Asuransi ASEI as main surety bond insurer in Indonesia

Business progress and government regulation concerning the Surety Bond Guarantee (Suretyship) made Asuransi ASEI as the main company in this business. 3 November 2008, Government issued new policy in Minister of Finance Regulations (PMK) Number 124/PMK.010/2998 concerning "Implementation of Credit Insurance and Suretyship Business". One of PMK aims is made the Surety have better credibility in Suretyship Guarantee release to the Obligee. Specifically, those 3 articles states that: "General Insurance Company which release Credit Insurance or Suretyship aim to have Equity at minimum 250 billion Rupiah".

That, made less eligible General Insurance company which able to release Suretyship Guarantee. That PMK benefits PT. Asuransi Ekspor Indonesia (Asuransi ASEI). Currently, Asuransi ASEI has 600 billion Rupiah in equity, twice more than the qualified limit. In the other side, refers to Asuransi ASEI experiences in Insurance and Guarantee service for almost 24 years (established in 1985) and its status as State-Owned Enterprises (BUMN), thus made Asuransi ASEI as the best Surety Company for both Principal and Obligee.

To implement risk management and to develop acceptation capacity, Asuransi ASEI should cooperate with other both other organization and other companies. One of them is Reinsurance Company, for supporting in risk and guarantee acceptation capacity improvement. In Indonesia, General Insurance companies able to be Reinsurance company (Reinsurer) for one each other. In Indonesia, There are 4 (four) national companies thus established as Reinsurance Company (Professional Reinsurance). They are: PT. Reasuransi Nasional Indonesia (Nas RE); PT. Reasuransi Internasional Indonesia (ReINDO); PT. Tugu Reasuransi Indonesia (TUGU-RE) and PT. Maskapai Reasuransi Indonesia, Tbk (MAREIN), thus united in INDONESIA PROFESSIONAL REINSURERS (IPR). Asuransi ASEI also supported by international professional reinsurance, Asia Capital Reinsurance Group, Pte.Ltd, Singapore.

As Professional Reinsurance (Prof-RE), they have analytical ability and more comprehensive data. Sometimes, Prof-RE could be "consultant" for their clients (ceding company), especially for underwriting quality improvement of the ceding company.

Asuransi ASEI proud of becoming client of thus four Prof-RE (5, include international Prof-RE). It commits Asuransi ASEI, means high credibility in insurance and guarantee business. Thursday, 18 December 2008 in Head Office of Asuransi ASEI (Gd. Menara KADIN Indonesia, 22nd floor, Kuningan-Jakarta) has signed TREATY REASURANSI SURETYSHIP TAHUN 2009 between Asuransi ASEI and four Professional Reinsurances above. Asuransi ASEI represented by Mr. Zaafril Razief Amir (President Director) and from each prof-RE represented by Mr. S. Setiawan (President Director of ReINDO); Mr. Harry Kaporo (President Director of Nas RE); Mr. Robby Loho (President Director of MAREIN) and Mr. Moro W. Budhi (President Director of TUGU-RE).

Supported by 4 domestic Prof-RE, 1 international Prof-RE and other domestic General Insurance companies thus united in Reinsurers Panel for Asuransi ASEI, made Asuransi ASEI one of the higher credible Insurance and Guarantee Company. .

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