Lippo Life's profit rises

JAKARTA (JP): Publicly listed insurance firm, Lippo Life, announced over the weekend that its unaudited pre-tax profits increased by 243 percent to Rp 54 billion (about US$22.5 million) last year from Rp 22 billion in 1995.

According to the company's statement, it recorded a 149 percent increase in net income to Rp 50 billion in 1996, from Rp 20 billion in 1995. It's earning per share last year rose to Rp 130 from Rp 77 in 1995, the company announced.

Lippo Life, a subsidiary of Lippo Group, said its revenues rose to Rp 614.7 billion last year from Rp 457.3 billion in 1995.

The company said the ratio of its net income to total revenues almost doubled to 8.2 percent in 1996 because it achieved higher level of efficiency. (02)