RI-Australian insurer

RI-Australian insurer

JAKARTA (JP): The Ministry of Finance has approved the
establishment of an Australian-Indonesian joint insurance venture
called PT Asuransi QBE Pool Indonesia, The Australian embassy
said here yesterday.

QBE Pool is 70 percent owned by QBE Insurance, one of
Australia's largest insurance groups, and 30 percent by
publicly listed PT Pool Asuransi Indonesia.

The embassy said that the joint venture, with a paid up
capital of Rp 15 billion (about US$68 million), will concentrate
on meeting the insurance needs of small and medium size
Indonesian companies, private individuals and Australian
companies operating in or trading with Indonesia.

QBE Pool's head office will be located in Muara Karang, North
Jakarta, and the company will be opening branches in other major
Indonesian cities as soon as it is permitted under the local
insurance regulations. (hdj)