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Indonesia's Bumiputera 1912 Sets Income Target At Us$1.17bln

 

Tuesday, Aug 30,2011, 10:08:07 PM   Click:

Indonesian life insurance company Asuransi Jiwa Bersama Bumiputera 1912 said it hopes to earn up to Rp10 trillion (US$1.17 billion) in premium income in 2012.

Next year, Bumiputera is set to grab a 15 per cent share of the life insurance market in the country up from 10 per cent at present, its president Dirman Pardosi said.

Dirman said in the 1960's, the old company dominated the life insurance market in the country with a market share of 56 per cent.

He said the company will need at least 10 years to recover the dominating position if it continues to chalk up steady growth.

In the first seven months of the year Bumiputera recorded Rp3 trillion in premium income, up 10 per cent from the same period last year.

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