Lippo Life revises target

Lippo Life revises target

JAKARTA (JP): Publicly listed insurance firm, Lippo Life, has
revised upwards its pretax profit projection for this year to Rp
146.7 billion (US$60.9 million) from Rp 114.8 billion.

The company revised its net income projection to Rp 130
billion from Rp 100 billion.

As a result the company's earnings per share is expected to
reach Rp 340, lifting its price earnings ratio to 7.6 based on
yesterday's closing price of Rp 2,650 per share, the company
said.

The company said the increase in projected profit was because
of better sales or premium income, expected to be Rp 578 billion,
and higher investment income of Rp 263 billion.

Greater cost efficiency, both acquisition costs and operating
expenses, contributed to the increase, the company said.

Lippo Life, a subsidiary of Lippo Group, said it would have
revenue of more than Rp 847 billion this year. The previous
projection was Rp 610 billion.

Last year, the company's net income rose 149 percent to Rp
50.1 billion from Rp 20.1 billion in 1995. (02)