This OJK Regulation (POJK) issued to strengthen investment governance in insurance and reinsurance companies, is necessary to enhance risk management related to investment placements and to maintain financial soundness. In addition, more comprehensive regulations on investment diversification and investment placements with related and non-related parties are needed to support financial market deepening and optimize benefits for policyholders. Considering the development of the insurance industry, the provisions under POJK No. 71/POJK.05/2016 and its amendments are no longer adequate and therefore need to be replaced with a more relevant regulation.