SoEs Set up New Insurance Firm with Jiwasraya

Four Indonesian state-owned companies (SOEs) joined with PT Jiwasraya, set up an insurance company. The majority of PT Jiwasraya Putra shareholders own by its parent 64%.

While, the property lender PT Bank Tabungan Negara Tbk (BBTN) will hold 20% of the new joint venture company, followed by PT Telekomunikasi Seluler 13%. While the other shares hold by PT Kereta Api Indonesia and PT Pegadaian. According to Gatot Trihargo, deputy at the SOEs ministry, the four SOEs not only acting as shareholders but also acted as distributors of the the Jiwasraya Putra‘ product. “