Thursday, 27 July 2023 - A total of 59 insurance companies, consisting of 17 life insurance companies and 42 general insurance companies, won the "Infobank Insurance Award 2023". The award was given by Infobank Magazine at the 24rd Infobank Insurance Award 2023 event at Hotel Indonesia Kempinski, Jakarta, Thursday, 27 July 2023.
The awarding of the Infobank Insurance Award 2023 is based on the Rating of 118 Insurance Companies Version of Infobank in 2023. This rating is based on the performance of 118 insurance companies for the audited and published financial statements for the 2021 and 2022 periods.
In the 2023 Award, PT Asuransi Sumit Oto was ranked 3rd or Very Good in the Best Performance General Insurance Company 2023 category for general insurance groups with a gross premium of Rp. 100 billion to under Rp. 250 Billion.
The insurance company's performance assessment conducted by the Infobank Research Bureau is carried out in 5 major stages to determine the very good predicate. These stages include determining the rating formula based on developments in the insurance industry, searching for data sources, assigning scores/values nfrom the processing of figures from various growth ratios, and awarding predicates.
In terms of financial health, PT Asuransi Sumit Oto is fairly solid, gross premium growth was recorded at 9.20% or to Rp. 118.40 billion in 2022. Last year the shareholders strengthened their capital so that their own capital rose 2.93% to Rp. 163.15 billion. Meanwhile, its assets grew 21.56% to Rp. 390.64 Billion. The obtained RBC is at 310.00% far above the 120% threshold. Likewise, the liquidity ratio is maintained at the level of 131%.