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Jakarta Post

State capital injection last resort to rescue Jiwasraya: Government

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Wed, February 26, 2020   /  05:30 pm
The Jakarta Post Image
A man displays the Jiwasraya mobile app on his smartphone in Jakarta on Feb. 14. (JP/Jerry Adiguna)

The State-Owned Enterprises (SOE) Ministry has emphasized that a capital injection into state-owned PT Asuransi Jiwasraya would be a last resort in the government's efforts to rescue the ailing insurance company.  The ministry and House of Representatives were discussing several other scenarios to save the insurer from bankruptcy and help it pay its policyholders’ claims, Arya Sinulingga, an aide to SOE Minister Erick Thohir, said on Tuesday.  “The ministry is still devising a plan to save Jiwasraya with a comprehensive plan to improve its fundamentals,” he said in a statement.  He also underlined that talks of a state capital injection were meant to help state-owned insurers in general and not just Jiwasraya, as the ministry aimed to improve the country’s insurance industry's health in the long run.  “We also...