JAKARTA -- Indonesia's consolidation of four state-owned insurers under one holding entity is intended to breathe new life into an industry rocked by mismanagement scandals. But what has been left out of the government's plan is raising questions.
Bahana Pembinaan Usaha Indonesia, a financial group fully owned by the government, has been made the parent of four state insurers with a combined 60 trillion rupiah ($3.6 billion) in assets, under a decree signed by President Joko Widodo last month.
