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AIA reports Rp 1.6 trillion profit in 2023, highlighting successful growth strategies
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IA delivered a strong financial performance in 2023, reflecting its prudent financial management and focus on business sustainability. This aligns with AIA’s commitment to help millions of families in Indonesia live healthier, longer, better lives. The company recorded an after-tax profit of Rp 1.6 trillion, total comprehensive income of Rp 918 billion and total premium income of Rp 10 trillion.
AIA president director Sainthan Satyamoorthy said, “AIA's financial performance in 2023 reflects our success in executing long-term business strategies and priorities. It also reflects our highest commitment to maintain trust from various stakeholders, including customers and business partners. We strive to achieve high-quality business growth and strong operational income, supported by a professional, trustworthy and digitally enabled distribution channel.”
AIA reported a solvency ratio above regulatory requirements, highlighting strong financial health and positioning it as an industry leader with high levels of solvency capital. AIA recorded Risk-based capital (RBC) ratio of 434 percent for conventional business, 3,146 percent for Tabarru Syariah funds and 12,584 percent for Syariah Operator funds. Additionally, AIA managed a 37 percent increase in sum insured to Rp 749 trillion, recorded total claims of Rp 10 trillion and has paid out cumulative claims and benefits of Rp 49 trillion over five years. These achievements reflect AIA as a trusted life insurance company.
AIA continues to innovate based on customer needs, including high net worth individuals. In 2023, AIA launched AIA Altitude, a loyalty program to provide added value and facilities for health and lifestyle needs.
AIA is also transforming the public perception of insurance through AIA Vitality, a health and wellness program that offers a unique insurance experience to motivate customers to adopt healthier lifestyles.
Focusing on positive social impact, AIA has implemented environmental, social and governance (ESG) principles through initiatives such as the One Policy One Tree program in collaboration with Coldplay Music of the Spheres in Indonesia and One Tree Planted, to plant a tree for each policy. Additionally, AIA has also launched AIA Healthiest School program, which aims to educate students on healthy living.
AIA's positive performance has also been recognized in the industry. In 2023, AIA received several prestigious awards, including Customer Service Initiative of the Year: Tanya Anya - Arial Insurance Asia Award 2023, AIA Vitality - Fortune Indonesia Change The World 2023, Education Insurance of The Year Indonesia: AIA Pedia - Insurance Asia Award 2023, and Insurance Market Leader Award 2023 for Life Insurance - Media Asuransi.
