Jakarta - Indonesia Financial Group (IFG), the insurance and guarantee state-owned holding company, has received funds from the government through the addition of cash State Equity Participation (SEP) of Rp20 trillion.

IFG will use this cash SEP receipt to strengthen the capital structure of its subsidiary, PT Asuransi Jiwa IFG (IFG Life).

"IFG accepts PMN as a form of trust given by the government and other stakeholders in order to build and strengthen a healthier insurance industry, especially in the field of life insurance through IFG Life," said IFG President Director Robertus Billitea in a press release on Thursday (25/11).

He added that in terms of placement of SEP funds, according to the study of equity participation, it will be prioritized on investment instruments with a low-risk level, such as Government Securities, corporate bonds with good ratings, and deposits with healthy banks.

"We believe that the management of I