In 1999, PT Tugu Jasatama Reasuransi Indonesia changed its name to “PT Tugu Reasuransi Indonesia” by the Deed No. 104 dated February 24, 1999, made before the Notary Agus Madjid, SH.
At the time of its founding, Tugure is intended to exclusively serve the insurance needs of Tugu Group. However, the rapid development of insurance industry in Indonesia has encouraged the Company to seize the opportunity and to expand its business scale and scope of its services to other insurance companies. In accordance with the Articles of Association, currently Tugure engages in the business of General Reinsurance and Life Reinsurance.
As a business entity, Tugure has positively evolved and managed to gain trust from national and international insurance companies. In 2004, Tugure was assigned the role of pioneering reinsurance cooperation among ASEAN countries under ARES (ASEAN Reinsurance Exchange Scheme), followed by the expansion of the Company’s operations to other countries such as Malaysia, Philippines, Vietnam and Thailand.