Great Eastern sells 5% stake in Indonesian insurer

Posted On: May. 3, 2019 5:58 AM CST

Singapore-based insurer Great Eastern Holdings Ltd. has sold 5% of its stake in PT QBE General Insurance Indonesia to Indonesia-based PT Suryasono Sentosa for $1.4 million, The Business Times reported. Great Eastern Holdings said that it sold the stake to comply with Indonesian shareholding requirements. The insurer will continue to hold the remaining 95% of stake in PT QBE General Insurance.