TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Jiwasraya sends ripples through industry

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Tue, February 18 2020   /  12:20 am

State-owned insurer PT Asuransi Jiwasraya’s investment mismanagement case has had a ripple effect on other companies in the financial industry.Insurance companies, investment management businesses and even cooperatives have been reportedly having liquidity problems after the Jiwasraya revelations.On Feb. 12, privately-owned life insurer PT Asuransi Jiwa Adisarana Wanaartha (WanaArtha Life) issued a letter to its policyholders acknowledging that its securities accounts had been frozen by the Attorney General’s Office (AGO) in connection with the office’s investigation of a corruption case pertaining to Jiwasraya’s fund management.On Jan. 24, the AGO ordered the suspension of 800 securities accounts related to Jiwasraya as part of its ongoing investigation to uncover alleged corrupti...