Asia Sentinel

Asia Sentinel

Indonesia Insurance Sector Dangerously Close to Imploding

Trouble at two firms may signal wider problems for industry, government

John Berthelsen's avatar
John Berthelsen
Jan 20, 2020
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The disaster suffered last week by two state-backed Indonesian insurance companies has its roots in a largely corrupt and unregulated financial sector dominated by Suharto-era tycoons who have lost millions of dollars through financial mismanagement, raising concerns that widespread insurance failures may follow. 

Five suspects have been arrested in the …

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