LIGHT Insurance Issuer

Based on data from the Indonesia Stock Exchange (IDX) and information on the official website of each company, as many as 13 insurance issuers have published their financial statements for the first quarter of 2021.

Meanwhile, the total insurance issuers reached 15 companies consisting of 13 general insurance, one conventional life insurance, one sharia life insurance, and one reinsurance. From all published reports, Bisnis noted that there were nine issuers that recorded premium growth during the first quarter of 2021. PT Asuransi Jiwa Sinarmas MSIG Tbk. (LIFE) received the highest premium of Rp. 1.2 trillion, while recording the highest growth, namely 93.8% (year-on-year/yoy) from the previous Rp. 628.8 billion. PT Pemeringkat Efek Indonesia (Pefindo) analysts Hasnalia Hanifah and Danan Dito assess that the Covid-19 pandemic has had a moderate impact on the acceptance of new business in the insurance and reinsurance industry. Weaker macroeconomic conditions and slower top-line growth have lowered the underwriting performance of the industry. Nevertheless, Pefindo hopes that the insurance and reinsurance industry can maintain a sufficient buffer on solvency provisions, with adequate industry liquidity.

|•SOURCE•| Image :IDX CHANNEL |

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