In November 2020, PT Asuransi Jiwa Kresna (known as Kresna Life linked to PT Kresna Graha Investama Tbk – KREN) was sued by one of its clients. Within less than a month, the Company was forced to restructure its debts in a period of Suspension of Debts Payment (PKPU). The PKPU process was resolved peacefully in February 2021 and Kresna Life began to repay their obligation starting March 2021. That said, some of its clients were not satisfied with the result and filed for a cassation. The Supreme Court ruled in favor of the cassation petition and annulled the peace agreement. So Kresna Life is declared bankrupt. 

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