JAKARTA - PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) managed to record a profit for the year of IDR 271 billion. This achievement decreased when compared to the previous year amounting to IDR 505 billion. The decline in profit was due to the impact of the global economic and business slowdown due to the COVID 19 pandemic.
Tugu Insurance's Oil and Gas Marketing Director Budi P Amir said, “2020 is a year full of challenges. The COVID 19 pandemic, the economic downturn, the flood disaster at the beginning of the year, the decline in the ICP (Indonesia Crude Price), the decline in property prices and the weakening of the stock market were the main contributors to the decline in Tugu Insurance's profit."
According to TUGU’s Financial Statement, Tugu Insurance's consolidated total income decreased by 14.88% to IDR 2.46 trillion from IDR 2.89 trillion in the previous year. Total consolidated expenses in 2020 decreased by 6.21% to IDR 2.12 trillion in line with the effectiveness and efficiency of the process, while earnings per share attributable to owners of basic and diluted parent entities also decreased to IDR 149 per share from the previous year amounting to IDR 258 per share. (LM)