Bank Negara Indonesia (BNI) is reportedly
expecting to receive a larger amount of fee-based income in 2012
from its bancassurance business after securing deals with several
insurance companies.

The Jakarta Post reported that BNI has signed
agreements with its subsidiary PT BNI Life Insurance, PT Asuransi
Jiwa Sequis Life, PT Asuransi Cigna and PT AIA Financial.

Under the agreements, BNI would sell the
insurance products from those companies from its branches across
the nation.

BNI’s vice president for wealth management and
investment, Teddy Atmadja was quoted as saying that the bank
expects between 750 and 1,000 of its total priority banking
customers will purchase a bancassurance product.

Darmadi Sutanto, BNI’s commercial and retail
director, reportedly added that BNI would offer insurance products
that are combined with insurance products for its customers.