ASEAN KEY DESTINATIONS
Manulife Indonesia records 19% growth in 2017 premium business
Manulife Indonesia reported on Wednesday strong business growth for 2017, driven primarily by year-on-year growth in new premium customers by 19 percent to Rp 4.4 trillion (US$ 312.79 million).
The insurance company also recorded a consolidated comprehensive income of Rp 2.6 trillion, a significant 290 percent increase from 2016.
“We are proud of what we have achieved in 2017. We will continue to focus on providing the right financial solutions and great services to meet our customers’ ever-evolving needs,” said Manulife Indonesia president director Jonathan Hekster.
He said bancassurance sales contributed 28 percent of the company’s performance, driven by the company’s strong relationship with its bancassurance partners.
Manulife Indonesia also experienced growth in total premiums and deposits with a 34 percent increase on the previous year. It maintained a robust capital position to support its overall business operations with 582 percent in risk-based capital (RBC) for conventional businesses and 372 percent for Tabarru Sharia. Both figures are well in excess of the regulatory minimum.
Manulife Indonesia also expanded its customer base and now serves and protects more than 2.4 million customers nationwide.
Meanwhile, Manulife Asset Management Indonesia (MAMI) president director Legowo Kusumonegoro said MAMI and Manulife Indonesia were committed to fully supporting education and financial inclusion through its investment solutions and services.
“We are proud to accompany Manulife Indonesia for almost 20 years in serving Indonesian families,” said Legowo.
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