AAJI Earns Revenue Rp. 254.22 Trillion

INDUSTRY.co.id - Jakarta -The Indonesian Life Insurance Association (AAJI) posted growth of 21.7% in the fourth quarter - 2017.

Chairman of AAJI Hendrisman Rahim, in his presentation to the media said that the total Life Insurance Industry's income in the fourth quarter of 2017 grew positively.

Total income (income) of the life insurance industry in the fourth quarter of 2017 recorded growth of 21.7%, to Rp. 254.22 trillion compared to the same period in 2016 amounting to Rp. 208.92 trillion and total premium income is the largest contributor to total industry income (income) of life insurance industry, which amounted to 77.0%. Said Hendrisman in Jakarta, Friday (16/3/2018).

According to him, total premium income alone grew by 17.2% from Rp. 167.04 trillion in 2016 to Rp. 195.72 trillion in the fourth quarter of 2017. The growth was influenced by the increase in total new business premiums and advanced premiums respectively by 22.4% and 8.4%.

Related to total premium income, the AAJI Chairman explained that premium growth was driven by the increase in premium income from bancassurance distribution channel which increased by 24.1% and contributed 45.9%.

He said, the agency channel increased by 11.8% with a contribution of 37.1%, subsequently alternative distribution channels which also increased 12.1% and contributed 17.0% while the premium income from telemarketing distribution channel also experienced a growth of 4.9% in the fourth quarter of 2017.

In terms of total investment in the fourth quarter of 2017, it also increased by 22.8% to Rp. 486.20 trillion over the same period of 2016 of Rp. 395.96 trillion. Of course, the increase in some of these indicators also affects growth in total assets of 24.6% or to Rp. 542.61 trillion compared to the same period in 2016 which amounted to Rp. 435.53 trillion closes Hendrisman.