Tugu Insurance (TUGU) Profits Surge by 76.87% Due to Improved Underwriting

The general insurance issuer, PT Asurability Tugu Pratama Indonesia Tbk (TUGU), recorded significant profit growth in the first half of 2026. Profit attributable to the owners of the parent entity surged 76.87% year-on-year to Rp480.29 billion, up from Rp271.55 billion during the same period last year.

According to financial reports published on the Indonesia Stock Exchange (IDX), this profit spike was supported by improving underwriting performance. Insurance service revenue rose 16.32% year-on-year to Rp4.45 trillion from Rp3.83 trillion. Conversely, insurance service expenses dropped sharply by 34.81% year-on-year to Rp3.14 trillion from Rp4.81 trillion in the first half of 2025.

This improvement resulted in insurance service results nearly doubling to Rp602.95 billion, compared to Rp324.94 billion in the first half of 2025. In terms of profitability, pre-tax profit also increased by 47.84% to Rp554.78 billion, compared to Rp375.25 billion in the previous year’s corresponding period.

After deducting final tax and income tax, the current period profit was recorded at Rp493.51 billion, up from Rp311.47 billion in the first half of 2025. Meanwhile, investment income reached Rp140.50 billion, while other operating income was recorded at Rp321.29 billion. However, other operating expenses also increased to Rp504.08 billion, compared to Rp397.68 billion in the same period last year.

Regarding the balance sheet, TUGU’s total assets as of 30 June 2026 grew by 6.41% to Rp29.49 trillion, compared to the end-2025 position of Rp27.71 trillion. The increase in assets was primarily supported by the rise in insurance and reinsurance contract assets to Rp12.88 trillion, from Rp10.59 trillion at the end of last year.

On the other hand, total liabilities increased to Rp19.44 trillion from Rp17.50 trillion at the end of 2025, following the rise in insurance and reinsurance contract liabilities to Rp17.66 trillion from Rp15.37 trillion. Total equity was recorded at Rp10.01 trillion, remaining relatively stable compared to the end-of-year position of Rp10.17 trillion. Equity attributable to the owners of the parent entity reached Rp9.18 trillion.

In addition to the profit growth, TUGU also recorded earnings per share (EPS) of Rp135, an increase from Rp76 in the first half of 2025.