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)