Ometraco forms venture

Ometraco forms venture

JAKARTA (JP): General Accident Asia Ltd., formerly New Zealand
Insurance, and PT Ometraco Arthaguna announced yesterday they
would form a joint venture insurance company.

They envisage the joint venture, PT Asuransi General Accident
Ometraco, will begin operating on Jan. 2 next year.

Ometraco stated the joint venture would be 60 percent owned by
General Accident Insurance Ltd., and 40 percent by PT Ometraco
Arthaguna.

The joint venture would have paid-up capital of Rp 15 billion
(US$6.25 million). (hen)