Asuransi Allianz Life Indonesia: towards the creation of a takaful insurance subsidiary

Asuransi Allianz Life Indonesia (Allianz Life) is considering spinning off its takaful business into a separate entity. The Indonesian insurer is planning to establish its own takaful subsidiary in 2023.

This decision is consistent with the draft law that requires the creation of separate entities for any insurance company that wishes to market takaful products. Insurers have until 2024 to comply with the regulation.