JAKARTA (Yosefardi) – Deutsche Investitions-und Entwicklungsgesellschaft (DEG) mbH will divest 23% shares of life insurer PT Avrist Assurance as DEG to focus on other business.
As a result, local company PT Bina Asetanusa will control 64.93% stake in Avrist. Other shareholders are Meiji Yasuda Life Insurance Company (29.87%) and PT Bina Dana Hahade (5.2%).
Avrist booked gross premium income of Rp1.4 trillion in 2013 with assets reaching Rp10 trillion. Its equity was Rp2 trillion. For this year, it targets gross premium to grow by 30-35%.