0.3 Percent Remaining, IFG Boss Asks Jiwasraya Customers To Participate In Policy Restructuring

Jiwasraya (Photo: dock. Antara)

JAKARTA - Deputy President Director of Indonesia Financial Group (IFG), Haru Koesmahargyo invites PT Asuransi Jiwasraya (Persero) customers who still reject the restructuring offer to reconsider the offer.

So far 99.7 percent of Jiwasraya policyholders have agreed to participate in the restructuring. This means that there is still 0.3 percent of customers who still reject the blessing offer.

"We really hope that people who have policies will participate, so they can move (the police to IFG Life)," Haru said in a discussion on Strengthening SOEs Towards Golden Indonesia in Sarinah, Jakarta, Tuesday, October 8.

Haru admitted that Jiwasraya's assets were unable to support customer claims payment obligations. According to Haru, initially the policy value of all Jiwasraya customers was around Rp. 38 trillion. However, due to various problems, the remaining assets that could be used to support policy claims were only Rp. 9 trillion.

Furthermore, Haru said that the difference between assets and policies was then closed by the state budget through State Capital Participation (PMN) worth Rp. 26.5 trillion to IFG Life to accommodate Jiwasraya customers who were willing to transfer their policies and be restructured.

"Our manager through IFG restructures, we save policyholders even though Jiwasraya will eventually be closed, but we save customers," Haru said.

According to Haru, Jiwasraya still has assets to pay claims for customers who refuse restructuring. However, he admitted, the process would take a long time because it had to go through liquidation.

"There are still left behind, are there any assets? I'm sure there are, only how much is the right number to answer is from Jiwasraya," Haru said.

However, Haru admitted that he did not know the details of the value of assets and so on. This is because Jiwasraya is not part of the IFG Holding.

"Jiwasraya is not part of IFG, as an organization we save policyholders," he said.

Haru explained that if later entering the liquidation stage, Jiwasraya must also fulfill its obligations to employees. He also said that now Jiwasraya has restricted business activities or PKU, so the process will be disbursed by its business license.

"This year, yes. After that is finished, it will be included in the liquidator team who will take care of the remaining assets, including those who are the rights of policyholder employees and others," Haru said.