Indonesia's Tugure eyeing overseas expansion

The move will play a role in its vision to become a regional insurer by 2024, it said.

Tugu Reasuransi Indonesia (Tugure) is partnering with parent firm Tugu Insurance in its bid to expand internationally,  Antara News Agency has reported.

Reinsurers need to diversify their geographic distribution so that their exposure is not limited to Indonesia (alone), said Tugure technical director Fadlil Iswahyudi.

Strengthening its capabilities overseas will also play a fundamental role in realising Tugure’s vision to be a regional reinsurer by 2024, he added.

Tugure is also aiming for an international rating from AM Best, Fadlil shared, which will help the reinsurer acquire businesses with measurable risks.