Indonesian authorities signs reciprocal agreement with UAE insurance coverage group to take part in international markets.
Jakarta: State-owned PT Reasuransi Indonesia Utama, by way of its subsidiary Asuransi ASEI Indonesia, has signed a reciprocal facultative agreement with Etihad Credit Insurance to discover expertise-sharing together with industrial underwriting, claims and restoration.
In a press release, Benny Waworuntu, president director and CEO of PT Reasuransi Indonesia, mentioned by way of this agreement, each events will search enterprise alternatives in insurance coverage, reinsurance and co-insurance providers and assist Asuransi ASEI take part within the international insurance coverage market.
Co-operation with Etihad Credit Insurance is taken into account step one.
“The aim is to promote Asuransi ASEI to take part in the global area or international exposure through a co-operation programme with Etihad Credit Insurance by forming a collaborative task force in six areas of co-operation,” he mentioned.
On 4 November 2021 Indonesia Re Group and Etihad Credit Insurance signed a memorandum of understanding (MoU) masking co-operation small and medium enterprise (SME) programmes, insurance coverage and reinsurance assortment, trade data, halal trade, commerce promotion and worldwide commerce and promotion.
The co-operation additionally varieties a part of the Indonesia-UAE Comprehensive Economic Partnership Agreement negotiations beneath which each side dedicated to reinforcing commerce and financial co-operation by serving to their respective home firms develop internationally. In the previous 5 years, the online value of non-oil commerce between the UAE and Indonesia has surpassed $11 billion. In 2020 alone, regardless of the challenges of the COVID-19 pandemic, the whole worth of the UAE’s non-oil commerce with Indonesia stood at $1.9 billion.
Meanwhile, the UAE will probably be one of many chief friends on the seventeenth Group of 20 (G20) Heads of State and Government Summit taking place in Bali in November beneath the theme “Recover Together, Recover Stronger”.
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