Domestic general insurance industry still a magnet for foreign investors

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Investment
Photo : OCBC NISP

Jakarta, IO – Indonesia’s general insurance industry is still attractive in the eye of foreign investors, even recently it was reported that several investors are negotiating to obtain controlling interest in some insurance firms.

Recently, PT Hanwha Life Insurance Indonesia (HLII), a subsidiary of South Korea-based Hanwha Life Insurance Co. Ltd., is in talk to take over PT Lippo General Insurance (LPGI).

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The LPGI takeover process was carried out through the purchase of shares owned by PT Inti Anugerah Pratama (IAP) and PT Star Pacific Tbk (LPLI). HLII will purchase shares owned by IAP representing 42.79% of total shares and shares owned by LPLI representing 4.90% of total shares.