Effective since 3 February 2023, PT Asuransi Cigna (Cigna) has officially merged with PT Chubb Life Insurance Indonesia (Chubb Life Indonesia), in accordance to the Financial Services Authority (OJK) Decree no. S-4 /D.05/2023, dated 2 February 2023; and Letter from Ministry of Law and Human Rights no. AHU-AH.01.030020515, dated 3 February 2023, whereby PT Chubb Life Insurance Indonesia will be the surviving entity (the “Merger”). These complementary strategic corporate action advance Chubb by expanding and strengthening its presence in Indonesia.
“Indonesia is one of Chubb Life country focus in Asia Pacific. The combination of Chubb and Cigna's talented people, technical and analytical capabilities, innovative products and optimal services will drive profitable opportunities for customers, business partners and all stakeholders and support Chubb Life in reaching more people in Indonesia,” said Bryce Johns, Global President Chubb Life.
Bryce added, the combined strength of the two companies will certainly made Chubb Life to provide even greater choice for our Indonesia customers and partners. The merger is also be an added value for Chubb Life Indonesia in strengthen our competitive advantages in the life insurance industry in Indonesia.
Since the effective date of the merger, Chubb Life Indonesia is responsible for customer protection & benefit, payment of all claims and other obligations arising from insurance policies previously issued by Cigna. Insurance coverage are still applicable based on the policy agreement, with claims are now expected to be addressed to Chubb Life Indonesia. After the merger, Chubb Life Indonesia is committed to always putting our customers’ rights at the heart of our business.
"Chubb Life Indonesia is always committed to giving the highest priority to the rights of our customer. Every policy that has been issued by the two companies will remain valid and all customer rights will be respected in accordance with the provisions of the policy," added Kumaran, President Director Chubb Life Indonesia
After the merger, Chubb Life Indonesia will further strengthen its position as a life and health insurance company with various integrated distribution channels. "We will strengthen distribution channels through agencies, brokers, bancassurance, partnerships, and also digital. We are optimists that Chubb Life Indonesia will be able to provide optimal products and services to all customers and the people of Indonesia," said Kumaran.