JAKARTA – The Financial Services Authority (OJK) issued permits to three insurance company consortiums regarding the marketing of construction surety bonds. The companies included in the said consortiums had met the minimum solvability ratio, investment adequacy ratio, liquidity ratio, and equity, which were based on the credit and surety insurance business line requirements.
In a press release by OJK, quoted on Tuesday (9/11), the permitted consortiums include the consortiums of project guarantor, surety bond guarantor, and Indonesia guarantor. As stated in the Regulations of Minister of Finance No.124/PM.010/2008 concerning the Credit and Suretyship Insurance Business Line, the company must have its lowest liquidity level at 150% and experience as an underwriter for at least three years.
The Project Guarantor Consortium consists of six companies. They are PT Asuransi Sinar Mas, PT Asuransi Central Asia, PT Asuransi Asei Indonesia, PT Asuransi Binagriya Upakara, PT Asuransi Bangunan Askrida, ans PT Jaminan Kredit Indonesia.
The Surety Bond Guarantee is made up of PT Asuransi Jasaraharja Putera, PT Asuransi Kredit Indonesia, PT Asuransi Wahana Tata, PT Asuransi Astra Buana, PT BRI Asuransi Indonesia, and PT Asuransi Bintang Tbk.
Lastly, the consortium of Indonesia Guarantors comprises PT Asuransi Jasa Tania Tbk, PT Asuransi Tugu Pratama Tbk, PT Bosowa Asuransi, PT Asuransi Umum Bumiputera Muda 1967, PT Asuransi Maximus Graha Persada Tbk, PT Asuransi Bhakti Bayangkara, PT Asuransi Mega Pratama, and PT Asuransi Perisai Listrik Indonesia. (LK/ZH)