New SEOJK, Allianz Indonesia and Bank QNB Indonesia to continue offer product solution
JAKARTA – After the implementation of Financial Services Authority Circulatory Letter (lit. Surat Edaran Otoritas Jasa Keuangan/SEOJK) No.5/2022 regarding unit-linked insurance products, PT Asuransi Allianz Life Indonesia (Allianz Indonesia), along with PT Bank QNB Indonesia Tbk (BKSW), gain confidence about their existing insurance products, Allianz Wealthlink Protection Life and Allianz Wealthlink Prestige Life 2.
Allianz Indonesia and BKSW has initiated its collaboration on providing these insurance products since 2020. They claimed that those existing products have complied with SEOJK No.5/2022.
Both products, mostly designed for affluent users, are intended to support the development of QNB First segment of BKSW, aligning with its 2023 target. “In order to attract users from this segment, we will continue to promote our products and services, including bancassurance,” Victor Teja, Head of Retail Banking of Bank QNB Indonesia, explained in the press release issued today (31/3).
In 2022, BKSW recorded IDR 863.9 billion of interest income with IDR 400.7 billion of net loss. Despite its weak position, BKSW had shown massive improvement from IDR 1.58 trillion of loss in 2021. (ZH)