PT Bank Rakyat Indonesia (Persero) and FWD Financial Services Pte Ltd have completed a long-term strategic partnership with PT Asurnasi BRI Life on March 2, 2021.

In this transaction framework, FWD has made additional capital in BRI Life of 936,458 shares through the issuance of new shares.

Post placing the additional capital in BRI Life, BRI remains the controlling and consolidating shareholder amounting to 63.83%,  while FWD at 29.86%, and BRI Employee Welfare Foundation at 6.31%.

"This transaction is carried out in order to support the development of BRI Life's business in order to achieve the company's aspirations to provide integrated services for the public," said BRI Corporate Secretary Aestika Oryza Gunarto in the IDX disclosure on Wednesday (3/3).