Will Maybank’s 60% Share Acquisitions Anugrah Life Insurance

The financial services company based in Malaysia, Mazybank will acquire 60% stake in PT Anugrah Life Insurance, a subsidiary of PT Panin Life, Tbk. Memorandum of Understanding (MoU), said President Director of PT Panin Life Tbk, Dawn Gunawan in Jakarta on Friday (30 / 1), has been signed by both parties in Jakarta, today (30 / 3).

Dawn said, Panin has in addition a subsidiary of PT Anugrah Insurance, also has a subsidiary of Panin Bank, one of the 10 largest banks. The MoU signing was held in Jakarta, added Vice President Director Panin Life Tridjoko Santoso, conducted by the President and CEO of Maybank, Amirsham A Aziz, and President Director Fadjar Gunawan.

Tri Djoko added, with the existence of a strategic partnership that Grace can now pocket the paid up capital of Rp40 billion, where 60% held by Maybank and the rest is owned by Panin and Grace. After some sahamhya owned by foreign investors, he said, the company will concentrate on marketing the products through banks / bancassurance and market Islamic products. “Maybank already has experience in Islamic products to market in several countries,” said Tri Djoko.

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