JAKARTA--PT Asuransi Kredit Indonesia partners with PT Permodalan Nasional Madani Venture Capital in form of financing loan insurance provision.
Askrindo President Director Antonius Chandra S.N. said the signing which took place yesterday between Askrindo and PNM Venture Capital was a cooperative agreement to finance the insurance company's business partner (PPU) PNM Venture Capital, small and medium enterprises (SMEs) and cooperatives.
"Askrindo will cover losses that may arise from the uncertainty of the risk of financing repayment by PPU from PNM Venture Capital," Antonius said a press statement received by Bisnis, today (26/6/2012).
Earlier this month, Askrindo also have a partnership with the PT Bank Pembangunan Daerah Jambi for loan insurance products. This cooperation agreement is one of Askrindo strategy to enlarge loan insurance business lines portion and suretyship from 30% to 35% this year.
Based on data received by Bisnis, the company pocketed gross premiums from January to May 2012 of IDR221.53 billion or increased 35.86% from the same period last year.
Cost of claim borne by Askrindo fell 30% to IDR77.41 billion in May 2012.
Profit before tax amounting to IDR121.29 billion, soared from IDR3.81 billion in May 2011. Meanwhile, the company eyed net profit by the end of this year of IDR225.04 billion.
The equity was IDR3.11 trillion and is expected to reach IDR4 trillion.18 trillion by the end of this year with state investment (PMN) to further increase business capacity.
Company's total asset as per May 31, 2012 reached IDR3.6 billion and is expected to increase to IDR4.68 trillion by the end of 2012. (T07/aph)
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