JAKARTA – PT Asuransi Maximus Graha Persada Tbk (ASMI) or Maximus Insurance, will spin off a sharia business unit, establishing a sharia insurance company.

In the information disclosure quoted Monday (27/2), Norven Osel, Corporate Secretary of Asuransi Maximus Graha Persada, revealed that the spin off plan had been approved by its shareholder yesterday (23/2). The shareholders that joined the Extraordinary General Shareholders Meeting yesterday represented 8.23 billion shares, equal to 91.97% of the total issued and paid-up capital.

“They agrees upon the sharia unit spin off, transferring all sharia unit membership portfolio to a sharia insurance company authorised by Financial Services Authority (OJK),” Osel said.

Until September 2023, Maximus Insurance recorded income from premium of IDR 1.06 trillion, soaring 331% from IDR 247.41 billion seen in the same period in 2021. The underwriting income also proliferated 517% year-on-year (yoy) from IDR 13.46 billion to IDR 83.05 billion, whereas its gross claims shifted 30% yoy lower from IDR 188.01 billion to IDR 132.33 billion. (LK/ZH)