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Tugu Insurance recorded premium growth of 26.55% in Q1 2019

24 April 2019 04:18 PM  Company: PT. Asuransi Tugu Pratama Indonesia Tbk[TUGU]
Rp. 0  -2960 (0%)

JAKARTA. As of March 2019, PT Asuransi Tugu Pratama Tbk (Tugu Insurance) recorded a consolidated premium acquisition of US$ 69.59 million, 26.55% higher than the premium obtained by the company in the same period last year (US$ 54.99 million).

President Director of Tugu Insurance, Indra Baruna, explained that the positive trend was also seen in the performance of consolidated underwriting results, which grew by 1.92% from US$ 14.62 million to US$ 14.91 million.

"The growth in premiums and underwriting results occurred both in the parent company and its subsidiary, Tugu Reasuransi," Indra said in a written statement on Wednesday (24/4).

In the first quarter of 2019, the parent company's premium income increased by 11.27% compared to the same period the previous year. "We are optimistic that premium income will increase again because in a cycle, premium renewal from large accounts will be obtained at the beginning of the third and fourth quarters," Indra explained.

Throughout 2018, TUGU earned net premium income of US$ 175.98 million, an increase of 6.4% from the previous year (US$ 165.43 million). In the same period, underwriting income was recorded at US$ 146.47 million, up by 7.7% compared to the previous year of US$ 136.05 million. (AM/AR)

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PT. Asuransi Tugu Pratama Indonesia Tbk [TUGU]   Rp. 0   -2960 (0%)