Tugu Insurance Earns IDR 1.32 Trillion Net Profit In 2023

JAKARTA - PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) posted a net profit of IDR 1.32 trillion in 2023. Meanwhile, in 2022 it will be IDR 347.15 billion.

This subsidiary of PT Pertamina recorded a profit per basic share attributable to owners of the parent entity of IDR 372 per share in 2023.

"Increase compared to Rp195 per share in 2022," said TUGU Director of Finance and Corporate Services Emil Hakim quoting Antara.

The company's surge in net profit was supported by revenue which increased 16.10 percent (yoy) to IDR 3.59 trillion in 2023, compared to IDR 3.09 trillion in the previous year.

In detail, net premium income grew 8.20 percent (yoy) to IDR 3.08 trillion and investment revenue grew 64.4 percent (yoy) to IDR 579.83 billion in 2023.

Then, other operating income increased 1.0 percent (yoy) to IDR 402.09 billion in 2023.

In the midst of an increase in revenue, the company's total revenue burden actually decreased by 24.10 percent (yoy) to IDR 1.96 trillion in 2023, compared to IDR 2.59 trillion in the previous year.

Thus, making profit before the final tax and income tax expense soared by 213.9 percent (yoy) to IDR 1.62 trillion in 2023.

As of December 31, 2023, the company recorded total assets of IDR 25.13 trillion, with total equity recorded at IDR 10.27 trillion and total liabilities recorded at IDR 14.85 trillion.

PT Asuransi Tugu Pratama Indonesia Tbk (TUGU) will hold an Annual General Meeting of Shareholders (AGMS) on Monday, April 29, 2024, physically and through the Electronic General Meeting System KSEI (EASY.KSEI) facility provided by KSEI.

PT Pertamina (Persero) is the controller with 58.50 percent share ownership of TUGU, and the remaining 15.89 percent is owned by UOB Kay Hian Pte Ltd, and 5.29 percent is owned by Samsung Fire and Marine Insurance.

Meanwhile, the percentage of share ownership by the public or the public is 20.30 percent.