Annual General Meeting of Shareholders (AGMS) of PT Asuransi Bina Dana Arta Tbk (ABDA) approved dividends for the 2020 financial year worth Rp41.6 billion.

ABDA President Director Herlin Sutanto said the dividend distribution would be paid on July 9, 2021.

"Throughout 2020, ABDA posted a net profit of Rp138.19 billion. This number increased by 57.89% YoY compared to the general insurance company's profit in 2019 of Rp. 87.52 billion," he said on Tuesday (8/6).

According to him, the increase in the company's profit by more than half was driven by three factors.

"First, namely the lower and controlled claim volume, as a result of the Covid-19 pandemic and the results of prudent business selection. Second, the company recorded more efficient spending during the pandemic. Third, there is the right investment placement," he explained.

In 2020, the company faced challenges in the top line aspect, where the gross