Zurich Insurance Indonesia to be converted into General Takaful Operator by 2021

Zurich Insurance Indonesia (ZII), a subsidiary of the Zurich Insurance Group (ZIG), is to be converted into a Shariah general insurance company set to be operational by 2021, subject to approval by regulators. The new Shariah-compliant company will operate under the name of Zurich General Takaful Indonesia (ZGTI).

At present, ZII offers customers life insurance solutions via Zurich Topas Life (ZTL) and general insurance through Asuransi Adira Dinamika (Adira Insurance). Adira Insurance was taken over by ZIG in an 80% acquisition in November 2019.

Once the conversion is finalised, ZII customers will have the option of renewing their conventional insurance policy contracts with Adira I...