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ALLIANZ INDONESIA REPORTS 48% RISE IN INCOME TO US$437 M

 

Tuesday, Nov 23,2010, 7:28:45 PM   Click:

JAKARTA, Nov 23 Asia Pulse - The Allianz group in Indonesia reported gross premium income of Rp3.93 trillion (US$437 million) in the first nine months of this year or an increase of 48 per cent year-on-year.

PT Asuransi Allianz Life contributed Rp3.39 trillion and Allianz Utama Indonesia Rp 545.5 billion to the premium income.

Allianz Life recorded an increase of almost 75 per cent in gross premium income year-on-year.

However, the performance of Allianz Utama, which operates in general insurance, however, declined with gross premium down from Rp713.4 billion in the same period last year.

Allianz Utama's CEO Dong Nguyen attributed the decline to adoption of more prudent process of underwriting.

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