Mayer Brown announced today that it represented PT CT Corpora (CT Corp), a leading conglomerate in Indonesia, in creating a joint venture with Prudential's Pruco Life Insurance Company to offer life insurance solutions in Indonesia.

The firm advised on CT Corp subsidiary PT Mega Corp's disposal of 49% of the shares in PT Asuransi Jiwa Mega Indonesia, to Pruco Life Insurance Company, subsidiary of US-headquartered Prudential Financial, Inc. CT Corp retains the remaining 51%.

The parties also entered into various agreements to distribute insurance products in the target through a multi-channel distribution strategy to CT Corp's customers.

The joint venture agreement closed on 3 July 2017, and the transaction has been approved by Indonesia's financial services regulator, OJK.

The Mayer Brown team was led by partner Rod Brown, and includes partners Gabriela Kennedy, Pieter de Ridder (tax), Ben Thompson and Hong Tran.