Indonesia and Russia sign reinsurance deal

Agreement made to provide joint projects with insurance cover through a risk-sharing mechanism

Insurance News

By Gabriel Olano

Indonesia and Russia have signed a reinsurance agreement at the yearly Russia-Indonesia Business Forum held in in Jakarta. The two countries were represented by the Russian Agency for Export Credit and Investment Insurance (EXIAR) and PT Asuransi Asei Indonesia (ASEI RE).
The agreement was signed by Aleksey Tyupanov, EXIAR director general and Eko Santoso, director of Asuransi ASEI Indonesia.
It provides insurance support for firms from both nations involved in joint projects, as well as providing mutual insurance cover for exporters through a risk-sharing mechanism. The risk-sharing platform is expected to strengthen trade and economic relations between Indonesia and Russia. It also aims to promote projects involving both countries’ economic sectors.
Other attendees of the yearly Russia-Indonesia Business Forum were Russian minister of industry and trade, Denis Manturov; Indonesian minister of maritime affairs and fisheries, Susi Pudjiastuti; Indonesian coordinating minister for economic affairs, Darmin Nasution; and Russian ambassador extraordinary and plenipotentiary to Indonesia, Mikhail Galuzin. Also present were 150 delegates from Indonesian firms and 100 from Russian companies.

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