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Indonesia’s BNI Considers Stake Sale in Life Insurer Unit

  • BNI is in talks with financial advisers on potential disposal
  • Sumitomo Life is also reviewing its BNI Life holdings

State-owned PT Bank Negara Indonesia is considering strategic options including potentially selling its stake in life insurance business that could value the unit at about $1 billion, according to people familiar with the matter.

The Jakarta-based lender has held initial discussions with advisers on a potential transaction for its 60% stake in PT BNI Life Insurance, the people said. A deal could include a so-called bancassurance partnership in which an insurer is permitted to sell its products in a bank’s branches and other retail channels for a certain period, the people said.