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Tugu Insurance Has Been Named The Top General Insurance Company At The Business Indonesia Awards 2024

Tugu Insurance, a subsidiary of PT Pertamina Persero, has been awarded the General Insurance Company category at the Bisnis Indonesia Awards (BIA) 2024, held on Thursday, June 13, 2024.

The award was given by the Bisnis Indonesia Group to corporations whose shares are traded on the Indonesia Stock Exchange and have achieved positive performance throughout 2024. Tugu Insurance was chosen as the winner among other nominees.

Tatang Nurhidayat, the President Director of Tugu Insurance, expressed that events like this can serve as motivation and encourage all companies to maintain positive performance every year.

"We would like to express our gratitude for the appreciation and recognition given by the Bisnis Indonesia Group, and of course to the entire management. We hope that this achievement can motivate every employee of Tugu Insurance to work better and contribute sustainably, continuously moving forward, developing, and innovating," Tatang said.

With the theme "Agility in Uncertainty," highlighting the important role we play in adapting and innovating to face uncertainty, companies must adapt quickly and effectively to survive and thrive. In this regard, Tugu Insurance has consistently demonstrated positive performance and has been able to endure until now.

Proven throughout 2023, this subsidiary of PT Pertamina Persero recorded a consolidated Gross Premium production of Rp 1.97 trillion in the first quarter of 2024, surpassing the industry average by 22.51% compared to the same period last year, which was Rp 1.61 trillion.

Meanwhile, the Risk Based Capital (RBC) ratio reached 545.34%, far exceeding the minimum requirement set by the Financial Services Authority (OJK) of 120%.

Tugu Insurance still holds the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) from the international insurance rating agency from America, AM Best, for the eighth consecutive time. The Global Rating A- (Excellent) was first obtained by Tugu Insurance in 2016 and has been maintained until now. Since 2023, it has also been complemented with the National Scale Rating (NSR) of aaa.ID (Exceptional).