INDONESIAN INSURER LOOKS TO RAISE STAKE IN ACA

Indonesia-based Insurance Central Asia (ACA) has said that it wants to increase its stake in locally based player Harta Aman Pratama (AHAP) to 51% from 19.76%. ACA president Teddy Hailmsah said that the company would be willing to pay 10.15bn rupiah for an additional 31.24% stake. AHAP posted premium income of 30.65bn rupiah in 2006, up from 29.04bn rupiah the year before. However, net profits fell to 218.7m rupiah from the previous year’s 1.07bn rupiah.