Bringin Life sees higher net profit

JAKARTA: Life insurance company PT Bringin Life expects net profit this year to increase by 11.4 percent from last year's 43.98 billion.

Company president Sriwiyono said on Wednesday that premium income was projected to grow by 16.5 percent to Rp 650 billion from Rp 466.06 billion despite the upcoming general elections, which would reduce effective working days to only 11 months or less during the year.

To maintain its solvency, Bringin Life is targeting an increase in its risk based capital (RBC) from last year's 115.41 percent to at least 130 percent, higher than this year's government target of 120 percent.

To increase its performance and meet the challenge of globalization, Bringin Life is developing e-insurance by implementing a program called Virtual Private Network (VPN) which will enable real time on-line communication with its working units and business partners throughout the country. -- JP