Home Berita Insurance Lippo Insurance (LPGI) Distributes IDR 100 Billion Cash Dividend

Lippo Insurance (LPGI) Distributes IDR 100 Billion Cash Dividend

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Lippo%20Insurance%20(LPGI)%20Tebar%20Dividen%20Tunai%20Rp%20100%20Miliar
Lippo Insurance (LPGI) Tebar Dividen Tunai Rp 100 Miliar

PT Lippo General Insurance Tbk (LPGI) at the Annual General Meeting of Shareholders (AGM) approved the use of net profit for the 2021 financial year to be distributed as cash dividends of Rp 100 billion or Rp 666.67 per share.

In addition, the meeting also approved the distribution of bonus shares derived from the capitalization of premium shares with a nominal value of Rp 500 and a ratio of 1:1.

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In addition to holding the AGMS, the company also held an Extraordinary General Meeting of Shareholders (EGMS) which approved the process of changing the controlling share ownership with the entry of the Hanwha Group. The Company will remain subject to applicable regulations and approval from the Financial Services Authority (OJK).

President Director of Lippo Insurance Agus Benjamin said that during 2021, the company managed to manage challenges into business growth momentum.

"Business challenges are part of the growth process that must be anticipated, passed, and managed. Value is critical to maintaining healthy and sustainable growth," Agus added in a public expose in Jakarta, Thursday (30/6).

Agus explained that the management of customer experience , user experience , and employee experience are important elements in a very dynamic and rapidly changing market. "Because the three experiences interact with each other strategically, advanced information technology is needed," explained Agus.

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Meanwhile, in the public expose , the company mentions a number of challenges that must be faced, including the pandemic being the main factor that limits some of the implementation of the company's business plans. Sales of motor vehicles that have not yet recovered also have an impact on reducing the company's premium receipts. The existence of PPKM also reduces the scope for business network development plans. Changing market conditions resulted in a decrease in reinsurance capacity.

Another challenge is the decline in the retail segment, individual customers are selective in buying insurance products, taking into account that insurance is not a primary need. The company's customers are limiting budgets group health insurance Then, premium payments tend to be delayed so that the collective premium time becomes longer. As well as the low yield obtained from the placement of time deposits and current/liquid mutual funds.

The Company has also prepared a follow-up strategy to be able to continue to grow amidst the changing business environment in the next three years. 

This year, the company maximizes the momentum it has to achieve premium growth, operational profit, and implement the Strategic Business (SBU) pillar. The company's growth will be carried out through three directorates within the organization by prioritizing the values ​​of governance and risk management.

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