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Jakarta, July 30, 2025 – PT Tugu Reasuransi Indonesia (Tugure) has reaffirmed its commitment to improving literacy in financial governance and the integrity of financial reporting within the financial services industry. This commitment was realized through its support for a Sharing Session organized by the Indonesian Risk Management Professional Association (IRMAPA), attended by representatives from the Financial Services Authority (OJK).
IRMAPA representative Mr. Cipto Hartono expressed appreciation for Tugure’s support in organizing the event. He emphasized that sessions like this serve as strategic platforms for enhancing professional competencies in the field of risk management.
“We strive to increase literacy through various channels such as social media and regular forums like round table meetings. This initiative is part of IRMAPA’s efforts to build cross-sector collaboration,” he stated.
One of the key topics discussed during the forum was the implementation of the ICoFR (Internal Control over Financial Reporting) concept, which has previously been applied in the banking sector and is now being prepared for broader adoption across the non-bank financial sector starting next year.
Tugure’s Director of Operations, Erwin Basri, expressed his enthusiasm for the collaboration with IRMAPA and extended his appreciation to the speakers and participants.
“The implementation of iCover not only promotes strengthened governance and corporate accountability, but also plays a critical role in meeting current regulatory requirements, including IFRS implementation and equity fulfillment by 2028. Tugure is ready to be part of this strategic initiative,” he stated.
During the same session, Ahmad Fuad, Head of the Risk Management and Quality Control Department at OJK, emphasized the importance of maintaining financial reporting integrity amidst governance challenges in Indonesia.
“iCover emerges as a response to the need for stronger internal controls and the prevention of financial reporting manipulation. Its success depends heavily on synergy—between companies as the first line, professional associations as the second line, and regulators as the third line of defense,” he explained.
The discussion was moderated by Tugure’s Head of Compliance Division, Mulia Hizki Simanjuntak, SH., MH., QCRO., CCCO., who brought an engaging and insightful dynamic to the forum. His approach fostered constructive interaction between speakers and participants, making the session a valuable exchange of strategic insights.
This event is expected to serve as a catalyst for broader collaboration in fostering a culture of integrity and sound governance within Indonesia’s financial services industry. Tugure reiterates its commitment to supporting literacy initiatives and capacity-building efforts in the future, and remains open to forging ongoing partnerships with IRMAPA and other stakeholders to strengthen a healthy and integrity-driven financial governance ecosystem.
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