AXA Mandiri Earns IDR 1.17 Trillion Net Profit In 2022

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT AXA Mandiri Financial Services (AXA Mandiri) posted a net profit growth of 13 percent of IDR 1.17 trillion. Where, net premiums were recorded at IDR 12.09 trillion in 2022.

The company has also paid insurance claims and benefits of IDR 11.97 trillion. That number increased 32 percent compared to the previous year, which was IDR 9.05 trillion.

President Director of AXA Mandiri Handojo G Kusuma through his official statement in Jakarta, Wednesday, said that the achievement of positive financial performance was the result of adaptation of digital transformation and innovation in products and services in accordance with current world developments.

According to the 19-year theme of AXA Mandiri in Indonesia, namely Leading the Way, is committed to becoming a leader in the Indonesian insurance industry by moving forward to follow developments and continuing to grow with stakeholders.

"By prioritizing customer first, AXA Mandiri seeks to become an innovative company, prioritizing technology, by implementing the principle of healthy business and complying with applicable regulatory provisions," said Handojo.

AXA Mandiri also again recorded a positive performance as reflected in the growth in investment value of 25% to Rp1.53 trillion, higher than the previous year which was recorded at Rp1.22 trillion.

The company's financial health is reflected in the company's Risk Based Capital (RBC) figure which is far above the minimum limit of the Financial Services Authority (OJK).

The RBC AXA Mandiri figure was recorded at 478 percent or almost four times the minimum limit set by the OJK, which is 120 percent.

The company's total assets in 2022 were recorded at IDR 40.15 trillion with equity increasing by 7 percent from IDR 3.02 trillion to IDR 3.24 trillion.

Furthermore, Handojo explained that AXA Mandiri's performance is in terms of sharia insurance products. Sharia products support an increase in sales in the sharia distribution route from IDR 77 billion to IDR 95 billion this year, or an increase of 23 percent compared to last year.

This growth was followed by a Health product that contributed Rp586.5 billion.