Zurich Indonesia Achieves 10% Annual Profit Growth in 2022

Last week we have the privilege in supporting Zurich Indonesia, a leading insurance company, announcing a 10% year-on-year growth in consolidated profits for the fiscal year 2022. The company, however, did not disclose the exact amount of its earnings. Edhi Tjahja Negara, President Director of PT Zurich Asuransi Indonesia Tbk, attributed the consolidated profit growth to the increased gross premium income across its three business lines.

In a detailed breakdown, the general insurance business of Zurich Indonesia recorded a gross premium of Rp 2.7 trillion in 2022, representing a 3% annual growth. The Shariah-compliant insurance segment experienced significant growth, with a gross premium income of Rp 389 billion, marking a remarkable annual increase of 43%. Furthermore, Zurich Indonesia's Shariah-compliant insurance business achieved a notable 40% penetration rate for travel insurance related to the umrah pilgrimage. On the other hand, the life insurance business generated a gross premium income of Rp 865.5 billion, reflecting a 4% annual growth. It is worth noting that the life insurance segment achieved its first-ever profit since its establishment.

"We have observed robust growth in our life insurance business through agency channels and bancassurance compared to the previous year," stated Edhi during the Zurich Media Gathering held on Thursday, May 25, 2023. Edhi also highlighted that Zurich Indonesia currently serves 3.5 million customers, with more than 100,000 new policyholders added in the first quarter of 2023.

Meanwhile, Christopher Franz Bendl, Country Manager of Zurich Indonesia, disclosed during the same event that the company had disbursed a total of Rp 1.3 trillion in claims throughout 2022. Out of this amount, general insurance claims accounted for Rp 1.1 trillion, while life insurance claims and Shariah-compliant insurance claims reached Rp 99.7 billion and Rp 85.6 billion, respectively.

"The growth of Zurich Indonesia's business is a testament to the company's commitment to providing the best products and customer-oriented services," emphasized Bendl.

Aside from its strong business performance, Zurich Indonesia remains dedicated to implementing sustainability principles and engaging in various social responsibility initiatives. Among these initiatives is the Zurich Entrepreneurship Program, which primarily focuses on education. Through this program, Zurich Indonesia has empowered 9,000 SMA/SMK students and 50 schools across Indonesia.

As an agency that places great importance on education and human resource development, Artemis is proud of Zurich's achievements. It further inspires us to support Zurich's communication activities in the Indonesian market.