JAKARTA - The net profit of PT Asuransi Jasa Tania Tbk (ASJT) by Q3 2019 was recorded at Rp 7.61 billion, 20% lower than its record in Q3 2018 of Rp 16.27 billion, mainly caused by lower gross premium income, underwriting income, and higher reinsurance expenses.
As quoted from its public expose sheet, the company's gross premium income fell from Rp 195.79 billion on Q3 2018 to Rp 172.91 billion. Its underwriting income also fell from Rp 115.79 billion to Rp 97.42 billion. The decline in premium income was due to policy closure due to unpaid premiums and reduced renewal premiums for non-preferred risk objects.
By Q3 2019, ASJT recorded a cash ratio of 103% and a current ratio of 179%. (LK/AR)