Malaysia Issued Regulation of Shape and Structure of Financial Statements Announcement of Insurance and Reinsurance Company

The Capital Market Supervisory Agency in Malaysia and the Institute Finance issued regulations related  to insurance business, namely Chairman of Bapepam-LK Regulation of Shape  and Structure of Financial Statements Announcement Insurance and Reinsurance Company.

The background of the drafting of the Chairman of Bapepam-LK Regulation are:

The need for transparency (disclosure of information) a better idea of the condition an financial  performance of insurance companies and reinsurance companies.

Chairman of the enactment of the Capital Market Supervisory Agency and Financial Institution  PER-06/BL/2011 number of Form and Structure Reports and Announcements Report Business  Insurance and Reinsurance business with Sharia resulting need fo adjustments to the Directorate  General of Financial Institutions Decree No. Kep 4033/LK/2004 about the shape and composition as well as the Insurance Business Reports and Form Announcement of Financial Structure of Insurance and Reinsurance Compan and the Director General of Financial Institutions  Kep-390/LK/2005 Number Guidelines for calculation of Financial Soundness and Structure  Reports and Form Finance For Non PT Insurance Company, as amended by regulatio Chairman of  the Board of Supervisors Mo dal Market and Financial Institutions No. Per-09/BL/200 on the  amendment to the Director General of Financial Institutions No. Kep 390/LK/2005 Guidelines for  Calculation and Forms of Financial Soundness an Structure of the Financial Statements for  Non-Insurance Company PT.

The implementation of Statement of Financial Accounting Standards (SFAS) No. 1 of the  Presentation Financial statements result in the need for adjustments to the shape and arrangement financial statements of insurance companies and reinsurance companies.

The shape and arrangement of the announcement of annual financial statements of insurance companies and reinsurance companies set out in appendix Chairman of Bapepam-LK Regulation.

These include the shape and arrangement of the announcement to:
a. Insurance companies and reinsurance companies with conventional principles;
b. Insurance companies and reinsurance companies with the conventional principles who has a business unit of insurance with Islamic principles;
c. Life Insurance Company with conventional principles;
d. Life Insurance Company with the conventional principle that has a business unit of insurance with Islamic principles;
e. Life Insurance Company with the conventional principle that market insurance products That Associated with an Investme