Government to Form Policy Guarantor to Stem Losses in Insurance Firms
Summary
The government will establish a Policy Guarantee Agency (LPP) on the back of issues that have trapped some state-owned insurance companies, such as PT Asuransi Jiwasraya and PT ASABRI. Finance Minister Sri Mulyani said that the establishment is in line with the mandate of Law No. 40/2014 on Insurance.