AXA Mandiri Records Net Profit Up 13.2 Percent In 2023

AXA Mandiri's financial report (Photo: Antara)

JAKARTA - PT AXA Mandiri recorded a net profit after tax rose 13.2 percent to Rp1.33 trillion in 2023. This amount is compared to the previous year's Rp1.17 trillion.

AXA Mandiri President Director Handojo G Kusuma said the achievement was seen from the quality business portfolio.

"Our net interest rose 13 percent at IDR 1.327 trillion, while our asset value was quite stable, up about 2 percent to IDR 41.1 trillion," said Handojo G Kusuma quoting Antara.

According to him, this can be achieved thanks to business growth and prudent investment placement strategies.

He also said that over the past year, his party received a gross premium income of IDR 11.682 trillion, supported by an increase in premiums from new customers which grew 5.2 percent, or IDR 1.69 trillion.

Meanwhile, the company's net investment revenue rose 1.3 percent compared to the previous year to Rp1.55 trillion, supported by interest income from securities.

"We have a strong basis for continuing to build sustainable business growth by leveraging potential in the insurance industry, which is still widespread," said Handojo.

He also stated that in the past year, his party had launched a number of insurance products for various segments of society, including micro, retail and sharia, each of which was equipped with its own special benefits to answer the needs of each segment.

In the second half of last year, AXA Mandiri launched Mandiri Flexi Protection Insurance which provides the benefits of life protection and protection from 77 critical diseases.

In addition, the company also released the Mandiri Micro-Protected Life Insurance (Si Jitu) which offers affordable premiums for all people, including Micro, Small and Medium Enterprises (MSMEs), to workers in small and medium sectors.

Meanwhile, at the beginning of this year, namely last March, AXA Mandiri presented Sharia Amanah Protection Insurance which provided protection benefits when participants were still alive until the end of the insurance period based on sharia principles.

Handojo said that his party was also trying to ensure that the company's business growth was accompanied by the provision of added value for various stakeholders.

"Therefore, we continue to improve financial literacy activities for the segment of the community in need and ensure that our operational activities have a positive impact on the community and the surrounding environment," added Handojo.