As the Indonesian government begins to implement its JKN universal health insurance scheme, some hospitals and health advocates question if the policy is financially viable.

Aviva Indonesia is introducing an International Health Insurance product offering to the Indonesian market in response to a growing number of expats and well heeled local Indonesians. The portfolio offers international health insurance coverage with limits between US$1-2 million, depending on the product, and will allow holders of a policy to travel internationally in order to receive qualifying…

Swiss global insurance giant, Zurich, is on a profitable track this year, with positive results coming in from the First Quarter reports.
The group reported a total business operating profit of US$ 1.4 billion for the First Quarter of 2012 with an operating profit increase in the General Insurance sector of US$ 567 million to US$ 856 million.
It appears that Zurich may be overcoming difficulties…

A massive undersea earthquake registering a magnitude of 8.6 struck off the coast of Indonesia's Sumatra Island yesterday, causing tremors in nearby provinces and countries and triggering tsunami warnings across the Indian Ocean. Although the incident now appears to have produced little in terms of property damage or any casualties, insurers have once again been reminded of the sizeable risks that…

Indonesia-based joint venture life insurance company, CIMB Sun Life, has been honored as "Best New Company of the Year" by the International Business Awards, also known as the Stevie Awards. CIMB Group, a universal bank in Southeast Asia headquartered in Malaysia, and Sun Life Financial created the Indonesian-based joint venture CIMB Sun Life which started operations in July 2009. The joint…

After having established a dedicated health insurance operation in Asia, AXA PPP International is now in the process of revamping its distribution network to increase their capabilities in the region. Teaming up with AXA Asia General Insurance (AGI), their partnership aims to increase the volume of business for both life and general insurance in Singapore, Malaysia, Indonesia, Thailand, Hong Kong and China, places where AXA has already established a presence.

Allianz Group is set to move regional CEOs around the world, reorganizing the upper management due to the departure of Massimo Michaud, the previous Chief Executive Officer of Allianz Italia S.p.A. The vacancy at the top of Allianz Italia will be filled by George Sartorel, who is currently the Chief Executive Officer of Allianz Turkey. Sartorel will be succeeded in Turkey by Mr. Alexander Ankel,…

Alan Merten has been appointed by Manulife Financial Group as the new Chief Executive Officer and President Director of PT Asuransi Jiwa Manulife Indonesia  (Manulife Indonesia). Alan Merten has over 20 years of experience working with life insurance, international health insurance, wealth management and pensions. His new position will see him take responsibility for growing Manulife Indonesia's…

Zurich Financial Services Group subsidiary, Zurich Insurance Co., has bought a majority stake in Indonesian life insurance company, PT Mayapada Life. Zurich Insurance has agreed to buy an 80% stake in Mayapada Life from its parent company, Mayapada Group, for an undisclosed amount. The deal is expected to close in the third quarter of 2010, subject to regulatory approval. Mayapada Life had gross…

UK based international insurance company Aviva plc has come to an agreement with PT Asuransi Wahana Tata to purchase a 60% share of PT Asuransi Winterthur Life Indonesia (WLI). This is the first time Aviva has entered the Indonesian market and comes amidst heightened global interest in the Asian insurance industry. Once the deal is finalized and Indonesian regulatory approval is given for the venture,…