Over two years ago, in light of the corruption scandal in PT Asuransi Jiwasraya, the public learned about a different problem in PT Asuransi Jiwa Adisarana Wanaartha, also known as WanaArtha Life. Initially, the company objected to the Attorney General’s Office (AGO) decision which seized their assets in the case. As a result, the company cannot fulfill its obligations to its clients. However, the case would actually be the beginning of revelation of other crimes committed by WanaArtha officials. In addition to a criminal investigation initiated by the police, the company operating license has finally been annulled by the Financial Service Authority (OJK) in December 2023. Soon after, a liquidation team was formed, however, without much communication with the policyholders causing another confusion. Towards the end of last week, a lawsuit on Suspension of Debts Payment (PKPU) was finally submitted against the company.
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