JAKARTA: PT Asuransi Jiwa Manulife Indonesia, a joint venture insurance company from Canada, booked total gross premiums of IDR4.7 trillion in 2011 or 27% higher compared to IDR3.7 trillion in 2010.
Based on annual premium equivalent, the company’s total new premiums grew 25% to IDR1.1 trillion from IDR882.5 billion.
In overall, Manulife Indonesia total premiums rose by 20% to IDR7.1 trillion from IDR5.9 trillion. Manulife Indonesia CEO and President Director Alan Merten said 2011 was the success year for the company.
In 2011, the company managed to develop alternative distribution channels apart from agent as the main distributor, i.e. bancassurance and direct marketing/telemarketing (DM/TM).
“We are in partnership with more than 15 banks in developing bancassurance channel. It contributed 35% from the total business, it grew from 26% in 2010 and jumped from 2% in 2006,” he said in Jakarta on Monday, May 7, 2012.
Both bancassurance and agency, he added, have the same contribution percentage toward business. (T06/msw)
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