Asuransi Jiwa Kresna (Kresna Life) has been declared bankrupt by the Supreme Court which granted a petition for the insurer’s bankruptcy on 8 June 2021.
The petitioners were six Kresna Life customers. Other clients though are seeking a judicial review of the bankruptcy decision so that it could be overturned. They want Kresna Life to immediately settle their obligations to customers, reported CNN Indonesia.
According to customer representative Nurlaila, many customers are surprised by the bankruptcy decision because the insurer had been making some payments. Bankruptcy means that all assets of the insurer will be taken over by the official assignee. As a result, payments to customers will be stopped until all assets have been sold.
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Read the full article at: https://www.asiainsurancereview.com/News/ViewNewsLetterArticle/id/76939/Type/eDaily/Indonesia-Life-insurer-s-bankruptcy-decision-being-challenged
