Rajawali control 56% shares of Asuransi Jiwa Nusantara

PT Rajawali Investment owns 56 percent shares of PT Asuransi Jiwa Nusantara (AJN) after injecting IDR84.17 billion funds.

The AJN shareholders meeting yesterday agreed the involvement of Rajawali Investment as the major shareholder of AJN.

Rajawali shifted the possession portion of Optima Group which formerly owned 70 percent of the AJN shars composition. The company has faced financial constraints so that it needs capital injection.
Formerly the capital placement of AJN stood at IDr65.82 billion and it turned into IDR150 billion following capital injection from Rajawali.

New investor has come in and placed their IDR84.17 billion capitals and thus the total of AJN capital now is IDR150 billion.
Formerly, Optima Group through its subsidiary firm PT Optima Kharya Capital Securities (OKCS) owned 41.89 percent shares of AJN and PT Optima Kharya Capital Management (OKCM) 31.42 percent and thus Optima became the major shareholder.
Currently AJN is led by Rajawali Investment with 56.12 percent possession, OKCS 18.38 percent, OKCM 13.79 percent, As-krida 5.38 percent, Dapen Pamsi 2.18 percent, Yayasan Dana Pensiun BPD Bali 0.65 percent, Marga Jaya 0.55 percent and individual owns the rests.

The new investor has given the IDR73 billion payment. The company revised the premium target this year form IDR250 billion into IDR450 billion following the capital rise.

With the new investor, the risk based capital (RBC) has grown by 124 percent as from under 120 percent.