PT Reasuransi Nasional Indonesia, currently well known as NASIONAL RE, was incorporated on August 22, 1994, initiated by the operation of one of PT Asuransi Kredit Indonesia's (ASKRINDO'S) business units, namely General Reinsurance Division. The reinsurance activity has been run by NASIONAL RE since 1971, after ASKRINDO obtained an operating license to running general reinsurance in addition to running its major business, i.e. credit insurance, that was not against the Government Rule No. 1/1971. NASIONAL RE was formed as a response to the issuance of Ordinance No. 2/1992 stipulating that an insurance company is not allowed to run business simultaneously as a reinsurance company. In 1993, ASKRINDO started to prepare the segregation between credit insurance and reinsurance business, with an expectation that it would be an independent vast-growing entity. The company has grown steadily so that in 2006 was rated the best reinsurance company by Investor Magazine. Being on of the well-known reinsurance companies, we have marketed various reinsurance products including fire/property, motors, constructions all risks, marine cargo, marine hull, credit & surety bonds, liabilities, personal accident, miscellaneous and life, in October 28, 2005 with the aim to accepting sharia-based reinsurance business, since the authority has implemented a regulation that every sharia insurance company must reinsure this business to sharia reinsurance company only.
