INDONESIAN Financial Group (IFG), the new face of state-owned Bahana Pembinaan Usaha Indonesia, is pressed for time as a monumental task awaits: to keep the crisis-hit Asuransi Jiwasraya in business and catch up with the arrears the state insurer owes to thousands of policyholders.

With nine state-owned enterprises under its wing and a total asset of Rp76.2 trillion, IFG applied for the insurance license and approval for IFG Life’s produc