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)