ABDA’S Profit Slightly Grew Bisnis Indonesia, page B4, 2006-06-27
PT Asuransi Bina Dana Arta Tbk (ABDA) booked a net premium all throughout the first trimester of 2006 worth Rp.53.7 billion, slightly up by 7 percent compared to the same period in 2005 worth Rp.49.8 billion. The company hopes that this net premium could give a contribution to the company’s net profit target of Rp.7 billion by the end of year.
In the first trimester of this year, ABDA recorded a net claim increase of Rp.25 billion in the same period of time last year to Rp.30 billion. As a result, this year ABDA will keep accelerating its premium income with a gross premium target of Rp.200 billion. Its income target has increased by 15 percent compared to last year’s Rp.174 billion. For 2006, the company has allocated a premium growth of 15 percent with adequate underwriting results.
Last year, the company’s underwriting results was still positive. It managed to book an underwriting result worth Rp16.12 billion, up 180.7 percent from 2004, which booked negative underwriting results worth Rp19.97 billion.
Asuransi Bina Dana Arta Suffers Financial Loss www.sinarharapan.co.id, 2005-07-02
PT Asuransi Bina Dana Arta Tbk (ABDA) suffered a financial loss of Rp.405 million in the first term of 2003. As an effect, investors started to lose interest in purchasing ABDA’s shares. Although the share’s price rose significantly from Rp.200 per share to Rp.285 per share, ABDA’s share-trade remained low. In June 2003, its shares were only traded 5 times.
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