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Jakarta Post

Allianz books 37.2 percent in premium growth

  • The Jakarta Post

Jakarta   /   Thu, April 12 2012   /  11:18 am

Insurance firm Allianz Indonesia booked a 37.2 percent increase in premium revenues to Rp 7.48 trillion (US$815.3 million) in 2011 from Rp 5.45 trillion in the previous year.

Allianz Indonesia’s overall revenue growth was largely contributed to by its subsidiary in the life insurance sector, Allianz Life Indonesia, which booked a 44.5 percent revenue growth, generating Rp 6.78 trillion last year compared to Rp 4.69 trillion in 2010.

“We are going to set a new generation of insurance products that cover child, pregnancy and elderly area. Allianz Indonesia maintains a current premium price despite inflation to keep our competitiveness,” said Joachim Wessling, CEO of Allianz Life Indonesia during a press conference on Wednesday.

The company’s subsidiary for the general insurance sector, Allianz Utama Indonesia, suffered a revenue premium drop to Rp 699.48 billi...