Allianz premium growth reaches 89%

JAKARTA: Allianz Life Indonesia recorded a significant growth of gross written premium (GWP) and risk based capital (RBC) in the third quarter of the year.

The GWP increased by 89 percent to Rp 481.4 billion, from the corresponding period of last year, the company said in a statement on Thursday.

Individual life insurance contributed the most with 73.7 percent, followed by health insurance at 20 percent and group life insurance at 6.3 percent.

Meanwhile, the RBC reached 194 percent for the given period.

President director Jens Reisch expressed the firm's commitment to expanding its business in the country and providing clients with the best service, concluding that Indonesia is a promising market given the growth of its economy.

Allianz Life Indonesia is a subsidiary of German-based insurance and financial giant Allianz Group.

The firm has over 200 branches spread across 70 locations, in 35 cities in the country. It handles 250,000 corporate and individual clients. -- JP