Principal, Nippon tie up

JAKARTA (JP): Principal Egalita Indonesia and Nippon Life announced a strategic alliance yesterday to provide value added service to its customers in Indonesia.

The company said the alliance was an extension of the arrangement between The Principal Financial Group, Des Moines, Iowa, and Nippon Life Insurance Company of America.

The company said the alliance would allow Principal to provide administrative support to Nippon Life's pension fund, group life and medical policyholders.

Principal Egalita Indonesia is now selling its products to Japanese companies operating in Indonesia.

These products include annuity, group term life insurance, and group medical and financial institution pension funds. (aly)