ACE Limited has announced that the firm has acquired 80% of PT Asuransi Jaya Proteksi in Indonesia.
Asuransi Jaya Proteksi, which is based in Jakarta, is one of Indonesia’s leading general and personal lines insurers, and offers property, motor, accident, health and commercial insurance.
ACE Asia Pacific Regional President Damien Sullivan said that the firm was pleased to complete the transaction, which diversifies the firm’s business in Indonesia as well as expanding its accident and health, and commercial property and casualty businesses.
Sullivan added that the country’s strong demographic and economic trends were ideal for sustained growth for general and life insurance businesses.
The ACE Group is a worldwide firm, operating from 53 countries and providing a broad range of insurance and reinsurance to a diverse group of clients.
Category: Insurance News