Swiss Re leading a natural catastrophe reinsurance treaty

Swiss Re will be the leader of the new umbrella reinsurance treaty that covers the State assets in Indonesia against natural disasters.

This coverage complements the insurance coverage provided by the 56 Indonesian insurers and reinsurers. The agreement covers only ministerial and institutional buildings against major risks: natural disasters, riots and terrorism. The coverage amounting to 770 million USD will terminate in 2023.

The first phase of the project involves the insurance of the ministry of finance 's buildings. In a second phase, coverage will extend to 10 more ministries then to 20 and 40 ones in 2022. The entire process of insuring government assets will end in 2023.