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AKARTA: Life insurance firm PT AXA Mandiri Financial Services (AXA Mandiri) announced Thursday a total of Rp 353.84 billion (US$41.39 million) in net profits in the first half of this year, increasing 98 percent from the same period last year.

AXA Mandiri president director Albertus Wiroyo said that the strong performance was due to the strong growth of premiums sales, which were mostly contributed by unit link products sales, as well as the company’s strong bancassurance model.

“Our premiums sales hit Rp 2.4 trillion, rising 83 percent from the same period last year, with unit link products sales contributing up to 87 percent to the total premiums sold, or Rp 2.15 trillion, while the remaining Rp 306.31 billion were traditional products,” Albertus said in Jakarta, adding that the trend showed that most Indonesians still prefer insurance products which had investment potential.

AXA Mandiri finance director Iwan Pasila said the company aimed to raise the composition between unit link and non-unit link premiums to 75 percent and 25 percent, respectively.