Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in its books. PT Asuransi Jiwasraya has …
With Indonesia’s oldest life insurer tottering on the brink of collapse following years of alleged mismanagement, authorities plan to tighten surveillance of the industry by overhauling regulations and setting up a rescue agency. The government plans to draft an omnibus …
Indonesia will appoint state financial firm PT Bahana Pembinaan Usaha Indonesia as a holding company for state insurers to improve their finances, a deputy minister said on Thursday, as the government puts together a rescue plan for a second troubled …
Policyholders at Indonesia’s state-owned PT Asuransi Jiwasraya are looking to the government to rescue the scandal-hit insurer, which has uncovered a $2 billion hole in its books. The crisis affects 17,000 buyers of investment products and 7 million clients, and …
Apollo Global Management LLC’s dual stakes in an insurer and the largest operator of U.S. casinos are drawing scrutiny by New York’s top financial regulator, who doesn’t want policyholders exposed to the gambling firm’s debt, a person briefed on the …
