Aetna sets up firm here

Aetna sets up firm here

JAKARTA (JP): PT Danamon International and Aetna Life Insurance Company of the United States have established a joint venture insurance company in Indonesia with a paid-up capital of Rp 22.5 billion (US$10.1 million).

Michael A. Stephen, the president of Aetna Life, was quoted by Antara as saying on Tuesday evening that ownership in the company was divided equally Danamon and Aetna.

The executive said the new firm would operate in life insurance and planned to open four offices in Jakarta, one in Surabaya, East Java, and one in Bandung, West Java. (hdj)