JAKARTA. PT Bank Danamon Indonesia Tbk (BDMN) has officially sold 70% of its shares in PT Asuransi Adira Dinamika to Zurich Insurance Company Ltd. and leaving only 10% of shares.
After the transaction, Zurich Insurance now has an 80% stake in Asuransi Adira. Previously the Swiss insurance company only owned 10% of shares in Asuransi Adira.
Yasushi Itagaki, President Director of BDMN, assessed that Zurich's investment in Adira Insurance will improve Asuransi Adira's performance, because it can provide added value to policyholders and corporate stakeholders. "We are confident that cooperation between Bank Danamon, Asuransi Adira, and Zurich will enable us to increase market penetration in key growth segments," Itagaki was quoted as saying by Kontan on Thursday (28/11).
BDMN will use the proceeds from the sale of Asuransi Adira's shares to strengthen its capital structure. Including developing the structure, quality of customers, and increasing the potential for dividends for shareholders. (KR/AR)