PT Tugu Reasuransi Indonesia (“the Company/Tugure”), was established on April 2, 1987, before Notary Raden Santoso, S.H., based on Notarial Deed No.8 dated April 2, 1987,of which was amended by Notarial Deed No. 28 dated May 11, 1987 and Notarial Deed No. 19 dated June 15, 1987. The Deed and the amendments were approved by the Minister of Justice of the Republic of Indonesia in its Decision Letter No. C2-4270-HT.01.01-TH/87 dated June 16, 1987 and was published in the State Gazette of the Republic of Indonesia No. 71 dated September 4, 1987, Supplement No. 809 under the name of “PT Tugu Jasatama Reasuransi Indonesia”.
In 1999, PT Tugu Jasatama Reasuransi Indonesia changed its name to “PT Tugu Reasuransi Indonesia” by the Deed No. 104 dated February 24, 1999, made before the Notary Agus Madjid, SH.
At the time of its founding, Tugure is intended to exclusively serve the insurance needs of Tugu Group. However, the rapid development of insurance industry in Indonesia has encouraged the Company to seize the opportunity and to expand its business scale and scope of its services to other insurance companies. In accordance with the Articles of Association, currently Tugure engages in the business of General Reinsurance and Life Reinsurance.
As a business entity, Tugure has positively evolved and managed to gain trust from national and international insurance companies. In 2004, Tugure was assigned the role of pioneering reinsurance cooperation among ASEAN countries under ARES (ASEAN Reinsurance Exchange Scheme), followed by the expansion of the Company’s operations to other countries such as Malaysia, Philippines, Vietnam and Thailand.