Asuransi Astra's premium incomes up

Asuransi Astra's premium incomes up

JAKARTA (JP): The publicly-listed PT Asuransi Astra Buana expects a 20 percent increase in its premium incomes from motor vehicle insurance to Rp 72 billion (US$31 million) this year, the company's president, Willy Suwandi Dharma, said yesterday.

He said Asuransi Astra's latest financial accounts had not been audited yet but that provisional estimates put its gross premium income from motor vehicle insurance at Rp 60 billion last year, almost twice the Rp 36 billion booked in 1994.

Besides motor vehicle insurance, Asuransi Astra also provides fire insurance, household insurance, burglary insurance, personal accident insurance, medical insurance and cargo insurance.

Asuransi Astra also provides hull & aviation insurance, fidelity guarantee insurance, business interruption insurance, liability insurance, money insurance and engineering insurance.

The company's manager for business support Indra Baruna said that Asuransi Astra settles about Rp 1.5 billion worth of claims monthly from automobile owners both under the comprehensive (total) loss and all risk schemes.

He predicted that claims would rise in the Idul Fitri holidays due to the large number of motor vehicles leaving the city for other provinces in Java.

He said that Astra's share of the motor vehicle insurance market was running at 12 percent of the 100,000 new vehicles insured per annum.

Car sales in the country come to around 300,000 units, but most of them are not insured by their owners. (kod)