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Dream - PT Prudential Life Assurance (Prudential Indonesia) and PT Prudential Sharia Life Assurance (Prudential Syariah) recorded double-digit growth for new annualized premium equivalent (APE) values, amounting to 15%.
In combination, both companies reported a total premium income and contributions of Rp22 trillion with total assets reaching Rp66 trillion. Specifically for Prudential Indonesia, the company reported double-digit growth of up to 22% based on APE throughout 2023. The achievement from conventional insurance business experienced above-average growth in the industry.
Prudential Indonesia recorded a total premium income of Rp19 trillion, with total assets of Rp60 trillion, and is trusted to manage investment funds of up to Rp56 trillion.
The company also continues its commitment to protect and support customers with claim payments and benefits amounting to Rp17 trillion or more than Rp46 billion per day.
"We would like to express our gratitude for the trust of our customers, marketing agents, and all parties involved, which has enabled Prudential Indonesia to maintain a solid performance throughout 2023, while also preserving our leadership in the life insurance industry in Indonesia,"
words President Director of Prudential Indonesia, Tony Benitez, in Jakarta, Thursday, April 25, 2024.
Meanwhile, the gross contribution from Prudential Syariah in 2023 reached more than Rp3.2 trillion. This acquisition grew by 38 percent compared to 20222.
Including in it is a contribution of Tabarru' Fund amounting to Rp1.2 trillion, which also experienced growth compared to last year. On the other hand, Prudential Syariah also recorded total assets of Rp6.7 trillion, including investment managed assets of Rp5.5 trillion. In 2023, the company has disbursed claims and benefits amounting to Rp2.2 trillion or around Rp6 billion per day, consisting of Tabarru' benefit claims of Rp1.3 trillion, as well as investment benefit claims of Rp0.9 trillion.
The claim is paid based on the principle of mutual assistance among participants from Prudential Syariah.
As information, PT Prudential Life Assurance (Prudential Indonesia) was established in 1995 and is part of Prudential plc, which provides life and health insurance as well as asset management, with a focus on Asia and Africa. Meanwhile, PT Prudential Sharia Life Assurance (Prudential Syariah) started operating in 2022 as a result of the business expansion process through the separation of the Sharia Business Unit of PT Prudential Life Assurance (Prudential Indonesia) into a separate entity.
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