Prudential Indonesia's Revenue and Profit Both Decline in Q1 2023

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Erlina Fury Santika 15/05/2023 16:19 WIB

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Prudential Indonesia's revenue and profit both declined in the first quarter of 2023.

PT Prudential Life Assurance's Revenue and Comprehensive Income (Q1 2020-2023)

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Prudential Indonesia's Revenue and Profit Both Decline in Q1 2023

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PT Prudential Life Assurance's Revenue and Comprehensive Income (Q1 2020-2023)

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PT Prudential Life Assurance, or Prudential Indonesia, an insurance company, reported a decline in revenue and profit in the first quarter (January-March) of 2023.

According to its financial report, Prudential Indonesia's revenue reached Rp5.73 trillion. This is down from Rp6.82 trillion in the first quarter of 2022.

A decrease in investment returns is suspected to be one of the causes of the sluggish revenue, reaching only Rp645.68 billion. Previously, it had reached Rp2.17 trillion (year-on-year/yoy).

Despite this, premium income increased this year, from Rp4.79 trillion in Q1 2022 to Rp5.12 trillion in Q1 2023.

In addition, Prudential's comprehensive income also plummeted. Recorded comprehensive income reached Rp374.82 billion in Q1 2023, down from Rp616.29 billion (yoy).

Looking back, Prudential achieved a significantly higher comprehensive income in Q1 2020, reaching Rp1.13 trillion.

Currently, the amount of investment in Prudential Indonesia reaches Rp56.36 trillion.

Its assets total Rp61.34 trillion, with total liabilities of Rp55.65 trillion and equity of Rp5.69 trillion.

(See also: Prudential, the Most Widely Used Private Health Insurance Provider in Indonesia)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."