EIG, Lippo form alliance<\/p>\n
JAKARTA (JP): American International Group, Inc (AIG), a U.S.-
\nbased insurance organization, has entered into an agreement to
\npurchase a 70 percent stake in PT Asuransi Jiwa Lippo Utama, a
\nsubsidiary of PT Asuransi Lippo Life.<\/p>\n
With the purchase, PT Asuransi Jiwa Lippo Utama will become a
\njoint venture which will be renamed PT Asuransi AIG Lippo Life
\n(AIG Lippo Life), the two companies said in a statement.<\/p>\n
The joint venture company will market life, pension and health
\nproducts to Indonesians through the existing distribution
\nnetwork.<\/p>\n
The investment in AIG Lippo Life significantly strengthened
\nAIG's life insurance presence in Indonesia, Edmund Tse, AIG vice
\nchairman for life insurance, said after the signing of the
\nagreement here on Wednesday evening.<\/p>\n
He said that AIG's existing life insurance operations in
\nIndonesia conducted through American International Assurance
\nCompany would continue to operate and would not be consolidated
\ninto the new joint venture.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/eig-lippo-form-alliance-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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