IFG Life Has Paid IDR 17.8 Trillion For The Jiwasraya Customer Policy Throughout 2024

JAKARTA - PT Asuransi Jiwa IFG (IFG Life) announced that it has paid claims and insurance benefits from Jiwasraya's policies that have been transferred to IFG Life amounting to IDR 17.8 trillion throughout 2024.

"As of December 31, 2024, we have fulfilled our obligation to pay claims and insurance benefits for IFG Life customers who came from Jiwasraya amounting to Rp17.8 trillion. We fulfill all promises to policyholders," said the President Director of PT Asuransi Jiwa IFG Budi Tampubolon at the DPR RI Commission VI hearing, in Jakarta, Thursday, February 6.

For your information, IFG has received all policy transfers and assets from Jiwasraya and Funding from IFG. The total policy transferred from Jiwasraya to IFG was recorded at 314,071. Where the liabilities reached Rp38.08 trillion.

IFG also received total assets and funding from Jiwasraya amounting to Rp45.34 trillion. The assets consist of financial assets of Rp5.10 trillion. Then, assets in the form of land and buildings worth Rp5.44 trillion and other assets Rp0.09 trillion. There is also funding assets from State Investment (PNM) amounting to Rp34.71 trillion.

"IFG Life is committed to continuing policy management that has been transferred from Jiwasraya and has carried out its obligation to pay benefits as stated in the policy," said Budi.

Previously, it was reported that the Ministry of SOEs recorded the number of policyholders, who had participated in the restructuring program of PT Asuransi Jiwasraya (Persero) until the end of November 2024, reaching 314,322 policies or 99.9 percent of the total Jiwasraya policy.

This number consists of 5,688 policies from the corporate category, 291,300 from the retail category, and 17,334 policies from the bancassurance category.

"If calculated, the Jiwasraya restructuring program has saved more than 2.4 million people, who are Jiwasraya insurance participants," said SOE Minister Erick Thohir, quoted from Antara, in Jakarta, Tuesday, December 10.

Following the achievement of the Jiwasraya restructuring program, Erick expressed his gratitude to policyholders who have been willing to participate in the restructuring program, where currently the policy has been moved and managed by IFG Life.

He also appreciated the regulators to policy makers who have worked hard and jointly coordinated to solve the problems in Jiwasraya.

"Hopefully this rescue effort will be interpreted as a commitment as well as concrete evidence of the government in improving and nourishing the financial industry in Indonesia," said Erick.