JAKARTA. FWD Management Holding, an insurance company from Hong Kong, raises its ownership portion in PT Asuransi BRI Life (BRI Life) to 43.96%.

“FWD has initiated capital increase in BRI Life of 269,946 shares through new shares’ issuance,” said Agustya Hendy Bernadi, Corporate Secretary of BBRI, in a letter signed on March 5, 2024.

For context, FWD entered BRI Life in March 2022. At that time, FWD owned 1,192,007 shares or 35.14% of the shares. With this raise, FWD now collects 1,725,533 shares of BRI Life, which are equal to 43.96%. Meanwhile, other shareholders consist of BRI, with 2,002,022 shares or 51%, and Yayasan Kesejahteraan Pekerja BRI with 197,978 remaining shares, or 5.04%.

“In regard to the capital increase [of BRI Life], the company remains as the controlling shareholder and the consolidation holder of BRI Life,” Bernadi reaffirmed.

Further, Bernadi said that the portion increase in BRI Life by FWD took place on March 1, 2024. Next, with the equity increase, lies an expectation of business improvement of this life insurance company. “The transaction is carried out in order to support business development of BRI Life to achieve its aspiration to provide an integrated financial service for people,” he explained. (PP/ZH)