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Zurich Insurance acquires 80% stake in Adira Insurance

28 November 2019 15:17

JAKARTA - Switzerland’s Zurich Insurance has completed the acquisition of an 80% stake in PT Asuransi Adira Dinamika, also known as Adira Insurance, with a value of around US$ 414 million.

As reported by Reuters on Thursday (28/11), Zurich purchased the shares in Adira from PT Bank Danamon Indonesia Tbk (BDMN) and a minority shareholder. Following the deal, Zurich is currently the largest international property and casualty insurer in Indonesia.

The acquisition plan was first announced in September 2018 as part of Zurich’s plan to expand in growth markets. (MS)

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