BUSINESS,- The Financial Services Authority (OJK) provides the Implementation of Business License in the Field of General Insurance to PT QBE General Insurance Indonesia.

The application of the Business License is determined through the Decision of the OJK Board of Commissioners Number KEP-276 / NB.11 / 2019 dated May 17, 2019.

The business license was granted by OJK after PT QBE General Insurance Indonesia changed its name to PT Great Eastern General Insurance Indonesia. The name change was based on letter number 045 / PD / L / 05019 dated seven May 2019.

Also, included were supporting documents related to the change of name of the company, 15 May 2019. The name change is contained in the deed of The statement of Shareholders’ Decree.

Then the Articles of Association of PT QBE General Insurance Indonesia Amendment to becoming a Great Eastern General Insurance Indonesia. The deed is stated in number three dated two May 2019.

The Amendment

The amendment deed was made before Jose Dima Satria SH, M. Kn, notary in South Jakarta.

The amendment has been approved by the Minister of Law and Human Rights. This is based on decision of AHU-0023768.AH. 01. 02.TAHUN 2019 dated May 2, 2019.

The enactment of the business license of PT Great Eastern General Insurance Indonesia is valid from the date of the decision of the Board of Commissioners.

PT Great Eastern General Insurance Indonesia is required to implement sound business practices and refer to applicable laws and regulations.

QBE Shares General Insurance Indonesia Mastered by Great Eastern

 (straitstimes.com)

Great Eastern General Insurance Limited has finally completed the acquisition of PT QBE General Insurance Indonesia. The announcement was delivered by Great Eastern Holdings Limited, the holding company of Great Eastern General Insurance Limited, Friday (03/05/2019).

After being acquired, Great Eastern controls 95 percent of PT QBE General Insurance Indonesia. While five percent of the shares are owned by PT Suryasono Sentosan.

The CEO of Great Eastern Holdings, Khor Hock Seng, assessed that the addition of the general insurance business is in line with the business strategy of the company.

He explained the importance of developing a business in Indonesia. The reason is, said Khor Hock Seng, because Indonesia is the country with the largest economic growth and also the fastest in ASEAN.

According to him, Indonesia is the engine of growth for the Great Eastern Group. And Indonesia presents attractive opportunities for it.

Khor Hock Seng hopes that his party and business partners and holding company, Bank OCBC NISP, can provide a comprehensive range of insurance solutions. ***

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