[songyou]

2019, February 12 - 18 --- Tempo

The storm at the heart of Asuransi Jiwasraya shows latent problems with all state-owned companies: poor financial management and imprudent investments. The company, which was established during the Dutch colonial period, has had to delay payment of claims under the JS Proteksi plan totaling Rp. 802 billion. The state auditor needs to investigate the possibility of illegal practices behind the high-risk share investment scheme that ended up throttling the company.

Jiwasraya appeared to be in good shape when it was headed by Hendrisman Rahim. Alongside him was Harry Prasetyo as finance director. Managing the company since 2008, the two were seen as successful and were entrusted with the leadership from 2013-2018. But it turned out that Jiwasraya?s performance was not as stellar as it appeared. There were many policies that eventually led to problems: high risk share investment schemes and the appearance of the instant JS protection plan project.

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