Asuransi Astra issues new policy

JAKARTA (JP): PT Asuransi Astra Buana is to launch a new policy, an integrated housing insurance scheme called "Garda Puri", under its program to diversify its insurance services.

"Garda Puri will provide an integrated housing insurance policy from any risks of robbery, fire and personal accidents," Astra's business manager Indra Baruna said.

Indra told journalists yesterday that Garda Puri's premium payment is set at 0.29 percent per annum of a house's value, including furniture and valuable goods, but excluding the value of land.

"We expect to attract 2,500 applicants in the first year with expected premiums of about Rp 500 million (US$213,037)," he said. "The first 100 applicants will get a discount of 10 percent."

Commenting on the company's performance, Indra said the management has projected a 20 percent increase in its gross premium revenue to Rp 125 billion from last year's Rp 104 billion.

"In the first six months of this year, we already booked gross premiums of Rp 69 billion," he said.

Indra also said that as of last year end, fire insurance, with total premiums of Rp 23 billion, contributed 22.2 percent to Astra's total portfolios.

He said vehicles insurance is still the largest contributor to the portfolios. As of last year end, motor vehicle insurance's portfolio exceeded Rp 63 billion, or 60 percent of the total portfolios.

Insurance for cargoes contributed 10.2 percent to last year's total portfolios, engineering 1.5 percent, personal accidents 2 percent and others 3.6 percent.

Indra also said that Astra's profit increased steadily from only Rp 1.4 billion in 1993 to Rp 4.6 billion in 1994 and to Rp 13 billion last year. (alo)