Eka Life launches Excellink

Eka Life launches Excellink

JAKARTA: Eka Life insurance, a joint venture between Sinar Mas
Group of Indonesia and Ayala Group of the Philippines, launched
on Monday a new life insurance product that combines protection
and investment services.

CEO Willy Nusantara told a press conference that the new
product, called Excellink, offers insurance coverage for death
caused either by illness or accidents and benefits from the funds
invested in various investment products with a tenure of 18
years.

Just like savings in banks, policy holders are free to
increase or withdraw their funds anytime, he said.

He said the introduction of Excellink was expected to help
increase the company's premiums income from over Rp 150 billion
(US$ 16.67 million) as of the start of this year to Rp 400
billion as of the end of the year.

"We hope we can generate Rp 150 billion in premiums from
Excellink alone," he said.

Eka Life, whose risk-based capital reached 129 percent as of
last December -- far higher than the 75 percent required by the
government -- now operates 60 branches throughout the country and
hires about 3,000 employees. --JP