PRU INDONESIA WANTS TO SETTLE DISPUTE WITH EX-AGENT

Prudential Life Assurance Indonesia (PLAI), the Indonesian unit of UK-based assurer Prudential, has said that it still wishes to reach an out-of-court settlement with its former agent Lee Boon Siong over the contract dispute that led to its being forced to suspend its operations on being declared bankrupt by a Jakarta commercial court for its failure to pay certain fees owed to Mr Siong. Though that bankruptcy decision was later overturned by the country’s Supreme Court, the initial dispute with Mr Siong remains to be resolved. PLAI president Charlie Oropeza has said that the assurer’s position “remains the same as before the bankruptcy petition was filed ... We have always attempted [to reach an out-of-court settlement] and there is no reason why we should not do that”.