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Indonesia mulls reducing foreign ownership in local insurers

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Mukhamad Misbakhun, member of Indonesia's lower house, has called for a more aggressive limitation of foreign ownership in local insurers from the current 80% cap to safeguard the economic sovereignty in the sector, Indonesia Expat reported. However, Sri Mulyani Indrawati, Indonesia's finance minister, said that the current cap on foreign ownership can boost the insurance industry's capital strength and potentially bring a positive impact to the economy.

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