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View all search resultsAIA Financial, CIMB Niaga offer sharia product
JAKARTA: PT AIA Financial in cooperation with PT Bank CIMB Niaga Tbk
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AKARTA: PT AIA Financial in cooperation with PT Bank CIMB Niaga Tbk. launched on Wednesday sharia-based life insurance product Fortuna X-tra Plus Syariah, claiming the product offers maximum protection with optimum investment results for Indonesian customers.
“This bancassurance product is for customers who want to invest as well as get protection,” said Ferdy Sutrisno, CIMB Niaga retail banking and sharia director.
Ferdy said that data from the Association of Indonesian Life Insurance (AAIJ) showed that sharia market penetration in Indonesia was still 2.7 percent, proving that there remained ample opportunity for bancassurance.
CIMB Niaga head of insurance business and retail banking Akhiz Nasution said that the bank expected an additional 20 to 30 percent in premium income every month.
AIA Financial director general counsel Rudi Kamdani said the company received 28 percent of its total premium from sharia-based products in 2010 and expected the figure to increase every year.
