IFG Life Business Expansion Holding, One Of Them Will Caplok Mandiri Inhealth

Photo: Doc. Antara

JAKARTA - The insurance, guarantee and investment BUMN Holding, Indonesia Financial Group (IFG) is expanding the IFG Life business so that it can become the largest life insurance company, one of which is by acquiring Mandiri Inhealth.

"It's still a process, yes (Mandiri Inhealth acquisition) is for strengthening, because it is hoped that IFG Life will become the largest life insurance company (the soul), so that's one for the expansion of IFG Life's business," said IFG Corporate Secretary Oktarina Dwidya Sistha, quoted from Antara, Saturday, March 30.

However, he said that his party could not provide further information whether the IFG would acquire 100 percent or only 70 percent of the Mandiri Inhealth portfolio.

Furthermore, he said that in addition to strengthening IFG Life, his party would also increase the business of two other IFG subsidiaries, namely Askrindo and Jamkrindo. It is planned that IFG will use the State Capital Participation (PMN) allocation of IDR 3 trillion to strengthen the two subsidiaries.

IFG and its subsidiaries also carry out various transformations, initiatives, and other innovations such as developing new virtual joint venture schemes, optimizing non-assuming businesses, strengthening risk management, and supporting the electric vehicle ecosystem by providing EV charging.

According to him, these various business improvement efforts aim to make IFG the leader of the market or market leader in the national Non-Bank Financial Industry (IKNB).

"As a financial conglomerate in IKNB with 16 holding members, we are optimistic that we can continue to contribute to the transformation and progress in order to build the trust of the Indonesian people and become a market leader in IKNB, especially in the fields of insurance, guarantee and investment in Indonesia," said Oktarina.

He said that IFG is also determined to become a market leader in the non-sophisticated insurance business (non-life), general insurance, and asset management.

For this reason, he stated that the IFG is now focusing on strengthening reserves, improving business models and processes in holding members, implementing centralized guarantees, strengthening and implementing culture and risk management (risk culture and management), as well as optimizing human resources and technology.

The purpose of the IFG standing is to create positive synergies among the groups. So it is hoped that by creating this synergy, IFG can be one of the main factors in creating IKNB in a healthy and sustainable Indonesia," said Oktarina.