JAKARTA. PT Bahana Pembinaan Usaha Indonesia (Persero) or known as Indonesia Financial Group (IFG) ensures that PT Bank Mandiri (Persero) Tbk remains a minority shareholder in PT Asuransi Jiwa Inhealth Indonesia (Mandiri Inhealth).

IFG President Director Hexana Tri Sasongko said there is still a portion of Inhealth shares controlled by Bank Mandiri. "Mandiri [maintains ownership] 20%," said Hexana, Monday (26/2/2024).

As previously reported, IFG through its subsidiary IFG Life will acquire 70% of Mandiri Inhealth shares. With the additional portion of the acquisition, IFG's ownership in Mandiri Inhealth increased to 80%.

Before the acquisition took place, Mandiri Inhealth's shareholders consisted of IFG with 10%, Bank Mandiri 80%, while the other 10% was owned by PT Kimia Farma Tbk (KAEF). "[With] a portion of InHealth shares controlled by Bank Mandiri, we maintain the synergy with the Bank Mandiri ecosystem that has been established," he explained.

With this composition, InHealth's shareholder structure after the acquisition will be IFG Group 80%, and Bank Mandiri (20%).

Hexana said that as an insurance and guarantee holding, it has a diverse line of business. The acquisition of a life insurance company is needed to answer research conducted by his party that Indonesians increasingly need health insurance. 

"To develop life and health insurance in IFG Life, we need to acquire InHealth. This is in line with research that Indonesians increasingly need health insurance," he said.

He mentioned that in the short and medium term, Inhealth Insurance will be placed as a subsidiary of PT Asuransi Jiwa IFG (IFG Life). While in the long term the holding is also considering a merger of the two entities.

As reported in today's announcement, Monday (26/2/2024), Bank Mandiri and PT Kimia Farma Tbk (KAEF) are said to have sold a 70% stake in Mandiri Inhealth to PT Asuransi Jiwa IFG (IFG Life).

With this disposal, Bank Mandiri after the acquisition is completed will no longer consolidate Mandiri Inhealth's assets and profits even though it still owns a small portion of the company's shares. (PP/LM)