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Tugure Named Best Reinsurance Company 2023

15 Nov 2023
Tugure Named Best Reinsurance Company 2023

Jakarta - PT Tugu Reasuransi Indonesia (Tugure) has been awarded The Best Performing Reinsurance 2023 Based on Financial Performance 2020-2022 at The Finance Executive Forum & Top 20 Financial Institution 2023, organized by The Finance magazine.

Tugure's Technical Director, Fadlil Iswahyudi, stated that this award is the result of the hard work of all Tugure's employees in improving the company's performance and consistently adding value to ceding companies.

"Tugure has been able to prove sustained performance during and after the pandemic, even improving performance while continuing to add value to ceding companies," said Fadlil.

According to the audited financial report of 2022, Tugure recorded gross reinsurance premiums of IDR 2.81 trillion, an increase of 24.16% compared to the previous year. As of the end of the third quarter of 2023, Tugure has secured gross premiums of IDR 2.25 trillion, a growth of 3.25% compared to the same period last year.

Fadlil continued by stating that the company reduced gross claims throughout 2022 to IDR 1.29 trillion, a decrease of 8.62%. "This is certainly the result of our strategy to reduce exposure to certain businesses that are deemed to have a high claims history," he explained.

The Finance's Top 20 Financial Institution 2023 is an award that evaluates the performance of companies and players in the financial industry, including banks, life insurance, general insurance and reinsurance, as well as multifinance that have maintained their performance over three periods.

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