Allianz expects $6m income

JAKARTA (JP): Life insurance company PT Asuransi Allianz Life Indonesia disclosed on Thursday that its gross premium income for 1999 should rise 200 percent to Rp 42 billion (US$6 million) from Rp 14.1 billion last year.

Allianz Life president Laurence Warburton said the company would continue to expand its products and services to attract new policy holders for continued improvement in income next year.

It will also continue to expand its presence in Indonesia by opening new branches, demonstrating its commitment to the country, he said.

It will open a new office in Semarang, Central Java, early next year.

Asuransi Allianz Life, a joint venture between giant German insurer Allianz AG and local company PT Kresna Karya, operates 30 branch offices in 20 cities across the country.