Tugu Mandiri seek retail insurance segment
by Edwina
JAKARTA: PT Asuransi Jiwa Tugu Mandiri, a collection of life insurance companies, targeting the retail market segment in the next year.
Life insurance companies with the largest shareholder of the Pertamina Pension Fund is running the life insurance business and special health segment of the corporation.
Tugu Mandiri president director Maryoso Sumaryono said the company is preparing the infrastructure to support the penetration into the retail market such as the concept of insurance products, distribution channels, and compensation for the agent.
"We plan to enter the retail market for the company's sustainable growth," he explained, today this.
Therefore, he added, the preparation for entering the retail market will commence in the second half later.
PT Asuransi Jiwa Tugu Mandiri, owned insurance company PT Pertamina Pension Fund, posted a net profit of Rp24, 69 billion in 2010, up 24.69% of the acquisition of the previous year, namely Rp20, 97 billion.
Based on the published financial statements of the company, the profit increase in line with gross premium income increased by 76.17% to Rp76, 17 billion from Rp45, 23 billion.
Meanwhile, the company claims decreased by 2.95% thinner than Rp60, 28 billion in 2009 to Rp58, 50 billion.
Total investment also increased by 32.05% from Rp226, 14 billion in 2009 to Rp298, 62 billion in 2010. (parachute)