Erick Thohir Says 99.7 Percent Of Jiwasraya Policy Moves To IFG Life

Jiwasraya (Photo: dock. Antara)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir said he had completed 99.7 percent of the Jiwasraya policy to switch to IFG Life.

Erick said that the Ministry of SOEs managed to completely resolve the PT Jiwasraya (Persero) problem through restructuring, bail in or solving the company's problems by using sources of funding from within the company and transfers.

"Alhamdulillah, we will see together the process of completing the rescue of the Jiwasraya policy with the success rate of approval from policyholders of 99.7 percent," said Erick quoting Antara.

Erick explained that policyholders who approved the restructuring of 99.7 percent consisted of corporations of IDR 19.5 trillion, bancassurance of IDR 10.4 trillion and retail of IDR 8.2 trillion.

"This is not an easy thing, but Alhamdulillah, it is like the initial commitment that the policyholder rescue program is a top priority as a form of protection for Jiwasraya customers," said Erick.

Erick said the BUMN Insurance, Guarantee and Investment Holding or Indonesia Financial Group (IFG) managed to answer the trust in optimizing state capital participation (PMN) to complete the restructuring of the Jiwasraya policy.

He hopes that through IFG Life, he can continue his positive achievements in providing protection to customers.

Based on a report by the Jiwasraya restructuring acceleration team, until December 2023, IFG Life has received a total of IDR 31.16 trillion in funds.

The injection funds came from PMN for the 2021 fiscal year amounting to IDR 20 trillion, PMN for the 2023 budget year IDR 3 trillion, and additional capital strengthening from IFG of IDR 6.7 trillion in 2022 and IDR 1.46 trillion in 2023.

With the total capital injection, IFG Life together with Jiwasraya have succeeded in completing the Jiwasraya policy rescue program, as a form of protection for consumers, especially customers.

The funding commitment in 2024 is IDR 3.56 trillion, which comes from PMN for the 2024 fiscal year is expected to complete the transfer of the remaining policy in Jiwasraya.