JAKARTA. FWD Financial Services Pte. Ltd becomes the new shareholder of PT Asuransi BRI Life (BRI Life) and owns nearly 30% of the insurance shares owned by BRI Bank.
FWD Financial Service Pte, Ltd bought 936,458 shares from the issuance of BRI Life's new shares, according to the disclosure information submitted by BRI's management to Indonesia Stock Exchange (IDX) Tuesday (2/3/2021).
With the purchase of these shares, BRI Life's shareholder composition continues to place PT Bank Rakyat Indonesia Tbk (BBRI) as the majority with ownership of 2,002,022 shares or 63.83%, FWD Financial Service Pte, Ltd owns 936,458 shares or 29.86% and Yayasan Kesejahteraan Pekerja BRI by 197,978 or 6.31%.
"BBRI remains the controlling and consolidating shareholder of BRI Life," said BBRI Corporate Secretary Aestika Oryza Gunarto in the disclosure of information.
Aestika explained that the transaction was not included in the criteria for a material transaction and also not an affiliated transaction and a conflict of interest transaction. The transaction was carried out to support BRI Life's business development in providing integrated financial services for the public, Aestika added. (AM/LM)