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Indonesia Financial Group

Monday, March 8, 2021

The Memorandum of Understanding Signing Ceremony between the BPKP and the Ministry of BUMN and the Deputy for State Accountants with BUMN Holding, one of which is IFG, to commit to implementing the principles of compliance and good corporate governance, at the BPKP head office, Jakarta, last January. Photo: ifg.id

Investigations Lead to Management Overhaul

The alleged corruption implicating Asuransi Kredit Indonesia (Askrindo) sparked up improvement plans in the parent company of state-owned insurance and underwriting firms. There are problems in the insurance agent business regulations.

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Monday, March 8, 2021

Indonesia Financial Group (IFG) CEO Robertus Bilitea at the Chartered Standard Building, Jakarta, March 5.
Tempo/Tony Hartawan

Independent Auditor Investigates Findings at Askrindo

Investigation by an audit committee formed by Askrindo's board of commissioners of the company’s finance in 2019 found indications that the commission paid to Askrindo Mitra Utama (AMU), a subsidiary which is also an insurance sales agent, was a cover for bribes to the company board of directors. Robertus Bilitea, Chief Executive Officer of Indonesia Financial Group (IFG), a state-owned insurance holding company, answered Tempo’s questions regarding the alleged corruption within one of IFG’s subsidiaries.

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