Provident Capital Indemnity Secures Regulatory Approval in Indonesia

Online, December 17, 2010 (Newswire.com) - Provident Capital Indemnity, the specialist insurance and reinsurance company, is pleased to announce it has been approved as a Regulated Reinsurance company in Indonesia. Indonesia is strategically located between China and India and is the world's fourth most populous nation with the world's largest Muslim population.

Founded in 1991, Provident Capital Indemnity has total assets of over USD185million and has maintained a 5A/5AS Dun & Bradstreet rating since 1998.

Current growth areas for Provident include Financial Guarantee Bonds for the financial services sector and Surety Bonds to commercial and industrial organisations which guarantee the faithful performance of contractual obligations between parties and payment where the principal defaults.

The Company's President and major shareholder is Dr Vargas, its Board of Directors comprising Dr Vargas, Dr Claudio Ansorena, a former economist for the Inter American Development Bank (IDB) in Washington DC, David Aguilar who holds an MA in Economics from the University of San Francisco, and Eduardo Montero.

Dr Vargas, President of Provident Capital Indemnity, commented:
"Indonesia is strategically located in the South East Asia. We see significant value in securing a regulatory status in the region. We will continue working hard to extend the number of jurisdictions in which we are regulated."

Provident's insurance and reinsurance products are only available to recognised organisations and professionals within the insurance industry. For further information, please visit www.providentinsurances.com

Further information

Provident Capital Indemnity Newsdesk Tel: + (506) 2237-9475
Email: [email protected]