JAKARTA, March 11 (Reuters) - Insurance firm Allianz Indonesia expected total premiums to rise 16 percent this year to 5 trillion rupiah ($544 million), boosted by a growing number of customers, a senior executive said on Thursday.
Allianz Indonesia, a subsidiary of Europe's top insurer Allianz, has a wide range of businesses, including life, general, health, pension and sharia insurance.
President Director of Allianz Life Indonesia Jens Reisch said in a statement: 'we are optimistic to serve more customers this year and to achieve a joint premium target of 5 trillion rupiah.'
The company posted a 17 percent increase in total premium last year to 4.29 trillion rupiah, with almost 80 percent generated by the life insurance business.
It had 1.48 million customers last year, up from 1.36 million in 2008, supported by 20,000 sales agents and business partners and plans to sign up more bank partners this year.
Allianz Indonesia has total assets under management of 9.09 trillion rupiah in 2009, up 38 percent from a year earlier.
It expected assets to rise to 10 trillion rupiah this year.
The company currently has 47 percent of its assets invested in a mutual fund, 29 percent in the money market, 16 percent in equities and the remaining 8 percent in fixed income.
($1 = 9,190 rupiah)
(Reporting by Sonya Angraini; Editing by Ed Davies)
((ga.arka@thomsonreuters.com; Reuters Messaging: ga.arka.reuters.com@reuters.net; +62 21 384 6364 ext 911)) Keywords: ALLIANZ INDONESIA/INSURANCE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Allianz Indonesia, a subsidiary of Europe's top insurer Allianz, has a wide range of businesses, including life, general, health, pension and sharia insurance.
President Director of Allianz Life Indonesia Jens Reisch said in a statement: 'we are optimistic to serve more customers this year and to achieve a joint premium target of 5 trillion rupiah.'
The company posted a 17 percent increase in total premium last year to 4.29 trillion rupiah, with almost 80 percent generated by the life insurance business.
It had 1.48 million customers last year, up from 1.36 million in 2008, supported by 20,000 sales agents and business partners and plans to sign up more bank partners this year.
Allianz Indonesia has total assets under management of 9.09 trillion rupiah in 2009, up 38 percent from a year earlier.
It expected assets to rise to 10 trillion rupiah this year.
The company currently has 47 percent of its assets invested in a mutual fund, 29 percent in the money market, 16 percent in equities and the remaining 8 percent in fixed income.
($1 = 9,190 rupiah)
(Reporting by Sonya Angraini; Editing by Ed Davies)
((ga.arka@thomsonreuters.com; Reuters Messaging: ga.arka.reuters.com@reuters.net; +62 21 384 6364 ext 911)) Keywords: ALLIANZ INDONESIA/INSURANCE (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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