BCA Life records premium income of IDR 1.4 trillion for 2022

Jakarta (Armfalcon.com) – Throughout 2022, PT Asuransi Jiwa BCA (BCA Life) managed to record a premium income of IDR 1.4 trillion, an increase of five percent compared to the previous year or year-on-year (yoy).

The company also recorded a comprehensive profit of IDR 51.8 billion, a significant increase of 29 percent compared to the previous year.

President Director & Chief Executive Officer (CEO) of BCA Life, Christine Setyabudhi in Jakarta, Monday said that amid the momentum of global economic recovery, the company’s positive performance was driven by innovation and transformation on various fronts.

“We continue to explore the potential to develop market segments and prepare innovative products that can meet today’s people’s needs,” he said in a written statement.

According to him, with a total of 511,989 customers, the company has fulfilled its obligation to pay claims and benefits of IDR 649.9 billion.

In addition, he continued, maintaining a strong capital position to support its overall business operations with a solvency ratio (risk-based capital/RBC) of 428.8 percent.

On the other hand, the subsidiary of PT Bank Central Asia Tbk (BCA) also recorded a growth in assets of 22 percent, namely to IDR 2.35 trillion.

“Supported by technical reserves which increased by 20 percent compared to the previous year to IDR 1.57 trillion, it has further strengthened the Company’s position to navigate a challenging 2023,” said Christine.

According to him, the growth of health insurance has increased since the pandemic, when health was the main and most important thing that needed to be maintained. Quoting AAJI data, health insurance claims throughout 2022 reached IDR 11.47 trillion, an increase of 35.1 percent when compared to the same period in the previous year where most of the claim payments came from individual health claims.

“This indicates that life and health protection is urgently needed, especially with the continued emergence of various new variants of Covid-19 as well as various other health protection needs that are needed by the community,” he said.

Reporter: Subagyo
Editor: Guido Merung
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