Tugu Insurance moves ahead with state insurer merger and heads Masela gas project consortium

PT Asuransi Tugu Pratama Indonesia (Tugu Insurance) said the planned consolidation of state‑owned general insurers under the Danantara investment management body remains in the study phase. CEO Adi Pramana noted that no decision has been made on the merger’s form or structure, with technical discussions expected to finish by July 2026 and integration to start in September 2026. The move aims to boost scale, operational efficiency, underwriting capacity and corporate governance.

Separately, Tugu Insurance has been appointed the lead insurer for the massive Masela offshore gas project, a development valued at US$20‑30 billion (about Rp 340‑510 trillion). Director of Technical Services Fadlil Iswahyudi explained that Tugu will coordinate a multinational insurance consortium to cover the project's high‑risk, high‑value assets, which are expected to produce roughly 9.5 million tonnes of LNG per year. The consortium will pool global reinsurance capacity to meet the project's extensive risk‑cover requirements.