Great Eastern to buy Indonesian insurance firm for $38.5 million
Great Eastern (GE) Holdings | December 12, 2018
Great Eastern (GE) Holdings is acquiring PT QBE General Insurance Indonesia for US$28 million (S$38.5 million), it announced yesterday. The transaction is expected to be completed in the first half of next year, subject to approval by Indonesia's financial services authority and the Monetary Authority of Singapore. GE said in a statement that QBE's history in the Indonesian general insurance market dates back more than 100 years.