Lippo Life's profits up

JAKARTA (JP): Publicly-listed life insurance firm PT Lippo Life announced a 86 percent increase in its net profit to Rp 20.1 billion (US$8.5 million) last year from Rp 10.8 billion the previous year.

The company said on Saturday that its premium revenues rose by 27.8 percent to Rp 386.6 billion last year from Rp 302.3 billion in 1994.

Of last year's total premium revenues, Rp 86.6 billion came from investment revenues, which indicated a 183 percent leap over the previous year's Rp 30.6 billion.

Lippo Life, which claims a 18 percent share gain in the country's life insurance market, recorded total assets of Rp 630.7 billion as of last December, compared to Rp 409.7 billion as of the end of 1994. (rid)