IFG Life Revenue Soared 334 Percent To IDR 3.3 Trillion In Semester I 2024

JAKARTA - Finance Director of PT Asuransi Jiwa IFG (IFG Life) Ryan Diastana Firman said that the company's revenue on a consolidated basis increased significantly by 334 percent year-on-year (yoy) to Rp3.3 trillion in the first semester of 2024 thanks to the acquisition of Mandiri Inhealth.

"The acquisition of Mandiri Inhealth is an important milestone in the IFG Life journey as a business entity that has the vision of being the best life and health insurance company in Indonesia," Ryan Diastana Firman said in his statement, quoted from Antara, Tuesday, August 6.

He stated that the joining of Mandiri Inhealth as a subsidiary of IFG Life is also an important catalyst that encourages business performance and long-term growth prospects.

"As the controlling shareholder, IFG Life is certainly committed to supporting the development of Mandiri Inhealth's business and improving services to all policyholders of the two companies," he said.

Ryan said that the increase in the company's revenue was also supported by an increase in consolidated gross premium income to Rp3.6 trillion in the first semester of this year, from the previous Rp243.2 billion in the first semester of 2023.

In addition, he said that prudent investment measures with good and measurable risk management also provided positive results with an increase in investment returns of 27.73 percent yoy.

In the first semester of 2024, the company recorded consolidated investment results of IDR 940.3 billion, an increase from the previous year's IDR 736.2 billion.

Ryan stated that these various achievements had a positive impact on the increase in the company's assets on a consolidated basis of 20.27 percent yoy to Rp34.1 trillion.

Not only acquiring Mandiri Inhealth, he said that various corporate actions carried out by his party were related to transformation and innovation to create new businesses that were sustainable and also supported the company's positive performance.

"We are grateful that the various efforts we have made have yielded good results throughout the first semester of 2024, and we are optimistic that this good performance achievement will continue until the end of the year", he added.