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NEWS UPDATES Asean Affairs  April  9, 2018  





Pertamina’s insurance subsidiary records 71.65 percent net profit growth

Insurance company Asuransi Tugu Pratama Indonesia (ATPI), a subsidiary of state-owned energy giant Pertamina, has reported 71.65 percent growth in net profit to Rp 258.4 billion (US$19.9 million) in 2017, from Rp 166.3 billion the previous year.

It represented a rebound from its slow performance in the past five years with annual growth averaging 8 percent.

ATPI president director Indra Baruna said in Jakarta on Thursday that the increase in net profit was strongly supported by its main insurance products in the energy sector by providing insurance to big corporations offshore.

From the premium's income, Tugu Pratama has generated Rp 702.7 billion in revenue, up from Rp 654 billion in 2016, while the returns from the company’s investment contributed Rp 193.7 billion, an increase of 16.07 percent from the previous year's return.

In trying to improve its performance, Indra added, his company plans to introduce new insurance products outside of its core market this year.

“We will introduce new insurance products targeting medium-sized companies,” Indra told journalists at a press conference, adding that the company was focusing on the automotive industry.

In addition to insurance in the energy sector, Tugu Pratama has insurance products for cargo and shipping, life, sharia and health, among others.



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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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