Zurich Acquires Adira Insurance, Expands Market in Indonesia

What's On | Written By, Life on the Island |

Global insurance provider, Zurich Insurance Group, expands market in Indonesia through acquisition of PT Asuransi Adira Dinamika Tbk. 

Now one of the world’s most significant international life insurance and property and casualty (P&C) insurance companies, Zurich Insurance Group’s (Zurich) has successfully completed its acquisition of 80% of PT Asuransi Adira Dinamika Tbk (Adira Insurance) from PT Bank Danamon Indonesia Tbk (Bank Danamon). The pivotal transaction includes two separate long-term distribution agreements Bank Danamon and PT Adira Dinamika Multi Finance Tbk (Adira Finance); it makes Zurich the top international P&C insurer in Indonesia.

Zurich Indonesia serves customers in the Life and P&C insurance segments through PT Zurich Topas Life (ZTL) and Adira Insurance. After this acquisition, Adira Insurance is 80% owned by Zurich, with a minority share being held by Bank Danamon. Through a network of distributors (agents, brokers and bank partners), ZTL offers comprehensive protection and financial planning products, while Adira Insurance provides conventional and shariah based products and services.

“Through our combined strengths we are well-positioned to offer best-in-class products and services to our retail and corporate customers. Adira’s extensive network and strong customer relationships complement Zurich’s global footprint and underwriting expertise well,” says Jack Howell, CEO of Zurich Asia Pacific. 

Chris Bendl, Country Manager for Zurich Indonesia and President Director of ZTL, said, “As the largest international P&C insurer, we are in a great position to play an active role in the continued development of Indonesia’s insurance industry. Through Adira Insurance and our other Zurich businesses including our Life company, we are committed to helping our customers manage their risks and achieve financial success in the long term.” 

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. 

Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. 

Further information about Zurich is available at www.zurich.co.id

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