Ciputra Life Achieves Positive Growth In 2023: Premium Soars 43 Percent And Comprehensive Profit Increases 18 Times

JAKARTA - PT Asuransi Ciputra Indonesia (Ciputra Life), managed to record a very positive performance in 2023, by posting a total premium income of IDR 460.1 billion, or growing by 43 percent compared to 2022. This positive trend continues to be shown in the first semester of 2024 performance, where Ciputra Life managed to record a total premium income of IDR 295.1 billion, or grew by 46 percent compared to the first semester of 2023.

Although Ciputra Life only started operating in 2017, the life insurance company, which is headed by Hengky Djjojosantoso, continues to show its competence, to become one of the best life insurance companies in Indonesia.

The achievement of premium income is mostly driven by contributions from Life Insurance Credit products, both to protect customers who take mortgage loans and motor vehicle loans. The marketing of credit life insurance products is carried out in collaboration with Banks and Financing Companies.

To date, Ciputra Life has collaborated with more than 20 Banks and Financing Companies. In addition to credit life insurance, Ciputra Life also markets simple health insurance products and traditional lives, which are marketed through the distribution channels for telemarketing and digital, namely through the Ciputra Entrepreneurs Club program.

As proof of the Company's commitment to providing the best protection and services to customers, Ciputra Life has paid claims of IDR 63 billion throughout 2023, an increase of 18 percent compared to 2022. President Director of Ciputra Life Hengky Djjojosantoso explained that Ciputra Life, who is only seven years old, has managed to score a comprehensive profit of IDR 8.45 billion in 2023.

"It was recorded that Ciputra Life first scored a comprehensive profit in the 6th year of operation of IDR 460 million in 2022. This makes Ciputra Life one of the fastest new life insurance companies in Indonesia to print a net profit," said Hengky, in a written statement, Wednesday, August 14.

This positive trend of comprehensive profit growth will continue in the first semester of 2024, amid the fluctuation of stock market and bond pressure, Ciputra Life managed to record a comprehensive profit at the end of June 2024 of IDR 10.85 billion or grew by 127 percent compared to the first semester of 2023.

Along with the growth of premium income and positive profit, Ciputra Life also always maintains a strong capital adequacy ratio as reflected in the achievement of the Risk-Based Capital Ratio (RBC) of 262 percent by the end of 2023, far above the minimum stipulated by regulators of 120 percent. This is certainly a good provision for Ciputra Life to continue to grow and develop its business.

In order to provide services and reach a wider market segment, Ciputra Life officially launched Ciputra Medical Insurance products, namely pool health insurance as a solution for the company in ensuring the best health protection for all its employees.

Ciputra Medical Insurance provides a variety of comprehensive and flexible benefits for companies in providing health protection for employees, which can be adjusted based on the needs and availability of the company's budget. A comprehensive health protection for employees for 24 hours includes hospitalization protection, outpatient care, dental care, maternity care and glasses.

Ciputra Medical Insurance also increases convenience in the employee health administration process, monitoring and controlling of health costs, which will ultimately increase employee productivity and improve the image of the company in the eyes of all stakeholders. Safe and comfortable employees in work are the best assets for the company.

On this occasion, the launch of Ciputra Medical Insurance products was carried out by handing over the symbolic Ciputra Medical Insurance policy to Mrs. Junita Ciputra representing the policyholders of PT Ciputra Development Tbk and the main commissioner of Ciputra Life as Ciputra Life's commitment to provide the best health protection to all Ciputra Group employees and families, totaling nearly 10,000 participants.

Direktur Ciputra Life Listianawati yang turut memberikan sambutan saat konferensi pers dengan media sangat optimism, produk terbaru yang diluncurkan ini, akan diterima oleh pasar, karena memiliki beberapa kelebihan dan fleksibilitas yang dapat dirasakan oleh setiap nasabah.

The Ciputra Life vision is to build a better future. For this reason, Ciputra Life is always committed to innovating and improving quality products and services and providing added value for customers, both individual customers and corporate customers," concluded Listi.