The Negotiation Progress Of Prospective Wanaartha Life Investors Has More Than 50 Percent

Illustration. (Photo: Unsplash)

JAKARTA - A fresh wind blows for PT Asuransi Jiwa Adisarana Wanaartha (WanaArtha Life) customers. This is because cooperation with new investors who are expected to be able to resolve the default case is already under serious consideration with the management. The progress of the negotiations is now more than 50%.

Director of WanaArthaLife Adi Yulistanto said, although the negotiation process is still ongoing, written documents have already been signed and addressed to arrangers from potential investors. Adi is optimistic that new investors will be announced soon.

"We hope that soon, assuming the documents that have been signed can be responded positively by potential investors, please pray for them," he told reporters, Saturday, July 2.

He conveyed that this process has reached 20 percent if the assumption of the indicator is the total process from the issuance of Lol, the Negotiation Process, Presentation & Inroductary Meeting at OJK, Schemes & Offers, to Realization of Payments.

“However, if the indicator assumption is only the negotiation process so that investors can enter the company, it can be indicated that it is already more than 50%. So, it depends on where we look at it," he said.

Adi also said that payments to Priority Policy Holders had reached around Rp. 1.8 billion. In fact, Wanaartha Life's Director of Operations Ari Prihadi Atmosoekarto added that currently with the 4th wave of payments, it has exceeded Rp3,250 billion.

According to Ari, the company pays policyholders on a priority scale, which is related to humanity, such as death, accident or illness. Priority policyholders have now been paid almost 300 times in four waves.

Regarding new investors, his party is still finalizing the agreement with the investment broker.

"There is still one point that has not been agreed, we have been discussing it continuously, Monday night we are still in communication. The point is related to the obligation to have a success fee. So, if everything goes in, that's okay, it's normal that there is a success fee. But if it's not a goal, then yes , if there are other investors who want to enter, that's fine," he said on a separate occasion.

He said that there were still two other potential investors. However, the coordination process is not yet intense. Meanwhile, specifically, one potential investor who is currently in the process with his party has been coordinating for a long time.

Regarding the police investigation of the old WAL management, Ari said it was related to mismanagement.

"But it still needs to be proven by law enforcement, at this time we continue to fix it. But we also need a lot of big funds, investor funds are needed to fix this," he said.

Recently, Wanaartha Life has often stated that it is negotiating with at least 3 potential strategic investors, including those from abroad.

In a number of media reports in early June 2022, a potential investor from Singapore was mentioned as interested by Kukuh K. Hadiwidjojo, a health consultant for Wanaartha Life. Potential investors from Singapore are companies engaged in insurance technology (insurtech).