Allianz Life Indonesia Books Strong Premium Growth in Q1

The Insurance provider, Allianz Life Indonesia, sees growth potential this year after its net premium income was up 42 percent year-on-year in this year’s first quarter as people shift to health products and protection. In the first quarter of this year, Allianz Life Indonesia’s net premium income amounted to IDR 3.37 trillion, a 42 percent jump from IDR 2.36 trillion during the same period last year. Net profit reached IDR 449.4 billion in the January-March period this year, a 98 percent surge from the same period last year. Allianz Life Indonesia’s Country Manager and President Director, Joos Louwerier, said that the growth of the company was fueled by its two main distribution channels: agency and bancassurance. Allianz Life Indonesia partners with Maybank in delivering life and health insurance products to consumers. The Company has an optimistic view for growth this year as Indonesia still has a low insurance penetration.

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