BNI sets up insurance company<\/p>\n
JAKARTA (JP): Publicly listed Bank Negara Indonesia (BNI) has
\nestablished a life insurance company in cooperation with its
\npension fund and the employees' welfare foundation of the state-
\nowned life insurance company Jiwasraya.<\/p>\n
BNI announced yesterday a 60 percent stake in the insurance
\ncompany, which has a paid-in capital of Rp 15 billion (US$5
\nmillion).<\/p>\n
Its partners, Jiwasraya's employees' foundation Yayasan
\nKesejahteraan Karyawan has a 30 percent stake while BNI's pension
\nfund holds the remaining 10 percent in the new insurance company
\ncalled PT Asuransi BNI Jiwasraya (BNI Life).<\/p>\n
President of the new insurance company, Ubung Bachtiar, said
\nBNI Life was founded in November, 1996 but was only licensed to
\noperate by the Ministry of Finance in July this year.<\/p>\n
"Our main market target is BNI's debtors, BNI's subsidiaries
\nas well as its pension fund's subsidiaries," Bachtiar said during
\na ceremony to sign a reassurance agreement between BNI Life and
\nPT Reasuransi International Indonesia.<\/p>\n
He said BNI Life would cover all BNI borrowers' credit as part
\nof the lending contract with creditors.<\/p>\n
"Customers need not pay the premium themselves because BNI
\nwill do that on their behalf," he said, adding the bank increased
\nits lending rate to cover the premium.<\/p>\n
He said although BNI Life had been given the right to cover
\nBNI clients' credit, it would provide its costumers with good
\nservice.<\/p>\n
Bachtiar said the company currently focused on costumers in
\nthe greater Jakarta area because it lacked the technological
\nresources to set up online connections to all BNI offices
\nthroughout the country.<\/p>\n
"I hope next month we'll finish installing all the equipment,"
\nBachtiar said, adding that about 2,500 BNI Life customers lived
\nin the greater Jakarta area.<\/p>\n
Bachtiar refused to target customers, but said all BNI
\ndebtors, which included 130,000 people, were potential clients.
\n(jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bni-sets-up-insurance-company-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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