PT FWD Life Indonesia (“FWD Life”) and PT FWD Insurance Indonesia have successfully completed their merger, bringing the two entities together as PT FWD Insurance Indonesia (“FWD Insurance”).
In 2020, FWD Group acquired and rebranded PT Commonwealth Life (“PTCL”), an insurer established in Indonesia in 1993, as FWD Insurance. The combination of FWD Life and FWD Insurance will enable FWD Insurance to expand and focus on creating fresh customer experiences with customer-led and easy-to-understand products, supported by digital technology to meet the evolving needs of today’s increasingly technologically-savvy customers.
Huynh Thanh Phong, FWD Group CEO, said, “FWD has established itself as a fresh and dynamic insurance brand in a few short years since entering Indonesia. This merger expresses our confidence in the long-term potential of Indonesia’s insurance market. We look forward to achieving even greater successes together as we seek to change the way people feel about insurance in Indonesia.”
Anantharaman Sridharan, FWD Insurance President Director added, “With the combined strength of our fresh and digital-led approach with an extensive service network and established customer base, we are well set to serve more customers and enhance their insurance experience. As one unit, we’ll be more agile in facing challenges while pivoting to breaking stigmas and making insurance simpler, faster and smoother. We’re committed to continue making insurance more accessible for Indonesians.”
All existing FWD Life and FWD Insurance policies and their terms and benefits remain the same. Customers can continue to access the company’s products and services using their preferred service channels. Some product names will be updated to reflect the new company name.
This milestone also marks the launch of FWD Indonesia’s “Everyday Heroes” campaign. This campaign encourages people to be the hero of their own lives and to make decisions that give a big impact. It reflects FWD Insurance’s philosophy that insurance should be a source of empowerment.
“We want to inspire everyone to boldly embrace changes and challenges, and create their own story and truly celebrate living, or in our words: Bebaskan Langkah, Berani!” added Anantharaman.