Jasindo's profit increases

JAKARTA (JP): State-owned general insurance firm PT Asuransi Jasa Indonesia (Jasindo) said on Wednesday that its 1998 unaudited net profit rose by 9.63 percent to Rp 41.44 billion (about US$4.8 million) from to Rp 37.80 billion in 1997.

The company announced that its level of profitability dropped slightly to 16.54 percent in 1998 from 17.37 percent in the previous year.

Jasindo is one of the country's largest insurance firms with 25 years of experience. The company has formed partnerships with leading foreign names, including Germany's Allianz and Japan's Tokio Marine.

The company, which claims to have a strong experience in space and aviation insurance, got a new president on Wednesday, Munir Syamsudin, who replaced Amir Imam Poero. (rei)