Indonesia Re to keep ceded premiums local
Saturday, 04 25 2015, Category: Insurance and Reinsurance, Country: Asia
Indonesia Re, the giant reinsurer established by the Indonesian government, is on the edge of transformation as it takes on the task of redirecting a majority of reinsurance premiums ceded offshore back to the domestic market. Frans Sahusilawane, the newly appointed president director of Indonesia Re, admitted the task ahead is enormous as the market is looking at bringing back a portion of around 19 trillion rupiah (US$1.4 billion) of reinsurance premiums currently being ceded offshore.
Source: A. M. Best