Jiwasraya sends ripples through industry – Tue, February 18 2020


State-owned insurer PT Asuransi Jiwasraya’s investment mismanagement case has had a ripple effect on other companies in the financial industry.Insurance companies, investment management businesses and even cooperatives have been reportedly having liquidity problems after the Jiwasraya revelations.On Feb. 12, privately-owned life insurer PT Asuransi Jiwa Adisarana Wanaartha (WanaArtha Life) issued a letter to its policyholders acknowledging that its securities accounts had been frozen by the Attorney General’s Office (AGO) in connection with the office’s investigation of a corruption case pertaining to Jiwasraya’s fund management.On Jan. 24, the AGO ordered the suspension of 800 securities accounts related to Jiwasraya as part of its ongoing investigation to uncover alleged corrupti…



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