JAKARTA: Indonesia does not intend to bail out a state-owned life insurer that needs an injection of more than US$2bil, the finance ministry said, after reports that the attorney-general’s office has been asked to probe possible fraud.
Asuransi Jiwasraya has faced financial woes since late 2018, when asset investments, including in risky cheap stocks, turned sour, prompting a delay in paying maturing policies.
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