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MPM Insurance Receives “Sangat Bagus” Predicate by Infobank

01 Aug 2019

On Thursday, 25th July 2019, Infobank Magazine gave awards to insurance companies during the "20th Infobank Insurance Awards 2019" at The Westin Hotel, Kuningan, Jakarta. These insurance companies are the companies that have achieved their best performance in 2018, both life and general insurance. Based on the research conducted by the Biro Riset Infobank (birI), out of 127 rated companies (74 general insurance and 53 life insurance), 40 general insurance companies and 13 life insurance companies won the title "Sangat Bagus".

For general insurance company, the range of scores ​​formed by the Biro Riset Infobank is 0-50 classified as "Tidak Bagus", 51-65 classified as "Cukup Bagus", 66-80 classified as "Bagus", and 81-100 classified as "Sangat Bagus". These scores ​​are obtained based on 10 rating criteria year 2019: (1) risk based capital ratio (RBC), (2) liquidity ratio, (3) investment ratio with current assets against total assets, (4) investment adequacy ratio, (5 ) growth of gross premiums and own capital, (6) ratio of own retention premiums to own capital, (7) ratio of total expenses (claims, businesses, and commissions) to net premium income, (8) ratio of underwriting results compared to net premiums, (9) balance of investment returns with net premium income, and (10) pre-tax profit (loss) ratio compared to the average own capital and comprehensive profit (loss) ratio compared to the average own capital.

PT Asuransi Mitra Pelindung Mustika (MPM Insurance) has won the award of "Infobank Insurance Awards 2019". MPM Insurance ranked top with a total score of 90.65% and received the "Very Good" predicate on "Rating 127 Asuransi Versi Infobank 2019", based on the category of general insurance companies with a gross premium of Rp 250 billion -

MPM Insurance's business success in 2018 is reflected in its growing financial performance report; seen from assets, investments, own capital, gross premiums and profits. From the data shown by the Biro Riset Infobank, the total MPM Insurance assets in 2018 grew by 31.12% to Rp 1.03 trillion from the previous year. Likewise, the investment value grew 36.01% or increased by Rp 132.34 billion in 2018. In MPM Insurance's financial data, gross premium income grew by 24.02% from Rp 381.67 billion in 2017 to Rp 473.36 billion. While the profit earned by this company was Rp 74.78 billion last year.

The positive performance obtained by Mustika PT Asuransi Mitra Pelindung is one of the results from the expansion of the office network. In 2017, MPM Insurance had 15 representative offices in Indonesia. In 2018, this general insurance company succeeded in adding 2 representative offices. In this year, MPM Insurance plans to open two or three new branch offices in Sulawesi and Kalimantan.

This achievement is not only one of the milestones of MPM Insurance for its success in the future, but also as a boost to our spirit to continue to fight for the entire family of this company, both internal and external parties.

 

Source: Infobank Magazine (June 2019 edition, No. 493, Vol. XLI)