MPMInsurance Achieved Positive Results in 2024 Despite Industry Pressure

KatadataOTO – PT Insurance Mitra Pelindung Mustika or commonly known as MPMInsurance achieved positive results in 2024. This is evident from the growth they recorded up to the third quarter of last year.

At that time, the company successfully recorded 11 percent growth even though the insurance market experienced a 21 percent decline.

“Thanks to this good achievement, MPMInsurance has risen 6 ranks in the market and added 0.2 percent market share, driven by a 32 percent premium growth,” said Poppy Panca, Deputy Director of Marketing at MPMInsurance in her official statement (16/02).

Not only that, MPMInsurance recorded growth in the property and motor vehicle segments. In the property segment, the premiums booked by MPMInsurance saw a significant increase of 69 percent.

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Meanwhile, in the motor vehicle sector, MPMInsurance's premiums grew by 2 percent, higher than the industry's growth of 1 percent. Agents once again played a crucial role in this achievement with their contributions increasing by 16 percent.

This reflects the effectiveness of the company's strategy in strengthening its distribution network and providing vehicle protection solutions that are relevant to consumer needs.

Furthermore, this positive performance was also strengthened by the A+ rating that MPMInsurance once again received from Fitch Ratings in December 2024. This rating reflects the company's solid financial strength and its ability to maintain stability amidst industry challenges.

Appreciation for the Agents

For its achievements, the company showed its appreciation to the agents by holding the ‘Agent Mingle Time 2025’ event. 

"We greatly appreciate the hard work and dedication of our agents who have been crucial partners in providing the best protection for consumers,” said Alexander Setokusumo, CEO of MPMInsurance.

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As part of this celebration of togetherness, two agent representatives also shared their impressions and messages from their time working with MPMInsurance. They expressed appreciation for the good experiences they have had and affirmed how the company has proven its ability to provide the best protection for consumers. 

With the support of a strong agent network and an increasingly solid management foundation, MPMInsurance is optimistic about continuing to expand its reach and striving to provide the best and most innovative services for its customers.