Regulation (POJK) Number 11 of 2023 concerning the Separation of the Sharia Unit of Insurance and Reinsurance Companies, there are two mechanisms for the separation of the Sharia Unit, namely Establishing a New Company or Transferring the Sharia Unit’s Membership Portfolio to a Sharia Insurance Company that has obtained a business license from OJK. In this case, BNI Life has chosen the mechanism of transferring the membership portfolio from BNI Life’s Sharia Unit to a licensed Sharia life insurance company.
   
   
3. To whom will the BNI Life Sharia Unit transfer the portfolio?
   The Sharia Insurance Company that will receive the portfolio transfer is an Insurance Company that has obtained a business license from OJK. We will notify each Policyholder and Participant about this matter at the earliest opportunity.
   
   
4. When will the separation of the Sharia Unit take place?
   The separation of the Sharia Unit of PT BNI Life Insurance will be completed at the latest on third quarter of 2026.
   
   
5. If I am a customer of BNI Life Insurance and have a Sharia Insurance policy, what will happen to my policy?
   There will be no changes to yourSharia Insurance policy. You will continue to receive protection and benefits in accordance with the terms and conditions that apply to your individual policy.
   
   
6. What steps or actions do I need to take regarding the separation of the Sharia Unit?
   Currently, there is no action required on your part regarding the separation of the Sharia Unit, other than ensuring that your Sharia policy remains active so that the coverage continues. We will provide further details about any technical matters you need to be aware of. All information regarding the plan to separate the Sharia Unit will be communicated transparently.
   
   
7. Will Policyholders receive written notification regarding the transfer of membership?
   As stipulated in SEOJK No. 11/SEOJK.05/2024 concerning the Mechanisms and Procedures for the Separation of the Sharia Unit of Insurance and Reinsurance Companies, BNI Life will notify policyholders about the Transfer of the Sharia Unit’s Membership Portfolio, including but not limited to the process and estimated timeline for the transfer. However, at this time, there is nothing you need to do regarding the separation of the Sharia Unit.
   
   
8. Will the separation of the Sharia Unit impact BNI Life’s services or operational processes?
   BNI Life is committed to continuing to provide optimal service to all customers, so there will be no changes to the services or operational activities.
   
   
9. For more information regarding the separation of the Sharia Unit, where can Policyholders contact? 
   Sharia policyholders, both group and individual, may continue to contact the BNI Life Customer Care service. Policyholders may contact the Customer Care Call Centre at 1-500-045, email individual policyholders at care@bni-life.co.id, email group policyholders at care.eb@bni-life.co.id, or use the live chat service at www.bni-life.co.id. Should there be any changes to customer service, we will inform the customers at the first place.