Zurich PSP Life opens

Thu, 14 Mar 1996

JAKARTA (JP): PT Zurich PSP Life Insurance Indonesia was launched yesterday with a total paid-up capital of Rp 20 billion (US$8.5 million).

The joint-venture company was inaugurated last night at a ceremony attended by Swiss charge d'affaires, Denis Knobel.

Zurich PSP Life said in a statement that it got final approval last December from the Ministry of Finance to operate as a life insurance joint venture with PT PSP Life Insurance, a member of the PSP Group.

"Zurich PSP Life has recognized the important role it can play in the country and has set its strategic direction to be focused on our clients, employees and the local community," the company's president, Lyndon J. McMullen, said in his welcoming speech.

The company said it has established sales offices in Jakarta, Bandung and Surabaya.(08)

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