General Insurance Article - ACE completes acquisition of Indonesian insurer


 ACE has announced that the company has acquired 80% of PT Asuransi Jaya Proteksi in Indonesia.
 Jakarta-based Asuransi Jaya Proteksi is one of Indonesia’s top 10 general insurers and a leader in personal lines. The company offers property, motor, accident and health insurance as well as commercial insurance coverages such as marine cargo and liability insurance and has an extensive distribution system throughout Indonesia, including a network of branch offices, partnerships with local banks and multi-finance companies, and relationships with brokers and agents.

 “We are pleased to complete this transaction, diversifying our business in Indonesia with a well-established personal lines insurance franchise, while expanding our accident and health and commercial property and casualty businesses,” said Damien Sullivan, regional president, ACE Asia Pacific. “Indonesia’s strong economic and demographic trends provide an ideal environment for sustained growth across all our general and life insurance businesses.”
  

Back to Index


Similar News to this Story

Smaller insurers to benefit from new Solvency UK thresholds
PRA update increases gross written premium income threshold, by a further £10 million compared with original proposals, to £25 million. Insurers opera
Firms facing unprecedented polycrisis of risk
67% of leaders surveyed say that the risk landscape is now ‘many times more complex’ than it was just three years ago at the height of the covid crisi
Cascading effect of natural disasters and key emerging risks
The 2024 edition of Swiss Re's SONAR report features 16 emerging risks and their potential impacts on the insurance sector and society. Key risks

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.