JAKARTA - PT Asuransi Kresna Mitra Tbk (ASMI) or Kresna Insurance is officially rebranding as PT Asuransi Maximus Graha Persada Tbk or Maximus Insurance.
The decision was made at the company's EGM on Friday (28/8). According to ASMI President Commissioner Magit Les Denny Tewu, the rebranding is part of the company's effort to increase its value.
"We are optimistic with the company's future plans, including rebranding and repositioning in order to increase its value. We are pursuing this strategic measure to attract investors that can strengthen the our positioning further," Mr Tewu said in an official statement received by IDNFinancials.com on Friday.
"This reflects our commitment to always improve the company's performance and maintain the confidence of our stakeholders in the company."
In 2019, ASMI posted a gross premium income increase by 77.04% year on year (yoy) to Rp 607.87 billion, dominated by the fire segment with Rp 401.71 billion and the motor vehicle segment by Rp 113.91 billion.
In addition, the company's underwriting revenue also grew 29.2% yoy to Rp 175.17 billion with its underwriting income rising 9.21% yoy to Rp 73.22 billion. Throughout last year, the company lowered its operating expenses by 4.25% to Rp 72.79 billion and posted Rp 9.4 billion in profit for the year. (MS)