Astra CMG plans expansion

Astra CMG plans expansion

JAKARTA (JP): Astra CMG Life, a joint venture life insurance
company owned by the Astra Group and Colonial Limited of
Australia operating in Asia as CMG, will go ahead with its
expansion plan despite the country's economic crisis, the company
has said.

The life insurance company has announced that CMG Life will
extend its sales office network during 1999 and will have
representation in 16 cities in Indonesia by the end of the year.

"Colonial Group believes that the Indonesian life insurance
industry has great potential despite the current economic issues
facing Indonesia," said Rob Garnsworthy, managing director of
Colonial International Financial Services.

Astra CMG Life was established in 1992 and has sales offices
in all the country's major provinces. It booked a 55 percent
growth in revenue last year.

At present the company has 315,000 customer relationships
throughout the archipelago, the company said. (hen)