2022 Audit Completed, Nasional Re Optimistic This Year’s Performance Will Improve

13 June 2023

PT Reasuransi Nasional Indonesia (Nasional Re) has completed an audit of the financial statements for 2022 financial year by public accounting firm Tanudiredja, Wibisana, Rintis & Partners (PwC Indonesia). From the result of the audit, Nasional Re recorded a net profit (after tax) of IDR 170.937 billion, after two consecutive years previously recorded losses. Meanwhile, the company recorded gross premium income of IDR 8.023 trillion, higher than 2021 which amounted to IDR 7.632 trillion.

Regarding the audit of the financial statements for the 2022 financial year, the President Director of PT Reasuransi Nasional Indonesia, Albert J. Rotinsulu, stated that his party welcomed it. "With the completion of this audit, we can immediately focus on carrying out strategic initiatives for the financial recovery program to meet the level of solvency according to the provisions Financial Services Authority (OJK)," he said in Jakarta, Thursday (8/6).

Albert J. Rotinsulu explained that since the beginning of this year, the management of Nasional Re has been serious about carrying out the financial improvement initiatives contained in the Financial Recovery Plan (RPK). PT Askrindo as the controlling shareholder and Indonesia Financial Group (IFG) as the BUMN holding for insurance and guarantees, support the steps taken by the management of Nasional Re.

With this effort, it is hoped that Nasional Re's performance will improve as indicated by financial indicators that are above the provisions of the OJK. As is known, the health of financial institutions, especially insurance and reinsurance institutions, is measured by 3 (three) indicators, namely a solvency ratio or Risk Based Capital (RBC) of at least 120%, Investment Adequacy Ratio (RKI) of at least 100%, Financial Services Authority and minimum Equity of IDR 200 billion.

As of April 2023, Nasional Re recorded RBC of 50.47%, RKI of 104.38%, and Equity (consolidated) of IDR 551.876 billion. This means that for the RKI and Equity indicators, National Re's performance has exceeded the provisions of the Financial Services Authority. This achievement shows that the Financial Recovery Plan (RPK) program has been implemented on track, and management is optimistic that by the end of 2023, it will be able to fulfill all the provisions of the OJK.

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