PT BNI Life Insurance (BNI Life) reported that premiums obtained from the bancassurance channel reached IDR 1.59 trillion in the first half of 2024. This amount grew by approximately 2% from the same period last year, which was IDR 1.56 trillion.

Arry Herwindo, GM of Corporate Secretary, Legal & Corporate Communication at BNI Life, revealed that premiums from the bancassurance channel had a significant impact on the company's performance and dominated the premium income. This is because the bancassurance channel, as a distribution channel, is the main support for premium income.

"The bancassurance channel contributed around 63% of BNI Life's total premium income as of June 2024, amounting to IDR 2.53 trillion," he told KONTAN on Monday (8/7).

Looking ahead, Arry projects that the bancassurance channel will continue to contribute significantly to the company. Thus, BNI Life is targeting premium income from the bancassurance channel to reach IDR 4.3 trillion by the end of 2024.

Meanwhile, for the overall premium target this year, BNI Life has set a goal of IDR 6.4 trillion, an increase of approximately 19% from the 2023 premium income realization.