Insurance venture set up

Insurance venture set up

JAKARTA (JP): Prudential Corporation Plc., one of the top ten
international insurance companies, has set up a joint venture
life insurance company with Bank Bali with a paid up capital of
Rp 10.5 billion (US$4.6 million).

The joint venture, called Prudential BancBali Life Assurance,
is 80 percent owned by Prudential with the remaining 20 percent
held by Bank Bali.

The new insurance company was inaugurated yesterday by
Director General of Financial Institutions Bambang Subianto.(10)