JAKARTA - PT Asuransi Allianz Life Indonesia (Allianz Life) booked Rp 13.2 trillion in Gross Written Premiums/GWP in 2019 – a 23.8% increase from the figure recorded in the previous year. Agency and bancassurance distribution channels were the main drivers to this growth. Aligned with GWP growth, the company booked Rp 1.18 trillion of Net Income – a 48.7% increase compared to 2018.
“We remain focused on and committed to insuring more people in Indonesia. Through our multi- distribution strategy, we believe we can provide primary insurance solutions and more accessible services to our Customers. They are entitled to convenience and unique experiences, from the day they apply for insurance coverage to the day they may file a claim,” said Joos Louwerier, Country Manager and President Director Allianz Life Indonesia.
As an information, Allianz Life disbursed more than 262,000 insurance claims and benefits worth Rp 7.8 trillion in 2019 – a 14.2% increase from 2018.
According to the AAJI report in the fourth quarter of 2019, Allianz Indonesia recorded an 18.2% increase in Weighted New Business Premiums, surpassing average market growth of 11.1%. In addition, Allianz Indonesia saw a 20.7% increase in Total Weighted Premiums. Allianz Life’s growth continued in the first quarter of 2020, when the company saw a 27.6% increase in Weighted New Business Premiums – far surpassing the average market growth that dipped 4.4%. Allianz Life also recorded a 21.2% increase in its Total Weighted Premium. (LM)