Vehicle sales boost insurer's revenue

Vehicle sales boost insurer's revenue

JAKARTA (JP): More vehicle sales in Indonesia are likely to
boost PT Asuransi Astra Buana's premiums revenue this year, an
executive said here yesterday.

The company's president, Willy Suwandi Dharma, said the firm
expected to generate about Rp 100 billion (US$41.1 million) in
revenue from vehicle insurance this year, compared to Rp 68
billion last year.

"Our total premium revenue is expected to surge to Rp 170
billion this year from Rp 136 billion last year," he said after
presenting prizes to the company's premium holders.

Willy said the domestic vehicle sales could increase to
400,000 units in 1997 from about 350,000 last year.

"We aim to increase the number of vehicle premium holders from
the about 200,000 at the end of 1996 to about 300,000 by the end
of this year," he said.

The company was also offering incentives, including discount
cards for purchases at the Astra Group's firms, to attract new
customers.

Willy said his company wanted to increase its investment
revenue to Rp 21 billion in 1997 from Rp 18 billion in 1996.

He said Astra Buana, with its total assets of Rp 166.25
billion as of last September, was the sixth largest loss
insurance company in Indonesia in terms of assets. (13)