Aetna to merge with ING Life

JAKARTA (JP): PT Aetna Life Indonesia will integrate its insurance business with ING Life Indonesia following the recent merger of the two firms' parent companies.

A senior executive of PT Aetna Life Indonesia, Vera Sukawati, said here on Tuesday that the merger, which has been in process since December, would create one of the largest insurance companies in the country, with 280,000 customers, 450 employees and 2,600 agents in 21 major cities.

The name of the merged company has not yet been decided, she said, adding that both insurance companies were still seeking government approval for the merger.

The ING Group of the Netherlands officially closed last month its global acquisition of Aetna International and Aetna Financial Services.

The US$7.7 billion acquisition was part ING Group's expansion in financial services.(05)