JAKARTA: PT Asuransi Jasa Tania Tbk will pay 60% dividend to shareholders from its total net profit in 2010 or around IDR7.2 billion.Jasa Tanias President Director Basran Damanik said the dividend that equivalent with IDR24 per share is large since it is a request from Perkebunan Nusantara Pension Fund that controlled 98.10% stake in Jasa Tania.Companys financial statement shows that the net profit reached IDR12 billion and gross premium revenue reached IDR146.74 billion in 2010.The net profit grew 30.41% compared to last years achievement at IDR9.2 billion while gross premium revenue was 19.96% higher compared to IDR122.32 billion a year earlier.However, Jasa Tanias profit declined 20.35% to IDR13.03 billion in first quarter 2011 from same period last year at IDR16.36 billion.Premium revenue reached IDR71.62 billion or grew 5.69% from last years first quarter at IDR67.76.Such decline in first quarter 2011 occurred because its business activity ran less optimal as a result of decline in underwriting results and increase in expenses, Jasa Tania Finance Director Slamet Solikhum said.We are raising the estimated own retention claims up to 400% or to IDR4.45 billion since it passed a lot of claims that are being processed, he explained, yesterday.The companys largest insurance expenses come from property insurance as much as IDR15.5 billion, engineering insurance and motor vehicle insurance.Property insurance contributes 51.18% of the total gross premium revenue in first quarter 2011 as much as IDR36.66 billion. It grew 13.95% compared to IDR32.17 billion in same period a year earlier.Premium revenue also contributed by motor vehicle insurance with IDR15.41 billion, engineering IDR8.98 billion, personal accident IDR6.06 billion, other insurance IDR2.19 billion and marine cargo IDR2 billion.Jasa Tania is targeting to gain IDR244 billion in premium revenue and IDR16 billion in profits this year.Therefore, the company will improve the performance of retail insurance products such motor vehicle, health and property insurance.Jasa Tania utilizes direct sales distribution channels, agents, brokers, banks, and leasing companies in marketing its insurance products.We are currently in talk with three banks to cooperate for credit insurance product and counter guarantee and also with leasing companies for motor vehicle insurance product. (t06/wiw)

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