The collaboration was formalized with the signing of a memorandum of understanding (MoU) in Jakarta on May 15 with a mission of enhancing risk management practices within Indonesia’s SOEs.

The signing was attended by IFG business director Pantro Pander Silitonga, Jasindo president director Andy Samuel, operational director Ocke Kurniandi, Jasindo strategic business director Syah Amondaris, as well as Swiss Re head of public sector solutions Asia Pacific Lubomir Varbanov, Swiss Re head public sector solutions Asia ex China Swiss Re Wilfrid Goh and Swiss Re senior client manager public sector solutions Southeast Asia Anna Chieng.

Pantro explained that IFG as a holding company had been committed to helping Jasindo strengthen its role as a risk management partner and reinforcing its position in the sector. Partnering with industry leaders like Swiss Re was part of its strategic move to leverage their extensive expertise in risk assessment. The partnership also aims to foster sustainable growth and operational resilience among SOEs by providing more comprehensive and effective risk mitigation services.

“This strategic move marks a new milestone for IFG’s role as a SOE holding, spearheaded by Asuransi Jasindo. Not only does it operate as an insurance provider, but it also serves as a strategic partner in operational risk management for SOEs, thereby fostering sustainable growth within the sector,” said Pantro.

Pantro further elaborated that the partnership with Swiss Re would assist Asuransi Jasindo in better identifying and addressing the protection gap by developing relevant risk mitigation and/or risk transfer solutions. This will in turn optimize, streamline and broaden the scope of risk management in SOEs.

As a member of the IFG holding supported by Swiss Re, Asuransi Jasindo can now provide ample capacity support to ensure optimal protection within the SOE ecosystem.

Asuransi Jasindo’s Ocke was pleased with the partnership and anticipated the positive impact it would have on the firm’s risk management. The partnership aims to bolster Jasindo’s role not only as an insurance service firm, but also as a stalwart provider of sustainable risk management practices.

The company is committed to continued transformation, ensuring sustainable business growth and delivering greater added value to all stakeholders, particularly business partners who rely on Jasindo’s protection services.

“This collaboration is expected to empower Asuransi Jasindo and allow it to operate more sustainably while bolstering its ability to safeguard SOEs against mega risks. We are looking forward to learning from Swiss Re’s expertise in risk management in this partnership,” said Ocke.

Swiss Re’s Varbanov said: "A comprehensive and detailed risk awareness, combined with good loss prevention/mitigation and finally risk management/transfer, can enable SOEs to enhance their effectiveness, sustainability and contribution to Indonesia’s continued rapid development. This is an area where we are especially excited about the value-add that Swiss Re can contribute to this strategic partnership."

Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk, from natural catastrophes to climate change, from aging populations to cybercrime. The aim of Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, Swiss Re Group operates through a network of around 80 offices globally.

Popular

Furniture exporters decry new quarantine rule

EV industry urges govt to reinstate two-wheeler subsidies as market slows

BRICS shows internal rifts as ministers fall short of joint statement