Sewu reports surge in income

Sewu reports surge in income

JAKARTA (JP): Insurance company Sewu New York Life announced
on Monday that it had recorded a 40 percent increase in its total
premium income in 2000 to Rp 346 billion ($36.4 million) over the
previous year.

New individual policy sales also recorded an increase of 35
percent to Rp 129.6 billion last year compared to 1999, the
company said in a statement.

"Our excellent sales performance has been due to our continued
strong and positive presence in (Indonesia)," Sewu president
Michael Allan said in the statement.

The company had also opened 10 new branches throughout
Indonesia, giving it a total of 55 branches here.

Sewu vice president Tatang Widjaja said that additional
capital of about $4.5 million had been injected, giving a total
paid up capital of more than Rp 87 billion.

Total assets as of December 2000 stood at Rp 688 billion, he
said. (tnt)