Astra CMG Life expands

JAKARTA (JP): Astra CMG life insurance company will open five new branches in Balikpapan, East Kalimantan, Semarang, Pontianak, West Kalimantan, Bogor and Denpasar later this year, marketing director Suparno Djasmin said on Wednesday.

Djasmin said in a statement the new offices would join the network of 20 branches of Astra CMG already operating in provincial capitals.

He said the expansion would serve Indonesia's life insurance market which was picking up as the country's economy recovered.

Suparno said the company, which had 315,000 customers and 1,500 employees, booked a 55 percent increase in premium income in 1998 and had targeted the same growth rate for this year.

Astra CMG Life is a joint venture between Australia-based Colonial Limited, which is best known in Asia as CMG Asia, and the Astra Group.

Astra recently launched its latest worldwide health scheme -- Danatra Medi Plus. (01)