JAKARTA (Yosefardi) – PT Bank Mandiri Tbk (BMRI) will reportedly acquire 50% shares of life insurer PT Asuransi Jiwa InHealth Indonesia. State insurer PT Asuransi Jasa Indonesia (Jasindo) and state pharmaceutical firm PT Kimia Farma Tbk (KAEF) will hold the rest.
Media earlier reported BMRI mulls to acquire a life insurance company in 2014, a program set on its business plan for next year. The bank allocated fund of Rp10 trillion for acquisition this year but the program is not realized.
InHealth, subsidiary of PT Askes, booked net profit of Rp93 billion in first nine months of this year. Its assets totaled Rp1.6 trillion.
Inhealth has paid-up capital of Rp1 trillion and equity of Rp1.57 trillion.