Allianz Indonesia maintains business growth in 2021
JAKARTA - PT Asuransi Allianz Life Indonesia (Allianz Life Indonesia) recorded a positive performance throughout 2021, with Gross Written Premium of IDR 19 trillion or a 12.3% growth compared to the previous year. This performance was supported by business growth from various distribution channels, especially agency and Bancassurance. With positive business growth, Allianz Life Indonesia recorded total assets of Rp 42.8 trillion. Meanwhile, the company's financial health as measured by the Risk-Based Capital (RBC) ratio is recorded at 405% in 2021, far above the regulatory requirement of 120%.
“Allianz Life Indonesia is committed to realizing its goal of protecting more Indonesians. We run the company's business and operations in line with the strategic pillars of growth, quality and experience. In going through challenging times over the past two years, we have always prioritized the safety and health of all employees, ensuring solutions and services that meet the needs of customers and business partners, as well as maintaining business performance," said David Nolan, Country Manager & President Director of Allianz Life Indonesia. .
Allianz Life Indonesia has proven its commitment to provide protection to customers by paying claims and benefits of IDR 13.5 trillion in 2021, an increase of 20.4% compared to the previous year, for more than 223,000 life and health insurance claims.
Allianz Life Indonesia managed to record and become the market leader for Weighted New Business Premium (WNBP)* with a growth of 11% and a market share of 12%. This achievement continues until the first quarter of 2022, Allianz Life Indonesia is still at the forefront with a WNBP market share of 10.6% (Source: AAJI Quarter IV Report 2021 and AAJI Quarter I Report 2022). (LM)