Equity worth IDR 18.3 trillion, Indolife reigns over 50 insurance companies
JAKARTA - PT Indolife Pensiontama recorded equity worth IDR 18.3 trillion as of March 2023, arriving at the top among 50 insurance companies with highest equity in the non-bank financial industry. With this achievement, the company is deemed ready for the upcoming plan of the Financial Services Authority (OJK) to group insurance services based on the companies’ equity.
Based on the data compiled by IDNFinancials today (17/7), Indolife booked assets of IDR 53.04 trillion as of March 2023, shifting from IDR 50.16 trillion in Q1 2022. Meanwhile, the liabilities clocked up to IDR 34.66 trillion, growing from IDR 30.62 trillion, while its equity shrank from IDR 19.53 trillion to IDR 18.38 trillion.
In 2022, Indolife recorded assets of IDR 52.58 trillion, investments of IDR 52.27 trillion, premium income of IDR 12.18 trillion, technical reserves of IDR 33.93 trillion, and risk-based capital of 148%. In 2021, this company booked assets of IDR 48.67 trillion, investments of IDR 48.44 trillion, premium income of IDR 13.31 trillion, technical reserves of IDR 29.52 trillion, and risk-based capital of 188%.
Indolife’s current competitors include PT Asuransi Jiwa Manulife Indonesia that posted equity of IDR 14.77 trillion as of Q1 2023, sliding down from IDR 15.71 trillion in Q1 2022. Total assets clocked up to IDR 59.53 trillion, down from IDR 59.88 trillion, contrasting with its liabilities that rose from IDR 44.16 trillion to IDR 44.76 trillion.
PT AIA Financial recorded equity of IDR 8.57 trillion as of March 2023, shifting from IDR 12.50 trillion in Q1 2022. Total assets shrank from IDR 52.64 trillion to IDR 44.68 trillion, as did its total liabilities from IDR 40.13 trillion to IDR 36.10 trillion.
The total equity of other insurance companies include PT Asuransi BRI Life of IDR 8.52 trillion, PT Asuransi Jiwa Sinarmas MSIG of IDR 7.7 triliun, PT Sun Life Financial Indonesia of IDR 7.4 trillion, PT Asuransi Jiwa Sequis Life of IDR 7.2 trillion, PT BNI Life Insurance of IDR 5.8 trillon, PT Asuransi Allianz Life Indonesia of IDR 5.7 trillion, and PT Prudential Life Assurance of IDR 5.6 trillion. (LK/ZH)
