Bumiputera targets premiums hike

JAKARTA: Asuransi Jiwa Bersama Bumiputera 1912 is targeting to increase its insurance premiums by 10 percent to Rp 3.34 trillion (US$363 million), according to the company's president director, Madjdi Ali.

Madjdi said on Tuesday that Bumiputera's premiums increased by 20.4 percent to Rp 3.05 trillion in 2004, slightly higher than the targeted Rp 3.01 trillion.

Bumiputera's total assets increased from Rp 6.58 trillion in 2003 to Rp 7.2 trillion in 2004.

The company's payments in 2004 reached Rp 1.96 trillion -- of which 72 percent or Rp 1.41 trillion, was paid in claims, for among others, the maturity of insurance contracts and the remainder for education insurances, reversionary bonuses and termination of contracts.

"Meanwhile, the company's liquidity ratio soared to 150.47 percent from 121.54 percent in the same period," Madjdi said. -- JP/004