Jakarta – Former Director of the Budget of the Ministry of Finance (Kemenkeu) Isa Rachmatarwata has been charged with the prejudice of state finances RP 90 billion related to the alleged corruption case of financial management and investment funds of PT Asuransi Jiwasraya for the period of 2008-2018. The prosecutor said that Jesus enriched two reinsurance companies. The accusation of Isa Rachmatarwata was held at Jakarta Corruption Court on Tuesday (8/26/2025). The prosecutor said that Jesus committed his actions with former PT AJS directors, who have now been convicted, namely Hendrisman Rahim as President Director, Harry Prasetyo as Finance Director, and Syahmirwan as head of the investment and finance division. “That the actions of defendant Isa Rachmatarwata, both individually and together with Hendrishman Rahim, Harry Prasetyo and Syahmirwan, as mentioned above, led to the financial losses of the state of CQ PT Asuransi Jiwasraya amounting to RP 90 billion,” the prosecutor said while he read the charge. Browse to continue with content prosecutors said that Jesus allegedly approved insurance products when Jiwasraya’s condition went bankrupt while serving as head of the Insurance Bureau or Bapepam-LK (Capital Market Supervisory Agency and Financial Institutions) for the period 2006-2012. While the prosecutor said, the determination of reinsurance for the obligation to the policyholder to the overseas insurance company is not regulated by the decision of the Minister of Finance Number 422/kmk.06/2003, which implemented insurance companies and reinsurance companies that Jesus did not change the company’s reinsurance company of the Meridian Idian Idian Idian Idian Idian Idian Idian Idian Idian Idian Idian Idian Idian Idian of RP 40 billion. The profits of the two companies were then regarded as financial losses of the state caused by ISA. The prosecutor enriched the two companies paid to the Provident Capital Ltd on May 12, 2010, with a total of 50 billion RP. Thereafter, Pon 1 recruitment insurance paid to the best Meridian Insurance Company on September 12, 2012 with a total of RP 24 billion, as well as PON 2 relay insurance paid to the best Meridian Insurance Company on January 25, 2013, amounting to RP 16 billion. “That the actions of the defendant, both individually and together with HendriMan Rahim, Harry Prasetyo and Syahmirwan, enriched, one, the Provident Capital Ltd Resurance Company in the amount of RP 50 billion. Two, base repetition company Meridian Iridian Company, was RP 40 billion,” The prosecutor charged with ISA who violates section 2 paragraph (1) or section 3 in collaboration with section 18 of the Corruption Act in collaboration with section 55 paragraph (1) of the Criminal Act. The beginning of this case began when the KMPMD (future policy benefits) had an accumulated RP 10.7 trillion in December 2009. To overcome this, the prosecutor said that Jiwasraya entered into a reinsurance agreement with the Provident Capital Ltd. On December 15, 2009, the prosecutor said that the reinsurance agreement only received a letter from Bapam. At the head of Bapepam-LK associated with Jiwasraya’s health efforts on January 6, 2010, the prosecutor said the official memorandum describes several things. First, PT AJS is the only SOE that is working on the life insurance that is currently insolven and a equity shortage of RP 5.45 trillion, with the condition on September 30, 2009, the total wealth of RP 4.78 trillion and a total obligation of RP 10.23 trillion. Then the company drew a planning plan in the form of a trademark business and by the Minister of Bumn’s letter number SR-413 of July 9, 2009, which submitted alternative settlement by the PMN (state capital participation) of RP 6 trillion with a 17-year period. Second, related to the presentation of financial statements by taking into account the results of the independent actary review of PT AJs, two things are asked. These two things improve the quality of the presentation and openness of the 2009 financial statements, especially those related to future policy commitments to the insured or participants. Then accelerate the improvement of information technology systems to support the company’s operations and review financial planning plans. The prosecutor said that Isa Masdar, as head of the finance analyst, asked to convey the quality of openness, accelerate the improvement of information technology and the results of an independent review of financial projections based on the official memorandum. On January 11, 2010, Masdar delivered the office of the office number MD-027 in 2010 to Isa. The prosecutor said that the official memorandum basically contains the need for disclosure of public information regarding the management of the company, the need for information technology systems in the presentation of company data, and generally agreed with reports submitted by independent actors in performing the financial statements of the financial statements of PT AJS. It is said that Isa Masdar asked to make a letter to Bapepam-LK to be addressed to the Bumn Minister with a copy of the Minister of Finance regarding the restructuring of PT AJs. “When the former managing director of PT AJS HendriMan Rahim transferred to the defendant over the reinsurance scheme that will be carried out within 17 years. Furthermore, defendant Hendrican contacted Rahim to meet the World Bank Consultant on behalf of Rudolfo and Escobar at the defendant’s office who helped PT AJs,” the Prosecutor explained. A long story short, they met and discussed each other related to the reinsurance scheme planned to be performed by Jiwasraya that reinsurance could be done for a ten -year period. However, the prosecutor said Jesus agreed and Jiwasraya orally said that only two years had been given to feed Jiwasraya through the reinsurance scheme. “However, the defendant agreed and reported orally to PT AJS, giving only two years to feed Jiwasryaya through a reinsurance scheme,” the prosecutor said. The prosecutor said that the managing director of AJS Hendrich then reported to the Bumn Minister, who asked him to follow the scheme and PT AJS agrees. In the process, the prosecutor said that AJS had a discussion with a number of overseas reinsurance companies, but that the majority rejected reinsurance cooperation with the AJS, on the grounds that the number of liability that was too large and the company did not want to use the company’s model for PT AJs, because PT AJs could not work with foreign reinance companies. “To increase the amount of claim debt on the saving of plan products on December 31, 2019, RP is worth 12.23 trillion, including claims on Bukopin Saving Plan Products, saving plans for plans and JS saving products approved and incorporated by defendant Isa Rachmatarwata,” the prosecutor said. (Mib/maa)
The former Director General of the Ministry of Finance has been charged with the loss of the state RP. 90 billion in the Jiwasraya case
