Zurich Life expects 40% income increase<\/p>\n
JAKARTA (JP): PT Zurich Life Insurance Indonesia and its
\nsister company PT Zurich Insurance Indonesia predict a 40 percent
\nincrease in premium income from their latest life insurance
\nproduct launched here on Monday.<\/p>\n
Chief executive of Zurich Insurance Hans Martin Graf told a
\nnews conference that the group expected to increase its premium
\nincome this year to more than Rp 100 billion (about US$15
\nmillion) from about Rp 75 billion last year.<\/p>\n
Zurich Life president Ronald A. Cheyne explained that the new
\nproduct, ZuRICH LINK, was an investment vehicle for life
\nprotection which allows customers to set their own investment
\nchoice and determine the level of their life insurance
\nprotection.<\/p>\n
The product offers options for customers to invest in
\ninvestment funds set in four currencies of the rupiah, pound
\nsterling, U.S dollar and Australian dollar.<\/p>\n
Cheyne said customers could spread their investment in several
\ncurrencies or invest in a single currency, and could withdraw
\neither part or all of the investment at any time.<\/p>\n
Graf said his company was optimistic about the performance of
\nthe new product considering the budding economic recovery.<\/p>\n
\"We foresee robust growth in our business this year as the
\nfirst half already posted a 50 percent rise in our life
\ninsurance's premium income and 30 percent increase in nonlife
\npremiums.\"<\/p>\n
Zurich Life marketing head Handojo G. Kusuma said the product
\nwould give his company a leading position in the market and
\ncontribute greatly to the company's business portfolio.<\/p>\n
Kusuma estimated that the product, targeted at married
\nprofessionals, would be able to attract 2,000 policy holders by
\nthe end of the year.<\/p>\n
He said Zurich at present had about 30,000 life and nonlife
\npolicy holders in the country.<\/p>\n
Zurich Life, established in 1994, is a joint venture of Zurich
\nFinancial Services Group of Switzerland (ZFSG) and local company
\nPT Putra Surya Perkasa.<\/p>\n
Its sister company Zurich Insurance Indonesia, established in
\n1991, provides general insurance products such as for motor
\nvehicles, fire and other nonlife solutions.<\/p>\n
Graf said Zurich Life held between 3 percent and 4 percent of
\nIndonesia's life insurance market, ranking in the top five of the
\n61 life insurers in the country. (01)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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