Sequis Life Records Gross Premium Income Of IDR 3.03 Trillion Throughout 2021

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JAKARTA - PT Asuransi Jiwa Sequis Life recorded a Gross Premium Income of Rp. 3.03 trillion, which came from 86 percent of advanced premiums worth Rp. 2.60 trillion and 14 percent of new business premiums of Rp. 427.13 billion.

Meanwhile, the profit after tax collected was Rp563.34 billion.

Meanwhile, Sequis Life's Total Assets still recorded Rp. 19.22 trillion. Sequis Life was also able to maintain a strong capital position to support its overall business operations with a Solvency Level Achievement Ratio (risk-based capital/RBC) of 511 percent.

Meanwhile, during the first quarter of 2022 year-on-year (yoy) total premium income was recorded at Rp739.44 billion.

In this quarter, Sequis' Total Investment Management Funds amounted to IDR 18.27 trillion and Sequis Life's Total Assets reached IDR 19.44 trillion, an increase of 1 percent from the same period in 2021.

Sequis Life President Director & CEO Tatang Widjaja said that 2021 will be a year full of challenges.

"However, Sequis' commitment to customers continues as seen from the number of Claims and Benefits paid to Sequis Life customers of Rp2.9 trillion," he said in a written statement, Friday, July 22.

As for the first quarter of 2022, the Total Claims and Benefits paid by Sequis Life amounted to more than Rp672.4 billion. Since the beginning of the pandemic until May 2022, Sequis has also paid a total of more than IDR 400 billion in death and health claims related to COVID-19.

In accordance with the company's main priority in managing long-term investment risks, in 2022, Sequis will continue to maintain its investment portion in fixed income assets, stocks and money markets that are safe and liquid.

The largest investment portion is still in government bonds, BUMN, and private bonds with AAA and AA ratings, the other part is placed in shares and majority deposits in bank books 3 and 4, which are actively monitored for liquidity risk and soundness level.

Sequis entrusts investment management to selected Investment Manager (MI) partners who have a good track record and reputation.

These are all real implementations of Sequis in managing the quality and liquidity of each investment asset, ensuring the smooth payment of claims, and protecting all customers.

Tatang added, in addition to accelerating digitization in all aspects of sales, services, and processes, Sequis also continues to push for updates to existing products.

In addition, Sequis Life also develops products that are segmented according to market needs and are ready to collaborate with online platforms to increase profitability.

In early 2022, Tatang said, Sequis Life presented a product called Sequis System and Organ Function Insurance (SOFI).

This product is a critical illness insurance that provides benefits if there is a risk of system failure and organ function.

In addition, this product also protects the risk of critical illness including critical illness that has never existed before to answer the needs of people who are increasingly aware of the need to have a financial safety net in case of a critical illness attack.