Company Overview of PT BNI Life Insurance
PT BNI Life Insurance provides life, health, education, investment/unit link, retirement, and Sharia insurance products. Its distribution channels include agency channel, which provides insurance products through agents in Indonesia’s major cities; bancassurance channel that provides insurance products for bank customers; employee benefits channel, which provides group insurance products for employees; and Sharia channel that provides individual or group insurance products based on Sharia principle. PT BNI Life Insurance was formerly known as PT Asuransi BNI Jiwasraya and changed its name to PT BNI Life Insurance in 2004. The company was founded in 1996 and is based in Jakarta, Indonesia. PT...
BNI Life Tower
The Landmark Center
Jl. Jend. Sudirman No. 1
Founded in 1996
Key Executives for PT BNI Life Insurance
Director of Bancassurance and Director
Director of Risk Management and Director
Compensation as of Fiscal Year 2014.
PT BNI Life Insurance Key Developments
Sumitomo Life In Talks To Acquire BNI Life Insurance
Oct 25 13
Sumitomo Life Insurance Company is in advanced stage of discussions to acquire a 40% stake in PT BNI Life Insurance from PT Bank Negara Indonesia (Persero) Tbk. (JKSE:BBNI). Sources familiar with the matter said that the transaction could be valued at nearly $400 million but the final price is yet to be finalized. Sumitomo Life emerged as the sole remaining suitor in the bidding process, the sources told Reuters.
PT BNI Tbk Shortlists Three Investors For BNI Life Insurance Stake
Oct 21 13
PT Bank Negara Indonesia (Persero) Tbk. (JKSE:BBNI) has shortlisted three from 10 potential foreign investors that are interested in acquiring shares in PT BNI Life Insurance. BNI wants to sell 40% shares in BNI Life. Gatot Suwondo, President Director of BNI, said the three potential investors for BNI Life will be processed towards final offering. "We can reach a financial close by the end of this year", he said without providing the names of the three potential investors. Sumitomo Life Insurance Company is reported to be one of the potential investors for BNI Life. Sumitomo is interested in acquiring a 40% stake in BNI Life for $800 million. Yap Tjay Soen, Director of Finance at BNI, said BNI Life's share sales value would not exceed $800 million.
Sources Say Bank Negara Revives Plans To Sell Part Of BNI Life Stake
Jul 11 13
People close to the situation said, after a plan to sell a more than $500 million stake stalled in early 2013, that PT Bank Negara Indonesia (Persero) Tbk. (JKSE:BBNI) has revived plans to sell part of its stake in PT BNI Life Insurance. One Source stated that Bank Negara Indonesia has sounded out more than 10 parties over the past few weeks, with the aim of sending out ‘information memorandums’ to interested parties by the end of week ending on July 12, 2013 and the bids are expected by the end of August 2013. The news report stated that it is unclear whether the bank is selling any management rights as part of the deal. It added that Bank Negara Indonesia has been considering selling a 40% stake in BNI Life Insurance, but a person familiar with the matter said that the exact size of the stake on offer is not yet decided. The Wall Street Journal reported quoting person close to the matter as saying that a sale of a 40% stake was expected to raise up to $500 million if it came with an exclusive distribution agreement. The sale process was initially expected to start in February 2013. The report added that Bank Negara Indonesia appointed three advisers, BNP Paribas, PT Bahana Usaha Indonesia, and PT Danareksa, but people familiar with the situation said that the process stalled because it took too long for the bank to prepare the financial details of the insurance business for prospective buyers.
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