Jakarta, 15 December 2021 – PT Bank J Trust Indonesia (J Trust Bank) signed a Memorandum of Understanding with PT Asuransi Jiwa Sequis Financial (Sequis Financial) for plans to market life insurance and health insurance products. The products under this cooperation will be marketed immediately after obtaining approval from the Otoritas Jasa Keuangan (OJK).
The economic condition of most Indonesians has become very uncertain since the Covid-19 pandemic hit for the past two years. So many unexpected risk factors emerge such as illness and death that impact the lives of many families.
Therefore, J Trust Bank highly appreciates the cooperation plan with Sequis Financial as one of the trusted insurance service providers, this is in line with J Trust Bank's main focus, which is to ensure the sustainability of customers' financial conditions in the midst of a pandemic situation that has not yet fully recovered. On the same occasion, Sequis Financial expressed pride in being a partner of J Trust Bank and hopes that this collaboration will last in the long term for the welfare of many Indonesian families. Prosperous Indonesian families are one of the supporters of the country's economy.
Referring to the financial statements for the third quarter – 2021, Sequis Financial and J Trust Bank are in stable condition. J Trust Bank has a total loan portfolio of IDR 8.6 trillion and total customer deposits of IDR 14.4 trillion. The Bank's liquidity and capital ratios were also well maintained where the Liquidity Adequacy Ratio was recorded at 142.24% and the Minimum Capital Adequacy Ratio was recorded at 11.02%. As for Sequis Financial, as of the third quarter of this year, it has recorded gross premium income of Rp. 47.04 billion, Total Assets of Rp. 515.26 billion, and Total Investment of Rp. 459.97 billion and RBC of 495%.
