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Seven new companies have assigned PT Manulife Indonesia to
manage their employee benefits programs.
Under agreements signed Tuesday, Manulife will handle the firms'
benefit programs, including life and health insurance, pension funds
and severance payments.
The seven firms are PT Bahana Pembinaan Usaha Indonesia, PT Boehringer
Ingelheim Indonesia, PT Great Eastern Life Indonesia, PT K Line Air
Service Indonesia, PT Anabatic Teknologi, PT Papertech Indonesia and PT
Tira Austenite.
Manulife currently manages employee benefit programs for nearly 4,000
companies with 450,000 employees nationwide.
David Beynon, Manulife president director, said his company at present
held a 26 percent share of the pension fund market in Indonesia, with a
total of Rp 1.5 trillion (US$ 1.6 billion) under its management.
In the employee severance-pay market, Manulife holds a 15 percent
share, with Rp 349 billion under management. Meanwhile, and in the life
and health insurance market, it has a 10 percent share with total
premium income amounting to Rp 246 billion.
For private insurance, the company recorded total premium income of Rp
969 billion as of the end of September 2006.
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