Panin, Schroder sign deal

Panin, Schroder sign deal

JAKARTA (JP): Publicly listed insurance company Panin Life
signed an agreement with PT Schroder Investment Management
Indonesia on Monday for the joint management of its new
investment linked product.

Panin Life vice president director Tri Djoko Santoso (center)
said in a media conference that the product, Panin Link
Insurance, would be launched at the end of the month.

He said that with a minimum premium of Rp 10 million (US
$1,176) a client could choose between two different life
insurance policies, which would be managed by Panin Life, and
three investment schemes managed by Schroder.

The three investment schemes are the cash fund, the manage
fund and the equity fund, in which the level of risks involved
differ.

Schroder director Michael T. Tjoajadi (right) said a client
could also invest in a combination of the three to minimize
risks.

Djoko said he expected to get some 800 new clients within the
next 12 months, worth Rp 25 billion to the company, in addition
to the existing 12,000 clients. (10)