The Jakarta Post
The State-Owned Enterprises (SOEs) Ministry has appointed three new directors to help lead the ailing state-run insurer PT Asuransi Jiwasraya.
In a letter dated March 18, the ministry appointed Angger P. Yuwono as Jiwasraya’s technical director, R. Mahelan Proboantarikso as compliance and human resources director and Farid Azhar Nasution as finance and investment director.
“The new members of the board of directors in this letter can only carry out their duties after getting approval from the Financial Services Authority [OJK],” said the SOEs Ministry’s acting legal services deputy assistant Rini Widyastuti as quoted by Kontan.
Rini also said that the new directors should ask for a written request from the OJK to conduct an appraisal of them as Jiwasraya director candidates.
The newly appointed directors are familiar names in the finance and insurance industries. Angger was previously a member of the National Social Security Council (DJSN), while Mahelan was previously the strategic, compliance and risk director for state-owned lender Bank Tabungan Negara (BTN) before his role in the bank ended last year.
Farid, who now sits as finance and investment director in Jiwasraya following its investment mismanagement scandal that led to trillions of rupiah in state losses, was previously a high-ranking official in the Deposit Insurance Corporation (LPS). During his stint at that institution, he filled the treasury director post and the international relations director.
The Attorney General’s Office (AGO) has arrested five people in connection with Jiwasraya’s investment-mismanagement scandal, which saw the insurer fail to pay its policyholders’ claims. Among them were former president director Hendrisman Rahim and former finance director Hary Prasetyo.