Jakarta (Antara Bali) - The Indonesian association of life insurance (AAJI) said the country's life insurance industry recorded a 30 percent growth year-on-year in income to Rp120.86 trillion in the first nine months of the year.
In the first three quarter of last year, the country's life insurance industry recorded an income of Rp92.82 trillion.
AAJI general chairman Hendrisman Rahim attributed the improved performance of the industry to significant increase in investment and premium income.
"This indicates greater awareness of the customers of the importance of life insurance," Hendrisman said here on Friday.
He said income from investment by life insurance companies grew sharply by 585.7 percent to Rp30.20 trillion in the January-September period this year from Rp4.41 trillion in the same period in 2013.
"The growth of the investment gain was attributable to improved performance of the country's stock market and general elections this year," he said.
Investment by life insurance industry grew 22.2 percent to Rp292.6 trillion from Rp239.3 trillion .
"The increase contributed to the industry's assets that grew 26.7 percent to Rp337.6 trillion from Rp266 trillion," he said.
Premium from old policy holders grew 22.7 percent to Rp37.57 trillion from Rp30.63 trillion.
Hendrisman, however, noted a decline in premiums from new policy holders by 9.6 percent to Rp49.35 trillion in the first nine months of 2014 from Rp54.58 trillion in the same period last year.
"The decline was caused by the country's economic slowdown and investors waiting and seeing before buying insurance and financial products," he said. .
Claims paid by the industry surged 7.2 percent to Rp55.77 trillion including medical claims that grew 21.6 percent to Rp5.25 trillion and death claim up 12.4 percent to Rp4.5 trillion. (WDY)
COPYRIGHT © ANTARA News Bali 2014
In the first three quarter of last year, the country's life insurance industry recorded an income of Rp92.82 trillion.
AAJI general chairman Hendrisman Rahim attributed the improved performance of the industry to significant increase in investment and premium income.
"This indicates greater awareness of the customers of the importance of life insurance," Hendrisman said here on Friday.
He said income from investment by life insurance companies grew sharply by 585.7 percent to Rp30.20 trillion in the January-September period this year from Rp4.41 trillion in the same period in 2013.
"The growth of the investment gain was attributable to improved performance of the country's stock market and general elections this year," he said.
Investment by life insurance industry grew 22.2 percent to Rp292.6 trillion from Rp239.3 trillion .
"The increase contributed to the industry's assets that grew 26.7 percent to Rp337.6 trillion from Rp266 trillion," he said.
Premium from old policy holders grew 22.7 percent to Rp37.57 trillion from Rp30.63 trillion.
Hendrisman, however, noted a decline in premiums from new policy holders by 9.6 percent to Rp49.35 trillion in the first nine months of 2014 from Rp54.58 trillion in the same period last year.
"The decline was caused by the country's economic slowdown and investors waiting and seeing before buying insurance and financial products," he said. .
Claims paid by the industry surged 7.2 percent to Rp55.77 trillion including medical claims that grew 21.6 percent to Rp5.25 trillion and death claim up 12.4 percent to Rp4.5 trillion. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2014