Zurich completed the acquisition of Adira from Bank Danamon.

Zurich, a global insurer, completed its acquisition of Adira, which operates as an insurance company, from Bank Danamon, which provides general banking services for $414m. “Indonesia’s growing economy, rapidly expanding the middle class and low insurance penetration present great opportunities. The acquisition of Adira Insurance is a good illustration of our strategy of achieving positions of scale in attractive growth markets and strengthening our distribution channels,” Jack Howell, Zurich Asia Pacific CEO and of Zurich Executive Committee member.