Govt sanctions insurers

Govt sanctions insurers

JAKARTA (JP): The Ministry of Finance announced yesterday that
it has prohibited two insurance companies, PT Maskapai Asuransi
Teladan and PT Maskapai Asuransi Timur Besar, from making new
transactions due to their excessive losses.

"This decision was made to prevent losses to the public," a
ministry statement disclosed yesterday.

The statement, however, did not explicitly say whether the two
insurers were allowed to continue deals with their existing
clients. (hdj)