The US-based insurer has bought a 49% stake in Asuransi Jiwa Mega Indonesia, a subsidiary of CT Corp.
Indonesia
The rating agency forecasts significant benefits from recent positive economic developments.
Premium income expanded 25.5% thanks to the popularity of unit-linked and traditional insurance products.
Data released by the OJK shows that life insurers enjoyed solid premium growth in the first three months of this year.
Randy Lianggara, who joined from AXA last year, takes on a newly created role to drive growth in these key markets.
The Financial Services Authority says insurers should help offset the deficit in the state budget.
The Financial Services Authority has issued operational licences to JLT Reinsurance Brokers and Inare Proteksi International.
Life revenues up 50% in Indonesia
February 20
The hike in total premium revenues was complemented by growth in bancassurance segment revenues.
Zurich, Chinese bank tie up on bancassurance
January 30
Indonesian entity of Swiss giant partners with Bank of China to explore bancassurance services.
The agreement gives access to the bank’s retail clients in Hong Kong, Singapore, Malaysia, Indonesia and China.
Hanwa Life Indonesia mulls IPO in 2019
January 16
The IPO is part of an effort to meet the regulator’s 80% foreign ownership limit for insurers.
No buyers for troubled insurer Bumiputera
December 23
The Indonesian government is likely to consider state aid as efforts to find a strategic investor remain futile.
The call was made following the replacement of the board of directors and commissioners of AJB Bumiputera 1912.
Indonesia will see a bigger infrastructure budget for 2017 and it will be favourable to many insurers.
The government-owned insurer looks to tap the younger market in its plan of digitalising its distribution and sales.
The deal with general insurer Asuransi Asoka Mas will provide Etiqa with access to Indonesia’s untapped market.
AIA eyes infrastructure investments in Indonesia
November 18
The country needs US$400b to fund projects until 2020, most of which will come from private investors.
Indonesia urged to use cat bonds
November 4
The SE Asian nation is the latest country to be urged to transfer risk via capital markets.
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