Indonesia’s State Own Enterprises (SOEs) ministry is planning to merge three reinsurance companies to create an entity with a combined capital of Rp 10 trillion ($714.29 million) by 2017.
As a first step, the ministry approved the merger of PT Reasuransi Umum Indonesia (RUI) into PT Reasuransi Indonesia Utama (RIU). The new entity will manage two subsidiaries, general insurance PT Asuransi Asei Indonesia and PT Reindo Syariah.
