The Indonesian Ministry of State Enterprises plans to merge four state-owned reinsurance companies into a new state-owned one with a minimum asset of 70 trillion Rp (over 7 billion USD).

Relndo, Tugu-Re, Nasional-RE and PT Tugu Reasuransi Indonesia will be merged into PT Asuransi Ekspor Indonesia (ASEI), Minister Dahlan Iskan said, adding that the merger will enable the government to have a reinsurance company with huge capital and assets.

He expressed his wish that the merger will be realized in the next two months so that the new company can start operations fully in 2014.-VNA