Reasuransi Indonesia Utama (Persero), PT (Indonesia)

PT Reasuransi Indonesia Utama (Persero) or refer to as Indonesia Re was established on November 30, 1985 under the name PT Asuransi Ekspor Indonesia (Persero). The company is engaged in insurance to support the development of non-oil and gas export. In 2013, the Ministry of State-Owned Enterprises set up a National Reinsurance Company to cope with the high payment of reinsurance premiums to overseas companies. Thus PT Asuransi Ekspor Indonesia (Persero) appointed to be the National Reinsurance Company with core business of reinsurance. After the turnaround of the company’s business, PT Asuransi Ekspor Indonesia (Persero) transformed or changed its name to PT Asei Reasuransi Indonesia (Persero) or Asei Re. On the discourse of merging the reinsurance companies by the Ministry of State-Owned Enterprises, on December 22, 2014, Asei Re then changed its name to PT Reasuransi Indonesia Utama (Persero) or Indonesia Re. Continuing the merger process, on June 23, 2016 at the Ministry of State-Owned Enterprises, the signing of the merger deed of PT Reasuransi Internasional Indonesia (ReINDO) into Indonesia Re was held. In connection to the merger, ReINDO will transfer all conventional reinsurance portfolio to Indonesia Re without any pre-liquidation process. Indonesia Re, which shares are 100% owned by the Government of the Republic of Indonesia, as of December 31, 2018 employed 574 people.