MAPFRE has gained effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA), after obtaining the relevant authorization from the regulatory authorities for the purchase of an additional 31% stake in the company, giving it 51% control. The transaction was closed at a price of 90 million euros, MAPFRE said in a release published on its website on Tuesday (June 13). MAPFRE had in 2013 purchased 20% ABDA shares. In 2015 ABDA was ranked fifth in automobile insurance in Indonesia, with a market share of 6.4%, and the Company ended 2016 with premium volume of 80 million euros and net earnings of 12 million euros.