TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Prudential led Indonesian market in 2019 with premium income of Rp 25 trillion
Prudential Indonesia booked premium income of Rp 24.96 trillion in 2019, about 13 percent of the Rp 186.8 trillion the industry generated last year.
Change Size
Prudential Indonesia's office in Jakarta (Courtesy of/asuransiprudential.web.id)
L
ife insurance company PT Prudential Life Assurance (Prudential Indonesia) led the life insurance market in 2019 with premium incomes amounting to almost Rp 25 trillion (US$1.60 billion), the highest in the industry.
According to data from the Indonesian Life Insurance Association (AAJI), the company’s total income grew 24 percent to Rp 29.6 trillion in 2019 from Rp 23.87 trillion in the previous year. The premium income accounted for Rp 24.96 trillion of the total income in 2019, about 13 percent of the Rp 186.8 trillion the industry generated last year.
Prudential Indonesia was the market leader in the life insurance industry in 2019.
Despite this, the 2019 premium income was 1.85 percent lower in comparison with the Rp 25.43 trillion booked in the previous year. It was a continued decline since the company booked a record premium income of Rp 26.84 trillion in 2017.
Prudential Indonesia president director Jens Reisch said on Tuesday that the company’s strong performance was attributed to growing customer faith, the company’s solid fundamentals, as well as good corporate governance and responsible investment practices.
“Based on this favorable position, the company is well-placed to withstand the challenges, which have arisen since the beginning of the year,” Reisch said in a statement issued after the company held a virtual press conference.
According to the AAJI, Prudential Indonesia’s total investment funds, known as assets under management (AUM), increased by 3.29 percent to Rp 74.47 trillion in 2919 from Rp 72.1 trillion the previous year.
