JAKARTA. The state-owned holding of insurance and securities, PT Bahana Pembinaan Usaha Indonesia (Persero) or Indonesia Financial Group (IFG), reported an unaudited, consolidated net profit of IDR 3.44 trillion in 2022. It was 0.5% higher than IDR 3.42 trillion seen in 2021.

Robertus Bilitea, President Director of Indonesia Financial Group (IFG), confirmed that that slight 0.5% increment in its net profit resulted from increases in underwriting and financial services income, as well as building management income. Increases were also seen in investment returns and other sources of revenue, including mandatory fine revenue to Jasa Raharja, as he listed further during the Public Hearing Meeting with Commission VI of House of Representatives of Indonesia in Senayan Complex, Jakarta, last Monday.

The growth was also visible in gross premium income of IFG, amounting to 0.5% year-on-year (yoy) from IDR 26.71 trillion to ID 26.84 trillion in 2022. For the record, the gross premium income was brought in from all subsidiaries, especially IFG Life, Jamkrindo, and Jasa Raharja.

IFG is the state-owned holding company that manages PT Asuransi Kerugian Jasa Raharja (Jasa Raharja), PT Jaminan Kredit Indonesia (Jamkrindo), PT Asuransi Kredit Indonesia (Askrindo), PT Asuransi Jasa Indonesia (Jasindo), PT Asuransi Jiwa IFG (IFG Life), PT Bahana Sekuritas, PT Bahana TCW Investment Management, PT Bahana Artha Ventura, PT Bahana Kapital Investa, and PT Grahaniaga Tatautama. On the other hand, IFG Life is a life insurance company that was formed to handle the major case of PT Asuransi Jiwasraya, which based on the audit result, still had obligations of IDR 59.7 trillion in total. (AM/ZH)