JAKARTA – Three out of 18 listed insurance companies with market cap of over IDR 3.5 trillion are revealed to score impressive net profit in Q1 2024. Two out of those three are apparently under Panin Group.

Based on IDNFinancials data today (2/7), PT Panin Financial Tbk (PNFL) reported revenue of IDR 2.25 trillion, down from IDR 2.35 trillion in Q1 2023. Net profit attributable to the parent entity was IDR 418.85 billion, up 26.28% year-on-year (yoy) from IDR 331.68 billion seen in the same period in 2023.

PT Paninvest Tbk (PNIN) was sported with total revenue of IDR 2.25 trillion in Q1 2024, down from IDR 2.35 trillion (yoy). The net profit attributable to the parent entity, however, increased 23.79% yoy from IDR 228.88 billion.

Meanwhile, PT Asuransi Tugu Pratama Tbk (TUGU) recorded revenue of IDR 1.11 trillion in Q1 2024, up 33.89% yoy from IDR 835.59 billion in Q1 2023. Its net profit attributable to the parent entity reached IDR 198.75 billion, slipping 78.54% yoy from IDR 923.39 billion seen in Q1 2023. (LK/ZH)