Magazine date:
May 2015 The state company Indonesia Re is expected to start its operations by the end of June 2015.
With a paid up capital of 1.24 trillion IDR (942 million USD ), Indonesia Re is the result of a merger between five local companies: Reasuransi Umum Indonesia (RUI), Reasuransi Internasional Indonesia (ReINDO), ASEI Re, Asuransi Kredit Indonesia (Askrindo) and Reasuransi Nasional Indonesia (Nasre).
The new company aims to increase local market retention capacity.
As a reminder, reinsurance treaties placed abroad accounted, in 2013, for 19.95 trillion IDR (1.64 billion USD) in premiums which is three times the amount invested locally: 6.47 trillion IDR (530.54 million USD).