Police holders told to stay calm<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Policy holders of PT Prudential Life Insurance should remain calm
\nover a bankruptcy suit against the company as it would not affect
\nthem, the Indonesian Life Insurance Association (AAJI) said in a
\npress statement on Wednesday.<\/p>\n
AAJI deputy chairman Adi Purnomo said that the bankruptcy suit
\nwas filed due to the company's failure to keep an agreement with
\na third party, and not with its policy holders.<\/p>\n
\"Thus, policy holders (of Prudential) need not worry about
\ntheir accounts as we believe that the company will keep its
\ncommitment to make sure that the suit won't affect them,\" said
\nAdi.<\/p>\n
He could not provide exact details of the suit, but said: \"All
\nI know is that the suit was filed by a third party, who is not a
\npolicy holder.\"<\/p>\n
According to tempointeraktif.com, a Prudential agent named Lee
\nBoo Siong filed a bankruptcy suit with the Commercial Court in
\nCentral Jakarta against the company on April 7 over its failure
\nto pay Lee bonuses amounting to some Rp 10 billion (US$1.17
\nmillion), which included a one-year bonus of Rp 4.9 billion, a
\nrecruitment bonus of Rp 4.9 billion and a consistency bonus of Rp
\n1.4 billion.<\/p>\n
Prudential denied that such a thing had ever occurred.<\/p>\n
Data from AAJI's financial report, which was made available to
\nthe public, shows that Prudential had a 255 percent Risk Based
\nCapital (RBC) rate last year (compared to the minimum requirement
\nof 100 percent), and a 110 percent liquidity rate. Both RBC and
\nliquidity rate are indices used by the Ministry of Finance to
\ndetermine the condition of an insurance company. The higher the
\nrate, the better.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/police-holders-told-to-stay-calm-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}