Allianz Life Indonesia received “The Best Life Insurance” award from Media Asuransi magazine for the category of more than IDR 750 billion equity together with PT Asuransi Jiwa Sinar Mas and PT Asuransi Jiwa Prudential. The award was received by Handojo Kusuma, Deputy CEO Allianz Life Indonesia, on the Media Asuransi’s annual Insurance Award 2011 which was held on June 14th at Le Meridien Hotel.
For this year award, the Media Asuransi’s research bureau categorized all insurance companies into four different categories, for both life and general (non-life) companies, based on equity; below IDR 100 billion, IDR 100-250 billion, IDR 250-750 billion and above IDR 750 billion.
The assessment was based on 9 ratio indicators to analyze the companies’ financial strengths, including the growth of premium income, technical reserve growth, underwriting result growth (highlighted), investment result growth, investment ratio, Total Asset Turn Over, Asset Quality Ratio, profit growth (highlighted) and Return on Equity (highlighted). The figures were taken from the year 2009 and 2010 published financial statement.
The judges were including the former Chief of Indonesia Insurance Board, the heads of life and non-life Indonesian insurance associations, and also some respected insurance experts in Indonesia.