(The Insurance Business Asia)
FWD Group has completed its acquisition of a significant minority stake in PT Asuransi BRI Life, the insurance arm of Bank Rakyat Indonesia (BRI).
Following the investment, which was first announced in June 2020, BRI Life has entered into a long-term life insurance distribution agreement with BRI.
According to a statement by FWD, the investment and partnership will bring insurance to more customers in the highly underpenetrated, rapidly growing market of Indonesia. BRI Life will be able to leverage FWD’s digital infrastructure and expertise and help boost wider financial inclusion.