IFG Encourages Jasindo To Grow Healthyly, Prioritizes Company Governance With Integrity

JAKARTA - Indonesia Financial Group (IFG), Insurance, Guarantee, and Investment BUMN Holding always encourages PT Asuransi Jasa Indonesia (Jasindo) and all Holding Members to focus on strengthening the company's business and operational governance based on the principles of good corporate governance to grow as a healthy company in the future.

IFG Corporate Secretary Oktarina Dwidya Sistha said, since its founding until now, IFG is fully aware of the mandate given to make improvements and reinforcement in past dimensions, especially towards the company's business and operational practices.

The improvements and strengthening were carried out through initiatives to strengthen the influence and competitiveness of IFG and Holding Members in the domestic market as well as build a solid foundation in terms of healthy and sustainable business sustainability through measurable innovations, solid business models, and proper risk management management.

For general insurance, IFG encourages companies such as Jasindo to increase the market share of the general insurance business and become the number one market leader in targeted business lines. One of the strategic steps taken is to develop the role of insurance companies in the IFG ecosystem into a risk manager partner for partners and customers.

On the other hand, IFG also ensures operational excellence by utilizing information technology. The reason is, operational excellence is a basic necessity in competing in the market and achieving sustainable business growth.

"Our main goal is to bring IFG as a financial conglomerate that has best practices based on prudent, healthy, and sustainable corporate governance at this time and in the future," he said, in a written statement, Monday, September 2.

Sistha emphasized that her party fully supports efforts to eradicate corruption currently being carried out by the Corruption Eradication Commission (KPK) against past practices that occurred in Jasindo.

We respect the ongoing legal process. This is of course in line with our efforts to make improvements and strengthen, including fixing the focus and business model of Holding Members for healthy and sustainable growth," he said.

As is known, two cases of Jasindo's law that were being processed at the KPK occurred before 2019. With the spirit of improvement and strengthening, since 2021 Jasindo has carried out transformations in all lines, both business and governance.

Sistha added, by encouraging Jasindo to focus on the company's core business, including in the cargo, property, engineering, marine hull, motorized vehicles, satellites, and liability businesses, this transformation has an impact on the company's positive performance growth.

As is known, after restructuring and internal justification, Jasindo posted a brilliant performance in Semester I-2024. The company's premium income rose 24.42 percent YoY to IDR 1.77 trillion, so that the company's profit increased significantly by 656.42% YoY to IDR 120.89 billion compared to the previous period.

"We continue to encourage Jasindo to grow healthy by prioritizing transparency and integrity. More than that, Jasindo must also be present to provide added value for the community," he concluded.