Reliance Insurance Wins 2 Awards in Best Insurance Award 2020

WartaEkonomi Award 2020

Jakarta – Reliance Insurance won 2 Best Insurance Award 2020 each TOP 5 Financial Performance of Indonesia Best Insurance Award 2020 with Assets 500M-1T, Category General Insurance and TOP 5 Financial Performance of Indonesia Best Insurance Award 2020 with Assets Below 100M, Category Sharia General Insurance.

The award was given at the Indonesia Best Insurance Award 2020 “Toward Resiliency, Sustainability, and Continuity of the Insurance Sector” held by virtually through Live Video Conference, Tuesday (27/10/2020).

This award was won by Reliance Insurance for its outstanding financial performance throughout 2019 based on research results from Research and Consulting.

Reliance Insurance itself recorded a gross premium income growth of 40.31% on an annual basis to IDR 709.81 billion throughout 2019. Not only that, the total investment of an insurance company led by Mardiana as President Director this also increased by 5.55% from Rp292.3 billion to Rp308.5 billion.

Then, the growth in investment income also deserves thumbs up. Compared to the previous year, Reliance Insurance’s investment income throughout 2019 managed to grow by 105.56%, from Rp9.92 billion to Rp.20.40 billion.

Meanwhile, the performance of the Sharia Business Unit was equally brilliant, gross contribution income was recorded to have grown by 189.29% from Rp9.292 billion in 2018 to Rp26.881 billion in 2019. Its underwriting surplus was also able to grow 1,451.17% (year on year / yoy) to IDR 12,371 billion.

The increase in contribution and underwriting surplus will also encourage the growth of profits and total assets in 2019, respectively 2,040.15% and 36.59% to Rp7.99 billion and Rp58 billion, respectively.

In line with the development of its business and also in order to comply with OJK regulations regarding Separation of Sharia Units, PT Asuransi Reliance Indonesia Sharia Business Unit has submitted a Work Plan for Separation of Sharia Units to OJK to establish a full-fledge sharia general insurance company by 2024. ( ARI )

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