IFG Life Changes Board of Directors after Acquisition of Mandiri Inhealth – 2024-07-04 15:10:58

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PT Bahana Pembinaan Usaha Indonesia or Indonesia Financial Group (IFG) and PT Bahana Kapital Investa as shareholders of PT Asuransi Jiwa IFG (IFG Life) have reshuffled the board of directors of IFG Life following acquiring Mandiri Inhealth.

The decision is stated in the Copy of the Circular Decision of the Shareholders of PT Asuransi Jiwa IFG Number: 11/KepSir-PS/BPUI/VI/2024 and Number: 009/BKI/06/2024 concerning the appointment of Budi Tua Arifin Tampubolon as President Director of PT Asuransi Jiwa IFG.

In addition, changes were also made to almost all positions, namely director of compliance and risk management, director of operations, director of individual business, director of corporate business, director of finance, and director of investment.

Indonesia Financial Group/IFG Corporate Secretary Oktarina Dwidya Sistha said the change in the board of directors is a form of IFG’s commitment as a holding company in improving performance, governance, and risk management. This is done to ensure that the business line strategy runs well and sustainably.

“We fully support the performance of the current IFG Life board of directors to bring positive changes to the company in the insurance industry and make a real contribution to society. With the current composition of the board of directors, we hope that IFG Life can continue to expand the scope of protection-based insurance business in meeting the needs of community insurance products and services, and become a company that grows healthier, bigger, and more sustainable,” said Sistha in a written statement.

As is known, IFG Life has completed the acquisition of Mandiri Inhealth shares and confirmed its position as the majority owner of 80% of the shares. The corporate action is an important stepping stone for IFG Group in the development of IFG Life in the future.

With this corporate action, IFG Life will become a leader in protection-based life and health insurance with the largest APE in the industry with an Annualized Premium Equivalent (APE) of IDR 1.7 trillion in Q1 2024. (Ant/Z-11)