Prudential Indonesia hunkers down with asset shifts
The insurer's CIO outlines how the firm is positioned after initially losing one-fifth of its assets during the pandemic. Jakarta’s lockdown and the tech share sell-off will test that strategy.
Prudential's Indonesia business enjoyed an asset rise of 6% in the second quarter following gains in local and overseas stock markets, helping claw back some of the losses it suffered during the first three months of 2020. However, it has had to adjust its strategy again as a new round of lockdowns in the capital Jakarta threatens to put more downward pressure on the life insurer's portfolio.
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