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International

Indonesia looks to infuse $75 million into new state-owned reinsurer

May 26, 2015 Reprints

Wahyu Kuncoro, an official at Indonesia's Ministry of State Owned Enterprises, has said that the government is looking to increase capacity of new state-owned reinsurer Indonesia Re through a state capital injection program in 2016, reports The Jakarta Post.

"The ministry plans to inject around 1 trillion Indonesian rupiahs ($75.8 million) worth of capital into Indonesia Re," said Mr. Kuncoro, adding that, "the higher capital will give it leverage to handle domestic reinsurance needs."

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Indonesia looks to infuse $75 million into new state-owned reinsurer

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