Liquidity and Profitability Performance Analysis of PT Asuransi Tugu Pratama Indonesia Tbk During 2020–2024

Abstract

This study analyses the financial performance of PT Asuransi Tugu Pratama Indonesia Tbk during 2020–2024 by comprehensively evaluating liquidity and profitability ratios. Employing a descriptive quantitative approach, the research utilises secondary data derived from the company’s audited annual reports. Key financial indicators, including Return on Assets (ROA), Return on Equity (ROE), Loss Ratio, Expense Ratio, Combined Ratio, and Liquidity Ratio, were calculated to assess operational efficiency and financial stability. The results reveal consistent improvements in profitability and liquidity, particularly in 2023, when ROA reached 7.73% and ROE 18.59%. The average combined ratio remained below 100%, indicating efficient underwriting performance, while liquidity ratios consistently exceeded industry benchmarks. These findings imply that the company maintained strong financial resilience and effective risk management throughout the study period. Nevertheless, the study recognises the absence of comparative peer analysis and external economic variables as its limitations. The results are expected to contribute to managerial decision-making and to provide empirical insights for further research on insurance performance evaluation in Indonesia’s post-pandemic financial sector.