Aseana Insurance acquires majority stake

JAKARTA – Aseana Insurance Pte Ltd concludes the acquisition of 62.33% of shares of Mapre Internacional SA in PT Asuransi Bina Dana Abadi Tbk (ABDA) worth IDR 885.67 billion.

In the information disclosure quoted Friday (2/9), Ratih Kusumadilaga, Corporate Secretary of ABDA, confirmed that Aseana’s portion in the company has risen to 87.18% post transaction. “Prior to the completion of this transaction, Aseana’s ownership only clocked up to 24.85% or 154,273,041 shares of the entire shares issued by the company,” she explained.

After this transaction, Aseana claims another 386,924,893 shares, bringing its portion up to 541,197,934 shares of the total issued shares of ABDA.

Aseana Insurance, a subsidiary of the Singapore-based company Aseana, operates under the ownership of Warburg Pincus LLC and its affiliates. Aseana has an impressive issued and paid-up capital of USD 178.59 million, which comprises 178,592,601 common shares and preferred shares valued at USD 1 per share.

It is known for its comprehensive range of insurance products and services. With a strong capital base, the company is well-positioned to provide reliable coverage and financial security to its clients. Whether it’s life insurance, property insurance, or general insurance, Aseana Insurance offers tailored solutions to meet the diverse needs of individuals and businesses.

As part of the Aseana group, the insurance arm benefits from the extensive expertise and resources available within the larger organization. This enables Aseana Insurance to stay at the forefront of the insurance industry, adapting to evolving market trends and regulations.

With its solid financial foundation and commitment to customer satisfaction, it continues to establish itself as a trusted provider in the insurance sector. By offering innovative products and excellent service, the company aims to build lasting relationships with its policyholders, ensuring their peace of mind and protection against unexpected events.