Positive Performance, Jasindo Recorded Premium Revenue Of IDR 4.02 Trillion Last Year

TANGERANG - PT Asuransi Jasindo recorded an increase in premium income by 21.65 percent on an annual basis (year-on-year/yoy) to Rp4.02 trillion and net profit jumped 52.91 percent yoy to Rp157.33 billion in 2024.

"This positive performance is the result of efforts to strengthen risk mitigation, where Jasindo focuses on implementing prudent underwriting and adjusting the risk profile to the company's risk apetite so that the company's positive performance can be more sustainable," said Jasindo Insurance President Director Andy Samuel in Tangerang, Banten, Friday night, quoted from ANTARA, Saturday, April 26.

He said the positive performance was also accompanied by a maintained Risk Based Capital (RBC) level of 150.40 percent as of the end of 2024, higher than the minimum threshold set by the Financial Services Authority (OJK) of 120 percent.

He conveyed that the company's positive performance was supported by a number of main business lines, one of which was property insurance which recorded underwriting results of Rp. 145.23 billion, an increase of Rp. 59.71 billion or 69.82 percent yoy.

The engineering insurance business line also became one of the largest contributors to underwriting results with a value of Rp. 26.07 billion, while the underwriting results of cargo insurance were recorded at Rp. 20.34 billion, an increase of 138.98 percent yoy.

Not only an increase in underwriting results, Andy said that a number of Jasindo Insurance products also experienced premium growth and expansion of the portfolio.

He said cargo insurance grew 27.64 percent in line with the increase in national distribution and trade activities, engineering insurance increased 15.29 percent driven by expansion and increased national strategic infrastructure projects, as well as marine hull insurance up 20.63 percent which reflected an increase in shipping fleet protection needs.

Meanwhile, vehicle insurance grew 10.12 percent, which showed growth in the national retail and automotive distribution segments, while offshore energy insurance jumped 51.96 percent, which emphasized Jasindo's dominance in the oil and gas (oil and gas) sector.

In addition, energy onshore insurance recorded a high growth of 93.79 percent in line with the increase in energy projects on land and insurance LIABILities recorded an increase of 3.42 percent, indicating a positive trend in awareness of legal risk mitigation and compensation.

"This success is further strengthened by an effective risk mitigation strategy and the application of prudential principles in risk management. A thorough improvement in the loss ratio is one of Jasindo's main keys in maintaining healthy and sustainable business performance," said Andy Samuel.