SINGAPORE (Apr 11): Financial services provider Allianz says it has invested US$35 million ($45.8 million) in Indonesian ride-hailing platform Go-Jek through its digital investment unit, Allianz X.

The deal – which makes the Allianz group of companies Go-Jek’s sole international insurance shareholder – marks Allianz X’s first investment in a Southeast Asian-headquartered company, and its fourth transaction for the year.

Allianz Indonesia and Go-Jek entered into a strategic partnership two years ago for the former to provide health insurance services to Go-Jek drivers. In 2017, this offering was expanded to allow these drivers to purchase health insurance for their families.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook