Taspen Life Earns IDR 86.38 Billion Net Profit In 2022

President Director of Taspen Life Ibnu Hasyim. (Photo: Doc. Antara)

JAKARTA - PT Asuransi Jiwa Taspen (Taspen Life) posted a net profit of IDR 86.38 billion in 2022.

Taspen Life President Director Ibnu Hasyim said the figure showed growth of 37.00 percent compared to the previous year which was recorded at IDR 63.06 billion.

"Taspen Life is committed to continuing to provide good performance in providing professional services and fulfilling obligations to participants, and always developing technology, developing targeted products and providing added value to participants, by always prioritizing the principle of prudence for the benefit of all participants," he said in a written statement, quoted from Antara, Monday, June 5.

The company's positive performance is also based on the achievement of a gross premium of IDR 1.45 trillion, an increase of 14.69 percent compared to the previous year's IDR 1.26 trillion.

This figure is better than the total industrial premium income which decreased by 5.3 percent.

For the increase in net profit, it also has an impact on increasing total assets from IDR 6.02 trillion in 2021 to IDR 6.60 trillion in 2022, an increase of 9.63 percent.

Furthermore, Ibnu explained that the company's condition in a healthy condition was also reflected in the risk based capital (RBC) ratio in 2022 of 209.67 percent, which increased from the previous year's RBC of 175.37 percent.

According to him, Taspen Life's performance growth in 2022 cannot be separated from the expansion of market share, product diversification, and service improvement to participants.

With continued positive performance growth, it is hoped that it will be able to provide confidence and comfort for participants in entrusting insurance management to Taspen Life.

Taspen Life's consistency in achieving sustainable positive performance is also reflected in the achievement of the first quarter of 2023, which recorded a positive performance with a profit achievement of IDR 20.62 billion or a growth of 85.18 percent when compared to the same period the previous year of IDR 11.13 billion.

The company's gross premium income also grew by 15.22 percent or reached Rp341.17 billion when compared to the same period in the previous year of Rp296.11 billion.

In line with the company's revenue rate, total assets as of March 2023 increased to Rp6.89 trillion, an increase of 17.77 percent compared to the previous year, which was Rp5.85 trillion.

This achievement was also supported by an increase in Taspen Life investment results which rose 26.97 percent from IDR 76.09 billion the previous year to IDR 96.62 billion in 2023.