Two STATE-OWNED Reinsurance Company Official Dimerger

Two STAT OWNED Reinsurance Company Official Dimerger, Jakarta- the Indonesian Ministry of State owned enterprises (SOEs) realize theroadmap SOES 2016 reserved combines insurance companies, namely PT GeneralReinsurance Indonesia (Persero) into Main Indonesia Reinsurance PT (Persero).

The Chief Executive of Trustees IKNB OJK Firdaus Djaelani said, STATE-OWNEDinsurance company merger policy is the transformation of national reinsurancecompany advanced towards companies that are large and sturdy.

"General reinsurance Merger Persero, and reinsurance. Thank God after a long process, finally able to witness the signature of General reinsurance merger Indonesiainto the main reinsurance which is as new to the insurance industry's history ofIndonesia, "said Paradise at the Ministry of STATE-OWNED ENTERPRISES, Jakarta, Friday (18/12/2015).

Firdaus said the Government already has long planned to build a large insurance company and sturdy that can reach the entire community needs Indonesia relatedinsurance.

Paradise tells the story, when the newly formed OJK expected her presence couldboost the development of the national economy. One of them is the problem of trade deficit reinsurance with outside parties. However, the premiums that come outapproximately Rp35 trillion deficit approximately USD1 billion. This deficit figure every year continue to undergo development.

"The efforts of menghilangi this deficit can be eliminated, albeit not entirely, graduallywe are able to reduce the deficit. OJK recently published optimaliasi nationalreinsurance capacity. So with a variety of efforts, OJK support in such a way, weprovide the land, is already forcing the insurance companies to put many in the country, while our own way while prepare reinsurance is bigger, "he added.

Post merger, Indonesia Re will transfer to  conventional reinsurance business portfolioReINDO ReINDO vertical merger or which is a subsidiary of RUI into Indonesia Re.Thus, ReINDO became the spirit of Indonesia Re and the engine to the front.

Mere information, Indonesia Re is the result tranformasi of Export Insurance Indonesia(ASEI) that was made by Government holding company national reinsurance companyand changed its name to PT Indonesia Reinsurance Asei (Asei Re) in 2014.

Later, Asei Re betranformasi changes its name to PT Indonesia's main Reinsurance(Indonesia Re) in early 2015. Along with that transformation, Indonesia Re do a spin off direct insurance lines of business with a subsidiary of PT Asuransi Asei Indonesia(insurance Asei) which is the insurance company losses and credit underwriting in 2014. Business direct insurance portfolios transferred to Insurance Asei.

The formation of the parent national reinsurance business it is Government policy to address national reinsurance deficits. With the existence of national reinsurancecompany big and strong, is expected to reduce capital outflow reinsurance premiumswhich currently value reached more than 20 trillion per year.

"Post merger, Indonesia Re will consolidate its business lines-lines and improve the service of reinsurance to its customers, thus being able to give satisfaction to its customers over this," he said. Two STAT OWNED Reinsurance Company Official Dimerger