This Insurance Company Owned By The Duo Hartono Conglomerate Receives IDR 70 Billion Profits In 2020

BCA Building. (Angga Nugraha / VOI)

JAKARTA - PT Asuransi Jiwa BCA (BCA Life) achieved a positive performance in 2020. This insurance company owned by Michael Bambang Hartono and Robert Budi Hartono posted a profit of IDR 70.03 billion throughout 2020.

Citing the financial statements of BCA Life, as of December 31, 2020, BCA Life's profit has turned around in profits. Whereas in the previous year, BCA Life recorded a loss of Rp. 2.9 billion.

The profit was supported by BCA Life's premium which reached Rp. 998.8 billion, an increase of 18.9 percent (year on year / yoy) from the previous year's Rp. 840.07 billion. Then, in 2020 the claims paid reached IDR 441.7 billion, an increase of 89.3 percent (yoy) from 2019 valued at IDR 233.3 billion.

BCA Life also managed to record asset growth, namely in 2020 valued at Rp1.46 trillion or an increase of 27.12 percent (yoy) from 2019 amounting to Rp1.15 trillion. The growth in assets is also in line with the increase in the company's investment value accompanied by positive investment performance.

Over the past year, BCA Life managed to record investment returns of IDR 73.2 billion. This value grew by 28.5 percent (yoy) compared to the previous year of IDR 56.9 billion, amidst the performance of the capital market which was hit by the COVID-19 pandemic.

For information, BCA Life shares are owned by BCA Sekuritas by 99.9 percent and BCA Insurance by 0.01 percent. The shares of BCA Sekuritas are 90 percent owned by Bank BCA, and 10 percent by Chandra Adisusanto.

Bank BCA shares were narrowed by 54.94 percent of PT Dwimuria Investama Andalan, which is a company of the Hartono duo. They are the richest people in Indonesia according to Forbes, with a wealth of 38.8 billion United States (US) dollars or around Rp.543.2 trillion.