We have three operations in Indonesia. PT AXA Life Indonesia, our joint venture (in which we have an 80 per cent economic interest) with Tempo Group, was established in 1993. PT AXA Mandiri Financial Services, a joint venture (in which we have a 51 per cent economic interest) with Bank Mandiri, Indonesia’s largest bank which was established in 2003. PT AXA Financial Indonesia / PT AXA Asset Management Indonesia, formerly MLC Indonesia entities, were acquired (100 per cent ownership) in May 2006.
In total in Indonesia, we have close to 10,000 agents and advisors, 470 employees, A$1.11 billion funds under management and A$319.5 million total premium income. Our operations rank eighth in new business.
