JAKARTA. Ministry of State-Owned Enterprises (BUMN) finally appointed PT Bahana Pembinaan Usaha Indonesia (BPUI) as the parent of state-owned insurance holding. The formation of the holding is targeted to be completed in September or no later than October.
This appointment is said to have been done after a thorough study. The study involved several institutions, namely Ministry of BUMN, Directorate General of State Assets (DJKN) of the Ministry of Finance, and the appointed consultant.
Head of Communication and Information Services Bureau of the Ministry of Finance, Nufransa Wirasakti explained that the parent of the holding must be 100% owned by the state to avoid potential dilution of share ownership of all holding members.
"We also pay attention to the regulation of the Single Presence Policy related to the maximum holding ownership in each type of insurance company as stated in Law Number 4 of 2014 concerning Insurance, article 16 paragraphs 1 and 2," said Nufransa.
The appointment also considers financial capacity and liquidity, so that it is expected to be able to raise funds to cover the capital needs of holding members. In addition, it must have adequate information technology that can integrate the system between all members of the holding and form a large data insurance ecosystem. (AM/AR)