Niaga Cigna aims for 35% growth

JAKARTA (JP): PT Niaga Cigna Life booked Rp 11 billion (US$1.6 million) of new premium income as of November, a 10 percent increase over 1998's Rp 10 billion, the insurance company said over the weekend.

The company's marketing and communication director Raeshita Suardi said in a statement that the premium income was expected to increase next year by 35 percent.

The insurance company has Rp 83 billion in reserves and announced that it expected that by the end of 1999, the company's total assets would exceed Rp 104 billion ($14.9 million) due to a significant surplus of its dollar-based assets and liabilities. (06)