Davos, 23 January 2018 (Antara News) - Pioneering local insurance company WanaArtha Life today laid out an ambitious vision for investment in renewable energy and transport infrastructure development that focuses on delivering inclusive and sustainable growth to Indonesia’s economy, through a Public Private Partnership (PPP) model.
WanaArtha Life, one of the top ten local insurance companies with USD730 million in assets, has over 40 years’ experience insuring the nation’s needs, offering a comprehensive portfolio of products, from health insurance to financial planning, that support individuals and businesses throughout archipelago. Its life premium income amounted to USD 780 million as at end December 2017. The Indonesian insurer’s articulated vision will help meet the nation’s growing infrastructure funding needs, encouraging positive investment by Indonesia’s insurance industry into key infrastructure projects, including renewable energy and transport infrastructure.
“Our business is one that has always been driven by excellence, trust and unity. Now, we want to work with our industry partners, alongside public organisations and government to help leverage that excellence and unity to provide essential investment to deliver on Indonesia’s vital infrastructure needs,” said Evelina Pietruschka, President Commissioner of WanaArtha Life on the sidelines of the World Economic Forum 2018 in Davos.
In a 2017 report, Meeting Asia’s Infrastructure Needs, the Asian Development Bank (ADB) estimated Indonesia will require as much as US$1.2 trillion in infrastructure investment by 2030. Bridging this investment gap provides a notable challenge, yet according to Evelina Pietruschka, it also offers significant opportunity for the insurance industry.
“Indonesia’s infrastructure needs are vast and complex. The government has made admirable progress in working to meet those needs, but achieving the nation’s wider goals will require public and private organisations working in partnership. Long-term investment horizons and relatively low-volatility means infrastructure projects offer an attractive opportunity for the insurance industry.”
A major focus of those investments for WanaArtha Life will be in areas of renewable energy and transport infrastructure. Indonesia’s goals under the Paris Climate Change Agreement set out an intended reduction in emissions of 29% by 2030. Government targets to achieve renewable energy as 23% of the energy mix by 2025 are key to this success, with further ambitions seeing renewables reaching 31% of the mix by 2050.
Indonesia benefits from abundant solar, wind and tidal power potential, alongside some of the world’s most substantial geothermal and hydropower reserves. According to the International Renewable Energy Agency (IRENA), unlocking this potential and empowering a more sustainable environment could generate net economic benefits of over US$53 billion annually for the nation, an estimated 1.7% of Indonesia’s GDP by 2030.
“Investment in renewable energy and transport infrastructure presents a significant opportunity to support nation’s journey towards a cleaner, more sustainable energy future for Indonesia” said Evelina.
WanaArtha Life is championing Indonesia’s innovative and positive financial investment environment during their engagement with the World Economic Forum in Davos. By offering an alternative funding option to develop the nation’s ambitious renewable energy and transport infrastructure, the company aims to drive inclusive and sustainable growth for Indonesia and the larger ASEAN economy, embracing a Triple Bottom Line approach.
About WanaArtha Life
WanaArtha Life is an award-winning Indonesian insurance company with over 40 years’ experience delivering reliable solutions to meet the nation’s essential insurance needs. The company offers a key suite of life and health insurance products for individuals and businesses, as well as corporate and private financial planning services.
Since its founding in 1974, WanaArtha Life has been driven by core values of service excellence, advance, trust and unity. These key drivers have seen WanaArtha Life receive multiple domestic and international awards, alongside being recognised by the World Economic Forum as a Global Growth Company in 2014.
Find out more at: http://www.wanaarthalife.com
Reporter: PR Wire
Editor: PR Wire
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