July 18, 2017 / 6:00 AM / 3 months ago

Prudential Financial enters Indonesian life insurance market

July 18 (Reuters) - U.S.-based Prudential Financial Inc has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday.

Prudential’s Pruco Life Insurance Company unit has acquired a 49 percent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia-based CT Corp, the companies said in a statement. Financial terms were not disclosed.

Reporting by Suzanne Barlyn in New York; Editing by Matthew Lewis

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