Bank Mandiri (BMRI) Divests All Shares in AXA Insurance Indonesia

October 04, 2023, 08.09 PM | Reporter: Adrianus Octaviano

ILUSTRASI. Financial Advisor melayani nasabah di counter salah satu asuransi jiwa di Tangerang, Jumat (2/10). Berdasarkan catatan Asosiasi Asuransi Jiwa Indonesia (AAJI) di paruh pertama tahun ini, secara jumlah industri asuransi jiwa sejatinya masih didominasi oleh perusahaan nasional yang berjumlah 38, sedangkan perusahaan yang statusnya joint venture (JV) ada 22./pho KONTAN/Carolus Agus Waluyo/02/10/2021.

DIVESTMENT - JAKARTA. PT Bank Mandiri Tbk (BMRI) has divested its share ownership in PT AXA Insurance Indonesia. The bank with the golden ribbon logo has released 20% of its shares in the insurance company formerly known as PT Mandiri AXA General Insurance.

In detail, the remaining 138,000 shares owned by Bank Mandiri were released to two shareholders, Anil Panjwani and Manoj Ramkrashin Tolani. Each received 69,000 shares or about 10% of the placed and paid-up capital of AXA Insurance Indonesia.

“After the share transfer, the company no longer owns shares in AXA Insurance Indonesia,” said Bank Mandiri Corporate Secretary Rudi As Aturridha in an information disclosure (4/10).

Rudi revealed that this divestment step is part of Bank Mandiri's strategy to strengthen the consolidation of subsidiary companies in the Bank Mandiri Group.

“To get optimal investment results,” he said.

For information, Bank Mandiri had previously reduced its share ownership in the insurance company. In November 2018, Bank Mandiri had released 40% of its share ownership.

Despite this divestment transaction, Rudi assured that it would not end the bancassurance cooperation with AXA Insurance Indonesia. In addition, it also has no impact on cooperation with other AXA Group companies, PT AXA Mandiri Financial Services.