TOKYO: Nippon Life Insurance Co says it has agreed to buy a 20% stake in Indonesia’s Sequis Life for 4.87 trillion rupiah (US$423.9mil), joining its Japanese peers who are expanding in rapidly growing South-East Asian markets.
PT Asuransi Jiwa Sequis Life, part of Indonesian conglomerate PT Gunung Sewu Kencana, is a mid-sized life insurer with 2.27 trillion rupiah in gross premiums and 9.19 trillion rupiah in assets in 2013. – Reuters
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
