PT Asuransi Mitra Pelindung Mustika, or in short MPM Insurance, was incorporated on May 8, 2012, and started operations in October 2012 when it received its general insurance license from the Ministry of Finance. MPM Insurance is the youngest member of PT Mitra Pinasthika Mustika (MPM), a consumer automotive company with businesses covering motorcycle distribution and retail, lubricant oil production and sales, automotive logistic services and financial services. Although the company is relatively new, MPM Insurance is led by experienced management with proven track records. Currently, MPM Insurance is focusing on motor vehicle, property and cargo insurance.
MPM is the controlling shareholder of MPM Insurance with a 55% stake, while Bareika Capital through Orchid Indonesia and the management own a 25% and 20% stake respectively. MPM itself, is a subsidiary of Saratoga Group, a well-known investment company founded by Edwin Soeryadjaya and Sandiaga Uno.
Our shareholders are fully commited to support the growth of MPM Insurance as an integral part of MPM Group’s business strategy.
- MPM brings wide business networks from its subsidiaries such as MPM Finance, Sasana Artha Finance, MPM Rent and third-party dealers in East Java and East Nusa Tenggara.
- Affinity Equity Partner brings the strategy and operational rigors within MPM group.
- Saratoga synergizes its financial strength and reliability to stand behind the commitment.
- Bareika Capital brings expertise in managing investment portfolios and risks as well as implementing prudent financial approach.
- Management has 50 years of accumulated experience in the general insurance industry.