Panin Life: "A Low Profile But Aggressive Life Insurance Company

This is not only the largest mergers throughout history, both associated with the scale of the giant company. Citicorp, with Citibank in it, is a global banking giant Travelers Group, and is one of the giant United States insurance.

In 1998, Citicorp and Travelers Group to create new history.

Both companies successfully convincing Congress that the United States to remove the Glass-Steagal Act, which have limited the business activities and various financial institutions in accordance with a specific corridor, which is the barrier to mergers. When Citigroup was born as a response to the dream that the insurance companies in the United States can sell to customers on the bank and the bank could sell insurance to customers in synergistic. In conclusion, this is a merger between the largest financial channel 2.

In the merger, Citicorp, ultimately successfully retain the name "Citi" brand in the combined company, while only kebagian Travelers umbrella logo merahnya adapted to the new logo Citigroup. However, not long after the merger, the Travelers petinggi led by its chairman Sandy Weill successfully "eliminate" the petinggi Citicorp chairman who led it, John Reed. Thus, there is a thought that is not a merger, but "takeovers" by a bank insurance company.

In Indonesia, the story of synergies between banking and insurance is quite different. The major banks in Indonesia in general, have ownership in the life insurance companies. 49 percent have self-ownership of AXA Mandiri. BRI became the majority shareholder in the fund through Bringin Life pensiunnya. BNI is also a major shareholder in BNI Life. Banks such as BCA and Bank Danamon only have life insurance where the partner banks have a role as the Bancassurance channel. The Bank is a party that still have bargaining power is greater.

However, the opposite is the story of the Panin Group. Without a lot of known people, life insurance company PT Panin Life Tbk (PNLF) that low profile would be one of the owners Panin Bank, which is seventh largest bank in Indonesia in terms of assets. This is unique considering Panin Bank two years older and sign up in the stock a year earlier than Panin Life. With a significant share in one of the banks that have a conservative, but the percentage of high liquidity, PNLF have the opportunity to control the growth of security investment funds and at the same time have the flexibility in the running of strategic steps. In addition to utilizing Panin Bank as one of the channels, can also be freely PNLF widen access to the partner with other financial institutions, especially to capture the two trends, the trends in the life insurance associated with the investment and the trend toward life insurance based on sharia.