TEMPO.CO, Jakarta – The amount of gross premium collected by the general insurance industry association in 2012 has experienced a 14.3 percent increase from the previous year. Out of 78 general insurance companies, 71 companies recorded an increase in their gross premium.

"Net premium reached Rp 19,6 trillion (US$1,98 billion) or 16 percent higher than the previous year," said the General Insurance Association of Indonesia (AAUI) Executive Director Julian Noor at Permata Kuningan on Monday, May 27.

In 2012, insurance gross claim experinced a 37.4 percent increase compared to 2011—from Rp 12,9 trillion (US$1,30 billion) in 2011 to Rp 17,7 trillion (US$1,79 billion) in 2012. Similarly, net claim in 2012 reached Rp 10,7 (US$1,08 billion) trillion or 20 percent higher than 2011 figures at Rp 8,9 trillion (US$903,25 million).

The performance of general insurance industry in 2012 has increased by 75.3 percent, from Rp 1,3 trillion (US$131,93 million) to Rp 1,8 trillion (US$182,68 million). Furthermore, insurance companies have recorded an increase in underwriting performance by 22.5 percent from the previous 19.7 percent.

MUHAMMAD MUHYIDDIN