BRI Life

The story of BRI Life begins not as an independent startup, but as a strategic initiative. It was established on October 28, 1987, by the Pension Fund of Bank Rakyat Indonesia (BRI), one of Indonesia's largest banks. Initially known as PT Asuransi Jiwa Bringin Jiwa Sejahtera, its primary purpose was to complement its parent's services by providing life insurance, particularly for BRI's loan customers. For years, the company operated under the wing of the pension fund, gradually expanding its services beyond captive customers to the general public and adding Sharia-compliant insurance in 2003. A pivotal moment came in December 2015 when Bank BRI officially acquired a majority stake in the company from its own pension fund. This move solidified the insurer's position as a core part of the bank's ecosystem. Following the acquisition, the company rebranded in 2017 to its current name, BRI Life, to align more closely with its parent. More recently, in 2021, FWD Group, a Hong Kong-based insurer, acquired a significant minority stake in BRI Life. This wasn't a takeover but a strategic partnership, combining BRI’s massive customer base of over 120 million with FWD's digital insurance expertise to further penetrate the Indonesian market.