Indonesia’s Ministry of State-Owned Enterprises will transfer policies worth IDR38 trillion (US$2.4 billion) in the “biggest restructuring ever in the history of Indonesia's insurance industry.”
The industry has faced an economic downturn and been embroiled in scandals, but steady growth should be supported by inflation and nat cat protection appetite.
The deal, which still needs to go through approvals, comes two days after rival CTBC tried to steal a march on the pair by announcing a takeover bid of Shin Kong.
