meraih momentum · 2021. 6. 22. · pt lippo general insurance tbk (hereinafter referred to as...

Sanggahan dan Batasan Tanggung JawabDisclaimer

GAINING MOMENTUMMERAIH MOMENTUM

Pertumbuhan PT Lippo General Insurance Tbk dibangun di atas dasar fundamental yang kuat agar dapat beradaptasi terhadap dinamika bisnis. Dengan mengutamakan Customer Experience, User Experience, dan Employee Experience, Perseroan terus berkembang di tengah tantangan bisnis yang dipersepsikan menjadi peluang bisnis. Situasi ketidakpastian yang ada dikelola menjadi momentum positif untuk meraih kemajuan Perseroan dengan lebih cepat.

PT Lippo General Insurance Tbk growth is built on a strong fundamental to adapt against business dynamics. By prioritizing Customer Experience, User Experience, and Employee Experience, the Company continues to develop in the midst of business challenges that is perceived to be a business opportunity. Existed uncertainty situation was managed to produce positive momentum to achieve a quicker Company’s progress.

Laporan Tahunan 2020 PT Lippo General Insurance Tbk (yang selanjutnya disebut “LippoInsurance” atau “Perseroan”) ini disusun untuk memenuhi ketentuan pelaporan hasil kinerja Perseroan pada periode 1 Januari 2020 sampai dengan 31 Desember 2020 kepada regulator dan pemangku kepentingan. Laporan Tahunan ini antara lain disusun berdasarkan Peraturan Otoritas Jasa Keuangan No. 29/POJK.04/2016 tentang Laporan Tahunan Emiten atau Perusahaan Publik dengan muatan konten sesuai Surat Edaran Otoritas Jasa Keuangan No. 30/SEOJK.04/2016 tentang Bentuk dan Isi Laporan Tahunan Emiten atau Perusahaan Publik.

Laporan Tahunan ini memuat pernyataan terkait tujuan, kebijakan, rencana, strategi, serta hasil operasi dan keuangan yang disusun berdasarkan data faktual yang dapat dipertanggungjawabkan kebenarannya. Selain itu, Laporan Tahunan ini juga menyajikan informasi terkait proyeksi kerja Perseroan di tahun selanjutnya yang disusun berdasarkan pernyataan-pernyataan prospektif dan berbagai asumsi mengenai kondisi mendatang Perseroan, serta lingkungan bisnis yang terkait, sehingga dapat mengakibatkan perkembangan aktual secara material berbeda dari yang dilaporkan. Oleh karena itu, Perseroan menghimbau agar pemangku kepentingan dapat menggunakan informasi tersebut secara bijak dalam pengambilan keputusan.

PT Lippo General Insurance Tbk (hereinafter referred to as “LippoInsurance” or the “Company”) Annual Report 2020 is prepared to comply with reporting requirements of the Company’s performance results for the period January 1st, 2020 to December 31st, 2020 to the regulators and stakeholders. This Annual Report is prepared based on Financial Services Authority Regulation No. 29/POJK.04/2016 concerning the Annual Report of Issuers or Public Companies with content in accordance with the Financial Services Authority Circular Letter No. 30/SEOJK.04/2016 concerning the Form and Content of the Annual Report of Issuers or Public Companies.

This Annual Report contains statements related to objectives, policies, plans, strategies, as well as operations and finance results which are prepared based on justifiable, factual data. In addition, this Annual Report also presents information related to the Company’s work projections for the following year which are prepared based on prospective statements and various assumptions regarding the Company’s future conditions, as well as related business environment, thus actual developments may differ materially from expected results. Therefore, the Company encourages our stakeholders to use this information wisely in making their decisions.

EKOSISTEM PENDUKUNG LIPPOINSURANCE

LIPPOINSURANCE SUPPORTING ECOSYSTEM

DIGITAL ECOSYSTEM SALES ECOSYSTEM

Financial Technology

Keunggulan KompetitifCompetitive Advantage

Digital Journey

Digital Partners

Digital Experience Agent

Brokers

Financial Institution

Identitas PerusahaanCorporate Identity

Tanggal PendirianDate of Establishment

Kode SahamShare Code

Modal DasarEquity Capital

Dasar Hukum PendirianLegal Basis of Establishment

Dasar Hukum Perubahan NamaLegal Basis of Name Change

Bidang UsahaLine of Business

Kantor Pusat/Head OfficeGedung Lippo Kuningan Lt. 27 Unit A & F Jl. HR Rasuna Said Kav. B-12Jakarta, 12940T : (021) 525 6161F : (021) 525 7161E : [email protected] : www.lippoinsurance.com

Kantor Operasional/Operational OfficeKarawaci Office Park Blok I No. 30-35 Lippo Village, Tangerang, 15139T : (021) 5015 6301/5579 0672F : (021) 5579 0682

Akta Pendirian No. 1 tanggal 6 September 1963 atas nama PT Asuransi Brawidjaja yang dibuat oleh notaris Adasiah Harahap, SH dan telah disahkan Menteri Kehakiman RI berdasarkan Surat Keputusan No. J.A.5/19/2 tanggal 4 Februari 1964.Deed of Establishment No. 1 dated September 6th, 1963 with the name of PT Asuransi Brawidjaja which was made by Notary Adasiah Harahap, SH and was ratified by the Minister of Justice of the Republic of Indonesia as stated in the Decree No. J.A.5/19/2 dated February 4th, 1964.

6 September 1963September 6th, 1963

LPGI

Asuransi UmumGeneral Insurance

• PT Maskapai Asuransi Marga Suaka: berdasarkan Akta No. 46 tanggal 24 Januari 1964 oleh notaris John Leonard Waworuntu, SH.

• PT Asuransi Marga Pusaka: berdasarkan Akta No. 4 tanggal 1 Oktober 1982 oleh notaris Misahardi Wilamarta, SH.

• PT Lippo General Insurance: berdasarkan Akta No. 118 tanggal 6 Juli 1991 oleh notaris Misahardi Wilamarta, SH.

• PT Maskapai Asuransi Marga Suaka: pursuant to Deed No. 46 dated January 24th, 1964 by Notary John Leonard Waworuntu, SH.

• PT Asuransi Marga Pusaka: pursuant to Deed No. 4 dated October 1st, 1982 by Notary Misahardi Wilamarta, SH.

• PT Lippo General Insurance: pursuant to Deed No. 118 dated July 6th, 1991 by Notary Misahardi Wilamarta, SH.

Rp175.000.000.000,-

Total AsetTotal Asset

Alamat KantorOffice Address

Jumlah KaryawanTotal Employees

508 karyawan / employees

PT INTI ANUGERAH PRATAMA65,79%

PT STAR PACIFIC Tbk19,80%

MASYARAKAT / PUBLIC14,41%

Rp2.815.578.393.095,-

Kepemilikan Saham

Shares Ownership

Tonggak Sejarah PerseroanCorporate Milestones

Perseroan didirikan dengan nama PT Asuransi Brawidjaja. The Company was established under the name of PT Asuransi Brawidjaja.

6 September 1963 September 6th, 1963

Perseroan mengubahnama menjadi PT AsuransiMarga Pusaka.The Company changed its name to PT AsuransiMarga Pusaka.

1 Oktober 1982October 1st, 1982

Perseroan mengubahkedudukan usaha yangsemula di Surabayamenjadi di Jakarta.The Company changed its domicile from Surabaya to Jakarta.

Perseroan mengubahnama menjadi PT LippoGeneral Insurance.The Company changed its name to PT Lippo General Insurance.

9 Januari 1991 January 9th, 1991

6 Juli 1991 July 6th, 1991

24 Januari 1964 January 24th, 1964

Perseroan mengubahnama menjadi PT Maskapai Asuransi Marga Suaka.The Company changedits name to PT MaskapaiAsuransi Marga Suaka.

1 April 1983April 1st, 1983

Perseroan secara resmimulai beroperasi.The Company officially commenced operations.

2020

22 Juli 1997July 22nd, 1997

Perseroan melakukan penawaran saham perdana dengan mencatatkan saham di Bursa Efek Indonesia.The Company conducted initial public offering by listing shares on the Indonesia Stock Exchange.

Perseroan meresmikan logo baru yang mencerminkan pengembangan yang berfokus pada peningkatan kualitas layanan.The Company inaugurated new logo that reflects development focused on services quality improvement.

Digitalisasi Perseroan secara menyeluruh.Transformed into a fully digitalized company.

30 Januari 2009January 30th, 2009

2018

Perseroan berhasil meningkatkan perolehan premi dari Rp319 miliar yang diperoleh selama 28 tahun, menjadi Rp1 triliun dalam waktu hanya 4 tahun.The Company successfully increased premium income from Rp319 billion earned in over 28 years to Rp1 trillion merely in 4 years.

31 Desember 2014 December 31st, 2014

Perseroan berhasil meningkatkan perolehan premi bruto sebesar 14,51% di tengah penurunan premi industri asuransi umum sebesar 4,04%.

The Company has succesfully increased its gross premiums by 14.51% amidst the decline in the general insurance industry premium of 4.04%.

21 April 1997 April 21st, 1997

Perseroan menjadiPerusahaan Terbukadengan nama PT LippoGeneral Insurance Tbk.The Company became a Public Company under the name of PT Lippo General Insurance Tbk.

6 PT Lippo General Insurance Tbk Laporan Tahunan 2020

Daftar IsiTable of Contents

02Laporan ManajemenManagement Report

26 Laporan Dewan KomisarisBoard of Commissioners’ Report

30 Laporan DireksiBoard of Directors’ Report

35 Tanggung Jawab Laporan TahunanAnnual Report Responsibility

53 Profil Komite Audit Audit Committee’s Profile

54 Profil Komite Nominasi dan Remunerasi Nomination and Remuneration Committee’s Profile

55 Profil Komite Pemantau Risiko Risk Monitoring Committee’s Profile

57 Profil Komite Kebijakan Tata Kelola Perusahaan Corporate Governance Committee’s Profile

58 Profil Komite di Bawah Direksi Profile of Committees Under the Board of Directors

58 Profil Komite Investasi Investment Committee’s Profile

59 Profil Komite Pengembangan Produk Product Development Committee’s Profile

61 Profil Komite APU PPT AML-CFT Committee’s Profile

62 Profil Komite Anti Fraud Anti-Fraud Committee’s Profile

63 Profil Komite Penanganan Pengaduan Konsumen Consumer Complaint Management Committee’s Profile

64 Profil Sekretaris PerusahaanCorporate Secretary’s Profile

64 Profil Kepala Unit Audit Internal Head of the Internal Audit Unit’s Profile

65 Personel KunciKey Personnel

70 Komposisi Pemegang SahamShareholders Composition

71 Kronologi Pencatatan SahamShare Listing Chronology

72 Daftar Entitas Anak, Perusahaan Asosiasi, dan Perusahaan VenturaList of Subsidiaries, Associated Companies, and Joint Ventures

72 Lembaga dan Profesi Penunjang Pasar ModalCapital Market Supporting Institutions and Professions

73 Akses Informasi dan Data PerusahaanAccess of Information and Company’s Data

74 Wilayah OperasionalOperational Area

76 Alamat Kantor dan Layanan Office Address and Service

79 Informasi pada Situs Web PerusahaanInformation on the Company’s Website

01Kilas Kinerja 20202020 Performance Highlight

10 Ikhtisar Data Keuangan PentingKey Financial Highlights

12 Ikhtisar SahamShares Highlights

13 Ikhtisar Pencatatan Efek Lainnya Other Securities Highlights

13 Aksi KorporasiCorporate Actions

14 Peristiwa PentingImportant Events

22 Penghargaan dan SertifikasiAwards and Certification

23 Keanggotaan AsosiasiAssociation Membership

03Profil PerusahaanCompany Profile

38 Riwayat Singkat Brief History

39 Visi dan Misi Vision and Mission

40 Nilai dan Budaya PerusahaanCorporate Values and Culture

41 Bidang Usaha Line of Business

42 Produk dan Layanan Products and Services

46 Struktur Organisasi Organizational Structure

47 Profil Dewan Komisaris Board of Commissioners’ Profile

50 Profil Direksi Board of Directors’ Profile

53 Profil Komite di Bawah Dewan KomisarisProfile of Committees Under the Board of Commissioners

04 Analisis dan Pembahasan ManajemenManagement Discussion and Analysis

82 Tinjauan Ekonomi dan IndustriEconomy and Industry Review

84 Tinjauan OperasionalOperational Review

85 Aspek PemasaranMarketing Aspects

85 Tinjauan Keuangan Financial Review

85 Laporan Posisi Keuangan KonsolidasianConsolidated Statements of Financial Position

88 Laporan Laba Rugi dan Penghasilan Komprehensif Lain KonsolidasianConsolidated Statements of Profit or Loss and Other Comprehensive Income

90 Rasio KeuanganFinancial Ratios

91 Kemampuan Membayar UtangSolvency

92 Tingkat Kolektibilitas PiutangReceivables Collectability Rate

92 Struktur Modal Capital Structure

93 Realisasi Dana Hasil Penawaran Umum Realization of Use of Proceeds from Public Offering

93 Program Kepemilikan Saham oleh Manajemen dan/atau KaryawanManagement and/or Employees Share Ownership Program

94 Ikatan Material untuk Investasi Barang Modal Material Commitments for Capital Assets Investment

94 Investasi Barang ModalCapital Assets Investment

94 Informasi Material terkait Investasi, Ekspansi, Divestasi, Penggabungan/Peleburan Usaha, Akuisisi, dan Restrukturisasi Utang/ModalMaterial Information on Investment, Expansion, Divestment, Merger/Consolidation, Acquisition and Capital/Debt Restructuring

95 Transaksi Material yang Mengandung Benturan Kepentingan atau Transaksi dengan Pihak AfiliasiMaterial Transactions Containing Conflict of Interest or Transactions with Affiliated Parties

72020 Annual Report PT Lippo General Insurance Tbk

05Tata Kelola PerusahaanCorporate Governance

104 Komitmen Penerapan Tata Kelola PerusahaanCommitment to Good Corporate Governance Implementation

105 Struktur Tata Kelola Perusahaan Corporate Governance Structure

106 Penerapan atas Pedoman Tata Kelola Perusahaan Terbuka Implementation of Good Corporate Governance Guideline for Public Companies

96 Pencapaian Target 2020Target Achievement in 2020

96 Kebijakan dan Pembagian DividenDividend Policy and Payout

97 Perubahan Kebijakan Akuntansi Changes in Accounting Policy

98 Perubahan Peraturan Perundang-Undangan yang Berdampak Signifikan terhadap PerusahaanChanges to Laws and Regulations that Have a Significant Impact on the Company

98 Informasi Material setelah Tanggal Laporan KeuanganMaterial Information Subsequent to the Financial Statements Date

99 Prospek Usaha Tahun 2021Business Prospects in 2021

100 Proyeksi Tahun 2021Projections for 2021

100 Informasi Kelangsungan UsahaInformation on Business Continuity

100 Hal-Hal yang Berpotensi Berpengaruh Signifikan terhadap Kelangsungan UsahaMatters with Potentially Significant Impact on Business Continuity

100 Penilaian Manajemen atas Hal-Hal yang Berpotensi Berpengaruh Signifikan terhadap Kelangsungan UsahaThe Management’s Assessment of Matters with Potentially Significant Impact on Business Continuity

101 Posisi LippoInsuranceLippoInsurance’s Position

101 Asumsi yang Digunakan Manajemen dalam Melakukan AssessmentAssumptions Used in the Management’s Assessment

189 Kode EtikCode of Ethics

190 Perkara PentingLitigation

190 Kepatuhan Pembayaran Pajak Tax Payment Compliance

191 Pengelolaan Anti Korupsi dan GratifikasiAnti-Corruption and Gratification Management

191 Sistem Pelaporan PelanggaranWhistleblowing System

193 Rencana Strategis PerusahaanCompany Strategic Plans

110 Evaluasi Praktik Tata Kelola Perusahaan Evaluation on the Corporate Governance Practice

111 Rapat Umum Pemegang Saham General Meeting of Shareholders

117 Dewan Komisaris Board of Commissioners

125 DireksiBoard of Directors

136 Remunerasi Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Remuneration

136 Hubungan Afiliasi Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Affiliate Relationship

137 Komite di Bawah Dewan Komisaris Committees Under the Board of Commissioners

137 Komite AuditAudit Committee

141 Komite Nominasi dan Remunerasi The Remuneration and Nomination Committee

147 Komite Pemantau Risiko Risk Monitoring Committee

151 Komite Kebijakan Tata Kelola Perusahaan Corporate Governance Policy Committee

154 Komite di Bawah Direksi Committee Under the Board of Directors

154 Komite Investasi Investment Committee

158 Komite Pengembangan Produk Product Development Committee

162 Komite Medis Medical Committee

165 Komite APU PPT AML-CFT Committee

169 Komite Anti Fraud Anti Fraud Committee

171 Komite Penanganan Pengaduan Konsumen Consumer Complaint Management Committee

174 Sekretaris Perusahaan Corporate Secretary

177 Unit Audit Internal Internal Audit Unit

182 Sistem Pengendalian Internal Internal Control System

184 Sistem Manajemen Risiko Risk Management System

187 Audit EksternalExternal Audit

06Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility

196 Dasar dan Komitmen Penerapan Tanggung Jawab Sosial Perusahaan The Basis and Commitment to the Implementation of Corporate Social Responsibility

197 Tanggung Jawab terkait Ketenagakerjaan, Kesehatan, dan Keselamatan KerjaCorporate Social Responsibility in Employment, Occupational Health and Safety

209 Tanggung Jawab terkait Pengembangan Sosial dan Kemasyarakatan Responsibility in Social Affairs and Community Development

212 Tanggung Jawab terkait Pelanggan Responsibility to the Customer

217 Tanggung Jawab terkait Lingkungan HidupResponsibility related to the Environment

219 Biaya Tanggung Jawab Sosial Tahun 2020Corporate Social Responsibility Expenses in 2020

07 Laporan Keuangan Financial Statement

KILAS KINERJA 20202020 PERFORMANCE HIGHLIGHT

Premi BrutoGross Premiums

Rp 1,69 triliun | trillion

Total AsetTotal Assets

Rp 2,82 triliun | trillion

Laba Bersih Setelah PajakNet Profit After Tax

Rp 92,91 miliar | billion

Pertumbuhan Hasil UnderwritingThe Growth of Underwriting Income

Total EkuitasTotal Equity



Pertumbuhan Hasil UnderwritingThe Growth of Underwriting Income

PT Lippo General Insurance Tbk Laporan Tahunan 2020

01 KILAS KINERJA 20202020 Performance Highlight

10

Ikhtisar Data Keuangan Penting Key Financial Highlights

Uraian 2020 2019 2018 Description

Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position

Total Aset 2.815,58 2.425,84 2.485,19 Total Assets

Total Liabilitas 1.954,50 1.577,33 1.605,37 Total Liabilities

Total Ekuitas 861,08 848,51 879,82 Total Equity

Total Liabilitas dan Ekuitas 2.815,58 2.425,84 2.485,19 Total Liabilities and Equity

Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian

Consolidated Statements of Profit or Loss and Other Comprehensive Income

Pendapatan 1.220,14 1.167,49 1.132,42 Revenues

Premi Bruto 1.693,22 1.459,60 1.473,00 Gross Premiums

Premi Reasuransi (471,79) (383,03) (338,04) Reinsurance Premiums

Hasil Investasi 39,66 83,08 61,86 Investment Income

Beban 1.108,23 1.079,72 1.054,33 Expenses

Klaim Bruto 957,76 1.057,79 981,44 Gross Claims

Klaim Reasuransi (281,74) (241,66) (219,99) Reinsurance Claims

Beban Komisi – Bersih 64,89 76,08 90,86 Commission Expenses – Net

Beban Underwriting Lainnya 118,48 5,33 35,65 Other Underwriting Expenses

Beban Usaha 206,20 190,11 140,38 Operating Expenses

Laba Sebelum Pajak Penghasilan 111,91 87,77 78,09 Income Before Tax

Beban Pajak (19,01) (7,77) (9,41) Tax Expense

Laba Tahun Berjalan 92,91 80,00 68,69 Profit for the Year

Diatribusikan kepada Pemilik Entitas Induk 92,91 80,00 68,69 Attributable to

Owners of the Company

Diatribusikan kepada Kepentingan Non-Pengendali - - - Attributable to

Non-Controlling Interest

Laba (Rugi) Komprehensif Tahun Berjalan 44,78 17,44 (154,97) Comprehensive (loss)

Gain for the Year

Diatribusikan kepada Pemilik Entitas Induk 44,78 17,44 (154,97) Attributable to

Owners of the Company

Diatribusikan kepada Kepentingan Non-Pengendali - - - Attributable to

Non-Controlling Interest

Nilai Buku Bersih per Saham (dalam Rupiah penuh) 5.740,53 5.656,74 5.865,46 Net Book Value per Share

(in full Rupiah)

Laba Bersih per Saham (dalam Rupiah penuh) 619,39 533,35 457,91 Earnings per Share

(in full Rupiah)

(dalam miliar Rupiah, kecuali dinyatakan lain/in billion Rupiah, unless stated otherwise)

2020 Annual Report PT Lippo General Insurance Tbk 11


Laporan Arus Kas Konsolidasian Consolidated Statements of Cash Flow

Arus Kas dari (untuk) Aktivitas Operasi 214,59 6,45 85,78 Cash Flows from (for) Operating Activities

Arus Kas dari (untuk) Aktivitas Investasi (174,27) 43,59 (56,94) Cash Flows from (for) Investing Activities

Arus Kas dari (untuk) Aktivitas Pendanaan (33,79) (48,73) (36,73) Cash Flows from (for) Financing Activities

Kenaikan (Penurunan) Bersih Kas dan Setara Kas 6,59 1,02 (7,78) Net Increase (Decrease) Cash

and Cash Equivalents

Kas dan Bank pada Awal Tahun 17,52 16,49 24,28 Cash and Bank at the Beginning of the Year

Kas dan Bank pada Akhir Tahun 24,10 17,52 16,49 Cash and Bank at the End of the Year

*Direklasifikasi*Reclassified

(dalam% / in%)


Rasio Profitabilitas Profitability Ratio

Margin Laba Bersih 7,61 6,85 6,07 Net Profit Margin

Rasio Laba Bersih terhadap Total Aset 3,30 3,30 2,76 Net Profit to Total Assets Ratio

Rasio Laba Bersih terhadap Total Ekuitas 10,79 9,43 7,81 Net Profit to Total Equity Ratio

Rasio Hasil Underwriting 23,63 18,49 14,85 Underwriting Income Ratio

Rasio Beban Klaim 60,84 74,05 73,36 Claim Expenses Ratio

Rasio Beban Komisi 5,49 6,97 8,47 Commission Expenses Ratio

Rasio Hasil Investasi 3,36 7,61 5,76 Investment Income Ratio

Rasio Likuiditas 139,90 148,64 151,03 Liquidity Ratio

Rasio Solvabilitas Solvency Ratio

Rasio Pencapaian Solvabilitas 189,43 198,54 186,80 Solvency Ratio

Rasio Liabilitas terhadap Total Aset 69,42 65,02 64,60 Liabilities to Total Assets Ratio

Rasio Liabilitas terhadap Total Ekuitas 226,98 185,89 182,47 Liabilities to Total Equity Ratio



12

Ikhtisar Saham Shares Highlights

Periode / Period

Harga Tertinggi

(Rp) /Highest

Price (Rp)

Harga Terendah

(Rp) / Lowest Price (Rp)

Harga Penutupan

(Rp) / Closing

Price (Rp)

Volume Rata-Rata

(Lembar Saham) / Average

Volume (Shares)

Jumlah Saham Beredar

(Lembar Saham) / Total Outstanding Shares (Shares)

Kapitalisasi Pasar (Rp) /Market

Capitalization (Rp)

2020

Triwulan 1/ Quarter 1 3.800 3.450 3.650 339.533 150.000.000 547.500.000.000




2019

Triwulan 1/ Quarter 1 4.300 2.700 2.800 1.144.167 150.000.000 420.000.000.000




Volume Perdagangan (Lembar Saham) / Trading Volume (Shares) Harga Penutupan (Rp) / Closing Price (Rp)

Volume Perdagangan (Lembar Saham) / Trading Volume (Shares)

Harga Penutupan (Rp)Closing Price (Rp)

1.200.000 5.000

500

JanJan

JanJan

FebFeb

FebFeb

MarMar

MarMar

AprApr

AprApr

MeiMay

MeiMay

JunJun

JunJun

JulJul

JulJul

AgtAug

AgtAug

SepSep

SepSep

OktOct

OktOct

NovNov

NovNov

DesDec

DesDec

-

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.5001.000.000

800.000

600.000

400.000

200.000

2019 2020


Ikhtisar Pencatatan Efek Lainnya Other Securities Highlights

Aksi KorporasiCorporate Actions

Sampai dengan tahun 2020, Perseroan tidak menerbitkan efek selain saham, baik dalam bentuk obligasi, obligasi konversi, maupun sukuk. Oleh karena itu, tidak terdapat informasi mengenai ikhtisar efek lainnya dan kronologi pencatatan efek lainnya.

Until 2020, the Company did not issue securities other than shares, either in the form of bonds, convertible bonds, or sukuk. Therefore, there is no information regarding highlights of other securities and other securities listing chronology.

Sepanjang tahun 2020, Perseroan tidak melaksanakan aksi korporasi, seperti pemecahan saham, pembagian dividen saham, dan perubahan nominal saham. Selain itu, Perseroan tidak pernah menerima sanksi terkait aktivitas perdagangan saham yang dilakukan di Bursa Efek Indonesia, baik berupa penghentian perdagangan saham sementara ataupun penghapusan pencatatan saham.

Throughout 2020, the Company did not conduct any corporate actions, such as stock split, share dividend distribution, and changes in the share nominal value. In addition, the Company never received any sanctions related to share trading activities imposed by the Indonesia Stock Exchange, either in the form of temporary suspension of share trading or delisting.



14

Peristiwa Penting Important Events

14 JANUARIKick Off 2020 Kick Off 2020 acara yang digelar menandai awal pelaksanaan kegiatan rencana bisnis tahun 2020 dengan tema 3XP: Customer Experience, User Experience, Employee Experience, yang merupakan kelanjutan dari tema tahun sebelumnya.Kick Off 2020 - the event that was held to mark the beginning of the 2020 business plan implementation with theme 3XP: Customer Experience, User Experience, Employee Experience, which is a continuation of the previous year’s theme.

15 JANUARILeaders’ Inspiring Camp (LIC) di Hanoi, VietnamLeaders’ Inspiring Camp (LIC) in Hanoi, Vietnam

Diikuti oleh karyawan di level Supervisor ke atas, kunjungan ke perusahaan asuransi terbesar di Vietnam, yaitu Bao Viet Insurance, diadakan dalam rangka memberikan inspirasi dan pengalaman bagi peserta.

Attended by employees from Supervisor level and above, they visit the Vietnam’s largest insurance company, namely Bao Viet Insurance. This camp was held to provide inspiration and experiences for the participants.

14 FEBRUARIJob Fair Universitas Pelita Harapan (UPH)Pameran untuk merekrut karyawan baru sekaligus memperkenalkan LippoInsurance kepada mahasiswa.

An exhibition to recruit new employees while introducing LippoInsurance to college students.

23 FEBRUARIRun for Hope 2020

Berpartisipasi menjadi sponsor pada Run for Hope 2020 yang diselenggarakan oleh MRCC Siloam Hospital.

Participated as a sponsor for Run for Hope 2020 organized by MRCC Siloam Hospital.


12 MEI“What to do Before During After Covid-19 Attack” Webinar Kesehatan bagi NasabahDengan pembicara Dr. dr. Allen Widysanto, Sp.P., TTs, FAPSR, peserta mendapat pemahaman mengenai Covid-19. Seorang survivor Covid-19, Joanna Halim, juga hadir dalam acara ini untuk berbagi pengalamannya.

With Dr. dr. Allen Widysanto, Sp.P., TTs, FAPSR as a speaker, participants got an understanding of Covid-19. Also attending this event, Joanna Halim, a Covid-19 survivor who shared her experiences.

12 MEIWebinar “How to Boost Your Sales During the Pandemic”

Dalam menghadapi krisis akibat pandemi, Bapak James Gwee memberikan tips dan trik bagi peserta untuk meningkatkan penjualan di masa pandemi ini.

In facing a crisis caused by the pandemic, Mr. James Gwee provided tips and tricks for the participants to increase sales during this pandemic.

5 JUNIHalal Bi Halal (Lihalbi) 2020Dalam rangka merayakan Hari Raya Idul Fitri, Lihalbi tahun 2020 diselenggarakan secara online melalui Zoom Meeting dengan tema “Ketika Ketulusan Mengatasi Keterbatasan (Our Humble Silaturahmi)’’.

In the celebration of Eid Al-Fitr, Lihalbi 2020 was held online through Zoom Meeting with the theme “When Sincerity Overcomes Limitations (Our Humble Gathering)’’.

18 JUNIMid-Year Meeting 2020 - The 3XP in the New Normal

Rapat kerja pertengahan tahun ini membahas mengenai pencapaian dan performa Perseroan, serta mengulas strategi bisnis yang perlu dilakukan. Rapat ini diikuti oleh Departement Head secara daring melalui Zoom Meeting.

This mid-year working meeting discussed the Company’s achievements and performance, as well as reviewing business strategies that needed to be done. This meeting was attended by all Department Heads via online through Zoom Meeting.



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29 JUNIWebinar “Perlindungan Kesehatan Prima”Webinar untuk mengedukasi agen Lippo Insurance agar lebih mengenal produk Perlindungan Kesehatan Prima.

Webinar to educate Lippo Insurance agents to know more about Prima Health Protection products.

2 JULIWebinar “General Insurance Shifting in the New Normal”

Mengingat pentingnya pemahaman akan kondisi asuransi umum di masa pandemi, serta bagaimana cara beradaptasi, Bapak Frans Lamury dan Bapak Agus Benjamin berbagi pengalaman dan pengetahuan mereka pada klien Lippo Insurance.

Given the importance of understanding the conditions of general insurance in the pandemic era, and how to adapt, Mr. Frans Lamury and Mr. Agus Benjamin shared their experiences and knowledge with Lippo Insurance clients.

10 JULIWebinar “Business Wisdom Over the Crisis”

Sebagai salah satu figur yang paling berpengalaman dalam dunia bisnis, LippoInsurance mengundang Chairman Lippo Group, Dr. Mochtar Riady, untuk berbagi pengalaman kepada peserta tentang bagaimana cara bertahan di tengah goncangan krisis akibat Covid-19.

As one of the most experienced figures in the business world, LippoInsurance invited the Chairman of Lippo Group, Dr. Mochtar Riady, to share experiences with the participants on how to survive amidst the shock of the crisis due to Covid-19.

8 JULIWebinar “Sharing and Discussion about Civil Engineering Completed Risk (CECR)”Webinar untuk mengedukasi peserta mengenai produk asuransi CECR dengan mengundang Bapak Gunawan, Senior Adjuster PT Axis International Indonesia, sebagai pembicaranya.

Webinar to educate participants about CECR insurance products by inviting Mr. Gunawan, Senior Adjuster of PT Axis International Indonesia, as the speaker.


29 JULIWebinar “Leveraging Technology to Streamline Response in New Normal”Mengingat Perseroan sangat memprioritaskan pemanfaatan teknologi, Bapak Gilbert Deddy Naibaho memberikan pemahaman kepada peserta mengenai hal tersebut dan berbagai implementasi teknologi yang telah diterapkan di LippoInsurance.

Given that the Company prioritizes the use of technology, Mr. Gilbert Deddy Naibaho provided an understanding to the participants about this topic and various technology implementations that have been applied in LippoInsurance.

7 AGUSTUSRapat Umum Pemegang Saham (RUPS) Tahunan

Annual General Meeting of Shareholders (GMS)RUPS Tahunan diselenggarakan untuk mengangkat Bapak Ali Chendra sebagai Presiden Komisaris Perseroan. Selain itu, hasil RUPS Tahunan menyetujui pembagian dividen sebesar Rp32,1 miliar.

Annual GMS was held to appoint Mr. Ali Chendra as the President Commissioner. In addition, the resolutions of the Annual General Meeting of Shareholders approved the distribution of dividends amounted to Rp32.1 billion.

14 AGUSTUSSharing Session: Mau Dapet Bonus Tiap Bulan?Sharing Session: Want to Get a Bonus Every Month? Demi meningkatkan semangat karyawan dalam memasarkan produk asuransi 3D, Charles Hanafie dan Celerina Handayani membahas mengenai program insentif untuk penjualan produk 3D.

In order to increase employee’s enthusiasm in marketing 3D insurance product, Charles Hanafie and Celerina Handayani discussed incentives programs for sales of 3D products.

18-19 AGUSTUSSurveillance Audit ISO 9001: 2015

Surveillance audit IS0 9001: 2015 di Kantor Operasional Perseroan terhadap departemen internal, yaitu Operation of Health Services dan Non-Health Services. Hasil audit menunjukkan bahwa Perseroan berhasil mempertahankan sertifikasi sistem manajemen mutu ISO 9001:2015 untuk Operation of Health Services No. 55028/A/0001/UK/En. Sedangkan untuk Operation of Non-Health Services, mendapat resertifikasi No. 55028/B/0001/UK/En.IS0 9001:2015 surveillance audit was conducted at the Operational Office for internal departments, i.e. Operation of Health Services and Non-Health Services. The audit results showed that the Company has successfully maintained the ISO 9001:2015 Quality Management System certification for Operation of Health Services No. 55028/A/0001/UK/En. As for Operation of Non-Health Services, the Company received recertification No. 55028/B/0001/UK/En.



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26 AGUSTUSPengumuman Pemenang Kontes Foto eBenefitThe Announcement of eBenefit Photo Contest WinnersDalam rangka memperingati Hari Kemerdekaan Republik Indonesia ke-75, Perseroan mengadakan Kontes Foto Merdeka melalui aplikasi eBenefit. Dari kontes ini, terdapat 1 pemenang utama yang mendapatkan hadiah berupa 1 unit Sepeda Noris 2.0 dan 10 pemenang hiburan mendapatkan hadiah berupa Ovo Cash sebesar Rp100.000,- per orang.In commemoration of the 75th Independence Day of the Republic of Indonesia, the Company held an Independence Photo Contest through the eBenefit application. From this contest, the Company picked 1 main winner who got a prize of 1 unit of Bike Noris 2.0 and 10 consolation winners that got a prize of Ovo Cash amounted to Rp100,000 per person.

14 SEPTEMBERVirtual Coordination Meeting 2020Rapat koordinasi yang diikuti oleh seluruh pimpinan dalam Perseroan dengan topik pembahasan target 2021. This coordination meeting was attended by all leaders in the Company with target for 2021 as the topic of discussion.

17 SEPTEMBERPeluncuran Aplikasi LippoInsurance

Agent Virtual Assistant (LAVA)The Launching of the LippoInsurance

Agent Virtual Assistant (LAVA) ApplicationAcara peluncuran aplikasi LAVA diadakan melalui Zoom Meeting. Aplikasi ini diciptakan khusus bagi para agen LippoInsurance untuk mempermudah transaksi dan meningkatkan produktivitas mereka.The LAVA application launching event was held through Zoom Meeting. This application was created to simplify transactions for LippoInsurance agents.

28 AGUSTUSPengumuman Pemenang Retail Contest LippoInsurance 2020

The Announcement of 2020 LippoInsurance Retail Contest WinnersMelalui Zoom Meeting, Perseroan mengumumkan Masita Muara Astri dari cabang Solo sebagai pemenang kontes ini untuk kategori Top Policy Producer karena telah berhasil menjual 103 polis yang sudah terbayar. Oleh karena itu, yang bersangkutan berhak mendapatkan hadiah berupa uang tunai sebesar Rp5.000.000,-.Through Zoom Meeting, the Company announced Masita Muara Astri from Solo branch as the winner of this contest for the Top Policy Producer category because she had successfully sold 103 paid policies. Therefore, Masita was entitled to a cash prize of Rp5,000,000.


19-23 OKTOBERNobar Live Webinar “Marine Insurance”

Watch Live Webinar on “Marine Insurance”Edukasi bagi Officer Development Program (ODP) dengan pembicara Bapak Stephen J Harris dari Guy Carpenter untuk mempelajari isu global saat ini dalam marine insurance.

Education for the Officer Development Program (ODP) with speaker Mr. Stephen J Harris from Guy Carpenter to study current global issues in marine insurance.

14-15 OKTOBERTraining Insurance Medicare KnowledgePengetahuan tentang produk adalah kunci keberhasilan seorang marketer, sehingga LippoInsurance mengadakan pelatihan ini agar peserta lebih memahami mengenai produk asuransi Medicare dan lebih percaya diri untuk mempresentasikan kepada para nasabah.

Product knowledge is the key to the success of a marketer, therefore LippoInsurance held this training so the participants have a better understanding about Medicare insurance product and be more confident to present it in front of the customers.

4 NOVEMBERPengumuman Pemenang AAUI Young ManagerThe Announcement of AAUI Young Manager WinnersPada acara ini, kandidat 10 besar bersaing menuju semi-final dan final Charles Hanafie sebagai perwakilan Young Manager dari LippoInsurance berhasil menjadi kandidat 10 besar dalam ajang tersebut.

In this event, the top 10 candidates compete towards the semi-finals and finals Charles Hanafie as the Young Manager representative from LippoInsurance was selected into the top 10 candidates in the event.

11 NOVEMBERLaunching Event LGI x Good Doctor

Bekerja sama dengan Good Doctor Technology Indonesia, Perseroan merilis fitur telekonsultasi yang dapat diakses nasabah Medicare melalui aplikasi GrabHealth pada menu Good Doctor.

In collaboration with Good Doctor Technology Indonesia, the Company launched a special teleconsultation feature that can be accessed by Medicare customers via GrabHealth app on the Good Doctor menu.



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11-12 NOVEMBERAnnual Budgeting Meeting Rapat tahunan yang dilaksanakan secara daring melalui zoom meeting dan dihadiri oleh seluruh pimpinan dalam Perseroan ini mengulas pencapaian target Perseroan menjelang akhir tahun serta menyusun rencana bisnis untuk tahun depan.This annual meeting was held online through zoom meetings and attended by all leaders in the Company to reviewed the achievement of Company’s targets towards the end of the year and prepares a business plan for the future.

20 NOVEMBER -20 DESEMBERMovember Challenge

Kompetisi olahraga yang diadakan Perseroan dengan melibatkan seluruh karyawan dan keluarganya.

Sports competitions held by the Company involving all employees and their families.

2 &10 DESEMBERVirtual Edu Trip Agency 2020Perjalanan virtual ke perkebunan kelapa sawit di Malaysia dan Cold Storage di Surabaya bagi para agen terpilih, yang dilanjutkan dengan edukasi produk asuransi Growing Tree dan Cold Storage.

Virtual trips to oil palm plantations in Malaysia and Cold Storage in Surabaya for selected agents, followed by education on Growing Tree and Cold Storage insurance products.

18 DESEMBERPengharapan Natal: Semua Indah Pada Waktu-Nya

Ibadah dan perayaan Natal yang dilaksanakan secara virtual melalui Zoom Meeting.A Christmas celebration and worship held through Zoom Meeting.


22 DESEMBERInner Healing PowerPerseroan dan Riliv meluncurkan Onboarding Program Pengelolaan Keseimbangan Mental bagi Karyawan dengan memberikan fasilitas konsultasi dengan psikolog mengenai masalah pribadi dan pekerjaan secara gratis dan aman.

The Company and Riliv launched the Onboarding Program for the Management of Mental Balance for Employees by providing free and safe consultation with psychologists regarding personal and work issues.

30 DESEMBERA Moment of Gratefulness

Acara penutup akhir tahun 2020 di Perseroan yang dilengkapi dengan berbagai hiburan serta undian berhadiah. Pada acara ini, ditayangkan pula 2 video testimoni dari peserta “Strava Challenge”, sebuah program yang diciptakan untuk membangkitkan gairah dan semangat karyawan serta tetap menjaga kesehatan dengan berolahraga di tengah situasi pandemi Covid-19.This event to celebrate the end of 2020 was equipped with various entertainment and lucky draws. At this event, the Company presented 2 testimonial videos from participants of the “Strava Challenge”, a program created to ignite employee passion and enthusiasm as well as to maintain their health by continue exercising amidst the Covid-19 pandemic situation.



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Penghargaan dan Sertifikasi Awards and Certification

Sertifikasi Certification

Penghargaan Awards

Warta Ekonomi proudly honor

Category

Fadel MuhammadFounder & President Commissioner

Muhamad IhsanCEO & Chief Editor

INSURANCE

PT Lippo GeneralInsurance Tbk

We d n e s d a y, A u g u s t 1 9 , 2 0 2 0J a k a r t a

as Top 5 The Most Valuable Company Award 2020 withBest 5-Months Stock Performance, Sub-sector Insurance

MAIPARK Award

Kategori / CategoryCedant Terbaik Pemenang III Kategori B (Kelompok Perusahaan Asuransi Umum dengan Modal di antara Rp500 miliar-Rp1 triliun)Best Cedant 3rd Winner of B Category (General Insurance Companies Group with Capital between Rp500 billion-Rp1 trillion)

Penyelenggara / OrganizerPT Reasuransi MAIPARK Indonesia

ISO 9001: 2015 on Quality Management Systems related to Operation of Health Service

Lembaga Sertifikasi Certification BodyUnited Registrar of Systems

Periode / Period4 September 2019- 3 September 2022September 4th, 2019- September 3rd, 2022

Insurance Market Leader Award 2020

Kategori / CategoryMarket Leader General Insurance 2020Penyelenggara / OrganizerMedia Asuransi

The 2nd Indonesia Insurance Innovation Award 2020

Kategori / CategoryTop 3 Best Digital Innovation General Insurance

Penyelenggara / OrganizerThinknovatecomm dan / and Pikiran Rakyat

ISO 9001: 2015 on Quality Management Systems related to Operation of Non-Health Service

Lembaga Sertifikasi Certification BodyUnited Registrar of Systems

Periode / Period27 September 2020- 26 September 2023September 27th, 2020- September 26th, 2023

The Most Valuable Company Award 2020

Kategori / CategoryBest 5 – Months Stock Performance, Sub – Sector Insurance

Penyelenggara / OrganizerWarta Ekonomi


Keanggotaan Asosiasi Association Membership

Nama Asosiasi Association Name

Skala AsosiasiThe Scale of the Association

Posisi PerseroanThe Company’s Position

Asosiasi Asuransi Umum Indonesia (AAUI)General Insurance Association of Indonesia

NasionalNational

AnggotaMember

Asosiasi Emiten Indonesia (AEI)Indonesian Public Listed Companies Association

NasionalNational

AnggotaMember

Kamar Dagang dan Industri (KADIN) IndonesiaIndonesian Chamber of Commerce and Industry

NasionalNational

AnggotaMember

LAPORAN MANAJEMENMANAGEMENT REPORT

Pengembangan bisnis berkelanjutan Perseroan diterjemahkan dalam

program ‘3Xp’, yaitu customer experience, user experience, dan employee experience.Sustainable business development of the Company is translated into “3Xp” program, which stands for customer experience, user experience, and employee experience.

Pencapaian kinerja Perseroan tahun 2020 lebih tinggi dibandingkan dengan kinerja industri asuransi umum.The Company’s performance in 2020 is higher than the general insurance industry.

02 LAPORAN MANAJEMENManagement Report


Presiden KomisarisPresident Commissioner

Ali Chendra


Laporan Dewan KomisarisBoard of Commissioners’ Report

Pemegang Saham dan Pemangku Kepentingan yang Terhormat,

Puji dan syukur kami panjatkan ke hadirat Tuhan Yang Maha Esa karena atas perkenanan-Nya maka PT Lippo General Insurance Tbk dapat menutup tahun 2020 dengan pencapaian bisnis yang lebih baik dari perkiraan, di tengah penurunan pertumbuhan industri asuransi umum karena pandemi Corona virus (Covid-19). Pencapaian Perseroan di tahun 2020 tersebut merupakan bukti dari ketepatan strategi dan kebijakan yang diambil oleh Perseroan dalam waktu 3 tahun terakhir. Oleh karena itu, dengan rasa bangga kami menyampaikan laporan terkait dengan pengawasan Dewan Komisaris ini.

Penilaian Terhadap Kinerja Direksi

Kami mengapresiasi upaya Direksi yang telah bekerja dengan sangat baik dalam mengelola Perseroan selama tahun 2020, dimana ekonomi mengalami kontraksi akibat pandemi Covid-19. Dengan inovasi dan kesigapan pengambilan keputusan dalam eksekusi setiap strategi bisnis, Perseroan dapat membukukan pertumbuhan bisnis dari sisi operasional dan keuangan. Kami melihat bahwa pencapaian ini merupakan hasil dari Business Continuity Plan (BCP) yang telah dirancang dengan mempertimbangkan siklus bisnis yang dinamis dan dapat diaplikasikan terhadap ketidakpastian dalam perjalanan Perseroan selama tahun 2020.

Pengawasan Terhadap Implementasi Strategi Pada tahun 2020, kami telah melakukan pengawasan ketat dan koordinasi aktif dengan Direksi melalui rapat gabungan yang dilaksanakan sebanyak 11 kali. Rapat tersebut antara lain membahas implementasi dan evaluasi strategi/rencana usaha yang dilaksanakan Direksi. Selama proses pengawasan tersebut, kami memandang bahwa strategi/rencana usaha Perseroan pada tahun 2020 cukup efektif dan telah sesuai dengan harapan Dewan Komisaris. Secara khusus untuk rencana bisnis yang melibatkan mitra usaha yang terdampak langsung pandemi secara signifikan, seperti hal nya yang terjadi pada bank dan perusahaan leasing, kami pandang sebagai sebuah pengecualian yang berada di luar kendali Direksi. Kami menghargai

Dear Shareholders and Stakeholders,

Praise and gratitude to the presence of Almighty God that with His blessings PT Lippo General Insurance Tbk was able to bring the year 2020 to a close with better-than-expected business achievements, amid the decline in the growth of the general insurance industry, due to the Corona virus (Covid-19) pandemic. The Company’s achievements in 2020 are evidence of the accuracy of the strategies and policies implemented by the Company in the last 3 years. Therefore, we’re proud to submit this report regarding the Board of Commissioners supervision.

Assessment of the Board of Directors PerformanceWe would like to extend our appreciation for the efforts made by the Board of Directors, as they worked exceedingly well in managing the Company throughout 2020, at a time when the economy contracted due to the Covid-19 pandemic. With innovation and agile decision-making in the execution of each business strategy, the Company was able to record business growth in terms of operations and finance. We recognize that this achievement is the result of the Business Continuity Plan (BCP) that had already been designed in consideration of dynamic business cycles, which was able to be applied to the uncertainties the Company faced in its journey through 2020.

Supervision of Strategy ImplementationIn 2020, we carried out strict supervision and active coordination with the Board of Directors through a series of 11 joint meetings during the year. These meetings discussed, among other things, the implementation and evaluation of strategies/business plans carried out by the Board of Directors. During the supervision process, we were able to determine that the Company’s strategy/business plan in 2020 was effective and in line with the expectations of the Board of Commissioners. In particular, business plans that involved business partners who were significantly affected by the pandemic, for instance, what happened to banks and leasing companies, it is our view that these were exceptions that were beyond the control of the Board of Directors. We appreciate the great efforts

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usaha keras Direksi untuk melakukan inovasi di bidang lain untuk menutupi tidak terlaksananya rencana bisnis pada bank dan perusahaan leasing.

Kami memandang bahwa pelaksanaan strategi pengembangan teknologi informasi di dalam pengembangan produk dan layanan Perseroan sangat tepat dan efektif, serta sesuai dengan harapan dan kebutuhan nasabah maupun mitra usaha. Perseroan telah memusatkan perhatian kepada peningkatan customer experience yang berfokus kepada platform digital. Kami pun mendukung upaya dan strategi Direksi untuk terus mengembangkan teknologi yang sesuai dengan bisnis asuransi dengan tetap memperhatikan kepada peningkatan efektivitas, efisiensi, keandalan, kenyamanan, dan keamanannya.

Pandangan Atas Prospek Usaha Kami memiliki keyakinan bahwa tahun 2021 akan memberikan lebih banyak kesempatan bagi Perseroan untuk maju dan berkembang, seiring dengan kebijakan pemerintah dan Bank Indonesia untuk meningkatkan laju pertumbuhan ekonomi Indonesia melalui program vaksinasi serta rangkaian stimulus fiskal dan moneter. Prospek usaha yang akan dikembangkan oleh Direksi melalui 6 Pilar Strategi Bisnis Perseroan dengan memberikan kesempatan kerja sama joint venture yang akan terbuka lebar seiring dengan potensi masuknya investor asing, seperti halnya dari Jepang, Korea, Eropa, dan Tiongkok ke pasar modal Indonesia. Oleh karena itu, kami mendorong Direksi dan seluruh insan Perseroan untuk siap menyambut kesempatan dan peluang pengembangan usaha yang akan datang dengan memaksimalkan peran sumber daya manusia, sumber daya permodalan, keunggulan sistem teknologi informasi, bahkan memaksimalkan dukungan dari ekosistem bisnis yang dimiliki. Optimisme ini akan disertai dukungan penuh Dewan Komisaris agar Perseroan dapat mencapai target pertumbuhan serta meningkatkan nilai Pemegang Saham dan pemangku kepentingan.

Pandangan Atas Penerapan Tata Kelola PerusahaanPenerapan tata kelola perusahaan yang baik (GCG) di Perseroan kami pandang telah sangat memadai. Dengan dikelola oleh manajemen yang merupakan para profesional di bidangnya, khususnya di bidang asuransi, implementasi GCG dapat terus dilaksanakan. Demikian pula dengan sistem pengendalian internal dan sistem manajemen risiko yang dijalankan dalam koridor kepatuhan terhadap peraturan perundang-undangan serta peraturan otoritas terkait asuransi dan pasar modal. Kami menyambut baik rencana Direksi untuk memperoleh sertifikasi ISO 27001:2013 tentang Information Security Management Systems (ISMS).

Pandangan Atas Penerapan Tanggung Jawab Sosial PerusahaanMeskipun mobilitas di tahun 2020 sangat terbatas, namun Perseroan tetap dapat menjalankan tanggung jawab sosial (CSR) kepada pemangku kepentingan. Perseroan sangat peduli dan memahami kebutuhan utama para pemangku kepentingan, sehingga setiap program yang dijalankan merupakan pilihan terbaik untuk meningkatkan kesejahteraan ekonomi dan

taken by the Board of Directors to innovate in other areas to make up for the non-implementation of the business plans with banks and leasing companies.

We view the implementation of information technology development strategies in the development of the Company’s products and services as very precise and effective, and in accordance with the expectations and needs of both customers and business partners. The Company has focused on improving customer experience by placing emphasis on digital platforms. We also support the efforts and strategies of the Board of Directors to continue developing technology suitable for the insurance business while being mindful to continue increasing effectiveness, efficiency, reliability, comfort, and safety.

Views on Business OutlookWe are confident that 2021 will provide the Company more opportunities to advance and develop, alongside the Government and Bank of Indonesia policies to increase growth in the Indonesian economy through its vaccination program as well as a series of fiscal and monetary stimuli. Business prospects will be continued to be developed by the Board of Directors through the 6 Pillars of the Company’s Business Strategy, by preparing opportunities for joint venture that will be wide open, along with the potential for re-entry of foreign investors, such as those from Japan, Korea, Europe, and China, to the Indonesian capital market. Therefore, we encourage the Board of Directors and the entire Company staff to be ready to welcome opportunities and windows to future business development, by maximizing the role of human resources and capital resources, taking advantage of information technology systems, and fully utilizing the support of the business ecosystem they have. This optimism will go hand in hand with the full support of the Board of Commissioners so the Company may achieve its growth targets and increase value for the Shareholders and Stakeholders.

Views on Good Corporate Governance ImplementationThe Company’s implementation of good corporate governance (GCG) is in our view, highly satisfactory. Implemented by the Management who are experts in their field, particularly in the insurance sector, the implementation of GCG was able to continue. As were the internal control system and risk management system, which were implemented within the corridor of compliance with laws and regulations, as well as in line with the rules of regulatory authorities related to insurance and the capital market. We heartily welcome the Board of Directors’ plans to obtain ISO 27001:2013 certification on Information Security Management Systems (ISMS).

Views on the Implementation of Corporate Social ResponsibilityDespite mobility in 2020 being highly limited, the Company was still able to carry out its social responsibility (CSR) to its stakeholders. The Company genuinely cares about and understands the main needs of its stakeholders, ensuring that every program it carries out is the best choice to improve social and economic well-being. We appreciate these positive actions,


sosial. Kami mengapresiasi tindakan positif ini dan mendorong Direksi untuk secara konsisten melaksanakannya agar dapat menciptakan rantai nilai yang terintegrasi antara Perseroan dan seluruh pemangku kepentingan.

Pandangan Atas Pengembangan Bisnis BerkelanjutanKami sangat mendukung pengembangan bisnis berkelanjutan di Perseroan yang saat ini berada pada tahap pengembangan sistem operasi, produk, dan layanan. Dengan menitikberatkan pada platform digital, Perseroan hadir untuk memberikan kemudahan dan efisiensi bagi kehidupan dan proses bisnis para pemangku kepentingan. Proses digitalisasi ini diharapkan dapat memangkas pemborosan sumber daya dan menekan dampak negatif dari aktivitas manusia terhadap lingkungan hidup.

Perubahan Komposisi Anggota Dewan Komisaris RUPS Tahunan yang telah dilaksanakan pada 7 Agustus 2020 memutuskan untuk mengubah komposisi anggota Dewan Komisaris Perseroan. RUPS mengangkat saya, Ali Chendra, sebagai Presiden Komisaris untuk menggantikan Bapak Benny Haryanto Djie yang telah selesai masa jabatannya. Dengan demikian, komposisi anggota Dewan Komisaris Perseroan menjadi:Presiden Komisaris : Ali Chendra;Komisaris Independen : Frans Lamury;Komisaris Independen : Jamilah Mawira Sungkar.

PenutupMelalui Laporan Dewan Komisaris ini, kami menyampaikan terima kasih kepada para Pemegang Saham atas dukungan dan kepercayaan yang telah diberikan, serta kepada Direksi atas upaya yang besar dalam mengelola Perseroan di masa yang sangat menantang ini. Terima kasih kami sampaikan kepada seluruh karyawan atas dedikasinya, terima kasih kepada para mitra usaha atas kerja sama yang baik yang telah terjalin selama ini, serta kepada para nasabah yang terus mempercayakan kebutuhan asuransinya kepada Perseroan. Kami juga ingin mengajak seluruh karyawan, mitra usaha dan nasabah untuk mengomunikasikan pengalamannya terhadap produk dan layanan Perseroan sehingga dapat tercipta budaya Service Excellence yang mengakar, dan menciptakan nilai-nilai positif bagi Perseroan dan seluruh pemangku kepentingan.


Atas nama Dewan Komisaris,On behalf of the Board of Commissioners,

Ali Chendra

and encourage the Board of Directors to run them consistently, to create an integrated value chain between the Company and all of its stakeholders.

Views on Sustainable Business DevelopmentWe wholeheartedly support the sustainable business development of the Company, which is currently at the stage of developing its operating systems, products, and services. With an emphasis on digital platforms, the Company is here to provide convenience and efficiency to the lives and business processes of its stakeholders. This digitization process is expected to reduce waste of resources as well as limit the negative impact of human activities on the environment.

Changes in the Composition of the Board of CommissionersThe Annual General Meeting of Shareholders (AGMS) that took place on the August 7th, 2020 decided to alter the members of the Board of Commissioners. The GMS decided to appoint myself, Ali Chendra, to be the President Commissioner in place of Mr. Benny Haryanto Djie, who had completed his term in office. Therefore, the composition of members of the Board of Commissioners is as follows:President Commissioner : Ali Chendra;Independent Commissioner : Frans Lamury;Independent Commissioner : Jamilah Mawira Sungkar.

ClosingThrough this Board of Commissioners report, we would like to express our gratitude to the Shareholders for their support and trust, as well as to the Board of Directors, for their great efforts in managing the Company during this deeply challenging time. We wish to thank all employees for their dedication, and to thank our business partners for the good cooperation we have established thus far, as well as our customers for continuing to entrust their insurance needs to the Company. We would also like to invite all employees, business partners and customers to communicate their experience with the Company’s products and services, so that a deep-rooted culture of Service Excellence may be created, and that we may generate positive values for the Company and all its stakeholders.



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Ali ChendraPresiden DirekturPresident Director

Agus Benjamin


Laporan Direksi

Board of Directors’ Report

Pemegang Saham dan Pemangku Kepentingan yang Terhormat,

Berkat rahmat Tuhan Yang Maha Esa, kami menyampaikan Laporan Direksi ini sebagai bentuk pertanggungjawaban atas pengelolaan Perseroan pada tahun 2020. Dalam laporan ini, kami membahas kinerja dan pencapaian Perseroan beserta tantangan dan strategi yang ditempuh untuk keberlanjutan usaha.

Tantangan yang DihadapiTahun 2020 merupakan tahun yang penuh dengan tantangan bagi semua pihak. Krisis kesehatan yang terjadi akibat pandemi Covid-19 menyebabkan pemerintah mengambil kebijakan membatasi mobilitas masyarakat secara masif, bahkan melakukan pembatasan sosial berskala besar (PSBB) di beberapa wilayah. Keputusan ini mempengaruhi perekonomian serta menyebabkan terbatasnya aktivitas distribusi, konsumsi, dan investasi.

Pembatasan aktivitas ini memberikan tekanan yang cukup kuat pada pertumbuhan ekonomi, termasuk industri perasuransian. Berdasarkan Laporan Asosiasi Asuransi Umum Indonesia mengenai Kinerja Asuransi Umum dan Reasuransi Tahun 2020, industri asuransi umum mencatat penurunan pertumbuhan premi sebesar minus 4,04%, sedangkan nilai klaim mengalami peningkatan sebesar 3,41%.

Selain mempengaruhi pertumbuhan ekonomi, pandemi yang terjadi di tahun 2020 juga memberikan dampak signifikan pada perubahan pola kegiatan ekonomi dalam pemanfaatan teknologi digital. Pelaku usaha harus beradaptasi dengan kebiasaan baru, termasuk menerapkan program kerja dari rumah (KDR). Demikian pula dengan perubahan perilaku para nasabah, yang membatasi interaksi secara fisik dalam bentuk pertemuan tatap muka secara langsung. Interaksi bisnis beralih menggunakan platform berbasiskan sistem dan teknologi informasi yang dapat diandalkan. Penyesuaian prosedur standar operasional (SOP) serta sumber daya menjadi sangat penting untuk mempertahankan daya saing Perseroan.

Dear Shareholders and Stakeholders,

Thanks to the grace of God Almighty, we are able to submit this Board of Directors Report as a demonstration of our accountability for the management of the Company for the year 2020. In this report, we will discuss the Company’s performance and achievements, as well as the challenges faced and strategies implemented for business sustainability.

Challenges FacedThe year 2020 was full of challenges for all parties. The health crisis that resulted from the Covid-19 pandemic led the Government to adopt a policy of mass limitation of movement for the public, and to even impose large-scale social restrictions (PSBB) in several regions. This decision impacted the economy and caused limitations on distribution activities, consumption, and investment.

This limitation of activity placed strong pressure on economic growth, including in the insurance industry. Based on the report from the Indonesian General Insurance Association regarding the Performance of General Insurance and Reinsurance in 2020, the general insurance industry recorded decrease in premium growth of minus 4.04%, while claims values increased by 3.41%.

Besides affecting economic growth, the pandemic of 2020 also had a significant impact on changing patterns of economic activity in the use of digital technology. Business actors had to adapt to new habits, including the implementation of a work-from-home (WFH) program. Likewise, changes in customer behaviour took place, limiting physical interaction in the form of face-to-face meetings. Business interactions switched over to using reliable information technology system-based platforms. Adjustments to standard operating procedures (SOP) and resources became very important to maintain competitiveness of the Company.



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Strategi dan Kebijakan Strategis PerseroanSebagai tindak lanjut terhadap situasi di atas, Perseroan telah berhasil mengoptimalkan penggunaan teknologi digital yang telah dikembangkan dalam beberapa tahun sebelumnya. Dengan penerapan sentralisasi operasional dan administrasi secara digital, nasabah dapat memperoleh layanan terbaik dari Perseroan tanpa dibatasi wilayah geografis. Proses penerbitan polis, pembayaran, dan pengajuan klaim dapat dilakukan dengan mudah.

Fasilitas layanan digital yang telah diperkenalkan kepada nasabah memperoleh sambutan yang sangat baik selama pandemi ini. Fasilitas cashless, cardless, QR code, eBenefit, live chat, teleconsultation, telemedicine, dan virtual assistant menempatkan Perseroan menjadi salah satu perusahaan yang sangat siap menghadapi keterbatasan karena pandemi ini.

Selain itu, untuk mempertahankan produktivitas karyawan dalam melayani nasabah, Perseroan memanfaatkan teknologi Cloud Virtual Private Network yang terhubung ke masing-masing laptop karyawan yang disediakan perusahaan. Tingkat produktivitas ini juga diukur dan dikelola dengan program Productivity and Activity Dashboard (PAD). Dengan dashboard ini, setiap Department Head dapat dengan mudah melakukan supervisi terhadap timnya, meskipun tim sedang bekerja dari rumah.

Ketidakhadiran secara fisik di kantor tidak menghilangkan esensi pengembangan kompetensi karyawan. Program training, coaching, dan mentoring tetap dilakukan secara online. Perseroan juga sangat memperhatikan kesehatan karyawan selama pandemi ini, baik kesehatan fisik maupun kesehatan mental. Sarana dan prasarana telah dipersiapkan Perseroan untuk memastikan karyawan dapat tetap berkarya menghasilkan kontribusi terbaik untuk menunjang pertumbuhan Perseroan. Tim Pencegahan dan Pengendalian Covid-19 yang telah dibentuk sangat membantu manajemen mengelola situasi ketidakpastian ini.

Pencapaian KinerjaPengelolaan Perseroan dilandaskan pada pengelolaan aspek fundamental yang kuat sehingga diharapkan dapat mengatasi dinamika perubahan lingkungan eksternal bisnis yang terjadi. Penerapan strategi secara tepat, terencana, dan terukur menjadi keunggulan utama Perseroan dalam memenangkan kompetisi. Hal ini terlihat pada pencapaian kinerja operasional dan keuangan Perseroan yang lebih tinggi dibandingkan dengan kinerja industri. Perolehan premi bruto Perseroan meningkat sebesar 16,01% dari Rp1,46 triliun di tahun 2019 menjadi Rp1,69 triliun di tahun 2020. Sedangkan, klaim bruto Perseroan mengalami penurunan 9,46% dari Rp1,06 triliun di tahun 2019 menjadi Rp956,76 miliar di tahun 2020. Hal tersebut berdampak langsung pada perolehan hasil underwriting yang meningkat 38,31%, dari Rp201,82 miliar di tahun 2019 menjadi Rp279,13 miliar di tahun 2020. Demikian pula dengan combine operating ratio (COR) mengalami perbaikan dari sebelumnya sebesar 96,64% menjadi sebesar 82,82%.

Company Strategy and Strategic Policy

In response to above situation, the Company succeeded in optimizing the use of digital technology that had been developed in previous years. With the implementation of digital operational and administrative centralization, customers were able to receive the best service from the Company, without being geographically restricted. The processes of issuing policies, payments, and submitting claims were able to be completed with ease.

Digital service facilities that had already been introduced to customers were received very well during the pandemic. Facilities such as cashless, cardless, QR codes, eBenefit, live chat, teleconsultation, telemedicine, and virtual assistant have positioned the Company as one of the most prepared companies to face the limitations caused by the pandemic.

Not only that, but to maintain employee productivity in service to customers, the Company utilized the Virtual Private Cloud Network technology, which was connected to each employee’s Company laptop. Productivity levels were measured and managed using the Productivity and Activity Dashboard (PAD). With this dashboard, department heads were easily able to supervise their teams, even though the team members were working from home.

The lack of physical presence in the office did not diminish the essence of employee competency development. Training, coaching, and mentoring programs continued to run online. The Company also paid close attention to employee health during the pandemic, both in terms of physical and mental well-being. The facilities and infrastructure prepared by the Company were to ensure that employees could continue to work and produce their best contributions in support of the Company’s continued growth. Covid-19 Prevention and Control Team was established and has been very helpful to the Management in handling this uncertain situation.

Performance AchievementsCompany management was based on managing strong fundamental aspects so as to overcome the changing dynamics in the external business environment as they occurred. The implementation of strategies in a precise, planned and measured manner was the Company’s main advantage beating the competition. This can be seen in the achievement of the Company’s operational and financial performance, which is higher than that of the industry. The Company’s gross premiums increased as much as 16.01% from Rp1.46 trillion in 2019 to Rp1.69 trillion in 2020. Meanwhile, the Company’s gross claims experienced a decrease of 9.46% from Rp1.06 trillion in 2019 to Rp956.76 billion in 2020. This had a direct impact on the underwriting income, which increased by 38.31% from Rp201.82 billion in 2019 to Rp279.31 billion in 2020. Likewise, the Combined Operating Ratio (COR) also experienced improvement, where previously it was 96.64%, it is now 82.82%.


Membaiknya kinerja operasional tersebut mendorong pertumbuhan kinerja keuangan Perseroan. Selain pertumbuhan pendapatan premi bruto, laba tahun berjalan juga tumbuh sebesar 16,13% menjadi Rp92,91 miliar dari Rp80,00 miliar di tahun 2019. Demikian pula dengan arus kas yang diperoleh Perseroan dari aktivitas operasi di tahun 2020 yang mengalami peningkatan signifikan sebesar Rp208,14 miliar, menjadi Rp214,59 miliar dari Rp6,45 miliar di tahun 2019. Kepercayaan nasabah dan dedikasi karyawan mendukung keberhasilan penerapan strategi yang ditetapkan oleh manajemen Perseroan.

Prospek Usaha di Tahun 2021Perekonomian Indonesia pada tahun 2021 diharapkan akan mengalami perbaikan ditunjang oleh perkembangan penanganan Covid-19, termasuk pelaksanaan program vaksinasi yang telah berjalan. Prospek tersebut didukung juga oleh realisasi stimulus fiskal serta kebijakan pemerintah dan Bank Indonesia untuk mendorong laju perekonomian pada berbagai sektor.

Mengantisipasi hal tersebut, Perseroan telah menetapkan tema “Gaining Momentum” untuk tahun 2021. Momentum dihasilkan melalui pengelolaan tiga mesin pertumbuhan dan didukung oleh aspek keuangan yang kuat, ekosistem bisnis yang bertumbuh, dan tim kerja yang penuh komitmen. Diharapkan, Perseroan tetap membukukan pertumbuhan premi dan keuntungan pada tahun 2021.

Penerapan Tata Kelola Perusahaan

Peningkatan kualitas penerapan tata kelola perusahaan (GCG) menjadi kebutuhan mutlak dalam bisnis Perseroan yang terus berkembang secara dinamis. Hasil self-assessment GCG yang lebih baik terus menerus diupayakan, terutama pemenuhan prinsip-prinsip GCG di Perseroan menuju kondisi yang optimal, baik dari sisi struktur tata kelola, proses tata kelola, maupun hasil penerapan tata kelola yang baik dan transparan.

Pengawasan aktif yang dilakukan melalui Dewan Komisaris dan keterlibatan langsung Direksi dalam memastikan pelaksanaan sistem pengendalian internal dan sistem manajemen risiko juga menjadi kunci utama penerapan GCG yang lebih baik. Kesadaran tim kerja untuk menerapkan budaya sadar risiko dalam seluruh lini bisnis dan operasional yang dijalankan meningkatkan kepercayaan dari seluruh pemangku kepentingan terhadap Perseroan.

Penerapan Tanggung Jawab Sosial PerusahaanSelama pandemi Covid-19, Perseroan tetap aktif melaksanakan tanggung jawab sosial perusahaan (CSR) yang dipandang sesuai dengan kebutuhan kelompok pemangku kepentingan yang dituju, khususnya kontribusi kepada masyarakat. Dengan tetap menerapkan protokol kesehatan yang ketat, Perseroan memfokuskan program-program CSR yang mempunyai

This improvement in operational performance boosted the Company’s financial performance. In addition to the growth in gross premiums income, profit for the year also grew substantially by 16.13%, to Rp92.91 billion from Rp80.00 billion in 2019. Likewise, the cash flow provided by operating activities in 2020 increased substantially by Rp208.14 billion, to Rp214.59 billion from Rp6.45 billion in 2019. Customer trust and employee dedication has supported the successful implementation of the strategies set by Company Management.

Business Prospects in 2021The Indonesian economy in 2021 is expected to see improvement, supported by developments in the handling of Covid-19, including the implementation of the vaccination program that has already begun. This prospect is also supported by the realization of fiscal stimuli as well as Government and Bank of Indonesia’s policies to boost the pace of the economy in various sectors.

Anticipating this, the Company has set the theme of “Gaining Momentum” for the year 2021. The momentum will be generated through the management of three growth engines and supported by strong financial aspects, a growing ecosystem, and a committed work team. We hope the Company will continue to post premium and profitability growth in 2021.

Good Corporate Governance ImplementationImproving the quality of Good Corporate Governance (GCG) implementation is an absolute necessity in the Company’s business, which continues to develop dynamically. More accurate results from the GCG self-assessment are continually sought after, especially with the Company’s principles of fulfilling optimal GCG conditions, both in terms of governance structure and processes, as well as the implementation of good and transparent governance.

Active supervision conducted by the Board of Commissioners, and the direct involvement of the Board of Directors in ensuring the implementation of the internal control system and the risk management system, are also the central keys towards better GCG implementation. The working team’s awareness of the need to implement a culture of risk awareness, in all lines of business and operations being carried out, has had the effect of building more trust in the Company from all stakeholders.

The Implementation of Corporate Social ResponsibilityDuring the Covid-19 pandemic, the Company remained active in carrying out its Corporate Social Responsibility (CSR) which was deemed to fit the needs of the target stakeholder group, particularly in making contributions to society. By continuing to apply strict health protocols, the Company focused its CSR on programs that had broad benefits to the community, in the



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manfaat luas kepada masyarakat dalam bentuk edukasi dan literasi keuangan. Beberapa topik yang disampaikan meliputi pentingnya perencanaan dan investasi keuangan, serta pentingnya investasi properti dan tips memilih properti yang tepat. Melalui peningkatan pengetahuan, diharapkan kesejahteraan masyarakat akan berkembang menjadi lebih baik.

Pengembangan Bisnis Berkelanjutan

Dalam perkembangan dunia bisnis yang semakin tanpa batas fisik, Perseroan sangat mencermati pengembangan bisnis melalui cara-cara digital yang lebih ramah terhadap lingkungan. Konsep ini diterjemahkan ke dalam program 5 tahun ‘3Xp’, yaitu customer experience, user experience, dan employee experience.

Perubahan Komposisi Anggota Direksi

Pada tahun 2020, tidak terdapat perubahan komposisi anggota Direksi Perseroan. RUPS Tahunan yang dilaksanakan pada 7 Agustus 2020 telah memutuskan untuk mengangkat kembali seluruh anggota Direksi untuk masa jabatan sampai dengan ditutupnya RUPS untuk tahun buku 2022 yang akan diselenggarakan pada tahun 2023, dengan tidak mengurangi wewenang RUPS untuk memberhentikan sewaktu-waktu.

PenutupMelalui Laporan Direksi ini, kami menyampaikan terima kasih kepada Pemegang Saham Perseroan yang telah memberikan kepercayaan dan dukungannya, serta kepada Dewan Komisaris yang telah memberikan arahan dan rekomendasi dalam pengelolaan Perseroan. Terima kasih juga kami sampaikan kepada seluruh karyawan dan mitra usaha atas dedikasi dan kerja samanya dalam mengupayakan pertumbuhan usaha, kepada seluruh nasabah korporasi maupun individu atas loyalitasnya, serta kepada segenap pemangku kepentingan lainnya yang telah mendukung Perseroan secara langsung ataupun tidak langsung. Kami berkomitmen untuk terus mengupayakan hal terbaik dalam menghasilkan nilai-nilai yang bermanfaat untuk seluruh pemangku kepentingan.

Presiden DirekturPresident Director

Agus Benjamin

Atas nama Direksi,On behalf of the Board of Directors,

form of education and financial literacy. Some of the topics discussed covered the importance of financial planning and investing, as well as the importance of property investment and tips on how to choose the right property. Through increased knowledge, we hope the welfare of the community will develop for the better.

Sustainable Business Development

In an evolving business world that is increasingly without physical boundaries, the Company is paying close attention to business development through digital means that are more environmentally friendly. This concept is translated into a 5-year program called “3Xp,” which stands for customer experience, user experience and employee experience.

Changes to the Composition of the Board of DirectorsIn 2020, there were no changes to the composition of members of the Board of Directors. The Annual General Meeting of Shareholders (AGMS) took place on August 7th, 2020, where resolution was made to retain all members of the Board of Directors for their term of office until the closing of the GMS for 2022 financial year, which will be held in 2023, without reducing the GMS authority to dismiss at any time.

ClosingThrough this Board of Directors Report, we would like to thank the Shareholders for their trust and support, as well as the Board of Commissioners for providing direction and recommendations in the management of the Company. We also extend our gratitude to all employees and business partners for their dedication and cooperation in pursuing business growth, to all corporate and individual customers for their loyalty, and to all other stakeholders who have supported the Company either directly or indirectly. We remain committed to continuing to strive for the best in generating values that are beneficial to all stakeholders.


Surat Pernyataan Anggota Direksi dan Anggota Dewan KomisarisTentang Tanggung Jawab atas Laporan Tahunan 2020

PT Lippo General Insurance Tbk

Statement of Members of the Board of Directors and the Board of Commissionerson the Responsibility for the 2020 Annual Report of


Kami, yang bertanda tangan di bawah ini, menyatakan bahwa semua informasi dalam Laporan Tahunan PT Lippo General Insurance Tbk tahun 2020 telah dimuat secara lengkap dan kami bertanggung jawab penuh atas kebenaran isi Laporan Tahunan Perseroan.

Demikian pernyataan ini dibuat dengan sebenarnya.

Jakarta, 21 Mei 2021Jakarta, 21 May 2021

DireksiBoard of Directors

Dewan KomisarisBoard of Commissioners

Agus BenjaminPresiden Direktur/President Director

Gilbert Deddy NaibahoDirektur/Director

Jamilah Mawira SungkarKomisaris Independen/Independent Commissioner

Ali ChendraPresiden Komisaris/President Commissioner

Johannes AgusDirektur/Director

Frans LamuryKomisaris Independen/Independent Commissioner

We, the undersigned, hereby declare that all information in the Annual Report of PT Lippo General Insurance Tbk for year 2020 had been presented in its entirety and we are responsible for the correctness of the content of Company’s Annual Report.

This statement is hereby made in all truthfulness.

Tanggung Jawab Laporan TahunanAnnual Report Responsibility

PROFIL PERUSAHAANCOMPANY PROFILE

MyProtection

Layanan UnggulanFlagship Services

E-Benefit HealthE-Benefit General


03 PROFIL PERUSAHAANCompany Profile

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Riwayat SingkatBrief History

PT Lippo General Insurance Tbk didirikan pada tanggal 6 September 1963 dengan nama PT Asuransi Brawidjaja. Perseroan mengubah nama menjadi PT Maskapai Asuransi Marga Suaka pada tanggal 24 Januari 1964. Pada tanggal 1 Oktober 1982, Perseroan mengubah nama kembali menjadi PT Asuransi Marga Pusaka. Perseroan secara resmi beroperasi pada tanggal 1 April 1983. Kemudian, Perseroan mengubah kedudukan usaha yang semula di Surabaya menjadi di Jakarta pada tanggal 9 Januari 1991. Setelah mengalami beberapa kali perubahan, nama Perseroan kemudian ditetapkan menjadi PT Lippo General Insurance pada tanggal 6 Juli 1991.

Untuk mendukung perkembangan berkelanjutan ke tingkatan yang lebih tinggi, pada tanggal 22 Juli 1997, Perseroan melaksanakan penawaran umum saham perdana untuk memperkuat permodalan. Momentum tersebut menjadi motivasi bagi Perseroan untuk terus memperluas jangkauan layanan dan meningkatkan pangsa pasar. Perseroan memiliki kantor di Jakarta (Kota), Jakarta (Gatot Subroto), Karawaci, Cikarang, Bandung, Semarang, Solo, Surabaya, Bali, Makassar, Balikpapan, Medan, Pekanbaru, dan Palembang.

Dengan mengutamakan komitmen memberikan yang terbaik melalui seluruh proses interaksi dengan nasabah, karyawan, dan mitra usaha, Perseroan menjadi entitas bisnis yang memahami kebutuhan berbagai pemangku kepentingan. Hal ini diwujudkan melalui berbagai inovasi dalam menciptakan produk dan layanan. Bahkan, sejak tahun 2018, layanan Perseroan telah sepenuhnya didukung aplikasi digital untuk memberikan kemudahan kepada nasabah dalam memilih dan menggunakan perlindungan asuransi yang sesuai dengan kebutuhannya. Digitalisasi yang menghubungkan nasabah dengan Perseroan dan mitra usaha dimanapun dan kapanpun menjadikan layanan lebih efektif dan efisien dari sisi waktu dan biaya. Keunggulan inilah yang akan terus Perseroan tingkatkan secara konsisten.

PT Lippo General Insurance Tbk was established on September 6th, 1963 under the name PT Asuransi Brawidjaja. The Company changed its name to PT Maskapai Asuransi Marga Suaka on January 24th, 1964. Then, on October 1st, 1982, the Company changed its name again to PT Asuransi Marga Pusaka. The Company officially commenced its operation on April 1st, 1983. Then, the Company changed its domicile from Surabaya to Jakarta on January 9th, 1991. After undergoing several changes, the Company’s name was later changed again to PT Lippo General Insurance on July 6th, 1991.

To support sustainable development to a higher level, on July 22nd, 1997, the Company conducted an initial public offering of shares to strengthen its capital. This momentum became a motivation for the Company to continue expanding service coverage and increase market share. The company has offices in Jakarta (City), Jakarta (Gatot Subroto), Karawaci, Cikarang, Bandung, Semarang, Solo, Surabaya, Bali, Makassar, Balikpapan, Medan, Pekanbaru, and Palembang.

By prioritizing the commitment to provide the best through the entire interaction process with customers, employees and business partners, the Company became a business entity that understands the needs of various stakeholders. This is realized through various innovations in developing products and services. In fact, since 2018, the Company services have been fully supported by digital applications to provide convenience for customers to choose and use insurance protection that suits their needs. Digitalization that connects customers with the Company and business partners everywhere at all time makes services more effective and efficient in terms of time and cost. This advantage is what the Company will continue to improve consistently.

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Visi dan Misi Vision and Mission

VISI VISION

MISI MISSION

Menjadi salah satu perusahaan asuransi umum terkemuka di Indonesia dengan akses yang kuat dalam jaringan internasional.

To be one of the leading general insurers in Indonesia with a strong access in the international networks.

Menjalankan usaha perasuransian umum secara profesional dan penuh kehati-hatian serta berkomitmen tinggi untuk mencapai pertumbuhan yang sehat melalui standar pelayanan yang super.

Conducting general insurance business professionally and prudently with high commitment to profitable growth through superior standards of service.


Tinjauan Visi dan Misi oleh Dewan Komisaris dan Direksi

Company Vision and Mission Reviewby the Board of Commissioners and Board of Directors

Visi dan Misi Perseroan telah ditinjau oleh Dewan Komisaris dan Direksi bersamaan dengan penyusunan Rencana Bisnis Perseroan di tahun 2020. Visi dan Misi tersebut juga masih sesuai dengan pencapaian Perseroan saat ini dan rencana pengembangan di masa depan.

The Company’s Vision and Mission have been reviewed by the Board of Commissioners and Board of Directors along with the preparation of the Company’s Business Plan for 2020. The Vision and Mission are still consistent with the Company’s current achievements and future development plans.

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Kebijakan Mutu PerseroanCompany’s Quality Policy

Untuk mencapai Visi dan Misi, maka penerapan nilai, budaya, dan sistem manajemen mutu Perseroan perlu disertai dengan pernyataan kebijakan mutu yang telah diterapkan dan disosialisasikan kepada seluruh pihak berkepentingan, meliputi:1. Meningkatkan kualitas produk dan layanan secara terus-

menerus sesuai dinamika kepuasan nasabah;2. Mengembangkan sumber daya manusia secara

berkesinambungan agar tetap kompeten secara teknis, profesional secara sikap, dan berintegritas secara moral;

3. Mengoptimalkan pengelolaan sarana dan prasarana guna mencapai produktivitas optimum;

4. Menjaga keseimbangan aspek fundamental, komersial, dan inovasi dalam pengelolaan risiko; dan

5. Memastikan operasional Perseroan sesuai tata kelola perusahaan yang baik dan peraturan yang berlaku dengan dilandaskan pada prinsip-prinsip pengelolaan proses kerja yang memenuhi standar kendali mutu.

Nilai dan budaya perusahaan dibentuk sebagai pedoman bagi seluruh insan Perseroan dalam melaksanakan tugas dan tanggung jawabnya, serta sebagai etika yang harus dijunjung untuk mencapai tujuan yang telah ditentukan.

The corporate values and culture are established as a guideline for all Company personnel in carrying out their duties and responsibilities, as well as ethics that must be upheld to achieve predetermined goals.

To achieve the Vision and Mission, the implementation of the Company’s values, culture and quality management system needs to be accompanied by a quality policy statement that has been implemented and disseminated to all interested parties, including:1. Continuously improving the products and services quality in

accordance with the customer satisfaction dynamics;2. Continuous development of human resources so they remain

technically competent, behave in a professional manner, and have a morally integrity;

3. Optimizing the management of facilities and infrastructure to achieve optimum productivity;

4. Maintaining a balance of fundamental, commercial, and innovation aspects in risk management; and

5. Ensuring that the Company’s operations comply with good corporate governance and applicable regulations based on the working process management principles that meet quality control standards.

Nilai dan Budaya Perusahaan Corporate Values and Culture



Selalu bersyukurAlways be grateful

Menjunjung tinggi etika dan moral

To uphold ethics and morals

Keinginan kuat untuk bekerja dengan sepenuh hati Strong passion to work wholeheartedly

Terus maju & berkembang

To move forward & grow

GRATEFULNESS INTEGRITY

PASSION PROGRESS

INTEGRITY

GRATEFULNESS

PASSION PROGRESS

I

GP P


Bidang UsahaLine of Business

Berdasarkan Anggaran Dasar, Perseroan menjalankan usaha dalam bidang asuransi. Untuk mencapai maksud dan tujuan tersebut, Perseroan melakukan kegiatan usaha:

1. Jasa asuransi non-jiwa konvensional Mencakup usaha perasuransian yang khusus menanggung

risiko atas kerugian, kehilangan harta benda/milik, termasuk juga tanggung jawab hukum kepada pihak ketiga yang mungkin terjadi terhadap benda/milik tertanggung karena sebab-sebab tertentu, dengan suatu nilai pertanggungan yang besarnya telah ditentukan dan disetujui oleh kedua belah pihak yang dicantumkan dalam surat perjanjian.

2. Jasa asuransi selain asuransi jiwa Mencakup asuransi kecelakaan, kebakaran, kesehatan,

perjalanan, properti, transportasi, kendaraan bermotor, kapal dan penerbangan, serta pertanggungjawaban dan kehilangan keuangan.

Pursuant to the Articles of Association, the Company engages in the insurance business. To achieve aforementioned purpose and objective, the Company’s conduct the following business activities:1. Conventional general insurance service Includes insurance business that specifically covers

the risk of loss, loss of properties/goods including legal liability to third parties that may occur against the properties/goods of the insured for certain reasons with predetermined coverage value both parties agreed upon as stated in the insurance policy.

2. Insurance service with the exclusion of life insurance Includes accident, fire, health, travel, property,

transportation, vehicle, marine and aviation insurances, as well as liability and financial loss insurance.



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Produk dan LayananProducts and Services

Produk

1. Asuransi KesehatanMenawarkan perlindungan kesehatan optimum terhadap perorangan maupun perusahaan (employee benefits) dengan jumlah premi dan spesifikasi produk sesuai dengan kebutuhan.

MedicareDirancang khusus untuk kebutuhan perusahaan guna memberikan perlindungan kesehatan bagi karyawan maupun tanggungannya. Program ini dapat memberikan rasa aman bagi karyawan dan keluarganya sehingga mampu meningkatkan nilai perusahaan bagi karyawan.

MedicareThis product is designed specifically to the Company’s needs to provide health protection to employees and their dependents. This will ultimately create a sense of comfort and security for employees and their family members thus increasing the Company’s value in the eyes of its employees.

HealthPlus + FamilyMemberikan penggantian biaya medis bagi individu maupun keluarga apabila nasabah menjalani rawat inap dan rawat jalan. Keunggulan produk ini adalah memberikan fasilitas tanpa pembayaran tunai sehingga sistem pembayaran manfaat asuransi dapat dilakukan melalui fasilitas cashless. Produk ini telah bekerja sama dengan lebih dari 1.000 rumah sakit yang tersebar di seluruh Indonesia, serta memiliki 1x24 jam contact center dan case monitoring.

HealthPlus + FamilyThis product provides medical expense reimbursement for inpatient and outpatient cares for individuals and family members. The advantage of this product is to provide cashless facilities so the insurance benefit payment system can be done through a cashless facility. This product has a collaboration with more than 1,000 hospitals throughout Indonesia, as well as 24 hour contact center and case monitoring.

HealthPlus + MicroDiperuntukkan bagi usaha kecil dan menengah (UKM) dengan syarat minimum 5 karyawan. Produk asuransi kesehatan bagi karyawan dan tanggungan karyawan ini memberikan manfaat rawat inap dan rawat jalan dengan skema inner limit.

HealthPlus + Micro

This product is aimed to the segment of small and medium-sized enterprises (SMEs) with a minimum requirement of 5 employees. The product offers health insurance for employees and their dependents provides inpatient and outpatient benefits with inner limit scheme.

HealthPlus + BusinessDiperuntukkan bagi UKM dengan syarat minimum 5 karyawan yang memberikan paket manfaat rawat inap, rawat jalan, dan perawatan gigi sesuai tagihan (as charged).

HealthPlus + BusinessThis product is aimed at small and medium-sized enterprises (SMEs) with a minimum requirement of 5 employees to provides a comprehensive insurance benefit package including inpatient, outpatient, and dental care benefits (as charged).

Elite Health Plan & Essential Health PlanProduk asuransi kesehatan International Private Medical Insurance ini berlaku di seluruh dunia.

Elite Health Plan & Essential Health Plan

This is an International Private Medical health insurance product that applies throughout the world.

Products

1. Health InsuranceOffers optimum health protection for individuals and companies (employee benefits) with premium amounts and product specifications according to the customers needs.


Perlindungan Kesehatan PrimaMemberikan manfaat rawat inap dan rawat jalan bagi individu serta keluarga di wilayah Indonesia dan luar negeri. Manfaat asuransi ini menggunakan skema inner limit.

Perlindungan Kesehatan PrimaThis product provides inpatient and outpatient benefits in Indonesia and abroad for individuals and families. The insurance benefit is offered with inner limit scheme.

Asuransi Jalan PrimaMemberikan manfaat rawat jalan di klinik-klinik yang merupakan rekan Asuransi Jalan Prima tersebar di seluruh Indonesia.

Asuransi Jalan Prima

Provides outpatient benefits in clinics which partner with Asuransi Jalan Prima throughout Indonesia.

2. Asuransi Non-Kesehatan Menawarkan perlindungan optimal atas kepemilikan

pribadi nasabah, seperti kendaraan bermotor, barang elektronik, properti, kargo/logistik, dan lainnya.

Auto ProtectionProduk asuransi untuk kendaraan bermotor roda 4 atau lebih dengan bentuk jaminan dasar yang diberikan meliputi total loss only atau comprehensive.

Auto ProtectionInsurance product for four-wheel or more motor vehicles with basic insurance coverages including total loss only or comprehensive.

Golden CareProduk asuransi kecelakaan diri khusus untuk individu yang berusia 50-75 tahun dengan manfaat yang meliputi santunan meninggal dunia akibat kecelakaan, cacat tetap dan cacat tetap sebagian akibat kecelakaan, penggantian biaya pengobatan dan perawatan akibat kecelakaan, serta santunan biaya pemakaman.

Golden CarePersonal accident insurance product specifically for individuals aged 50-75 years with benefit for death due to accident, benefit for total permanent disability and partial permanent disability due to accident, reimbursement of medical expenses and treatment due to accident, as well as funeral expense.

SuperSaktiProduk asuransi terhadap barang elektronik/gadget baru yang dibeli.

SuperSaktiInsurance protection for newly purchases electronic goods/gadgets.

Motor ProtectionProduk asuransi kendaraan bermotor untuk roda 2 yang memberikan manfaat perlindungan atas risiko kehilangan, kerusakan total, dan kecelakaan pada saat berkendara.

Motor ProtectionMotor vehicle insurance product for two-wheel motor vehicles that provides insurance protection against the risk of loss, total damage, and accident while driving.

2. Non-Health Insurance Offers optimal protection for customers’ private assets,

such as motor vehicles, electronic goods, logistics, cargo/logistics, and others.



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Home ProtectionProduk asuransi rumah tinggal dengan jaminan lengkap dan tersedia dalam 3 pilihan yang dapat disesuaikan dengan kebutuhan. Manfaat yang diberikan terkait perlindungan menyeluruh untuk rumah tinggal, apartemen beserta isinya dari risiko kebakaran, ledakan, petir, kejatuhan pesawat terbang, asap, kerusuhan, pemogokan, huru-hara, topan, badai, kerusakan karena air, tanah longsor, pembongkaran, dan accidental damage, termasuk perlindungan asuransi bagi penghuni dan penggantian biaya pengobatan karena sebab yang dijamin.

Home ProtectionHomeowners insurance product that provides comprehensive protection through 3 (three) package options that can be adjusted to with customers’ needs. Home Protection provides comprehensive protection for homes, fully furnished apartments from the risk of fire, explosion, lightning, damage caused by aircrafts, smoke, riots, strikes, civil commotions, typhoons, hurricanes, water damages, landslides, demolition, and accidental damages, including the insurance protection for residents and reimbursement of medical expenses for residents due to covered perils.

Marine CargoProduk asuransi yang menjamin kerugian dan kerusakan barang terkait risiko yang mungkin terjadi selama pengangkutan, baik melalui laut, darat, dan udara.

Marine CargoInsurance product that covers loss or damage to goods against risks that may occur during the used of transportation by sea, land, and air.

MyTravel Protection Domestic Produk asuransi yang diberikan untuk perjalanan domestik guna melindungi individu dan keluarga selama 24 jam dari risiko kecelakaan dan ketidaknyamanan perjalanan di Indonesia, seperti kehilangan bagasi, penundaan jadwal penerbangan, dan lainnya.

MyTravel Protection Domestic Insurance product provided for domestic travel that provides 24-hour protection to individuals and their family members against risks of accidents, and inconveniences of traveling in Indonesia such as lost luggage, flight delays, and others.

MyTravel Protection Internasional Produk asuransi yang diberikan untuk perjalanan internasional dengan jaminan biaya pengobatan tanpa pembayaran tunai (cashless).

MyTravel Protection Internasional Insurance product provided for international travel that covers cashless medical expenses.

Business CareProduk asuransi yang memberikan solusi perlindungan untuk semua jenis usaha dengan menjamin kegiatan usaha terhindar dari berbagai kerugian finansial akibat bencana alam ataupun pencurian.

Business CareInsurance product that provides protection solution suitable for all types of business against financial losses that may occur as a result of natural disaster or theft.

Asuransi AnekaProduk asuransi yang memberikan beragam manfaat, meliputi:a. Asuransi rekayasa/engineering (contractor/

erection);b. Asuransi kerusakan mesin;c. Asuransi kebongkaran;d. Asuransi tanggung gugat hukum;e. Asuransi uang;f. Asuransi alat berat; dang. Asuransi hole in one (golf).

Asuransi AnekaInsurance product that provides benefits for various needs, including the following:a. Engineering (contractor/erection) insurance;

b. Engine damage insurance;c. Demolition insurance;d. Legal liability insurance;e. Money insurance;f. Heavy equipment insurance; andg. Hole-in-one (golf) insurance.


Layanan

Perseroan juga memberikan berbagai layanan komprehensif untuk mendukung produk asuransi kesehatan dan non-kesehatan.

Service Center (Bengkel Layanan Khusus)Layanan asuransi kendaraan bermotor dengan kemudahan akses, pelayanan, dan fasilitas terbaik.

Service Center (Special Service Workshop)Motor vehicle insurance services with easy access, best services, and facilities.

Partner Workshop (Bengkel Rekanan)Layanan asuransi untuk kendaraan bermotor yang didukung oleh bengkel rekanan dengan garansi 6 bulan untuk semua pekerjaan, perbaikan, dan suku cadang.

Partner WorkshopInsurance services for motor vehicles supported by partner workshops with a 6-month warranty for all work, repairs, and spare parts.

e-Policy (Polis Elektronik)Layanan asuransi berupa penyediaan polis digital, yaitu fasilitas bagi nasabah dapat mengakses polis, memantau status klaim, dan mengajukan perpanjangan polis secara digital.

e-PolicyInsurance services in the form of providing digital policies, i.e. facilities for customers to digitally access policies, monitor claim status, and files policy extension.

Hospital & Clinic Provider (Rumah Sakit dan Klinik Rekanan)Layanan asuransi kesehatan yang dapat dilakukan pada rumah sakit dan klinik rekanan.

Hospital & Clinic Provider

Health insurance services that can be done at hospitals and clinics provider.

e-Benefit (Status Klaim dan Manfaat)Aplikasi yang memberikan layanan asuransi terkait klaim asuransi dan manfaat yang dapat diterima oleh nasabah.

e-Benefit Application that provides insurance services related to insurance claims and benefits that can be received by customers.

Personal Medical AssistantLayanan asuransi yang menyediakan asisten medis di beberapa rumah sakit rekanan Perseroan.

Personal Medical AssistantInsurance service that provides medical assistants in several partner hospitals.

i-MeditapLayanan asuransi yang memberikan kemudahan kepada nasabah dalam melakukan pembayaran administrasi rumah sakit dengan menggunakan scan QR code.

i-MeditapAn insurance service that provides convenience for customers to make hospital administration payments by using a QR code scan.

MyProtectionLayanan asuransi yang memberikan kemudahan bagi nasabah untuk memilih perlindungan asuransi yang menyeluruh sesuai kebutuhan.

MyProtectionInsurance service that provides convenience for customers to choose comprehensive insurance coverage according to their needs.

Layanan

The Company also provides a comprehensive range of services to support health and non-health insurance products.


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Struktur OrganisasiOrganizational Structure

Struktur organisasi Perseroan per 31 Desember 2020 dijabarkan sebagai berikut.

The Company’s organizational structure as of December 31st, 2020 is described as follows.


MEDICAL COMMITTEE

INVESTMENT COMMITTEE

CUSTOMER COMPLAIN HANDLING COMMITTEE

INTERNAL AUDITANTI-FRAUDCOMMITTEE

GCG COMMITTEE

RISK MANAGEMENTCOMMITTEE

PRODUCT DEVELOPMENT

COMMITTEE

APU PPTCOMMITTEE

AUDIT COMMITTEE

REMUNERATION &NOMINATION COMMITTEE

BOARD OFCOMMISSIONERS

BOARD OF DIRECTORS

CHIEF EXECUTIVE OFFICER

FINANCE AND ADMINISTRATION

FINANCE ANDACCOUNTING

HEALTH FINANCE

GENERAL FINANCE

BRANCHCOLLECTION ANDADMINISTRATION

ACCOUNTING

GENERALSERVICE

DIGITAL INNOVATION AND

SOLUTION

SYSTEM MANAGEMENT

INFRASTRUCTURE AND OPERATION

IT SECURITY

IT

CENTRALPROCESSING

ACTUARY ANDHEALTH UW

RISKMANAGEMENT

CUSTOMER CARE

HEALTH CASEMONITORING

GENERAL - MV CONTACTCENTER

GENERAL - NON MV 1

PROVIDERRELATION

GENERAL - NON MV 2

DOCUMENTMANAGEMENTSYSTEM (DMS)

HEALTH

GENERAL

OPERATION

RISKMANAGEMENT

CLAIMQUALITY

ASSURANCE

PEOPLE DEVELOPMENT

TALENT MANAGEMENT

COMPENSATION AND BENEFIT

LEGAL

CORPORATE SECRETARY

COMPLIANCE

CORPORATE RELATION

CORPORATE RELATION 1

CORPORATE RELATION 2

ACCOUNTDEV 1

ACCOUNT DEV 2

MARKETINGCOMMUNICATION

FINANCIALINSTITUTION

COMMERCIAL BUSINESS UNIT

DIGITALDEVELOPMENT

ALTERNATIVE CHANNEL

RETAIL BUSINESS UNIT

BRANCHES AND NETWORK

BROKERS

AGENCY

MARINE AND MISCELLANEOUS

PROPERTY AND ENGINEERING

COMMERCIAL


Profil Dewan KomisarisBoard of Commissioners’ Profile


Ali Chendra*

Warga Negara Indonesia, 61 tahun, berdomisili di Jakarta. Menjabat sebagai Presiden Komisaris berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020 yang kemudian ditegaskan dalam Akta No. 5 tanggal 5 Februari 2021. Beliau memperoleh gelar Diploma bidang Teknologi Komputer, Control Data Institute Toronto, Kanada pada 1979. Beliau memiliki sertifikasi sebagai Qualified Risk Governance Professional (QRGP).

Sebelum menjabat sebagai Presiden Komisaris Perseroan, beliau pernah menjabat sebagai Direktur PT Total Data (1983-1993), Direktur PT Telplus Digitalindo dan PT Telepoint Nusantara (1993-2000), Direktur Utama PT Datakom Asia (2001-2004), Mobile 8 dengan jabatan terakhir sebagai Komisaris (2001-2012), Indovision dengan jabatan terakhir sebagai Presiden Direktur (2001-2012), Vice Chairman Asosiasi Penyelenggara Multimedia Indonesia (APMI) (2002-2006), Executive Vice President PT Global Mediacom (2006-2007), Direktur Utama PT Infokom Elektrindo (2007-2009), Presiden Komisaris PT Link Net Tbk (2013-2019). Beliau pernah berkarier di PT First Media Tbk sebagai Direktur (2013-2014), Presiden Direktur (2014-2017), dan Komisaris (2017-2020). Beliau juga pernah menduduki beberapa jabatan di PT Multipolar Technology Tbk sebagai Wakil Presiden Komisaris (2014-2016), dan Presiden Komisaris (2017-2018). Selain itu, beliau juga pernah menjabat sebagai Komisaris PT Bussan Auto Finance (2014-2018).

Selain menjabat sebagai Presiden Komisaris Perseroan, beliau juga menjabat sebagai Presiden Komisaris PT Graha Teknologi Nusantara (GTN) (sejak 2016).

Indonesian Citizen, 61 years old, domiciled in Jakarta. Serves as the President Commissioner pursuant to the Resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020 which confirmed in Deed No. 5 dated February 5th, 2021. He obtained a Diploma in Computer Technology, Control Data Institute Toronto, Canada in 1979. He is certified as Qualified Risk Governance Professional (QRGP).

Prior to serving as the President Commissioner of the Company, he was previously served as a Director of PT Total Data (1983-1993), a Director of PT Telplus Digitalindo and PT Telepoint Nusantara (1993-2000), the President Director of PT Datakom Asia (2001-2004), Mobile 8 with the last position as a Commissioner (2001-2012), Indovision with the last position as the President Director (2001-2012), Vice Chairman of Indonesian Multimedia Organizers Association (APMI) (2002-2006), Executive Vice President of PT Global Mediacom (2006-2007), the President Director of PT Infokom Elektrindo (2007-2009), the President Commissioner of PT Link Net Tbk (2013-2019). He previously worked at PT First Media Tbk as a Director (2013-2014), the President Director (2014-2017), and a Commissioner (2017-2020). He has also hold several positions at PT Multipolar Technology Tbk among others as the Vice President Commissioner (2014-2016) and the President Commissioner (2017-2018). In addition, he also served as a Commissioner of PT Bussan Auto Finance (2014-2018).

In addition to serving as the President Commissioner of the Company, he also serves as the President Commissioner of PT Graha Teknologi Nusantara (GTN) (since 2016).

* Diangkat berdasarkan Keputusan Rapat Umum Pemegang Saham tanggal 7 Agustus 2020 dan efektif menjabat sesuai Surat Keputusan Penilaian Kemampuan dan Kepatutan Otoritas Jasa Keuangan No. KEP-46/NB.11/2021 per tanggal 29 Januari 2021.

* Appointed pursuant to the Resolution of the General Meeting of Shareholders on August 7th, 2020 and has served effectively in accordance with the Decree of the Financial Services Authority’s Fit and Proper Test No. Kep-46/NB.11/2021 as of January 29th, 2021.



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Komisaris IndependenIndependent Commissioner

Frans Lamury

Warga Negara Indonesia, 78 tahun, berdomisili di Jakarta. Menjabat sebagai Komisaris Independen Perseroan sejak Agustus 2015 dengan pengangkatan kembali berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020. Beliau telah menyelesaikan pendidikan dan pelatihan di bidang manajemen dan asuransi baik di dalam negeri dan luar negeri. Beliau memiliki sertifikasi sebagai Ahli Asuransi Indonesia (Kerugian) dari Asosiasi Ahli Manajemen Asuransi Indonesia (AAMAI) serta Sertifikat Senior Associateship Australian New Zealand Institute of Insurance of Finance (ANZIIF).

Sebelum menjabat sebagai Komisaris Independen Perseroan, beliau pernah menjabat sebagai Staf Underwriting di PT Asuransi Gajah Mada (1962-1964), PT Asuransi Indrapura (1964-1970), dan American International Underwriters-AIU (1970-1976). Setelah itu, beliau menjabat sebagai Manager Underwriting dan Direktur Teknik di Asuransi Royal Indrapura (1976-1984), Presiden Direktur PT Asuransi Royal Indrapura (1984-1993), Wakil Presiden Direktur di PT Asuransi Sinar Mas Dipta (1993-2000), Wakil Presiden Direktur Perseroan (2000-2004), Ketua Badan Mediasi Asuransi Indonesia (BMAI) (2007-2019), dan Anggota Komite Audit Perseroan (2014-2017).

Selain menjabat sebagai Komisaris Independen Perseroan, beliau juga menjabat sebagai Advisor Teknik Perseroan (sejak 2005), Komisaris Utama PT Jaya Proteksindo Sakti (Pialang Asuransi) (sejak 2012), Ketua Komite Audit Perseroan (sejak 2018), Anggota Komite Nominasi dan Remunerasi Perseroan (sejak 2019), dan Ketua Komite Pemantau Risiko Perseroan (sejak 2019).

Indonesian Citizen, 78 years old, domiciled in Jakarta. He serves as Independent Commissioner of the Company since August 2015 with re-appointment pursuant to the Resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020. He has completed education and training in management and insurance, both in Indonesia and abroad. He is certified as an Indonesian Insurance Expert (General Insurance) from the Indonesian Insurance Institute (AAMAI) and Senior Associateship Australian New Zealand Institute of Insurance of Finance (ANZIIF).

Prior to serving as Independent Commissioner of the Company, he had served as Underwriting Staff at PT Asuransi Gajah Mada (1962-1964), PT Asuransi Indrapura (1964-1970) and American International Underwriters-AIU (1970-1976). Afterwards, he served as Underwriting Manager and Technical Director of Asuransi Royal Indrapura (1976-1984), President Director of PT Asuransi Royal Indrapura (1984-1993), Vice President Director of PT Asuransi Sinar Mas Dipta (1993-2000), Vice President Director of the Company, Vice President Director of the Company (2000-2004), the Chairman of the Indonesian Insurance Mediation Agency (BMAI) (2007-2019), and a member of the Company’s Audit Committee (2014-2017).

In addition to serving as an Independent Commissioner, he also serves as the Technical Advisor of the Company (since 2005), the President Commissioner of PT Jaya Proteksindo Sakti (Insurance Broker) (since 2012), the Chairman of the Audit Committee (since 2018), Member of the Nomination and Remuneration Committee (since 2019), and the Chairman of the Risk Monitoring Committee (since 2019).



Jamilah Mawira Sungkar

Warga Negara Indonesia, 67 tahun, berdomisili di Jakarta. Menjabat sebagai Komisaris Independen Perseroan sejak 2019 dengan pengangkatan kembali berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020. Beliau pernah menjadi mahasiswa Sastra Inggris di Universitas Indonesia pada 1972 dan lulusan Aviasi dari Los Angeles Airline Academi, USA pada 1973. Beliau memiliki sertifikasi sebagai Qualified Risk Governance Professional (QRGP).

Sebelum menjabat sebagai Komisaris Independen Perseroan, beliau pernah bekerja di Pan American World Airways dengan jabatan terakhir sebagai Manager (1975-1983), Public Relations The Jakarta Mandarin Hotel (1983-1984), Manager PT Rana Sankara (PT Genta Biru) (1983-1985), Regional Membership Director Club Corporation of Asia (Indonesia-Hongkong) (1985-1993), Consultant Financial Club Golf Bogor Raya, Golf Rancamaya, Golf Rimba Irian Timika (1993-1995), Direktur Utama PT Nusasarana Pradipta – Financial Club (1995-2007), Penasihat Financial Club Jakarta (2007-2020), dan Komisaris PT AON Indonesia (2015-2019).

Selain menjabat sebagai Komisaris Independen Perseroan, beliau juga menjabat sebagai Presiden Komisaris PT Panin Asset Management (sejak 2011), dan Anggota Komite Kebijakan Tata Kelola Perusahaan di Perseroan (sejak 2019).

Indonesian Citizen, 67 years old, domiciled in Jakarta. Serves as an Independent Commissioner of the Company since 2019 with re-appointment pursuant to the Resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020. She was a student of English Literature from Universitas of Indonesia in 1972 and graduated from Aviation from Los Angeles Airline Academy, USA in 1973. She is certified as a Qualified Risk Governance Professional (QRGP).

Prior to serving as an Independent Commissioner of the Company, she previously worked at Pan American World Airways with her last position as Manager (1975-1983), Public Relations at The Jakarta Mandarin Hotel (1983-1984), a Manager of PT Rana Sankara (PT Genta Biru) (1983-1985), Regional Membership Director of Club Corporation of Asia (Indonesia-Hongkong (1985-1993), a Consultant for Financial Club Golf Bogor Raya, Golf Rancamaya, Golf Rimba Irian Timika (1993-1995), the President Director of PT Nusasarana Pradipta – Financial Club (1995-2007), Advisor of Financial Club Jakarta (2007-2020), and a Commissioner of PT AON Indonesia (2015-2019).

In addition to serving as an Independent Commissioner of the Company, she also serves as the President Commissioner of PT Panin Asset Management (since 2011), and Member of the Company’s Corporate Governance Policy Committee (since 2019).



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Profil DireksiBoard of Directors’ Profile


Agus Benjamin

Warga Negara Indonesia, 51 tahun, berdomisili di Tangerang Selatan. Menjabat sebagai Presiden Direktur Perseroan sejak Maret 2011 dengan pengangkatan kembali berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020. Mempunyai pengalaman sebagai Eksekutif di PT Gajah Tunggal Prakarsa, PT Asuransi Jiwa Ekalife, dan PT Asuransi Sinar Mas. Pernah menjabat sebagai Presiden Komisaris PT Lippo Life Assurance, Komisaris PT Siloam International Hospital Tbk dan PT Unimaxx Comm Mitra.

Lulusan terbaik jurusan Teknik Pertambangan dari Institut Teknologi Bandung pada 1994, Sarjana Ekonomi dari Universitas Terbuka pada 1995, dan Magister Manajemen Prasetiya Mulya Business School pada 1995 dengan predikat Cum Laude. Memiliki kualifikasi Senior Associate CIP The Australian and New Zealand Institute of Insurance and Finance, Fellow of The Chartered Institute of Marketing, United Kingdom. Memiliki kompetensi keahlian dalam bidang Asuransi Umum, Asuransi Jiwa dan Risk Management dari Asosiasi Ahli Manajemen Asuransi Indonesia: AAIK, AAAIJ, ICPU, QIP, AMRP.

Mendapatkan penghargaan “The Most Visionary Indonesia Insurance CEO 2012” dari Business Review, “Indonesia Future Transformation Leader 2013” dari SWA, “The Best CEO 2014” dari SWA – IPSOS, dan “Top CEO 2017” dari Business News.

Aktif sebagai Wakil Ketua Komite Tetap Asuransi dan Dana Pensiun, Kamar Dagang dan Industri (KADIN) Indonesia.

Indonesian Citizen, 51 years old, domiciled in South Tangerang. He serves as the President Director of the Company since March 2011 with re-appointment pursuant to the resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020. He has extensive experience as an Executive of PT Gajah Tunggal Prakarsa, PT Asuransi Jiwa Ekalife, and PT Asuransi Sinar Mas. He was the President Commissioner of PT Lippo Life Assurance, Commissioner PT Siloam International Hospitals Tbk and PT Unimaxx Comm Mitra.

He obtained Bachelor in Engineering, best graduate from Institut Teknologi Bandung in 1994, and Bachelor in Economics from Universitas Terbuka in 1995, and Master in Management from Prasetya Mulya Business School in 1995 with Cum Laude predicate. He has qualification as a Senior Associate CIP of The Australian and New Zealand Institute of Insurance and Finance, Fellow of The Chartered Institute of Marketing, United Kingdom. He has professional competence in General Insurance, Life Insurance and Risk Management from The Insurance Expert Association of Indonesia i.e. AAIK, AAAIJ, ICPU, QIP, AMRP.

He received several awards and recognitions as “The Most Visionary Indonesian Insurance CEO 2012” from Business Review, “Indonesia Future Transformation Leader 2013” from SWA, “The Best CEO 2014” from SWA – IPSOS and “Top CEO 2017” from Business News.

He serves as Deputy Head of Insurance and Pension Funds Department, The Indonesian Chamber of Commerce and Industry (KADIN).


DirekturDirector

Johannes Agus

Warga Negara Indonesia, 68 tahun, berdomisili di Jakarta. Menjabat sebagai Direktur Perseroan sejak 2015 dengan pengangkatan kembali berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020. Memperoleh gelar di bidang Manajemen Keuangan dari Universitas Indonesia, Jakarta pada tahun 1987. Memiliki sertifikasi sebagai Qualified Insurance Practitioner (QIP) dan Ahli Manajemen Risiko Perasuransian (AMRP).

Sebelum menjabat sebagai Direktur Perseroan, pernah menjabat sebagai Auditor di Kantor Akuntan Publik SGV Utomo (1978) dan Akuntan Keuangan di PT Richardson-Vicks Indonesia (1982). Selain itu, juga pernah menjabat sebagai Manajer Keuangan PT Astra International (1984-1987), General Manager PT Astra International (1987-1992), Direktur Keuangan PT Multi France Motor (1994-1998), Direktur Keuangan PT FBM Export Center (1998-2000), dan Direktur Keuangan PT Lippo E-Net Tbk (2000-2003). Pernah menjabat sebagai Direktur Perseroan (2003-2013) dan Presiden Direktur PT Lippo Life Assurance (2013-2015).

Selain menjabat sebagai Direktur Perseroan, juga menjabat sebagai Presiden Komisaris PT Lippo Life Assurance (sejak 2016).

Indonesian Citizen, 68 years old, domiciled in Jakarta. He served as Director of the Company since 2015 with re-appointment pursuant to the resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020. He has a degree in Financial Management from Universitas Indonesia, Jakarta in 1987. He is certified as an Qualified Insurance Practitioner (QIP) and Insurance Risk Management Expert (AMRP).

Prior to serving as the Director of the Company, he previously served as an Auditor at Public Accounting Firm SGV Utomo (1978) and Financial Accountant at PT Richardson-Vicks Indonesia (1982). In addition, he also served as Financial Manager of PT Astra International (1984-1987), General Manager of PT Astra International (1987-1992), Financial Director of PT Multi France Motor (1994-1998), Financial Director of PT FBM Export Center (1998-2000), and Financial Director of PT Lippo E-Net Tbk (2000-2003). Previously served as Director of the Company (2003-2013) and President Director of PT Lippo Life Assurance (2013-2015).

In addition to serving as Director of the Company, he also serves as President Commissioner of PT Lippo Life Assurance (since 2016).



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Direktur Director

Gilbert Deddy Naibaho

Warga Negara Indonesia, 44 tahun, berdomisili di Tangerang. Menjabat sebagai Direktur Perseroan sejak 2015 dengan pengangkatan kembali berdasarkan Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020. Beliau memperoleh gelar Magister Manajemen (MM) dari Universitas Pelita Harapan (UPH), Jakarta pada tahun 2014.

Sebelum menjabat sebagai Direktur Perseroan, pernah menjabat sebagai Management Trainee dan Officer di bagian Marketing dan Teknik di Kantor Pusat. Setelah itu, bertugas di beberapa kantor cabang, antara lain Cabang Bandung, Cabang Surabaya, Cabang Karawaci, dan Cabang Medan (2002-2010). Posisi terakhir adalah sebagai Area Manager Sumatera. Kemudian dipromosikan menjadi Business Development Division Head and Branch Coordinator di Kantor Pusat (2010), lalu menjabat sebagai Senior Vice President Operation (2013-2015).

Beliau telah memiliki sertifikasi ANZIIF (Senior Associate) CIP, AAIK, QIP, dan CRGP. Beliau juga memperoleh penghargaan sebagai “The 3rd Champion” pada ajang Indonesia Future Business Leader Award (2016) dari majalah SWA.

Indonesian Citizen, 44 years old, domiciled in Tangerang. He served as Director of the Company since 2015 with re-appointment pursuant to the resolution of the Annual GMS as stated in Deed No. 7 dated August 7th, 2020. He achieved Master of Management (MM) from Pelita Harapan University (UPH) Jakarta in 2014.

Prior to serving as the Director of the Company, he previously served as Management Trainee and officer in Marketing and Technical Division at the Head Office. Subsequently, he served at several branch offices, such as in Bandung, Surabaya, Karawaci, and Medan (2002-2010). His last position was Sumatra Area Manager. Afterwards, he was promoted to Business Development Division Head and Branch Coordinator at the Head Office (2010), then served as Senior Vice President Operation (2013-2015).

He is certified as ANZIIF (Senior Associate) CIP, AAIK, QIP, and CRGP. He also achieved an award as “The 3rd Champion” in Indonesia Future Business Leader Award (2016) from SWA magazine.


Profil Komite di Bawah Dewan Komisaris Profile of Committees Under the Board of Commissioners

KetuaChairman

Frans Lamury

Periode Menjabat dan Dasar PengangkatanOffice Tenure and Basis of Appointment

2018-2020 : Surat Keputusan Dewan Komisaris tanggal 18 Juli 2018. 2018-2020 : Board of Commissioners Decree dated July 18th, 2018.

Profil lengkap dapat dilihat pada bagian Profil Dewan Komisaris dalam Laporan Tahunan ini.Complete profile can be found in the Board of Commissioners’ Profile section in this Annual Report.

AnggotaMember

Liu Raymond

Warga Negara Indonesia, 62 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Audit sejak 2018 berdasarkan Surat Keputusan Dewan Komisaris tanggal 18 Juli 2018. Meraih gelar Bachelor of Science in Chemical Engineering dari National Taiwan University, Taipei, Taiwan, pada 1982; gelar Master of Engineering in Chemical Engineering dari West Virginia Institute of Technology, USA, pada 1987; serta gelar Doctor of Philosophy in Chemical Engineering dari North Carolina State University, Raleigh, NC, USA, pada 1992.

Sebelumnya pernah menjabat sebagai Senior Research Scientist International Paper (1992-1996), R&D Manager Indah Kiat Pulp & Paper (1996-1997), Purchasing Director Indah Kiat Pulp & Paper (1997-2000), Komisaris Indah Kiat Pulp & Paper (2002-2005), Komisaris Tjiwi Kimia (2002-2005), Direksi Indah Kiat Pulp & Paper (2005-2010), Direksi Tjiwi Kimia (2005-2010), Direktur Utama Asia Trade Logistics (Logictics arms of Sinarmas Pulp & Paper) (2000-2010), Direktur Utama Meadow Lake Mechanical Pulp Mill (2008-2011), Executive Vice President Paper Excellence Canada Holdings (2010-2012), President Universitas Pelita Harapan (2012-2016), dan Rektor di Universitas Pelita Harapan Medan (2014-2018).

Selain menjabat sebagai Anggota Komite Audit Perseroan, beliau juga menjabat sebagai Chief Executive Officer Agro Investama Group (2012-sekarang).

Indonesian Citizen, 62 years old, domiciled in Tangerang. Serves as a member of the Audit Committee since 2018 based on a Board of Commissioners Decree dated July 18th, 2018. Obtained his Bachelor of Science in Chemical Engineering degree from National Taiwan University, Taipei, Taiwan, in 1982; Master of Engineering in Chemical Engineering degree from West Virginia Institute of Technology, USA, in 1987; as well as Doctor of Philosophy in Chemical Engineering from North Carolina State University, Raleigh, NC, USA in 1992.

Previously served as Senior Research Scientist of International Paper (1992-1996), R&D Manager of Indah Kiat Pulp & Paper (1996-1997), Purchasing Director of Indah Kiat Pulp & Paper (1997-2000), Commissioner of Indah Kiat Pulp & Paper (2002-2005), Commissioner of Tjiwi Kimia (2002-2005), Director of Indah Kiat Pulp & Paper (2005-2010), Director of Tjiwi Kimia (2005-2010), President Director of Asia Trade Logistics (Logictics arms of Sinarmas Pulp & Paper) (2000-2010), President Director of Meadow Lake Mechanical Pulp Mill (2008-2011), Executive Vice President of Paper Excellence Canada Holdings (2010-2012), President of Universitas Pelita Harapan (2012-2016), and Rector of Universitas Pelita Harapan Medan (2014-2018).

In addition to serving as a member of the Audit Committee, he also serves as the Chief Executive Officer of Agro Investama Group (2012-present).

Profil Komite Audit Audit Committee’s Profile



54

AnggotaMember

Karnadi Nawawi

Warga Negara Indonesia, 59 tahun, berdomisili di Jakarta. Menjabat sebagai Anggota Komite Audit sejak 2018 berdasarkan Surat Keputusan Dewan Komisaris tanggal 18 Juli 2018. Meraih gelar Sarjana Teknik di bidang Teknik Elektro dari Institut Sains Teknologi Nasional (ISTN), Jakarta pada 1987.

Sebelumnya pernah bekerja di PT ASABA (1988-1990), PT ASABA Computer Center (1990-1992), PT Aquanur (1993-1995), dan menjabat sebagai Direktur di PT ABA (1995-1999), dan Komisaris di PT Mandiri Tegar Adiguna (2009-2016). Saat ini juga merangkap jabatan sebagai Direktur di PT ABA Sarana Lestari (sejak 1999), dan Komisaris di PT Aquanur Powerindo (sejak 2000).

Indonesian Citizen, 59 years old, domiciled in Jakarta. Serves as a member of the Audit Committee since 2018 based on the Board of Commissioners Decree dated July 18th, 2018. Obtained his Bachelor of Engineering degree in Electronic Engineering from Institut Sains Teknologi Nasional (ISTN), Jakarta, in 1987.

Previously worked at PT ASABA (1988-1990), PT ASABA Computer Center (1990-1992), PT Aquanur (1993-1995), and served as Director of PT ABA (1995-1999), and Commissioner of PT Mandiri Tegar Adiguna (2009-2016). Concurrently serves as Director of PT ABA Sarana Lestari (since 1999), and Commissioner of PT Aquanur Powerindo (since 2000).

Warga Negara Indonesia, 60 tahun, berdomisili di Jakarta. Menjabat sebagai Ketua Komite Nominasi dan Remunerasi berdasarkan Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019. Beliau memperoleh gelar Master di bidang Administrasi Bisnis dari Washburn University, Amerika Serikat pada 1989. Beliau memiliki sertifikasi sebagai Ahli Manajemen Risiko Perasuransian (AMRP).

Beliau telah berkarier lebih dari 25 tahun di bidang finansial, antara lain di PT Bank Danamon Tbk (1989-1990), Standard Chartered Bank, Jakarta Branch (1990-1994), Deutsche Bank AG (1994-1997), Direktur Operasional PT Lippo Securities Tbk (1997-1998), Direktur PT Kustodian Sentral Efek Indonesia (1998-2002), Presiden Direktur PT Kustodian Sentral Efek Indonesia (2002-2006), Presiden Direktur Ciptadana Capital (2006-2011), Komisaris PT Solusi Tunas Pratama (2006-2011), Direktur Utama PT Ciptadana Multifinance (2006-2011), Komisaris PT Ciptadana Sekuritas (2006-2011), Komisaris PT Equator Asset Management (2011-2012), Presiden Direktur PT Equator Capital (2011-2012), dan Presiden Komisaris PT AON Indonesia (2015-2019).k (2014-Agustus 2020), Komisaris PT Multipolar Tbk (2014-Juni 20Presiden Komisaris Perseroan (2017-Agustus 2020), dan Ketua Komite Kebijakan Tata Kelola Perusahaan di Perseroan (2019-2020).Beliau juga pernah menjabat sebagai Presiden Komisaris PT Lippo Securities Tbk (2014-Agustus 2020), Komisaris PT Multipolar Tbk (2014-Juni 2020), Presiden Komisaris Perseroan (2017-Agustus 2020), dan Ketua Komite Kebijakan Tata Kelola Perusahaan di Perseroan (2019-2020).

Indonesian Citizen, 60 years old, domiciled in Jakarta. He served as the Chairman of Nomination and Remuneration Committee based on Board of Commissioners Decree dated August 16th, 2019. He obtained his Master’s degree in Business Administration from Washburn University, the United States in 1989. He was certified as a Risk Management Expert Insurance (AMRP).

He has built his career in finance for over 25 years, among others in PT Bank Danamon Tbk (1989-1990), Standard Chartered Bank, Jakarta Branch (1990-1994), Deutsche Bank AG (1994-1997), Director of Operations of PT Lippo Securities Tbk (1997-1998), Director of PT Kustodian Sentral Efek Indonesia (1998-2002), President Director of PT Kustodian Sentral Efek Indonesia (2002-2006), President Director of Ciptadana Capital (2006-2011), Commissioner PT Ciptadana Sekuritas (2006-2011), Commissioner of PT Solusi Tunas Pratama (2006-2011), President Director of PT Ciptadana Multifinance (2006-2011), Commissioner of PT Equator Asset Management (2011-2012), President Director of PT Equator Capital (2011-2012), and President Commissioner of PT AON Indonesia (2015-2019).

He was also served as the President Commissioner of PT Lippo Securities Tbk (2014-August 2020), Commissioner of PT Multipolar Tbk (2014-June 2020), President Commissioner of the Company (2017-August 2020), and the Chairman of Corporate Governance Policy Committee of the Company (2019-2020).

Profil Komite Nominasi dan Remunerasi Nomination and Remuneration Committee’s Profile

KetuaChairman

Benny Haryanto Djie*

*Mengikuti masa jabatan sebagai Presiden Komisaris yang berakhir sejak ditutupnya RUPS Tahunan yang dilaksanakan pada tanggal 7 Agustus 2020.* Following the term of office as President Commissioner which ended since the closing of the Annual GMS held on August 7th, 2020.


AnggotaMember

Frans Lamury


2019-2020 : Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019.2019-2020 : Board of Commissioners Decree dated August 16th, 2019.


AnggotaMember

Susanti Halim

KetuaChairman

Frans Lamury


2019-2020 : Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019.2019-2020 : Board of Commissioners Decree dated August 16th, 2019.


Warga Negara Indonesia, 46 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Nominasi dan Remunerasi sejak 2019 berdasarkan Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019. Alumni Universitas Gunadarma, Manajemen Informatika, lulus tahun 1996.

Mulai bekerja sebagai Application Specialist untuk Implementasi Software HRIS di PT Ardigraha Infolestari (1996-2000) dan PT Mutipolar Corporation (2000-2003), sebagai Business Consultant/Advisor untuk Implementasi Oracle HRIS di beberapa industri di bawah PT Sigma Solusi Integrasi (2003-2008) dan sebagai Department Head-Human Resources di Perseroan sejak tahun 2008.

Indonesian Citizen, 46 years old, domiciled in Tangerang. Serves as a member of the Nomination and Remuneration Committee since 2019 based on the Board of Commissioners Decree dated August 16th, 2019. Gunadarma University alumni, Information Management, graduated in 1996.

Started working as an Application Specialist for HRIS Software Implementation at PT Ardigraha Infolestari (1996-2000) and PT Mutipolar Corporation (2000-2003), as Business Consultant/Advisor for Oracle HRIS Implementation in several industries under PT Sigma Solusi Integrasi (2003-2008) and as Department Head-Human Resources of the Company since 2008.

Profil Komite Pemantau Risiko Risk Monitoring Committee’s Profile



56

AnggotaMember

Mathias Elsson

AnggotaMember

Charles Hanafie

Warga Negara Indonesia, 28 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Pemantau Risiko sejak 2019 berdasarkan Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019. Meraih gelar Sarjana Teknik di bidang Teknologi Bioproses (Departemen Teknik Kimia) dari Universitas Indonesia pada 2015.

Sebelumnya adalah bagian dari Officer Development Program Perseroan (2015-2017), kemudian menangani Risk Engineering & Treaty pada Risk Management Department Perseroan (2015-2019). Saat ini menjabat sebagai Deputy Head of Claim General Non-MV 2 Perseroan (sejak 2019).

Indonesian Citizen, 28 years old, domiciled in Tangerang. Serves as a member of the Risk Monitoring Committee since 2019 based on the Board of Commissioners Decree dated August 16th, 2019. Holds a Bachelor of Engineering in Bioprocess Technology (Department of Chemical Engineering) from the University of Indonesia in 2015.

Previously, he was part of the Officer Development Program of the Company (2015-2017), and then handled Risk Engineering & Treaty at the Risk Management Department of the Company (2015-2019). Currently serves as Deputy Head of Claim General Non-MV 2 of the Company (since 2019).

Warga Negara Indonesia, 36 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Pemantau Risiko sejak 2019 berdasarkan Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019. Meraih gelar Sarjana Teknik di bidang Teknik Industri dari Universitas Pelita Harapan pada 2007 serta gelar Magister Manajemen dari Universitas Pelita Harapan pada 2010.

Sebelumnya, pernah menjabat sebagai Senior Technical Assistant PT Lippo Cikarang Tbk (2007-2009), Assistant Finance Manager PT CSM Corporatama (Indomobil Group) (2009-2011), dan Risk Management Head Perseroan (2011-2015). Saat ini menjabat sebagai Digital Development Head Perseroan (sejak 2016).

Indonesian Citizen, 36 years old, domiciled in Tangerang. Serves as a member of the Risk Monitoring Committee since 2019 based on the Board of Commissioners Decree dated August 16th, 2019. Obtained his Bachelor of Engineering in Industrial Engineering degree from Universitas Pelita Harapan in 2007 as well as Master of Management degree from Universitas Pelita Harapan in 2010.

Previously served as Senior Technical Assistant of PT Lippo Cikarang Tbk (2007-2009), Assistant Finance Manager of PT CSM Corporatama (Indomobil Group) (2009-2011), and Risk Management Head of the Company (2011-2015). Concurrently serves as Digital Development Head of the Company (since 2016).


KetuaChairman

Benny Haryanto Djie*

AnggotaMember



2019-2020 : Surat Keputusan Dewan Komisaris tanggal 15 November 2019.2019-2020 : Board of Commissioners Decree dated November 15th, 2019.


2019-2020 : Surat Keputusan Dewan Komisaris tanggal 15 November 2019.2019-2020 : Board of Commissioners Decree dated November 15th, 2019.

Profil lengkap dapat dilihat pada bagian Profil Komite Nominasi dan Remunerasi dalam Laporan Tahunan ini.* Mengikuti masa jabatan sebagai Presiden Komisaris yang berakhir sejak ditutupnya RUPS Tahunan yang dilaksanakan pada tanggal 7 Agustus 2020. Complete profile can be found in Nomination and Remuneration Committee’s Profile section in this Annual Report.* Following the term of office as President Commissioner which ended since the closing of the Annual GMS held on August 7th, 2020.


AnggotaMember

Satini Kartika Sari

Warga Negara Indonesia, 49 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Kebijakan Tata Kelola Perusahaan sejak 2019 berdasarkan Surat Keputusan Dewan Komisaris tanggal 15 November 2019. Meraih gelar Sarjana Hukum dari Fakultas Hukum Universitas 17 Agustus 1945, Jakarta, pada 1995.

Sebelumnya, pernah menjabat sebagai Asisten Pengacara Lawfirm Ibrani SH & Partners (1995), Settlement Staff PT Lippo Bank Tbk – Security Services Division (Agustus 1996-Maret 1997), Legal & Corporate Secretary Officer PT Asuransi Lippo Life Tbk (Maret 1997-Juli 2003). Saat ini, menjabat sebagai Corporate Secretary dan Department Head Legal Perseroan (sejak Agustus 2003).

Indonesian Citizen, 49 years old, domiciled in Tangerang. Serves as a member of the Corporate Governance Policy Committee since 2019 based on the Board of Commissioners Decree dated November 15th, 2019. Obtained her Bachelor of Law degree from the Faculty of Law, Universitas 17 August 1945, Jakarta, in 1995.

Previously served as Assistant Lawyer at Lawfirm Ibrani SH & Partners (1995), Settlement Staff of PT Lippo Bank Tbk – Security Services Division (August 1996-March 1997), Legal & Corporate Secretary Officer of PT Asuransi Lippo Life Tbk (March 1997-July 2003). Concurrently, serves as Corporate Secretary and Department Head Legal of the Company (since August 2003).

Profil Komite Kebijakan Tata Kelola Perusahaan

Corporate Governance Committee’s Profile



58


2019-2020 : Surat Keputusan Direksi tanggal 20 Desember 2019.2019-2020 : Board of Directors Decree dated December 20th, 2019.

Profil lengkap dapat dilihat pada bagian Profil Direksi dalam Laporan Tahunan ini.Complete profile can be found in the Board of Directors’ Profile section in this Annual Report.

KetuaChairman

Johannes Agus

AnggotaMember

Jessy Christina Hutagalung

Warga Negara Indonesia, 47 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Investasi sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 20 Desember 2019. Meraih gelar Sarjana Jurusan Statistika di Institut Pertanian Bogor, Bogor, pada 1997.

Sebelumnya pernah menjabat sebagai Assistant of Researcher Center International Forestry Research (CIFOR) (1997-1999), serta sebagai Underwriting & Reinsurance Staff (1999-2007), Underwriting Manager (2007-2012), General Business Unit Division Head (2012-2017), dan Vice President Broker & Branch Coordinator (2017-2019) Perseroan. Saat ini, menjabat sebagai Executive Vice President Broker & Branches Coordinator Perseroan (sejak 2019).

Indonesian Citizen, 47 years old, domiciled in Tangerang. Serves as a member of the Investment Committee since 2019 based on the Board of Directors Decree dated December 20th, 2019. Obtained her Bachelor of Statistics degree from Institut Pertanian Bogor, Bogor, in 1997.

Previously served as Assistant of Researcher of Center International Forestry Research (CIFOR) (1997-1999), also as Underwriting & Reinsurance Staff (1999-2007), Underwriting Manager (2007-2012), General Business Unit Division Head (2012-2017), and Vice President Broker & Branch Coordinator (2017-2019) of the Company. Concurrently serves as Executive Vice President Broker & Branches Coordinator of the Company (since 2019).

Profil Komite Investasi Investment Committee’s Profile

Profil Komite di Bawah DireksiProfile of Committees Under the Board of Directors


AnggotaMember

Yuita Kusmawaty

Profil Komite Pengembangan Produk Product Development Committee’s Profile





Profil lengkap dapat dilihat pada bagian Profil Direksi dalam Laporan Tahunan ini.Complete profile can be found in the Board of Directors’ Profile section in this Annual Report.

Profil lengkap dapat dilihat pada bagian Profil Komite Pemantau Risiko dalam Laporan Tahunan ini.Complete profile can be found in the Risk Monitoring Committee’s Profile section in this Annual Report.

KetuaChairman

Agus Benjamin

AnggotaMember

Charles Hanafie

Warga Negara Indonesia, 36 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Investasi sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 20 Desember 2019. Meraih gelar Sarjana Ekonomi Akuntansi di Perguruan Tinggi Lepisi, Tangerang pada 2009.

Sebelumnya pernah menjabat sebagai Staff Claim Center MV PT Asuransi Central Asia (2004-2007), Internal Audit PT Alfa Retailindo Tbk (2007-2010), Control Gestion Regional Jakarta 1 PT Carrefour Indonesia (2010-2011), Senior Accounting PT Zebra Asaba Industries (2011-2014), Finance Senior Officer Perseroan (2014-2019). Saat ini, menjabat sebagai Deputy Head Accounting Perseroan (sejak 2019).

Indonesian Citizen, 36 years old, domiciled in Tangerang. Serves as a member of the Investment Committee since 2019 based on the Board of Directors Decree dated December 20th, 2019. Holds a Bachelor of Economics in Accounting from Lepisi College in 2009.

Previously, served as MV Claim Center Staff of PT Asuransi Central Asia (2004-2007), Internal Audit of PT Alfa Retailindo Tbk (2007-2010), Jakarta Regional Control Gestion 1 of PT Carrefour Indonesia (2010-2011), Senior Accounting of PT Zebra Asaba Industries (2011-2014), Finance Senior Officer of the Company (2014-2019). Concurrently, serves as Deputy Head of Accounting of the Company (since 2019).



60

AnggotaMember

Timmie Manglassa

AnggotaMember

Muharom Febriyanto

Warga Negara Indonesia, 40 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Pengembangan Produk sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 20 Desember 2019. Meraih gelar Sarjana Teknik di bidang Teknik Sistem Perkapalan (Marine Engineering) dari Institut Teknologi Sepuluh Nopember, Surabaya pada 2002.

Sebelumnya, pernah bekerja sebagai Marine Adjuster di PT Dharma Nilaitama (2002-2006). Bergabung dengan Perseroan pada 2006 dengan beberapa jabatan, antara lain Claims Analyst - Non MV (2006), Claims Analyst Coordinator - Non MV (2008), Branch Marketing Head (2009), Branch Manager (2012), Commercial Line Business Unit Head (2014), Property Business Unit Head (2017), Property Engineering Business Unit - Division Head (2019) dan saat ini menjabat sebagai Commercial Business Unit - Division Head (2020).

Indonesian Citizen, 40 years old, domiciled in Tangerang. Serves as a member of the Product Development Committee since 2019 based on the Board of Directors Decree dated December 20th, 2019. Holds a Bachelor of Engineering in Marine Engineering from the Institut Teknologi Sepuluh November, Surabaya in 2002.

Previously worked as a Marine Adjuster at PT Dharma Nilaitama (2002-2006). Joined the Company in 2006 and subsequently held several positions, including Claims Analyst - Non MV (2006), Claims Analyst Coordinator - Non MV (2008), Branch Marketing Head (2009), Branch Manager (2012), Commercial Line Business Unit Head (2014), Property Business Unit Head (2017), Property Engineering Business Unit - Division Head (2019) and concurrently serves as Commercial Business Unit - Division Head (2020).

Warga Negara Indonesia, 44 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Pengembangan Produk sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 20 Desember 2019. Meraih gelar Diploma 1 Teknik Informatika dari Bina Sarana Informatika, Bandung dan gelar Sarjana Ekonomi dari Universitas Budi Luhur, Jakarta pada 2005.

Sebelumnya, pernah menjabat sebagai Staff Underwriting Fire & Property PT Maskapai Asuransi Indonesia (1997-2002), Assistant Manager Department Motor Vehicle & Heavy Equipment PT Asuransi Wahana Tata (2002-2010), Assistant Manager Marine & Miscellaneous Perseroan (2010-2015), Marketing Head Cabang Karawaci Perseroan (2015-2016), dan Manager Broker Relationship Perseroan (2016-2017). Saat ini, menjabat sebagai Marine & Miscellaneus Head Perseroan (sejak 2018).

Indonesian Citizen, 44 years old, domiciled in Tangerang. Serves as a member of the Product Development Committee since 2019 based on the Board of Directors Decree dated December 20th, 2019. Holds a Diploma in Informatics Engineering from Bina Sarana Informatika, Bandung and a Bachelor of Economics degree from Budi Luhur University in 2005.

Previously he served as Fire & Property Underwriting Staff of PT Maskapai Asuransi Indonesia (1997-2002), Assistant Manager of the Department of Motor Vehicle and Heavy Equipment of PT Asuransi Wahana Tata (2002-2010), Assistant Manager of Marine & Miscellaneous of the Company (2010-2015), Marketing Karawaci Branch Head of the Company (2015-2016), and Manager of Relationship Broker of the Company (2016-2017). Currently, serves as Marine & Miscellaneous Head of the Company (since 2018).


AnggotaMember

Putut Haryo Pangasto

Profil Komite APU PPT

Warga Negara Indonesia, 37 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite APU PPT sejak 2020 berdasarkan Surat Keputusan Direksi tanggal 21 Maret 2020. Meraih gelar Sarjana Sistem Informasi dari Universitas Budi Luhur, Jakarta pada 2005.

Bergabung dengan Perseroan sejak 2006 dengan jabatan Technical Administrative Assistant. Saat ini, menjabat sebagai Kepala Departemen Central Processing General (sejak 2017).

Indonesian Citizen, 37 years old, domiciled in Tangerang. Serves as a member of the AML-CFT Committee since 2020 based on the Board of Directors Decree dated March 21st, 2020. Obtained Bachelor’s degree in Information System from Budi Luhur University, Jakarta in 2005.

Joined the Company since 2006 as Technical Administrative Assistant. Currently, he serves as the Head of the Central Processing General Department (since 2017).

AnggotaMember

Maria Natalia Ladyawati

Warga Negara Indonesia, 49 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite APU PPT sejak 2020 berdasarkan Surat Keputusan Direksi tanggal 21 Maret 2020.

Bergabung dengan Perseroan sejak 2003 dan saat ini menjabat sebagai Kepala Departemen Health Central Processing (sejak 2009).

Indonesian Citizen, 49 years old, domiciled in Tangerang. Serves as a member of the AML-CFT Committee since 2020 based on the Board of Directors Decree dated March 21st, 2020.

Joined the Company since 2003 and currently serves as the Head of the Health Central Processing Department (since 2009).


2020 : Surat Keputusan Direksi tanggal 21 Maret 2020.2020 : Board of Directors Decree dated March 21st, 2020.

KetuaChairman

Satini Kartika Sari

Profil lengkap dapat dilihat pada uraian Komite Kebijakan Tata Kelola Perusahaan dalam Laporan Tahunan ini.A complete profile can be found in the description of the Corporate Governance Policy Committee in this Annual Report.

AML-CFT Committee’s Profile



62

Profil Komite Anti Fraud





Profil lengkap dapat dilihat pada bagian Profil Kepala Unit Audit Internal dalam Laporan Tahunan ini.A complete profile can be found in the Head of the Internal Audit Unit section in this Annual Report.

Profil lengkap dapat dilihat pada bagian Profil Komite Nominasi dan Remunerasi Internal dalam Laporan Tahunan ini.A complete profile can be found in the Internal Nomination and Remuneration Committee Profile section in this Annual Report.

KetuaChairman

Samuel Hidayat

AnggotaMember

Susanti Halim

AnggotaMember

Lamtiar M.G. Tambunan

Warga Negara Indonesia, 40 tahun, berdomisili di Tangerang. Menjabat sebagai Anggota Komite Anti Fraud sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 4 Desember 2018. Meraih gelar Sarjana Matematika dari Universitas Sriwijaya, Palembang.

Sebelumnya, pernah menjabat sebagai Wali Kelas St. Nicholas School (2005), Staf RCR (Claim) PT Artarindo (2005-2006), Staf Underwriting Perseroan (2007-2011), Kepala Departemen Actuary & Health UW Perseroan (2011-2015), dan Kepala Klaim Perseroan (2015-2021). Saat ini, kembali menjabat sebagai Kepala Departemen Actuary & Health UW.

Indonesian Citizen, 40 years old, domiciled in Tangerang. Serves as a member of the Anti-Fraud Committee since 2019 based on the Board of Directors Decree dated December 4th, 2018. Obtained a Bachelor’s degree in Mathematics from Sriwijaya University, Palembang.

Previously, she served as the homeroom teacher of St. Nicholas School (2005), RCR (Claim) Staff of PT Artarindo’s (2005-2006), Underwriting Staff of the Company (2007-2011), Head of UW Actuary & Health Department of the Company (2011-2015), and Head of Claims of the Company (2015-2021). Currently, she is back as Head of the UW Actuary & Health Department.

Anti-Fraud Committee’s Profile



2019-2020 : Surat Keputusan Direksi tanggal 3 Mei 2019.2019-2020 : Board of Directors Decree dated May 3rd, 2019.


2019-2020 : Surat Keputusan Direksi tanggal 3 Mei 2019.2019-2020: Board of Directors Decree dated May 3rd, 2019.

Profil lengkap dapat dilihat pada bagian Profil Direksi dalam Laporan Tahunan ini.A complete profile can be found in the Board of Directors Profile in this Annual Report.

Profil lengkap dapat dilihat pada bagian Profil Komite Kebijakan Tata Kelola Perusahaan dalam Laporan Tahunan ini.A complete profile can be found in the Corporate Governance Policy Committee’s Profile in this Annual Report.

KetuaChairman


AnggotaMember

Satini Kartika Sari

Profil Komite Penanganan Pengaduan Konsumen

Consumer Complaint Handling Committee’s Profile

AnggotaMember

Qamaruzzaman El Muzakkir Ikhwan

Warga Negara Indonesia, 51 tahun, berdomisili di Bogor. Menjabat sebagai Anggota Komite Penanganan Pengaduan Konsumen sejak 2019 berdasarkan Surat Keputusan Direksi tanggal 3 Mei 2019. Meraih gelar Sarjana dari Institut Pertanian Bogor, Bogor, pada 1994. Beliau telah memiliki sertifikasi sebagai Ajun Ahli Asuransi Indonesia Sektor Keuangan (AAAIK) dari Asosiasi Ahli Manajemen Asuransi Indonesia (AAMAI) pada 2009.

Sebelumnya, pernah menjabat sebagai Marketing Staff, SEO Bancassurance, and Claim Head Business Development Head Aug di PT Asuransi Balicitra (Bank Bali Group) (1996-2004), Claim Head Jakarta Branch – Claim General Departement Head – Central Processing Head – AVP Central Processing and Claim di Perseroan (2004-2017), Direktur di PT Lippo Life Assurance (2017-Mei 2019). Saat ini, menjabat sebagai Senior Vice President Customer Care/Customer Experience (sejak Mei 2019).

Indonesian Citizen, 51 years old, domiciled in Bogor. Serves as a member of the Consumer Complaint Handling Committee since 2019 based on the Board of Directors Decree dated May 3rd, 2019. Obtained Bachelor degree from Bogor Agricultural University, Bogor, in 1994. He was certified as Ajun of Indonesian Insurance Expert in Finance Sector (AAAIK) from the Association of Indonesian Insurance Management Experts (AAMAI) in 2009.

Previously, he served as a Marketing Staff, SEO Bancassurance, and Claim Head Business Development Head Aug at PT Asuransi Balicitra (Bank Bali Group) (1996-2004), Claim Head at Jakarta Branch - Claim General Department Head - Central Processing Head - AVP Central Processing and Claim in the Company (2004-2017), a Director of PT Lippo Life Assurance (2017-May 2019). Currently, he serves as the Senior Vice President Customer Care/Customer Experience (since May 2019).



64

Profil Sekretaris PerusahaanCorporate Secretary’s Profile


Sejak 2003 berdasarkan Surat Penunjukkan No. 049/HRD/LGI/VII/2003 tanggal 31 Juli 2003.Since 2003 based on the Letter of Appointment No. 049/HRD/LGI/VII/2003 dated July 31st, 2003.

Profil lengkap dapat dilihat pada uraian Komite Kebijakan Tata Kelola Perusahaan dalam Laporan Tahunan ini.A complete profile can be found in the Corporate Governance Policy Committee’s Profile section of this Annual Report.

Sekretaris PerusahaanCorporate Secretary

Satini Kartika Sari

Profil Kepala Unit Audit InternalHead of Internal Audit Unit’s Profile

Kepala Unit Audit InternalHead of Internal Audit Unit

Samuel Hidayat

Warga Negara Indonesia, 41 tahun, berdomisili di Tangerang. Menjabat sebagai Kepala Unit Audit Internal Sejak 2017 berdasarkan Surat Keputusan Pengangkatan No. 212/LI-HR/I/2017. Meraih gelar Sarjana Teknik Mesin dari Universitas Tarumanagara pada 2002 dan Master of Business Administration dari University of Western Australia pada 2005.

Sebelumnya, pernah menjabat sebagai Management Development Program (2005-2006), Deputy Head Claim MBU (2006-2008), dan Section Head U/W MBU di PT Asuransi Sinarmas (2008-2011); serta Customer Care Head (2011-2013), Technical Admin Head (2013-2014), Operation Head - Jakarta (2014-2015), dan Kepala Departemen General CP (2015-2017) Perseroan. Saat ini juga menjabat sebagai Kepala Departemen Quality Assurance (sejak 2017).

Indonesian Citizen, 41 years old, domiciled in Tangerang. Serves as the Head of Internal Audit Unit since 2017 based on a Appointment Decree Letter No. 212/LI-HR/I/2017. Obtained his Bachelor of Mechanical Engineering from Tarumanagara University in 2002 and Master of Business Administration degree from University of Western Australia in 2005.

Previously served as Management Development Program (2005-2006), Claim MBU Deputy Head (2006-2008), and U/W MBU Section Head at PT Asuransi Sinarmas (2008-2011); as well as Customer Care Head (2011-2013), Technical Admin Head (2013-2014), Operation Head - Jakarta (2014-2015), and General CP Department Head (2015-2017) at the Company. Concurrently also serves as Quality Assurance Department Head at the Company (since 2017).


Personel KunciKey Personnel

Nama / Name Jabatan / Position

Jessy Christina Hutagalung Executive Vice President - Brokers and Branch Coordinator

Qamaruzzaman El Muzakkir Ikhwan Senior Vice President - Customer Experience

Evan P. Hutagalung Vice President - Financial Institution

Hamzah Madhya Vice President - IT

dr. Rudy Tjahjadi Vice President - Corporate Relation

Timmie Manglassa Vice President - Business Unit

Viyanty Salim Vice President - Finance and Accounting

Setiyo Andi Murpiyanto Vice President - Claim

Harry Poerwanto Asisstant Vice President - East Area

Irsan Rivani Assistant Vice President - Jabodetabek Area

Erik Aribowo Assistant Vice President - Brokers

Wisnu Erlangga Assistant Vice President - Account Development

Hamzah MadhyaJessy Christina Hutagalung Qamaruzzaman El Muzakkir Ikhwan Evan P. Hutagalung

dr. Rudy Tjahjadi Timmie Manglassa Viyanty Salim

Erik Aribowo Wisnu ErlanggaHarry Poerwanto Irsan Rivani

Setiyo Andi Murpiyanto

VICE PRESIDENT



66


Dedi Susilo Department Head - Contact Center

Putut Haryo Pangasto Department Head - General Central Processing

Oencani Damanik Department Head - Claim General Motor Vehicle

Shandy Maulana Department Head - Claim General Non-Motor Vehicle 1

Mathias Elsson Department Head - Claim General Non-Motor Vehicle 2

dr. Ribka Anggraini Aprilia Department Head - Provider Relation

Maria Natalia Ladyawati Department Head - Health Central Processing

dr. Robertus Ariadi Ridwan Department Head - Case Monitoring

Lamtiar M.G. Tambunan Department Head - Actuary and Health Underwriting

dr. Doddy Eka Pratama Department Head - Claim Health

Pondi Pratama Deputy Department Head - Risk Management

Rina Megasari Deputy Department Head - Document Management System

Oencani Damanik

Pondi Pratama

Shandy MaulanaDedi Susilo

Mathias Elsson dr. Ribka Anggraini Aprilia Maria Natalia Ladyawati dr. Robertus Ariadi Ridwan


Rina MegasariLamtiar M.G. Tambunan dr.Doddy Eka Pratama

OPERATION


INFORMATION TECHNOLOGY

COMPLIANCE


Chaniago Department Head – Information Security Management System

Yohanes Hari Purnomo Department Head - Digital Innovation and Solution

Indra Dharmajaya Deputy Department Head – Infrastructure


Satini Kartika Sari Corporate Secretary

Luhur Prihatiningrum Experience Ambassador

Samuel Hidayat Department Head - Internal Audit and Quality Assurance

Susanti Halim Department Head - Talent Management and Compensation Benefit

Anastasia Deputy Department Head - Talent Management

Ivo Santri Lubis Deputy Department Head - Legal

Christine Prety Ballerena Deputy Department Head - Quality Assurance (Compliance)

Satini Kartika Sari Luhur Prihatiningrum Samuel Hidayat Susanti Halim

Anastasia Christine Prety BallerenaIvo Santri Lubis

Chaniago

Indra Dharmajaya

Yohanes Hari Purnomo



68


Maureen Indriaty Department Head - Agency

Afrilina Arifin Department Head - Account Development 1

Denny Kusuma Wardhana Department Head - Account Development 2

Emma Paulina Balubun Department Head - Corporate Relation 2

Wineke Winawati Department Head - Marketing Communication

Charles Hanafie Department Head - Digital Development

Leviano Winoto Department Head - Financial Institution

Muharom Febriyanto Department Head - Marine and Miscellaneous

Heppy Suryadharma Department Head - Property and Engineering Business Unit

COMMERCIAL

Maureen Indriaty Afrilina Arifin

Muharom Febriyanto

Denny Kusuma Wardhana

Wineke Winawati Charles Hanafie

Heppy Suryadharma

Emma Paulina Balubun

Leviano Winoto

FINANCE AND ADMINISTRATION Nama / Name Jabatan / Position

Yekti Setyaningsih Department Head - General Finance

M. Primastuti Dyah Shintawati Department Head - Health Finance

Resty Oktriani Deputy Department Head - Branches Collection and Administration

Yuita Kusmawaty Deputy Department Head - Accounting

Imelda Dewijanti Deputy Department Head - General Services

Yekti Setyaningsih Resty OktrianiM Primastuti Dyah Shintawati

Imelda DewijantiYuita Kusmawaty


BRANCH

Dian Puspitasari Yommy Chandra Yosef Sanjaya, S.IP Dedy Cahyana

Iwan Surya Ady Putra Pratama

Nur Intan Amalia

Janto Rivai Rahardjo Serafin Estuningtyas Hesti

Argyantoro Yudha P

Raihan Prasetyo

Jessy TaniaSefira Gendis Kusandaru Musyiamik YuniarsihGalih Pratama


Dian Puspitasari Area Manager - Bandung, Solo, Semarang Area

Yommy Chandra Area Manager - Sumatera Area

Yosef Sanjaya, S.IP Branch Manager - Bandung Branch

Dedy Cahyana Branch Manager - Jakarta Branch

Nur Intan Amalia Branch Manager - Cikarang Branch

Iwan Surya Representative Office Manager - Jakarta Kota Representative Office

Ady Putra Pratama Representative Office Head - Makassar Representative Office

Raihan Prasetyo Representative Office Head - Jakarta Gatsu Representative Office

Janto Rivai Rahardjo Marketing Head - Bandung Branch

Serafin Estuningtyas Hesti Marketing Head - Surabaya Branch

Argyantoro Yudha P Marketing Head - Jakarta Kuningan

Sefira Gendis Kusandaru Marketing Head - Karawaci Branch

Jessy Tania Marketing Head - Medan Branch

Galih Pratama Marketing Head - East Area

Musyiamik Yuniarsih Deputy Marketing Head - Semarang Representative Office



70

Komposisi Pemegang SahamShareholders Composition

Pemegang SahamShareholder

Jumlah Saham(Lembar Saham)Number of Share

(Shares)

Nilai NominalNominal Value

(Rp)

KepemilikanOwnership

(%)

Kepemilikan Saham 5% atau Lebih dari 5% / 5% or More than 5% Share Ownership

PT Inti Anugerah Pratama 98.680.900 49.340.450.000 65,79

PT Star Pacific Tbk 29.697.500 14.848.750.000 19,80

Kepemilikan Saham Kurang dari 5% / Less than 5% Share Ownership

Masyarakat / Public 21.621.600 10.810.800.000 14,41

Total 150.000.000 75.000.000.000 100,00

Komposisi Kepemilikan Saham Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Share Ownership Composition

Pemegang SahamShareholder

JabatanPosition

LippoInsurance

Jumlah Saham (Lembar Saham)

Number of Share (Shares)


(%)

Dewan Komisaris / Board of Commissioners

Ali Chendra* Presiden KomisarisPresident Commissioner

- -

Benny Haryanto Djie** - -

Frans Lamury Komisaris IndependenIndependent Commissioner - -

Jamilah Mawira Sungkar Komisaris IndependenIndependent Commissioner - -

Direksi / Board of Directors

Agus Benjamin Presiden Direktur President Director - -

Gilbert Deddy Naibaho Direktur / Director - -

Johannes Agus Direktur / Director - -


** Masa jabatan sebagai Presiden Komisaris berakhir sejak ditutupnya RUPS Tahunan 2020 yang dilaksanakan pada tanggal 7 Agustus 2020.* Appointed pursuant to the Resolution of the General Meeting of Shareholders on August 7th, 2020 and has served effectively in accordance with the Decree of the Financial

Services Authority’s Fit and Proper Test No. KEP-46/NB.11/2021 as of January 29th, 2021.** The term of office as President Commissioner end since the closing of the 2020 Annual GMS held on August 7th, 2020.


Komposisi Pemegang Saham Berdasarkan KelompokShareholders Composition Based on Group

Pemegang SahamShareholders

2020 2019

Jumlah Pemegang SahamNumber of Shareholders


(%)

Jumlah Pemegang SahamNumber of Shareholders


(%)

Institusi Domestik / Domestic Institution 9 2,05 8 2,56

Institusi Asing / Foreign Institution 9 2,05 7 2,24

Perorangan Indonesia / Indonesian Individual 416 94,98 294 94,23

Perorangan Asing / Foreign Individual 4 0,92 3 0,97

Total 438 100,00 312 100,00

Pengendali PerseroanCompany’s Controller

PT Star Pacific Tbk PT Inti Anugerah Pratama Masyarakat / Public


19,80% 65,79% 14,41%

Berdasarkan Salinan Keputusan Anggota Dewan Komisioner Otoritas Jasa Keuangan, Pengendali Perseroan adalah PT Inti Anugerah Pratama dengan kepemilikan saham sebesar 65,79%.

Kronologi Pencatatan SahamShare Listing Chronology

UraianDescription

Jumlah Saham yang Ditawarkan (Lembar Saham)

Number of Share Offered(Shares)

Harga Penawaran

Offering Price(Rp)

Nilai Nominal Par Value

(Rp)

Jumlah Saham Beredar (Lembar Saham)

Number of Outstanding Share

(Shares)

Bursa Pencatatan

Stock Exchange

Saham PendiriFounder Shares 99.000.000 - 500 99.000.000 -

22 Juli 1997 Penawaran Umum Saham Perdana PerseroanJuly 22nd, 1997Initial Public Offering

51.000.000 2.225 500 150.000.000.000

Bursa Efek Indonesia

Stock Exchange

Based on a Copy of the Decision of the Board of Commissioners members of the Financial Services Authority, the Company Controller is PT Inti Anugerah Pratama with share ownership of 65.79%.



72

Lembaga dan Profesi Penunjang Pasar ModalCapital Market Supporting Institutions and Professions

Biro Administrasi Efek / Securities Administration Bureau

Notaris / Notary Bursa Efek / Stock Exchange

Kantor Akuntan Publik / Public Accounting Firm

PT Sharestar Indonesia

Berita Satu Plaza Lt. 7 Jl. Jend. Gatot Subroto Kav. 35-36Jakarta, 12950

Biro Administrasi EfekSecurities Administration Bureau

Rp36.107.000,-

2020

Stephanie Wilamarta, SH

Plaza Kelapa Gading, Blok G No. 50Jl. Boulevard Barat RayaJakarta, 14240

Pembuatan akta RUPS Tahunan dan akta-akta lainPreparation of Deed of Annual GMS and other deeds

Rp19.506.250,-

2020

Bursa Efek Indonesia

Gedung Bursa Efek Indonesia TowerJl. Jend. Sudirman Kav. 52-53Jakarta Selatan, 12190

Pencatatan sahamStock listing

Rp275.000.000,- (sudah termasuk PPN / including VAT)

2020

PKF Indonesia - Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan

UOB Plaza, Lt.30 Jl. MH Thamrin Lot 8-10 Jakarta Pusat, 10130

Audit laporan keuangan konsolidasian PerseroanAudit of the Company consolidated financial statements

Rp330.000.000,- (belum termasuk PPN / not including VAT)

2020

The Company does not have any associated and joint venture companies, however has 1 direct Subsidiary described as follows.

Daftar Entitas Anak, Perusahaan Asosiasi, dan Perusahaan VenturaList of Subsidiaries, Associated Companies, and Joint Ventures

Perseroan tidak memiliki perusahaan asosiasi dan perusahaan ventura, namun memiliki 1 Entitas Anak langsung yang dijelaskan sebagai berikut.

PT Lippo Life Assurance

Bidang Usaha / Line of Business Asuransi Jiwa / Life Insurance

Persentase Kepemilikan / Ownership Percentahe 99,999999%

Status Operasional / Operational Status Beroperasi / In Operation

Total Aset / Total Assets Rp184,95 miliar / Rp184.95 billion

Alamat / Address

Berita Satu Plaza Lt. 2 Jl. Jend. Gatot Subroto Kav. 35-36Jakarta Selatan, 12950T : (021) 522 4460


Akses Informasi dan Data PerusahaanAccess of Information and Company’s Data

Informasi mengenai Perseroan dapat diakses oleh seluruh pemangku kepentingan, melalui:

Information about the Company can be accessed by all stakeholders, through:

Sekretaris Perusahaan Corporate SecretaryGedung Lippo Kuningan Lt. 27 Unit A & FJl. H.R. Rasuna Said Kav. B-12Jakarta, 12940 T : (021) 525 6161F : (021) 525 7161E : [email protected] : www.lippoinsurance.com



74

Wilayah OperasionalOperational Area

MEDAN PEKANBARU

PALEMBANG

JAKARTA GATSUJAKARTA KOTAKARAWACICIKARANG

BANDUNGSEMARANG

SOLO

SURABAYA

BALIKPAPAN

BALI


MAKASSAR



76

Alamat Kantor dan LayananOffice Address and Service

Alamat KantorOffice Address

Kantor PusatHead Office

Kantor OperasionalOperational Office

Gedung Lippo Kuningan Lt. 27 Unit A & F Jl. HR Rasuna Said Kav. B-12 Jakarta, 12940T : (021) 525 6161 F : (021) 526 7161 W : www.lippoinsurance.com

Karawaci Office Park Blok I No. 30-35 Lippo VillageTangerang, 15139T : (021) 5579 0672 F : (021) 5579 0682 E : [email protected]

Kantor Cabang dan Kantor PemasaranBranch Offices and Marketing Offices

KarawaciKarawaci Office Park Blok A No. 29 Lippo VillageTangerang, 15139T : (021) 5579 3886 F : (021) 5579 3876 E : [email protected]

BaliLippo Plaza Sunset Lt. 2 No. UG-17 Jl. Sunset Road No. 818 Kuta, Bali, 80361T : (0361) 769 392 F : (0361) 768 635 E : [email protected]

SurabayaJl. Panglima Sudirman No. 95 Surabaya, 60271T : (031) 535 1619 F : (031) 535 1639 E : [email protected]

MedanGrand Palladium Mall Lt. Ground Unit GE-1 No. 9-10 Jl. Kapten Maulana Lubis No. 8 Medan, 20112T : (061) 456 2407 F : (061) 451 3631 E : [email protected]

SoloRuko Manahan Blok A Jl. Adi Sucipto No. 8 Solo, 57139 T : (0271) 736 486 F : (0271) 740 543 E : [email protected]

BandungJl. Sunda No. 27 C Bandung, 40122T : (022) 426 5021 F : (022) 426 5022 E : [email protected]

PalembangKomplek Palembang Square Kanto R-121Jl. Pom IX Palembang, 30137T : (0711) 321 444 F : (0711) 320 969 E : [email protected]

SemarangRuko Siliwangi Square Jl. Jend. Sudirman No. 322 Kav. 7 Semarang, 50134T : (024) 7626 744 F : (024) 7626 745 E : [email protected]

PekanbaruGedung Surya Dumai Group Lt. 3 Jl. Jend. Sudirman No. 395 Pekanbaru, 28116T : (0761) 39246 E : [email protected]

CikarangRuko Robsons Square Jl. MH Thamrin Blok C-18 Lippo CikarangBekasi, 17550T : (021) 897 4371, 897 2381 F : (021) 897 2382 E : [email protected]


Kantor Cabang dan Kantor PemasaranBranch Offices and Marketing Offices

Jakarta KotaGajah Mada Tower Lt. 19 Suite 1909 Jl. Gajah Mada No. 19-26 Jakarta Pusat, 10130T : (021) 6382 9125 F : (021) 6385 9123 E : [email protected]

Jakarta Gatot SubrotoBerita Satu Plaza Lt.2/BJl. Jend. Gatot Soebroto Kav. 35-36Jakarta, 12950T : (021) 521 2044E : [email protected]

MakassarRuko GTC Makassar Blok GA 8/31Jl. Metro Tanjung Bunga Makassar, 90134T : (0411) 8111 3996E : [email protected]

BalikpapanGedung BRI Lt. 7 Suite 708 B Jl. Jend. Sudirman No. 40 RT 26 Balikpapan, 76112T : (0542) 736 751 F : (0542) 736 791 E : [email protected]

24-Hour Contact Center

T : (021) 1 500 563E : [email protected]

LayananServicePerseroan menyediakan 2 layanan utama, yaitu LippoInsurance Service Center dan LippoInsurance Personal Medical Assistant.

1. LippoInsurance Service Center Merupakan layanan yang diberikan kepada nasabah

pengguna asuransi kendaraan bermotor melalui kerja sama dengan bengkel di beberapa wilayah di Indonesia untuk memberikan pelayanan dan fasilitas terbaik bagi nasabah. Berikut daftar alamat bengkel rekanan Perseroan.

Motoreko Mobilindo Ekauto Ciputat Primatama Jelambar Jaya

Jl. Raya Serpong KM 7 No. 32 Tangerang, 15320T : 0888 0999 6105

Jl. Ki Hajar Dewantara No. 12 Tangerang Selatan, 15411T : 0888 0999 6107

Jl. Kebon Jeruk Baru No. 1 Jakarta Barat, 11530T : 0888 0999 6101

Jl. Jelambar Baru No. 9 Jakarta Barat, 11460T : 0888 0999 6102

Setia Mandiri Motor Ekauto Karawaci Mitra Jaya Service Glows Body Repair

Jl. Danau Sunter Barat A1 No. 5 Jakarta Utara, 14350T : 0888 0999 6103

Jl. Raya Binong No. 09 RT 02/02 Tangerang, 15810T : 0888 0999 6106

Jl. Makmur No. 14 Medan, 20224T : (061) 7777 1200

Jl. Jend. Ahmad Yani No. 612 Bandung, 40281T : (022) 720 5206

The Company provides 2 main services, i.e. LippoInsurance Service Center and LippoInsurance Personal Medical Assistant.

1. LippoInsurance Service Center Is a service provided to customers who own motor vehicle

insurance through cooperation with workshops in several regions in Indonesia to provide the best service and facilities for customers. The list of the Company’s partner workshops addresses is as follows.



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2. LippoInsurance Personal Medical Assistant Merupakan layanan yang diberikan kepada nasabah

pengguna asuransi kesehatan melalui rumah sakit rekanan Perseroan. Informasi rumah sakit yang memiliki Personal Medical Assistant disampaikan pada tabel berikut.

PMA Bethsaida Hospital PMA RS Premier Jatinegara PMA Siloam Hospitals Dhirga Surya Medan

Jl. Boulevard Raya Gading Serpong Kav. 29 Tangerang, 15145(Lobby Utama)

Jl. Raya Jatinegara Timur No. 85-87 Jakarta Timur, 13310(Lobby Utama Gedung Rawat Inap)

Jl. Imam Bonjol No. 6, Kel. Petisah, Kec. Medan Petisah Medan, 20212(Lobby Utama)

PMA Siloam Hospitals Manado PMA RS Santo Borromeus Bandung PMA Siloam Hospitals Lippo Village

Jl. Sam Ratulangi No. 22 Boulevard Center Manado, 95111(Lobby Utama)

Jl. Ir. H Djuanda No. 100 Bandung, 40132(Lobby Gedung Carolus Lantai 1)

Jl. Siloam No. 6, Lippo Village Tangerang, 15811(Lobby Utama)

PMA Siloam Hospitals Lippo Cikarang PMA Siloam Hospitals TB Simatupang PMA Siloam Hospitals Surabaya

Jl. MH Thamrin Kav. 105, Lippo CikarangBekasi, 17530 (Ruang Asuransi)

Jl. RA Kartini No. 8, Cilandak Jakarta Selatan, 12930(Lobby Utama)

Jl. Sumatera No. 101, Ruko Siloam Surabaya, 60281(Tempat pendaftaran Poliklinik BPJS)

PMA MRCCC Siloam Hospitals Semanggi PMA Siloam Hospitals Balikpapan PMA RS Premier Bintaro

Jl. Garnisun Kav. 2-3, Karet Semanggi Jakarta Selatan, 12930(Lt. 5, Di samping Lift Utama)

Jl. MT Haryono Dalam No. 23 RT 30 Balikpapan, 76114 (Lobby Lt. 2, Klinik Priority)

Jl. MH Tamrin Blok B3 No. 1, Sektor 7 Bintaro Jaya Tangerang, 15224 (Lobby Utama)

PMA Siloam Hospitals Bogor PMA Siloam Hospitals Kelapa Dua PMA RS Jogja International Hospital (JIH)

Jl. Pajajaran No. 27 Bogor, 14140(Lobby Utama)

Jl. Kelapa Dua Raya No. 1001 Tangerang, 15810(Lobby Utama)

Jl. Ring Road Utara No.160 Yogyakarta, 55283(Lt. 4)

2. LippoInsurance Personal Medical Assistant Is a service provided to customers who own health

insurance through the Company’s partner hospitals. Information on hospitals that provided Personal Medical Assistants is presented in the following table.


In accordance with the Financial Services Authority Regulation No. 8/POJK.04/2015 regarding the Website of Issuers or Public Companies, the Company created an official website with the following address www.lippoinsurance.com which contains:

Informasi pada Situs Web PerusahaanInformation on the Company’s Website

Sesuai dengan Peraturan Otoritas Jasa Keuangan No. 8/POJK.04/2015 tentang Situs Web Emiten atau Perusahaan Publik, Perseroan telah memiliki situs resmi dengan alamat www.lippoinsurance.com yang berisi tentang:

UraianDescription

KetersediaanAvailability

KeteranganRemarks

Laporan TahunanAnnual Reports √ Terdapat pada halaman Tentang Kami > More About Us > Laporan Tahunan.

Can be found on page : About Us > More About Us > Annual Reports.

Laporan KeuanganFinancial Statements √ Terdapat pada halaman Tentang Kami > More About Us > Laporan Keuangan.

Can be found on page : About Us > More About Us > Financial Statements.

Akuntan PublikPublic Accountant √ Terdapat pada halaman Tentang Kami > More About Us > Akuntan Publik.

Can be found on page : About Us > More About Us > Public Accountant.

Entias AnakSubsidiary √ Terdapat pada halaman Tentang Kami > More About Us > Entitas Anak.

Can be found on page : About Us > More About Us > Subsidiary.

Rapat Umum Pemegang SahamGeneral Meeting of the Shareholders √

Terdapat pada halaman Tentang Kami > More About Us > Informasi bagi Pemegang Saham > Rapat Umum Pemegang Saham.Can be found on page : About Us > More About Us > Information for theShareholders > General Meeting of the Shareholders.

Perubahan Kepemilikan SahamChanges in Share Ownership √

Terdapat pada halaman Tentang Kami > More About Us > Informasi Bagi Pemegang Saham > Keterbukaan Informasi > Perubahan Kepemilikan Saham.Can be found on page : About Us > More About Us > Information for theShareholders > Information Disclosure > Changes in Share Ownership.

Informasi DividenDividend Information √

Terdapat pada halaman Tentang Kami > More About Us > Informasi bagi Pemegang Saham > Keterbukaan Informasi > Informasi Dividen.Can be found on page : About Us > More About Us > Information for theShareholders > Information Disclosure > Dividend Information.

Ikhtisar KeuanganFinancial Highlights √

Terdapat pada halaman Tentang Kami > More About Us > Informasi bagi Pemegang Saham > Keterbukaan Informasi > Ikhtisar Keuangan.Can be found on page : About Us > More About Us > Information for theShareholders > Information Disclosure > Financial Highlights.

Isi Kode EtikContent of the Code of Ethics √

Terdapat pada halaman Tentang Kami > More About Us > Tata Kelola Perusahaan yang Baik.Can be found on page : About Us > More About Us > Good Corporate Governance.

Profil Dewan Komisaris dan DireksiBoard of Commissioner and Board of Directors’ Profile

√

Terdapat pada halaman Tentang Kami > More About Us > CV Komisaris dan Direksi.Can be found on page : About Us > More About Us > Board of Commissioner and Board of Directors’ Resume.

Piagam Dewan Komisaris dan Direksi, serta Komite PendukungBoard of Commissioner and Board of Directors’ Charter

√

Terdapat pada halaman Tentang Kami > More About Us > Tata Kelola Perusahaan yang Baik.Can be found on page : About Us > More About Us > Good Corporate Governance.

Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility √

Terdapat pada halaman Tentang Kami > More About Us > Tanggung Jawab Sosial Perusahaan.Can be found on page : About Us > More About Us > Corporate Social Responsibility.

ANALISIS DAN PEMBAHASANMANAJEMENMANAGEMENT DISCUSSION AND ANALYSIS

50,86% premi bruto Perseroan berasal dari

Asuransi Kesehatan50.86% Company’s gross premiums

came from Health Insurance

Pertumbuhan premi bruto Perseroan

meningkat 16,01% dibandingkan tahun 2019

The Company’s gross premiums growth increased by 16.01%

compared to 2019

Pertumbuhan laba bersih setelah pajak Perseroan


The growth of the Company’s net profit after tax increased by 16.13%

compared to 2019

Pertumbuhan hasil underwriting Perseroan


The growth in the Company’s underwriting income increased by 38.31%

compared to 2019


04 ANALISIS DAN PEMBAHASAN MANAJEMENManagement Discussion and Analysis

82

Tinjauan Ekonomi dan IndustriEconomic and Industry Review

Perekonomian Global

Merebaknya Corona Virus Disease 2019 (Covid-19) menimbulkan dampak yang luar biasa pada perekonomian global. Penerapan kebijakan kesehatan untuk mengurangi penyebaran virus yang diterapkan di berbagai negara berdampak pada terhambatnya mobilitas masyarakat sehingga menurunkan aktivitas konsumsi, produksi, dan investasi. Akibatnya, pertumbuhan ekonomi global menjadi -3,8%, jauh di bawah pertumbuhan 2019 yang mencapai 2,8%.

Menyadari bahwa pemulihan ekonomi akibat dampak Covid-19 tidak hanya dapat diatasi dengan bertumpu pada satu kebijakan, otoritas di berbagai negara mulai menyinergikan kebijakan fiskal dan moneter. Dari sisi fiskal, pemulihan ekonomi dilakukan dengan memberikan stimulus dalam jumlah besar dan segera. Total realisasi stimulus fiskal secara global mencapai kisaran USD11,7 triliun atau sekitar 12,0% dari produk domestik bruto (PDB) global. Dari sisi moneter, bank sentral di berbagai negara menempuh kebijakan moneter akomodatif melalui penurunan suku bunga maupun injeksi likuiditas dalam jumlah besar. The Federal Reserve dan Bank of Canada (BoC) menurunkan suku bunga sebesar 150 bps, diikuti oleh Reserve Bank of New Zealand (RBNZ) dan Bank of Korea (BoK) masing-masing sebesar 75 bps. Sementara itu, Bank Indonesia serta bank sentral Meksiko, Chili, dan Filipina mengambil langkah yang serupa dengan disertai injeksi likuiditas melalui operasi moneter, mengingat aset-aset keuangan di negara-negara tersebut masih terbatas.

Perekonomian Indonesia

Ekonomi Indonesia tahun 2020 mendapat tekanan cukup kuat, sejalan dengan dampak perlambatan ekonomi global akibat Covid-19 dan kebijakan Pembatasan Sosial Berskala Besar (PSBB) untuk memitigasi penyebaran virus. Hal ini menyebabkan laju pertumbuhan ekonomi Indonesia tahun 2020 terkontraksi sebesar 2,07%. Tren penurunan juga terjadi pada nilai tukar Rupiah yang menyentuh level Rp14.525 per USD, dari Rp14.139 per USD pada 2019. Sementara itu, akibat melemahnya permintaan domestik, inflasi IHK pada Desember 2020 tercatat berada di kisaran 1,68%, merupakan realisasi inflasi terendah sejak 20 tahun terakhir.

Global Economy

The spread of the Corona Virus Disease 2019 (Covid-19) has had a tremendous impact on the global economy. A number of countries implemented health policies in order to mitigate the spread of the virus, which had the effect of obstructing public mobility, and in turn reduced consumption, production, and investment activities. As a result, the global economy was estimated to have contracted by -3.8%, whereas in 2019 had seen a growth of 2.8%.

Realizing that economic recovery from the impact of Covid-19 will not be achieved through a single policy, authorities in various countries have begun synergizing fiscal and monetary policies. From the fiscal side, economic recovery can be achieved by the provision of large-scale immediate stimulus. The total realization of fiscal stimulus globally has reached in the range of USD11.7 billion, or roughly 12.0% of global gross domestic product (GDP). From the monetary side, central banks in a number of countries have pursued accommodative monetary policies by lowering interest rates and injecting large amounts of liquidity. The Federal Reserve and Bank of Canada (BoC) have lowered their interest rates by as much as 150 bps, followed by the Reserve Bank of New Zealand (RBNZ) and the Bank of Korea (BoK) lowering rates by 75 bps. Meanwhile, Bank Indonesia and the Central Bank of Mexico, Chile, and the Philippines have taken similar steps, along with injecting liquidity through monetary operations, as increasing financial assets in these countries is still limited.

The Indonesian Economy

The Indonesian economy in 2020 faced intense pressure as a result of Covid-19, in line with the impact of the global economic slowdown and the policy of Large-Scale Social Restrictions (PSBB) designed to mitigate the spread of the virus. This resulted in the 2020 Indonesian economy contracting as much as 2.07%. This downward trend also impacted the Rupiah exchange rate, which had reached the level of Rp14,525 per USD from Rp14,139 per USD in 2019. Alongside this, due to weakening domestic demand, CPI inflation in December 2020 was recorded to be roughly 1.68%, representing the lowest realized inflation rate in 20 years.


Pemerintah, Bank Indonesia, dan otoritas terkait segera menempuh sinergi kebijakan untuk memitigasi risiko pandemi Covid-19 sebagai langkah dalam pemulihan ekonomi nasional (PEN). Pemerintah menempuh kebijakan fiskal ekspansif melalui pemberian stimulus dalam jumlah besar. Bank Indonesia menempuh bauran kebijakan akomodatif yang mencakup pemberian stimulus moneter melalui penurunan suku bunga dan pelonggaran moneter (quantitative easing) dalam jumlah besar. Kebijakan itu juga didukung dengan langkah stabilisasi nilai tukar Rupiah, pelonggaran kebijakan makroprudensial, dan digitalisasi sistem pembayaran. Selain itu, penguatan koordinasi kebijakan juga dilakukan untuk menjaga stabilitas sistem keuangan melalui program restrukturisasi bagi UMKM dan korporasi, serta inisiatif lainnya untuk menjaga fungsi intermediasi pembiayaan yang ditempuh Otoritas Jasa Keuangan. Sementara itu, Lembaga Penjamin Simpanan turut merelaksasi kebijakan untuk mengurangi tekanan likuiditas perbankan.

Sumber: • Laporan Perekonomian Indonesia 2020 oleh Bank Indonesia; dan• Berita Resmi Statistik, Pertumbuhan Ekonomi (Produk Domestik Bruto) oleh

Badan Pusat Statistik.

Kondisi Industri Asuransi

Pergerakan pasar keuangan serta kondisi perekonomian, baik global maupun nasional, berdampak pada kinerja industri asuransi. Dari sisi asuransi umum mencatatkan pertumbuhan total investasi sebesar 3,64%, dari Rp78,42 triliun menjadi Rp81,27 triliun. Kinerja tersebut disertai premi asuransi umum yang menurun 4,04%, dari Rp80,12 triliun menjadi Rp76,89 triliun. Sementara itu, klaim meningkat 3,41% menjadi Rp37,48 triliun dari semula Rp36,24 triliun. Hal ini menyebabkan hasil underwriting asuransi umum mengalami penurunan 7,18%, dari Rp15,27 triliun menjadi Rp14,18 triliun. Meskipun demikian, industri asuransi umum masih berada dalam kondisi keuangan yang sehat, sejalan dengan pencapaian risk-based capital (RBC) sebesar 330%.

Sumber: • Statistik Asuransi Desember 2019 dan 2020 oleh Otoritas Jasa Keuangan;

• AAUI: Perusahaan Asuransi Perlu Bertransformasi Digital, diakses di http://aaui.or.id/aaui-perusahaan-asuransi-perlu-bertransformasi-digital/; dan

• Kinerja Asuransi Umum dan Reasuransi Tahun 2020 oleh Asosiasi Asuransi Umum Indonesia.

The Government, Bank Indonesia and related authorities immediately instigated policy synergy to mitigate risk during the Covid-19 pandemic, as a step towards National Economic Recovery (PEN). The Government pursued an expansionary fiscal policy by providing large amounts of stimulus. The Bank of Indonesia pursued a combination of accommodative policies, including providing monetary stimulus through a large reduction of interest rates and monetary easing (also known as quantitative easing). This policy was also supported by stabilization measures placed on the Rupiah exchange rate, the easing of macro-prudential policies and by digitizing payment systems. In addition to this, policy-strengthening coordination was undertaken to maintain stability in the financial system, by restructuring programs for Micro-, Small and Medium Enterprises and corporations, along with other initiatives to maintain intermediary financing functions taken by the Financial Services Authority. Alongside this, the Indonesia Deposit Insurance Corporation also relaxed policies in order to reduce pressure on bank liquidity.

Source:• Indonesian Economic Report 2020 by Bank Indonesia; and• Official Statistics News, Economic Growth (Gross Domestic Product) by the

Statistics Indonesia.

Insurance Industry Conditions

Movement in the financial markets along with both global and national economic conditions, have had an impact on the performance of the insurance industry. General insurance recorded a total investment growth of 3.64%, from Rp78.42 trillion to Rp81.27 trillion. This performance was accompanied, however, by decrease in general insurance premiums by 4.04%, from Rp80.12 trillion to Rp76.89 trillion. Meanwhile, claims increased by 3.41% to Rp37.48 trillion from Rp36.24 trillion. This resulted in general insurance underwriting income decreased by 7.18% from Rp15.27 trillion to Rp14.18 trillion. Nevertheless, the general insurance industry remains in sound financial condition, in line with the achievement of risk-based capital (RBC) of 330%.

Source:• Insurance Statistics as of December 2019 and 2020 by the Financial Services

Authority;• AAUI: Insurance Companies Need to Dgitally Transformed, can be accessed at

http://aaui.or.id/aaui-perusaha-asuransi-perlu-bertransformasi-digital/; and• General Insurance and Reinsurance Performance in 2020 by the General

Insurance Association of Indonesia.



84

Tinjauan Operasional Operational Review

Tinjauan Operasional per Segmen Usaha

Segmen usaha diklasifikasikan atas jenis asuransi yang ditawarkan Perseroan, yaitu asuransi kebakaran, kendaraan bermotor, pengangkutan laut, kesehatan, jiwa dan kematian, serta lain-lainnya. Informasi terkait hal tersebut diungkapkan sebagai berikut.

Premi BrutoTotal premi bruto Perseroan berdasarkan segmen usaha mengalami peningkatan sebesar 16,01% atau Rp233,62 miliar. Peningkatan berasal dari asuransi umum sebesar 17,92% atau Rp119,00 miliar, asuransi kesehatan sebesar 11,56% atau Rp89,24 miliar, serta asuransi jiwa dan kematian yang dijalankan oleh Entitas Anak, yaitu PT Lippo Life Assurance, sebesar 106,46% atau Rp25,38 miliar. Kondisi ini menunjukan bahwa kinerja premi bruto Perseroan lebih baik dibandingkan kinerja premi bruto industri asuransi umum yang mengalami penurunan 4,04%, dari Rp80,12 triliun di tahun 2019 menjadi Rp76,89 triliun di tahun 2020.

Klaim BrutoPada tahun 2020, total klaim bruto Perseroan mengalami penurunan 9,46% atau Rp100,03 miliar menjadi Rp957,76 miliar dari semula Rp1,06 triliun.

Hasil UnderwritingTotal hasil underwriting yang diperoleh Perseroan selama tahun 2020 mencapai Rp279,13 miliar, meningkat 38,31% atau Rp77,31 miliar dibandingkan tahun 2019 yang tercatat sebesar Rp201,82 miliar. Hasil tersebut menunjukkan bahwa kinerja underwriting Perseroan relatif lebih baik di tengah penurunan hasil underwriting industri asuransi umum sebesar 7,18%, dari Rp15,27 triliun di tahun 2019 menjadi Rp14,18 triliun di tahun 2020.

Operational Review per Business SegmentBusiness segment is usually classified based on the types of insurance offered by the Company, i.e. fire, motor vehicles, sea transportation, health, life and death, and other insurances. Information related to this is described as follows.

Gross PremiumThe Company’s total gross premiums based on business segment increased by 16.01% or Rp233.62 billion. The increase came from general insurance at 17.92% or Rp119.00 billion, health insurance at 11.56% or Rp89.24 billion, as well as life and death insurance managed by a Subsidiary, PT Lippo Life Assurance, at 106.46% or Rp25.38 billion. This condition showed that Company’s gross premiums performance was better than the gross premiums performance in the insurance industry as a whole that decline by 4.04%, from Rp80.12 trillion in 2019 to Rp76.89 trillion in 2020.

Gross ClaimsIn 2020, the Company’s total gross claims decreased by 9.46% or Rp100.03 billion to Rp957.76 billion from Rp1.06 trillion.

Underwriting IncomeThe total underwriting income obtained by the Company in 2020 was amounted to Rp279.13 billion, an increase by 38.31% or Rp77.31 billion compared to 2019 at Rp201.82 billion. This result indicated that the Company’s underwriting income performance was still relatively better amidst a decrease in the underwriting income of the general insurance industry by 7.18%, from Rp15.27 trillion in 2019 to Rp14.18 trillion in 2020.


Aspek PemasaranMarketing Aspects

Strategi Pemasaran

Strategi pemasaran Perseroan tahun 2020 diuraikan sebagai berikut.1. Meningkatkan proposisi nilai untuk menunjang

pertumbuhan fundamental;2. Memperluas hubungan kerja sama antara Perseroan

dengan broker;3. Mengembangkan sistem keagenan;4. Meningkatkan penetrasi bisnis secara maksimal; dan5. Mengembangkan varian produk yang didistribusikan

melalui model business to business to consumer (B2B2C).

Marketing Strategies

The Company’s 2020 Marketing strategies were as follows.

1. Increasing the value proposition to support fundamental growth;

2. Expanding partnership between the Company and brokers;

3. Developing an agency system;4. Increasing a maximum business penetration; and5. Developing product variants that will be distributed

through the business to business to consumer (B2B2C) model.

Pembahasan tinjauan keuangan ini disusun berdasarkan Laporan Keuangan Konsolidasian PT Lippo General Insurance Tbk dan Entitas Anak, yang berakhir pada tanggal 31 Desember 2020 dan 31 Desember 2019, serta telah diaudit oleh Kantor Akuntan Publik Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan, dengan pendapat wajar sesuai dengan Standar Akuntansi Keuangan (SAK) di Indonesia.

Laporan Posisi Keuangan Konsolidasian

Aset / Assets(dalam miliar Rupiah / in billion Rupiah)

UraianDescription 2020 2019*

PertumbuhanGrowth

Rp %

Kas dan BankCash and Bank 24,10 17,52 6,59 37,62

Piutang PremiPremium Receivables 448,92 333,26 115,66 34,71

Piutang ReasuransiReinsurance Receivables 30,80 35,79 (4,99) (13,94)

Piutang Lain-Lain - BersihOther Receivables - Net 24,60 15,09 9,51 63,02

This financial review discussion is prepared based on the Consolidated Financial Statements of PT Lippo General Insurance Tbk and Subsidiaries, ended on December 31st, 2020 and December 31st, 2019, that had been audited Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners by Public Accounting Firm, with unqualified opinion in accordance with the Financial Accounting Standards (SAK) in Indonesia.

Consolidated Statements of Financial Position

Tinjauan KeuanganFinancial Review



86

The Company’s assets in 2020 was amounted to Rp2.82 trillion. This number increased by 16.07% or Rp389.74 billion compared to 2019 at Rp2.43 trillion.

Current AssetsIn 2020, current assets increased by 16.62% or Rp389.65 billion to Rp2.73 trillion from Rp2.34 trillion in 2019. This was mainly due to the increase in the amount of total investments and premium receivables, amounted to Rp153.85 billion and Rp115.66 billion respectively.

Non-Current AssetsThe Company’s non-current assets increased by 0.11% or Rp89.89 million, from Rp81.14 billion in 2019 to Rp81.23 billion in 2020.

(dalam miliar Rupiah / in billion Rupiah)


PertumbuhanGrowth

Rp %

Jumlah InvestasiTotal Investments 1.339,25 1.185,40 153,85 12,98

Biaya Dibayar di Muka dan Uang MukaPrepaid Expenses and Advances 3,10 15,43 (12,33) (79,91)

Aset ReasuransiReinsurance Assets 863,57 742,23 121,34 16,35

Jumlah Aset LancarTotal Current Assets 2.734,35 2.344,70 389,65 16,62

Aset Hak Guna - BersihRight of Use Assets – Net 3,52 - 3,52 100,00

Aset TetapFixed Assets 61,21 59,93 1,28 2,14

Aset Tak BerwujudIntangible Assets 6,06 7,09 (1,03) (14,52)

Aset Imbalan Pasti NetoNet Defined Benefit Asset 3,88 - 3,88 100,00

Aset Pajak TangguhanDeferred Tax Assets 4,76 12,27 (7,50) (61,17)

Aset Lain-LainOther Assets 1,79 1,85 (0,06) (3,02)

Jumlah Aset Tidak LancarTotal Non-Current Assets 81,23 81,14 0,09 0,11

Total AsetTotal Assets 2.815,58 2.425,84 389,74 16,07

*Direklasifikasi./Reclassified.

Aset yang dimiliki Perseroan tahun 2020 mencapai Rp2,82 triliun. Jumlah tersebut meningkat 16,07% atau Rp389,74 miliar dibandingkan tahun 2019 yang tercatat sebesar Rp2,43 triliun.

Aset LancarPada tahun 2020, aset lancar mengalami peningkatan sebesar 16,62% atau Rp389,65 miliar menjadi Rp2,73 triliun dari semula Rp2,34 triliun di tahun 2019. Kondisi ini terutama dipengaruhi oleh meningkatnya jumlah investasi dan piutang premi, masing-masing sebesar Rp153,85 miliar dan Rp115,66 miliar.

Aset Tidak LancarAset tidak lancar yang dimiliki Perseroan meningkat 0,11% atau Rp89,89 juta, dari Rp81,14 miliar di tahun 2019 menjadi Rp81,23 miliar di tahun 2020.


Liabilitas / Liabilities(dalam miliar Rupiah / in billion Rupiah)


PertumbuhanGrowth

Rp %

Utang KlaimClaim Payables 17,11 11,07 6,04 54,54

Utang ReasuransiReinsurance Payables 160,93 108,76 52,17 32,42

Utang KomisiCommission Payables 4,44 5,84 (1,40) (24,00)

Utang PajakTax Payables 9,75 8,47 1,28 15,12

Uang Muka Premi Jangka PanjangDeferred Premium Income 2,88 3,19 (0,31) (9,62)

Liabilitas Kontrak AsuransiInsurance Contract Liabilities 1.572,91 1.368,66 204,25 14,92

Liabilitas SewaLease Liabilities 3,22 - 3,22 100,00

Liabilitas Imbalan Kerja Employee Benefit Liabilities

Liabilitas Imbalan Kerja Jangka Pendek Short Term Employee Benefit Liabilities 17,49 10,00 7,49 74,85

Liabilitas Imbalan Pasca Kerja Post Employment Benefit Liabilities 1,64 9,97 (8,32) (83,52)

Utang Lain-LainOther Payables 164,13 51,38 112,75 219,43

Total Liabilitas Total Liabilities 1.954,50 1.577,33 377,17 23,91

*Direklasifikasi./* Reclassified.

Liabilitas Perseroan tahun 2020 mencapai Rp1,95 triliun meningkat 23,91% atau Rp377,17 miliar dibandingkan tahun 2019 yang tercatat sebesar Rp1,58 triliun. Hal tersebut terutama disebabkan meningkatnya liabilitas kontrak asuransi dan utang lain-lain masing-masing sebesar Rp204,25 miliar dan Rp112,75 miliar.

Ekuitas / Equity


PertumbuhanGrowth

Rp %

Modal Saham-Nilai Nominal Rp500 per SahamShare Capital-Par Value of Rp500 per Share

Modal Dasar-350.000.000 SahamAuthorized Capital-350,000,000 Shares

Modal Ditempatkan dan Disetor penuh-150.000.000 SahamIssued and Fully Paid Capital-150,000,000 Shares 75,00 75,00 - -

Tambahan Modal DisetorAdditional Paid in Capital 102,72 102,72 - -

The Company’s liabilities in 2020 was amounted to Rp1.95 trillion, an increase by 23.91% or Rp377.17 billion compared to 2019 at Rp1.58 trillion. This was mainly due to the increase in insurance contract liabilities and other payables by Rp204.25 billion and Rp112.75 billion respectively.




88


PertumbuhanGrowth

Rp %

Cadangan Perubahan Nilai Wajar Aset Keuangan Tersedia untuk Dijual-Setelah PajakReserves for Changes of Fair Value of Available-for-Sale Financial Assets – Net Tax

(53,76) (3,81) 49,94 1.309,49

Saldo LabaRetained Earnings

Cadangan UmumGeneral Reserves 19,00 18,00 1,00 5,56

Belum Ditentukan PenggunaannyaUnappropriated 718,11 656,60 61,51 9,37

Total Ekuitas Total Equity 861,08 848,51 12,57 1,48

*Direklasifikasi./*Reclassified.

Pada tahun 2020, ekuitas Perseroan mencapai Rp861,08 miliar, mengalami peningkatan 1,48% atau Rp12,57 miliar dibandingkan tahun sebelumnya sebesar Rp848,51 miliar.

Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian


PertumbuhanGrowth

Rp %

Pendapatan Revenues 1.220,14 1.167,49 52,65 4,51

Premi Bruto Gross Premiums 1.693,22 1.459,60 233,62 16,01

Premi Reasuransi Reinsurance Premiums (471,79) (383,03) 88,76 23,17

Perubahan Bersih Liabilitas Premi Net Change in Premium Liabilities (40,27) 14,86 (55,13) (371,01)

Hasil Investasi Investment Income 39,66 83,08 (43,42) (52,26)

Beban Lain-lain - Bersih Other Expenses - Net (0,68) (7,01) (6,34) (90,38)

BebanExpenses 1.108,23 1.079,72 28,51 2,64

Klaim - Bruto Gross Claims 957,76 1.057,79 (100,03) (9,46)

Klaim Reasuransi Reinsurance Claims (281,74) (241,66) 40,09 16,59

Perubahan Bersih Estimasi Liabilitas Klaim Net Change in Estimated Claims Liabilities 42,64 (7,93) 50,57 637,44

Beban Komisi - Bersih Commission Expenses – Net 64,89 76,08 (11,19) (14,71)

Beban Underwriting Lainnya Other Undewriting Expenses 118,48 5,33 113,16 2.124,57

Beban Usaha Operating Expenses 206,20 190,11 16,09 8,47


In 2020, the Company’s equity was amounted to Rp861.08 billion, an increase by 1.48% or Rp12.57 billion compared to the previous year of Rp848.51 billion.

Consolidated Statements of Profit or Loss and Other Comprehensive Income



PertumbuhanGrowth

Rp %

Laba Sebelum Pajak PenghasilanIncome Before Tax 111,91 87,77 24,14 27,50

Beban PajakTax Expense (19,01) (7,77) 11,23 144,56

Laba Tahun Berjalan yang Dapat Diatribusikan kepada:Net Income attributable to:

Pemilik Entitas Induk Owners of the Company 92,91 80,00 12,91 16,13

Kepentingan Non-Pengendali Non-Controlling Interest - - - -

Laba Tahun BerjalanProfit for the Year 92,91 80,00 12,91 16,13

Rugi Komprehensif Lain Tahun BerjalanOther Comprehensive Loss for the Year (48,13) (62,56) (14,43) (23,07)

Laba Komprehensif yang Dapat Diatribusikan Kepada:Comprehensive Gain Attributable to:

Pemilik Entitas Induk Owners of the Company 44,78 17,44 27,34 156,74

Kepentingan Non-Pengendali Non-Controlling Interest - - - -

Laba Komprehensif Tahun Berjalan Comprehensive Gain for the Year 44,78 17,44 27,34 156,74

Laba per Saham (dalam Rupiah penuh)Earnings per Share (Rupiah in full) 619,39 533,35 86,04 16,13

Premi BrutoPada tahun 2020, Perseroan berhasil membukukan premi bruto sebesar Rp1,69 triliun, mengalami peningkatan sebesar 16,01% atau Rp233,62 miliar dari tahun 2019 yang tercatat sebesar Rp1,46 triliun.

Hasil InvestasiHasil investasi Perseroan menurun 52,26% atau Rp43,42 miliar, dari Rp83,08 miliar di tahun 2019 menjadi Rp 39,66 miliar di tahun 2020.

Beban Beban Perseroan tahun 2020 mencapai Rp1,11 triliun meningkat 2,64% atau Rp28,51 miliar dari tahun 2019 yang tercatat sebesar Rp1,08 triliun.

Laba Tahun BerjalanSejalan dengan meningkatnya laba sebelum beban pajak penghasilan, laba tahun berjalan juga tercatat mengalami peningkatan. Hingga akhir tahun 2020, laba tahun berjalan Perseroan mencapai Rp92,91 miliar, meningkat 16,13% atau Rp12,91 miliar dibandingkan tahun sebelumnya yang tercatat sebesar Rp80,00 miliar.

Gross PremiumsIn 2020, the Company successfully recorded gross premiums amounted to Rp1.69 trillion, an increase by 16.01% or Rp233.62 billion from 2019 amounted to Rp1.46 trillion.

Investment IncomeThe Company’s investment income decreased by 52.26% or Rp43.42 billion, from Rp83.08 billion in 2019 to Rp39.66 billion in 2020.

ExpensesThe Company’s expenses in 2020 was amounted to Rp1.11 trillion, an increase by 2.64% or Rp28.51 billion from 2019 at Rp1.08 trillion.

Profit for the YearIn line with the increase in income before tax expense, the profit for the year also recorded an increase. Until the end of 2020, the Company’s profit for the year was amounted to Rp92.91 billion, an increase by 16.13% or Rp12.91 billion compared to the previous year at Rp80.00 billion.



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Rasio Keuangan(dalam % / in %)

UraianDescription 2020 2019

Rasio ProfitabilitasProfitability Ratio

Margin Laba BersihNet Profit Margin 7,61 6,85

Rasio Laba Bersih terhadap Total AsetReturn on Assets (ROA) Ratio 3,30 3,30

Rasio Laba Bersih terhadap Total Ekuitas Return on Equity (ROE) Ratio 10,79 9,43

Rasio Hasil UnderwritingUnderwriting Income Ratio 23,63 18,49

Rasio Beban KlaimClaim Expenses Ratio 60,84 74,05

Rasio Beban KomisiCommission Expenses Ratio 5,49 6,97

Rasio Hasil InvestasiInvestment Income Ratio 3,36 7,61

Rasio LikuiditasLiquidity Ratio 139,90 148,64

Rasio SolvabilitasSolvency Ratio

Rasio Pencapaian SolvabilitasSolvency Achievement Ratio 189,43 198,54

Rasio Liabilitas terhadap Total AsetLiabilities to Total Assets Ratio 69,42 65,02

Rasio Liabilitas terhadap Total Ekuitas Liabilities to Total Equity Ratio 226,98 185,89

Rasio ProfitabilitasMargin Laba BersihPada tahun 2020, margin laba bersih Perseroan mencapai 7,61%, meningkat dari tahun 2019 yang tercatat sebesar 6,85%.

Rasio Laba Bersih terhadap Total AsetPer 31 Desember 2020, rasio laba bersih terhadap total aset Perseroan mencapai 3,30%. Jumlah tersebut sama dengan perolehan di tahun 2019.

Rasio Laba Bersih terhadap Total EkuitasRasio laba bersih terhadap ekuitas Perseroan mengalami peningkatan, dari 9,43% di tahun 2019 menjadi 10,79% di tahun 2020.

Rasio Hasil UnderwritingRasio hasil underwriting merupakan rasio yang menunjukkan hasil underwriting yang diperoleh dan digunakan untuk mengukur tingkat keuntungan dari usaha asuransi dengan membandingkan antara hasil underwriting dan pendapatan premi-neto. Pada tahun 2020, rasio hasil underwriting mencapai 23,63%, meningkat dibandingkan tahun 2019 yang tercatat sebesar 18,49%.

Profitability RatioNet Profit MarginIn 2020, the Company’s net profit margin was recorded at 7.61%, an increase from 2019 at 6.85%.

Return on Assets (ROA) RatioAs of December 31st, 2020, the Company’s Return on Assets ratio was recorded at 3.30%. This was the same as in 2019.

Return on Equity (ROE) RatioThe Company’s Return on Equity ratio has increased, from 9.43% in 2019 to 10.79% in 2020.

Underwriting Income RatioThe underwriting income ratio is a ratio that shows the underwriting income obtained and is used to measure the level of profit of an insurance business by comparing the underwriting income to the premium revenue. In 2020, the underwriting income ratio was recorded at 23.63%, an increase compared to 2019 at 18.49%.

Financial Ratio


Rasio Beban KlaimPada tahun 2020, rasio beban klaim tercatat sebesar 60,84%, menurun dari tahun 2019 yang mencapai 74,05%.

Rasio Beban KomisiRasio beban komisi ini digunakan untuk mengukur biaya komisi yang dikeluarkan agar Perseroan memperoleh pendapatan. Pada tahun 2020, rasio beban komisi tercatat sebesar 5,49%, menurun dibandingkan tahun 2019 yang mencapai 6,97%.

Rasio Hasil Investasi Pada tahun 2020, rasio hasil investasi Perseroan tahun 2020 tercatat sebesar 3,36%, mengalami penurunan dibandingkan tahun 2019 yang mencapai 7,61%.

Kemampuan Membayar Utang

Likuiditas Rasio Likuiditas dijadikan sebagai alat ukur untuk mengetahui kemampuan Perseroan dalam memenuhi kewajiban keuangan dalam jangka pendek. Rasio likuiditas dilihat berdasarkan perhitungan rasio cepat dan rasio lancar. Dalam operasionalnya, Manajemen Perseroan senantiasa melakukan evaluasi dan pengawasan terhadap arus kas masuk (cash-in) dan arus kas keluar (cash-out), guna memastikan tersedianya dana untuk memenuhi kebutuhan pembayaran liabilitas jangka pendek ataupun liabilitas jangka panjang yang telah jatuh tempo.

Rasio likuiditas Perseroan tahun 2020 tercatat sebesar 139,90%, menurun dibandingkan tahun 2019, yakni sebesar 148,64%.

Solvabilitas Rasio solvabilitas dijadikan sebagai tolok ukur untuk mengetahui kemampuan Perseroan dalam memenuhi kewajiban jangka panjang. Rasio solvabilitas dapat dihitung melalui rasio total liabilitas terhadap total aset dan rasio total liabilitas terhadap total ekuitas. Berdasarkan Peraturan Otoritas Jasa Keuangan No. 71/ POJK.05/2016, perusahaan asuransi dan perusahaan reasuransi Indonesia diwajibkan untuk menjaga rasio solvabilitas yang dihitung dengan menggunakan pendekatan Modal Minimum Berbasis Risiko (MMBR). Perseroan wajib untuk memenuhi target tingkat solvabilitas minimum 120% dari risiko yang mungkin timbul sebagai akibat dari deviasi dalam pengelolaan kekayaan dan liabilitas.

Hingga akhir Desember 2020, rasio pencapaian solvabilitas Perseroan tercatat 189,43%, jauh di atas persyaratan minimum. Sementara itu, rasio liabilitas terhadap total aset dan rasio liabilitas terhadap total ekuitas mengalami peningkatan, masing-masing menjadi 69,42% dan 226,98% dari semula 65,02% dan 185,89%.

Claim Expenses RatioIn 2020, the claim expenses ratio was recorded at 60.84%, a decrease from 2019 at 74.05%.

Commission Expenses RatioThis commission expenses ratio is used to measure the commission costs incurred for the Company to earn revenue. In 2020, the commission expenses ratio was recorded at 5.49%, a decrease compared to 2019 at 6.97%.

Investment Income RatioIn 2020, the Company’s investment income ratio in 2020 was recorded at 3.36%, a decrease compared to 2019 at 7.61%.

Solvency

LiquidityThe liquidity ratio is used as a measurement tool to determine the Company’s ability to pay its short-term financial obligations. The liquidity ratio is measure based on the calculation of the quick ratio and the current ratio. In its operations, the Company’s Management constantly evaluates and supervises the cash-in and cash-out to ensure the availability of funds to pay matured current and non-current liabilities.

The Company’s liquidity ratio in 2020 was recorded at 139.90%, a decrease compared to 2019 at 148.64%.

SolvencyThe solvency ratio is used as a benchmark to determine the Company’s ability to repay its long-term obligations. The solvency ratio can be calculated through the total liabilities to total assets ratio and total liabilities to total equity ratio. Based on the Financial Services Authority Regulation No. 71/POJK.05/2016, Indonesian insurance and reinsurance companies are required to maintain a solvency ratio, which is calculated using Risk Based Minimum Capital (MMBR) approach. The Company is required to meet minimum solvency level target of at least 120% of the potential risks from deviation in the management of assets and liabilities.

Until the end of December 2020, the Company’s solvency achievement ratio was recorded at 189.43%, far above the minimum requirement. Meanwhile, the liabilities to total assets ratio and liabilities to total equity ratio increased to 69.42% and 226.98% respectively from 65.02% and 185.89%.



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Tingkat Kolektibilitas Piutang

Perseroan memiliki piutang yang terdiri dari piutang premi, piutang reasuransi, dan piutang lain-lain. Informasi terkait jumlah, periode, serta penagihan utang diuraikan sebagai berikut.

Piutang Premi / Premium Receivables (dalam miliar Rupiah / in billion Rupiah)

Piutang PremiPremium Receivables 2020 2019

Kurang dari 60 HariLess than 60 Days 414,55 297,65

Lewat Jatuh Tempo 60-90 HariOverdue 60-90 Days 6,43 3 ,68

Lewat Jatuh Tempo Lebih dari 90 HariOverdue more than 90 Days 27,94 31,93

Total Piutang PremiTotal Premium Receivables 448,92 333,26

Piutang Reasuransi / Reinsurance Receivables (dalam miliar Rupiah / in billion Rupiah)

Piutang ReasuransiReinsurance Receivables 2020 2019

Kurang dari 60 HariLess than 60 Days

16,62 22,20

Lewat Jatuh Tempo 60-90 HariOverdue 60-90 Days

4,23 4,22

Lewat Jatuh Tempo Lebih dari 90 HariOverdue more than 90 Days

9,95 9,36

Total Piutang ReasuransiTotal Reinsurance Receivables

30,80 35,78

Perseroan menerapkan langkah-langkah strategis untuk meningkatkan kolektibilitas piutang, yaitu:1. Memaksimalkan penagihan melalui email dan SMS;2. Mempercepat pengiriman polis dan nota tagihan dengan

melalui email (e-Polis); serta 3. Menambah metode pembayaran yang memudahkan

tertanggung dalam melakukan pembayaran.

Struktur Modal

Perseroan mengelola permodalan guna memastikan pemeliharaan rasio modal yang sehat untuk menjaga keberlangsungan usaha dan memaksimalkan keuntungan bagi Pemegang Saham. Perseroan mengelola struktur modal dengan melakukan penyesuaian, berdasarkan perubahan kondisi ekonomi. Dalam memelihara dan menyesuaikan struktur modal tersebut, Perseroan dapat menyesuaikan pembayaran dividen kepada Pemegang Saham, imbalan modal

Receivables Collectability Rate

The Company has receivables consisting of premium receivables, reinsurance receivables, and other receivables. Information related to the amount, period, and collection of debt is described as follows.

The Company strived to improve collectability by implementing the following strategic measures:1. Maximizing collection through email and SMS;2. Accelerating the deliverance of policy and invoice through

email (ePolicy); and3. Adding payment methods to further improve ease of

payment for the insured.

Capital Structure

The Company manages its capital to ensure that healthy capital ratios are maintained to keep the business continuity and maximize profits for the Shareholders. The Company manages its capital structure by making adjustments, based on changes in economic conditions. In maintaining and adjusting the capital structure, the Company may adjust dividend payments to the Shareholders, capital return to the Shareholders, or issue new shares. Throughout 2020, no


kepada Pemegang Saham, atau menerbitkan saham baru. Sepanjang tahun 2020, tidak terjadi perubahan atas tujuan, kebijakan, ataupun proses struktur modal. Perseroan terus berupaya menjaga rasio modal dengan menggunakan ukuran leverage keuangan, yaitu rasio utang terhadap ekuitas.



Total LiabilitasTotal Liabilities 1.954,50 1.577,33

Dikurangi:Less: Kas dan Bank Cash on Hand and Banks

24,10 17,52

Liabilitas NetoNet Liabilities 1.930,39 1.559,82

EkuitasEquity

Modal Saham Share Capital 75,00 75,00

Tambahan Modal Disetor Additional Paid In Capital 102,72 102,72

Saldo Laba Retained Earnings 718,11 674,60

Total EkuitasTotal Equity 895,84 848,51

Rasio Utang terhadap Ekuitas (%)Liabilities to Equity Ratio (%) 215,49 186,96

Realisasi Penggunaan Dana Hasil Penawaran Umum

Berdasarkan Peraturan Otoritas Jasa Keuangan No. 30/ POJK.05/2015 tentang Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum, Perseroan wajib melaporkan dana dan hasil penawaran umum perdana saham kepada regulator. Namun, sejak pelaksanaan penawaran umum perdana saham di tahun 1997, Perseroan belum melakukan penawaran saham. Adapun dana dan hasil penawaran umum perdana saham tersebut telah digunakan seluruhnya dan telah dilaporkan penggunaannya kepada regulator.

Program Kepemilikan Saham oleh Manajemen dan/atau Karyawan

Sampai akhir tahun 2020, Perseroan tidak melaksanakan program kepemilikan saham, baik untuk Manajemen maupun karyawan.

changes were made to the goals, policies, or capital structure processes. The Company continues to strive in maintaining its capital ratio by using a financial leverage measure, namely the liabilities to equity ratio.

Realization of Use of Proceeds from Public Offering

Based on the Financial Services Authority Regulation No. 30/POJK.05/2015 concerning Report on the Realization of Use of Proceeds from Public Offering, the Company is required to report the fund and proceeds from the initial public offering activity to the regulator. However, since the implementation of the initial public offering in 1997, the Company has not offered any other stock yet. As for the funds and proceeds from the initial public offering have been fully used and reported to the regulator.

Management and/or Employees Share Ownership Program

Until the end of 2020, the Company did not implement any share ownership program, either for the Management or employees.



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Ikatan Material untuk Investasi Barang Modal

Pada tahun 2020, Perseroan tidak memiliki ikatan material untuk investasi barang modal.

Investasi Barang Modal

Sepanjang tahun 2020, Perseroan melakukan investasi barang modal yang dijelaskan pada tabel berikut.


Jenis Barang ModalCapital Goods Type

TujuanPurpose

NilaiValue

BangunanBuilding

Pendukung OperasionalOperational Support 0,29

Kendaraan BermotorMotor Vehicles


Peralatan KantorOffice Equipment


KomputerComputer


Total 10,05

Informasi Material terkait Investasi, Ekspansi, Divestasi, Penggabungan/ Peleburan Usaha, Akuisisi, dan Restrukturisasi Utang/Modal

Investasi Instrumen KeuanganInvestasi dalam instrumen keuangan yang dilakukan Perseroan di tahun 2020 diungkapkan sebagai berikut.


UraianDescription Rp

EfekMarketable Securities 956,78

Deposito BerjangkaTime Deposits 271,57

Properti InvestasiInvestment Properties 109,73

Penyertaan SahamInvestment in Stock 1,17

Total 1.339,25

Rincian investasi instrumen keuangan diungkapkan dalam Catatan No. 8 Laporan Keuangan Konsolidasian Perseroan.

Material Commitments for Capital Assets Investment

In 2020, the Company has no material commitments for investment in capital expenditure.

Capital Assets Investment

In 2020, the Company has conducted a capital assets investment as described in the following table.

Material Information on Investment, Expansion, Divestment, Merger/Consolidation, Acquisition, and Capital/Debt Restructuring

Financial Instrument InvestmentsInvestments in financial instruments conducted by the Company in 2020 are described as follows.

Details of investment in financial instruments are disclosed in Note to Consolidated Financial Statements No. 8.


Dewan Komisaris, Direksi, dan Komite Audit telah memastikan transaksi tersebut dilakukan dengan wajar dan telah dilaksanakan sesuai dengan praktik bisnis yang berlaku secara umum.

EkspansiPerseroan senantiasa melakukan pengembangan jumlah mitra bisnis, yang terdiri dari mitra pemasaran dan mitra operasional. Mitra pemasaran meliputi broker, agen, perusahaan fintech, bank, leasing, dan e-commerce. Sedangkan, mitra operasional meliputi bengkel rekanan, rumah sakit, perusahaan reasuransi, loss adjuster, dan penyedia layanan TI.

Penggabungan atau Peleburan UsahaSepanjang tahun 2020, Perseroan tidak melakukan penggabungan atau peleburan usaha.

AkuisisiSepanjang tahun 2020, Perseroan tidak melakukan akuisisi.

Restrukturisasi Utang/ModalSepanjang tahun 2020, Perseroan tidak melakukan restrukturisasi utang/modal.

The Board of Commissioners, Board of Directors, and the Audit Committee have ensured that the transaction was carried out fairly and in accordance with generally accepted business practices.

ExpansionThe Company continues to expand the number of its business partners, which consists of marketing partners and operational partners. Marketing partners include brokers, agents, fintech companies, banks, leasing companies, and e-commerce business. Whereas, operational partners include partner workshops, hospitals, reinsurance companies, loss adjusters, and IT service providers.

Business Merger or ConsolidationIn 2020, the Company did not carry out a business merger and consolidation.

AcquisitionIn 2020, the Company did not make any acquisitions.

Debt/Capital RestructuringIn 2020, the Company did not conduct any debt/capital restructuring.

Material Transactions Containing Conflict of Interest or Transactions with Affiliated Parties

The Company has conducted transactions with related parties, particularly related to insurance transactions. The nature and relationships as well as the types of transactions carried out with related parties are described in the following table.

Transaksi Material yang Mengandung Benturan Kepentingan atau Transaksi dengan Pihak Afiliasi

Perseroan telah melakukan transaksi dengan pihak berelasi, terutama terkait transaksi asuransi Sifat dan hubungan serta jenis transaksi yang dilakukan dengan pihak-pihak berelasi diungkapkan pada tabel berikut.

Pihak BerelasiRelated Parties

Jenis TransaksiTypes of Transaction

PT Aon Indonesia Penutupan asuransi.Closing of insurance.

PT Aon Reinsurance Brokers Indonesia Penutupan asuransi.Closing of insurance.

PT Lippo Karawaci Tbk Penutupan asuransi.Closing of insurance.

PT Matahari Putra Prima Tbk Penutupan asuransi.Closing of insurance.

PT Bank Nationalnobu Tbk Penutupan asuransi dan investasi.Closing of insurance and investment.

Rincian transaksi dengan pihak berelasi diungkapkan dalam Catatan No. 37 Laporan Keuangan Konsolidasian Perseroan.

Details of transactions with related parties are disclosed in Note to Consolidated Financial Statements No. 37.



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Dewan Komisaris, Direksi, dan Komite Audit telah memastikan transaksi tersebut dilakukan dengan wajar dan telah dilaksanakan sesuai dengan praktik bisnis yang berlaku secara umum.

Pencapaian Target 2020

Kinerja keuangan Perseroan tahun 2020 secara umum telah sejalan dengan target yang ditentukan meskipun di tengah ketidakpastian kondisi perekonomian, baik global dan nasional, serta industri.


UraianDescription

Realisasi 2020Realization in 2020

Target 2020Target in 2020

PencapaianAchievement

(%)

Total Aset Total Assets 2.815,58 2.541,92 110,77

Total Liabilitas Total Liabilities 1.954,50 1.594,60 122,57

Total Ekuitas Total Equity 861,08 947,32 90,90

Premi BrutoGross Premiums 1.693,22 1.600,00 105,83

Klaim BrutoGross Claims 957,76 967,97 98,95

Hasil UnderwritingUnderwriting Income 279,13 211,21 132,16

Laba Tahun BerjalanProfit for the Year 92,91 57,48 161,64

Kebijakan dan Pembagian Dividen

Kebijakan DividenPerseroan membayarkan dividen dengan uang tunai kepada Pemegang Saham. Pembagian dividen tersebut juga mempertimbangkan perolehan laba dan tingkat kesehatan keuangan Perseroan, serta tanpa mengurangi hak dari RUPS.

Pembagian DividenInformasi terkait pembagian dividen Perseroan dalam 2 tahun terakhir diungkapkan dalam tabel berikut.

Tanggal Pembayaran Dividen

Dividend PaymentDate

Tahun BukuFinancial Year

Jumlah Dividen per Saham

(dalam Rupiah penuh)Total Dividend per

Share (in full Rupiah)

Jumlah Dividen per Tahun

(dalam miliar Rupiah)Total Dividend per Year

(in billion Rupiah)

Rasio DividenDividend Ratio

10 Mei 2019May 10th, 2019 2018 325 48,75 70,97% dari laba bersih

70.97% from net income

9 September 2020September 9th, 2020 2019 214 32,10 40,12% dari laba bersih

40.12% from net income

The Board of Commissioners, Board of Directors, and the Audit Committee have ensured that the transaction was carried out fairly and in accordance with generally accepted business practices.

Target Achievement in 2020

In general, the Company’s financial performance in 2020 was in line with the predetermined targets despite the uncertain economic conditions, both global and national, as well as in the industry.

Dividend Policy and Payout

Dividend PolicyThe Company pays dividends in cash to the Shareholders. The dividend distribution also considers the Company’s profitability and financial soundness, and without prejudice to the rights of the GMS.

Dividend DistributionInformation regarding the distribution of the Company’s dividends in the last 2 years is described in the following table.


Perubahan Kebijakan Akuntansi

Laporan Keuangan Konsolidasian disusun sesuai dengan Standar Akuntansi Keuangan Indonesia (SAKI), yang mencakup Pernyataan Standar Akuntansi Keuangan (PSAK) dan Interpretasi Standar Akuntansi Keuangan (ISAK) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia (DSAK IAI) terkait pedoman penyajian dan pengungkapan laporan keuangan yang diterbitkan oleh Otoritas Jasa Keuangan.

Ikatan Akuntan Indonesia (IAI) telah menerbitkan pernyataan standar akuntansi keuangan baru, amandemen, dan interpretasi standar akuntansi keuangan baru/revisi standar tersebut terhadap kebijakan akuntansi Perseroan dan Entitas Anak yang diuraikan sebagai berikut.1. Standar, perubahan, dan interpretasi yang berlaku efektif

mulai tanggal 1 Januari 2020 yang terdiri dari:a. PSAK 71, “Instrumen Keuangan”;b. PSAK 72, “Pendapatan dari Kontrak dengan

Pelanggan”;c. PSAK 73, “Sewa”;d. PSAK 62 (Amandemen 2017): “Kontrak Asuransi

tentang Menerapkan PSAK 71: Instrumen Keuangan dengan PSAK 62: “Kontrak Asuransi”;

e. ISAK 25, “Penyajian Laporan Keuangan Entitas Berorientasi Bonlaba”;

f. Amandemen PSAK 1, “Penyajian Laporan Keuangan” dan PSAK 25, “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan”;

g. Amandemen PSAK 1, “Penyajian Laporan Keuangan” tentang judul Laporan Keuangan;

h. Amandemen PSAK 15, “Investasi pada Entitas Asosial dan Ventura Bersama”;

i. Amandemen PSAK 25, “Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan”;

j. Penyesuaian Tahunan atas PSAK 1, “Penyajian Laporan Keuangan”;

k. Amandemen PSAK 71, “Instrumen Keuangan” tentang fitur percepatan pelunasan kompensasi negatif;

l. Amandemen PSAK 60, “Instrumen Keuangan: Pengungkapan” tentang reformasi acuan suku bunga; dan

m. Amandemen PSAK 73, “Sewa” tentang konsesi sewa terkait Covid-19.

2. Standar, perubahan, dan interpretasi yang sudah diterbitkan tetapi belum berlaku efektif, yaitu Amandemen PSAK 22, “Kombinasi Bisnis”.

Changes in Accounting Policy

The Consolidated Financial Statements have been prepared pursuant to the Financial Accounting Standards in Indonesia, which comprise Statement of Financial Accounting Standards (SFAS) and Interpretations of Statement of Financial Accounting Standards (ISFAS) issued by the Financial Accounting Standards Board of the Institute of Indonesia Chartered Accountants and Regulations regarding Guidelines for Financial Statements Presentation and Disclosure issued by the Financial Services Authority.

The Institute of Indonesia Chartered Accountants (IAI) has issued new financial accounting standars, amendments and new interpretation of financial accounting standards/revision. The impact of these standards to the Company and Subsidiaries accounting policy is described as follows.1. Standards, amendments and interpretations that are effective

starting January 1st, 2020, consisting of:a. PSAK 71, “Financial Instruments”;b. PSAK 72, “Revenue from Contracts with Customers”;

c. PSAK 73, “Leases”;d. PSAK 62 (Amendment 2017): “Insurance Contract

concerning Applying PSAK 71: “Financial Instruments” with PSAK 62: “Insurance Contract”;

e. ISAK 25, “Presentation of Financial Statements for Non-Profit Oriented Entities”;

f. Amendments to PSAK 1, “Presentation of Financial Statements” and PSAK 25, “Accounting Policies, Changes in Accounting Estimates and Errors”;

g. Amendments to PSAK 1, “Presentation of Financial Statements” concerning the title of Financial Statements;

h. Amendments to PSAK 15, “Investments in Asocial Entities and Joint Ventures”;

i. Amendments to PSAK 25, “Accounting Policies, Changes in Accounting Estimates, and Errors”;

j. Annual Adjustments to PSAK 1, “Presentation of Financial Statements”;

k. Amendments to PSAK 71, “Financial Instruments” concerning the feature for early settlement of negative compensation;

l. Amendments to PSAK 60, “Financial Instruments: Disclosures” concerning reform of the interest rate reference; and

m. Amendments to PSAK 73, “Leases” regarding lease concessions related to Covid-19.

2. Standards, amendments, and interpretations that have been published but not yet effective, i.e. Amendments to PSAK 22, “Business Combinations”.



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Dampak Perubahan Kebijakan AkuntansiPenerapan standar akuntansi tersebut tidak memberikan dampak signifikan terhadap Laporan Keuangan Konsolidasian Perseroan.

Perubahan Peraturan Perundang-Undangan yang Berdampak Signifikan terhadap Perusahaan

Pada tahun 2020, terdapat beberapa perubahan peraturan perundang-undangan yang memberi dampak signifikan terhadap aktivitas operasional Perseroan. Perubahan tersebut dijelaskan pada tabel berikut.

PeraturanRegulation

PerihalSubject

Efektif SejakEffective Since

Dampak terhadap PerseroanImpact to the Company

Peraturan Pemerintah Pengganti Undang-undang (“Perpu”) No. 1 Tahun 2020Government Regulation in Lieu Law No. 1 of 2020

Kebijakan Keuangan Negara dan Stabilitas Sistem Keuangan untuk Penanganan Pandemi Corona Virus Disease 2019 (Covid-19) dan/atau dalam Rangka Menghadapi Ancaman yang Membahayakan Perekonomian Nasional dan/atau Stabilitas Sistem Keuangan.State Financial Policy and Financial System Stability for Handling the Corona Virus Disease 2019 (Covid-19) Pandemic and/or in the Context of Facing Threats that Endanger the National Economy and/or Financial System Stability.

31 Maret 2020March 31st, 2020

• Untuk tahun pajak 2020 dan 2021, dari 25% menjadi 22%; dan

• Mulai tahun pajak 2022, dari 22% menjadi 20%.

• For 2020 and 2021 tax years, from 25% to 22%; and

• Starting from 2022 tax year and beyond, from 22% to 20%.

Peraturan Menteri Keuangan No. 44/PMK.03/2020 selanjutnya dirubah terakhir No. 110/PMK.03/2020Minister of Finance Regulation No. 44/PMK.03/2020 and last amended by No. 110/PMK.03/2020

Insentif pajak untuk wajib pajak terdampak pandemi corona virus disease 2019.Tax incentives for taxpayers affected by the 2019 corona virus disease pandemic.

27 April 2020April 27th, 2020

Perseroan memperoleh insentif perpajakan sejak ditetapkan peraturan ini.The Company has received tax incentives since this regulation was enacted.

Impact of Changes in Accounting PolicyThe adoption of these accounting standards did not have a significant impact on the Company’s Consolidated Financial Statements.

Changes to Laws and Regulations that Have a Significant Impact on the Company

In 2020, there were several changes to laws and regulations that had a significant impact on the Company’s operational activities. These changes are described in the following table.

Informasi Material setelah Tanggal Laporan KeuanganSepanjang tahun 2020, terdapat informasi material setelah tanggal Laporan Keuangan, yaitu:

Undang-Undang Cipta KerjaPada tanggal 5 Oktober 2020, Dewan Perwakilan Rakyat (DPR) menyetujui Undang-Undang Cipta Kerja (“UU Cipta Kerja”) - yang biasa dikenal dengan “Undang-Undang Omnibus”, yang kemudian ditandatangani Presiden pada tanggal 2 November 2020. Undang-Undang Omnibus mengamendemen lebih dari 75 undang-undang, dan mengharuskan pemerintah pusat untuk menerbitkan lebih dari 30 peraturan pemerintah dan peraturan pelaksana lainnya yang harus dikeluarkan dalam waktu tiga bulan setelah diundangkan Undang-Undang Omnibus. Undang-Undang Omnibus berfokus pada peningkatan kemudahan berusaha di Indonesia (diantaranya,

Material Information Subsequent to the Financial Statements Date

Throughout 2020, there was material information after the date of the Financial Statements, i.e.:

Omnibus Law on Job CreationOn October 5th, 2020, the House of Representatives (DPR) approved the Omnibus Law on Job Creation, which the President later signed on November 2nd, 2020. The Omnibus Law on Job Creation amends more than 75 laws, and requires the Central Government to issue more than 30 Government Regulations and other implementing regulations that must be issued within three months of the enactment of the Omnibus Law on Job Creation. The Omnibus Law on Job Creation focuses on improving the ease of doing business in Indonesia (among others by simplifying the licensing process, simplifying the land acquisition process, formalizing economic zones,


menyederhanakan proses perizinan, menyederhanakan proses pengadaan tanah, memformalkan zona ekonomi, memberikan lebih banyak insentif untuk zona perdagangan bebas, dan mengubah undang-undang ketenagakerjaan).

Pada tanggal 2 Februari 2021, Pemerintah Republik Indonesia telah resmi mengeluarkan 45 Peraturan Pemerintah dan 4 Peraturan Presiden sebagai peraturan pelaksana Undang-Undang No. 11 Tahun 2020 tanggal 2 November 2020 tentang Cipta Kerja (“UU Cipta Kerja”).

Pada saat penerbitan Laporan Keuangan ini, manajemen sedang mempelajari dampak yang mungkin timbul dari peraturan pelaksana UU Cipta Kerja ini terhadap bisnis dan operasional Perseroan, serta pengaruhnya terhadap Laporan Keuangan Konsolidasian Perseroan.

Prospek Usaha Tahun 2021

Perekonomian Indonesia tahun 2021 diprakirakan akan mengalami perbaikan, sejalan dengan perkembangan penanganan Covid-19, termasuk vaksinasi, kondisi perekonomian global, serta realisasi stimulus fiskal dan penguatan kebijakan. Industri asuransi juga diperkirakan mengalami perbaikan seiring dengan meningkatnya pemahaman dan kesadaran masyarakat untuk memiliki asuransi. Selain itu, perkembangan bisnis asuransi ke depannya didukung oleh kebijakan yang diterbitkan Pemerintah, sebagaimana tercantum dalam Surat No. S-11/D.05/2020 tentang Kebijakan Countercyclical Dampak Penyebaran Covid-19 bagi Perusahaan Perasuransian. Kebijakan tersebut memuat tentang relaksasi pembatasan pada aset yang diperkenankan dalam bentuk bukan investasi pada tagihan premi penutupan langsung, termasuk tagihan premi koasuransi. Tagihan premi reasuransi juga diperpanjang dari 2 bulan menjadi 4 bulan. Relaksasi tersebut bertujuan agar perusahaan asuransi dapat bertahan pada kondisi pasar yang tidak menentu sebagai dampak dari penyebaran virus corona.

Untuk merespons prospek usaha tersebut, Perseroan melihat momentum yang baik untuk tetap bertumbuh di tahun 2021 melalui 3 aspek penting yang dimiliki, yaitu Commited Team, Growing Ecosystem, dan Solid Financials.

providing more incentives for free trade zones, and changing labor laws).

On February 2nd, 2021, the Government of the Republic of Indonesia has officially issued 45 Government Regulations and 4 Presidential Regulations as implementing regulations for Law No. 11 of 2020 dated November 2nd, 2020 concerning The Omnibus Law on Job Creation.

At the time of the issuance of this Financial Statement, the Management was studying the impact that the implementing regulation of the The Omnibus Law on Job Creation might have on the Company’s business and operations, as well as the impact on the Company’s Consolidated Financial Statements.

Business Prospects in 2021

Indonesian economy in 2021 is expected to see improvement alongside developments in handling Covid-19, including vaccinations, global economic conditions, and the realization of fiscal stimulus and policy strengthening. The insurance industry is also expected to experience improvement in line with the public’s increased understanding and awareness with regards to the benefits of having insurance. Additionally, the future development of the insurance business is supported by Government policies, such as those stated in Order No. S-11/D.05/2020 on Countercyclical Policies on the Impact of the Covid-19 on Insurance Companies. This policy stipulates relaxation of restrictions on admitted non-investment assets on direct coverage premium billings, including coinsurance premium billings. The reinsurance premium billings were also extended from 2 months to 4 months. This relaxation was intended to bolster the ability of insurance companies to withstand the uncertain market conditions resulting from the spread of the corona virus.

In responding to these business prospects, the Company sees good momentum to keep growing in 2021 through 3 important aspects, i.e. Committed Team, Growing Ecosystem, and Solid Financials.



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Proyeksi Tahun 2021

Target usaha disusun dengan mempertimbangkan kondisi perekonomian, prospek usaha, serta kinerja Perseroan, sebagaimana yang diungkapkan dalam tabel berikut.


UraianDescription

Realisasi 2020Realization in 2020

Target 2021Target in 2021

Total Aset Total Assets 2.815,58 3.013,49

Total Liabilitas Total Liabilities 1.954,50 2.026,86

Total Ekuitas Total Equity 861,08 986,64

Premi BrutoGross Premiums 1.693,22 1.725,00

Klaim BrutoGross Claims 957,76 700,98

Hasil UnderwritingUnderwriting Income 279,13 285,47

Laba Tahun BerjalanProfit for the Year 92,91 120,62

Informasi Kelangsungan Usaha

Hal-Hal yang Berpotensi Berpengaruh Signifikan terhadap Kelangsungan UsahaBelum terdapat hal-hal yang berpengaruh signifikan terhadap keberlangsungan usaha meskipun pada tahun 2020 Perseroan menghadapi ketidakpastian kondisi industri asuransi.

Penilaian Manajemen atas Hal-Hal yang Berpotensi Berpengaruh Signifikan terhadap Kelangsungan UsahaPihak Manajemen Perseroan telah melakukan penilaian terhadap kemampuan Perseroan dalam melanjutkan keberlangsungan usaha di masa depan. Pihak Manajemen berkeyakinan bahwa Perseroan mempunyai kekuatan untuk melanjutkan usaha melalui berbagai strategi yang efektif. Berdasarkan penilaian tersebut, Perseroan juga tidak menemukan adanya ketidakpastian material yang dapat memberi pengaruh terhadap kemampuan perusahaan dalam melanjutkan kegiatan usaha.

Information on Business Continuity

Matters with Potentially Significant Impact on Business ContinuityThere are no matters that have a significant impact yet on business continuity even though the Company is facing uncertainty in the insurance industry conditions in 2020.

The Management’s Assessment of Matters with Potentially Significant Impact on Business ContinuityThe Company’s Management has conducted an assessment of the Company’s ability to continue its business continuity in the future. The Management believes that the Company has the strength to continue its business by various effective strategies. Based on this assessment, the Company also did not find any material uncertainties that could affect the Company’s ability to continue its business activities.

Projections for 2021

Business targets are prepared by taking into account economic conditions, business prospects and the Company’s performance, as shown in the following table.


Posisi LippoInsurancePerseroan termasuk dalam 15 besar Market Leader Asuransi Umum berdasarkan premi bruto dan 10 besar Market Leader Asuransi Umum berdasarkan premi neto.

Asumsi yang Digunakan Manajemen dalam Melakukan AssessmentDalam melakukan penilaian, Perseroan menggunakan asumsi dari berbagai sumber, baik dari pihak internal ataupun eksternal perusahaan. Asumsi tersebut juga digunakan untuk melakukan analisa terhadap model bisnis Perseroan, merumuskan strategi, serta kebijakan bisnis yang sesuai dengan Perseroan untuk menghadapi persaingan di industri asuransi.

LippoInsurance’s PositionThe Company is one of the top 15 General Insurance Market Leaders based on gross premiums and top 10 General Insurance Market Leaders based on net premiums.

Assumptions Used in the Management’s AssessmentIn conducting the assessment, the Company uses assumptions from various sources, both internal and external. These assumptions are also used to analyze the Company’s business model, formulate strategies, and business policies in facing competition in the insurance industry.

TATA KELOLA PERUSAHAANCORPORATE GOVERNANCE

100,00%

Nilai Peringkat 1 untuk Peringkat Faktor Tata Kelola Perusahaan yang Baik

#1 Rank in Good Corporate Governance Factor Rating

Pencapaian Implementasi GCG 2020Achievement of GCG Implementation 2020

Rata-Rata Kehadiran Rapat Dewan Komisaris dan DireksiThe Board of Commissioners’ and Board of Directors’

Average Level of Meeting Attendance


05 TATA KELOLA PERUSAHAANCorporate Governance

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Komitmen Penerapan Tata Kelola Perusahaan Commitment to Good Corporate Governance Implementation

Sebagai perusahaan perasuransian, menjaga kepercayaan para pemangku kepentingan, khususnya pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat merupakan hal yang penting. Terkait hal tersebut, Perseroan memandang bahwa tata kelola perusahaan (good corporate governance/GCG) mampu mengarahkan manajemen untuk mengelola perusahaan secara amanah, profesional, efektif, dan efisien. Maka dari itu, Perseroan berkomitmen untuk mengintegrasikan prinsip-prinsip GCG dalam tatanan operasional di lingkungan perusahaan sebagaimana diungkapkan dalam tabel berikut.

Prinsip GCGGCG Principles

Komitmen PerseroanCompany’s Commitment

TransparansiTransparency

Menyediakan informasi yang relevan, akurat, dan jelas kepada seluruh pemangku kepentingan melalui situs web Perseroan (www.lippoinsurance.com), Bursa Efek Indonesia (www.idx.co.id), dan berbagai platform sistem pelaporan yang diwajibkan oleh regulator.Providing relevant, accurate and clear information to all stakeholders through the Company’s website (www.lippoinsurance.com) and the Indonesia Stock Exchange’s website (www.idx.co.id).

AkuntabilitasAccountability

Menetapkan tugas dan tanggung jawab yang jelas bagi seluruh organ perusahaan sesuai Visi dan Misi serta Nilai dan Budaya Perseroan, dengan tetap memperhatikan peraturan perundang-undangan yang berlaku.Establish distinct duties and responsibilities for all Company’s organs in accordance with the Company’s Vision and Mission as well as the Company’s Values and Culture, with due observance of the prevailing laws and regulations.

Tanggung JawabResponsibility

Mematuhi peraturan perundang-undangan yang berlaku serta melaksanakan tanggung jawab sosial dan lingkungan.Comply with applicable laws and regulations and carry out social and environmental responsibility.

IndependensiIndependence

Meminimalisir terjadinya benturan kepentingan dalam pengambilan keputusan yang diambil organ perusahaan.Minimizing the occurrence of conflicts of interest in decision making by Company’s organs.

Kewajaran dan KesetaraanFairness and Equality

Memastikan perlakuan yang setara dan adil dalam memenuhi hak-hak pemangku kepentingan sesuai dengan peraturan perundang-undangan.Ensuring equal and fair treatment in fulfilling the stakeholders’ rights in accordance with prevailing laws and regulations.

As an insurance company, maintaining the stakeholders’ trust, especially policy holders, insured, participants, and/or parties entitled to receive benefit is important. In this regard, the Company believes that Good Corporate Governance (GCG) is capable of directing the Management to manage the Company in a trustworthy, professional, effective, and efficient manner. Therefore, the Company is committed to integrating the GCG principles in the operational structure within the Company as disclosed in the following table.


The Company established a GCG structure based on Law No. 40 of 2007 concerning Limited Liability Companies. This structure is used as a guideline for the Company’s organs, such as the General Meeting of Shareholders, the Board of Commissioners, and the Board of Directors in supervising and managing business activities in a trustworthy, professional, effective and efficient manner towards continuous performance improvement.

In carrying out its duties and responsibilities, the Board of Commissioners is assisted by supporting committees, i.e. the Audit Committee, the Remuneration and Nomination Committee, the Risk Monitoring Committee, and the Corporate Governance Policy Committee. Meanwhile, the Board of Directors is assisted by the Investment Committee, the Product Development Committee, the Medical Committee, the AML-CTF Committee, the Anti-Fraud Committee, the Consumer Complaint Handling Committee, Corporate Secretary, and Internal Audit Unit, as well as external auditors who assist in auditing the Financial Statements. The Company’s GCG structure is described as follows.

Struktur Tata Kelola PerusahaanCorporate Governance Structure

Perseroan membentuk struktur GCG dengan berpedoman pada Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas. Struktur tersebut digunakan untuk mengarahkan organ perusahaan, seperti Rapat Umum Pemegang Saham, Dewan Komisaris, dan Direksi dalam mengawasi dan mengelola aktivitas bisnis secara amanah, profesional, efektif, dan efisien menuju peningkatan kinerja yang berkesinambungan.

Dalam menjalankan tugas dan tanggung jawabnya, Dewan Komisaris dibantu oleh komite pendukung, yaitu Komite Audit, Komite Nominasi dan Remunerasi, Komite Pemantau Risiko, serta Komite Kebijakan Tata kelola Perusahaan. Sementara Direksi, dibantu oleh Komite Investasi, Komite Pengembangan Produk, Komite Medis, Komite APU PPT, Komite Anti Fraud, Komite Penanganan Pengaduan Konsumen, Sekretaris Perusahaan, dan Unit Audit Internal, serta audit eksternal yang membantu mengaudit Laporan Keuangan Perseroan. Struktur GCG Perseroan digambarkan sebagai berikut.

Rapat Umum Pemegang SahamGeneral Meeting of Shareholders


Komite AuditAudit Committee

Komite Nominasi dan RemunerasiRemuneration and Nomination

Committee

Komite Pemantau RisikoRisk Monitoring Committee

Komite Kebijakan Tata Kelola Perusahaan

CorporateGovernance Policy Committee


Sekretaris PerusahaanCorporate Secretary

Audit Internal Internal Audit

Komite Pengembangan ProdukProduct Development Committee

Komite InvestasiInvestment Committee

Komite APU PPTAML-CFT Committee

Komite MedisMedical Committee

Komite Penanganan Pengaduan Konsumen

Customer Complain Handling Committee

Komite Anti FraudAnti-Fraud Committee



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Penerapan atas Pedoman Tata Kelola Perusahaan TerbukaImplementation of Good Corporate Governance Guideline for Public Companies

Penerapan GCG di Perseroan dilaksanakan berdasarkan Pedoman Tata Kelola Perusahaan Terbuka yang diatur dalam Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04/2015. Penerapan pedoman tersebut di sepanjang tahun 2020 diuraikan sebagai berikut.

RekomendasiRecommendation

KeteranganDescription

PenerapanImplementation

Aspek 1: Hubungan Perusahaan Terbuka dengan Pemegang Saham dalam Menjamin Hak-Hak Pemegang Saham.Aspect 1: The Relationship of a Public Company with the Shareholders in Ensuring Shareholders’ Rights.

Prinsip 1: Meningkatkan Nilai Penyelenggaraan RUPS.Principle 1: Improving the Quality of General Meeting of Shareholdes (GMS).

1.1 Perusahaan Terbuka memiliki cara atau prosedur teknis pengumpulan suara (voting) baik secara terbuka maupun tertutup yang mengedepankan independensi dan kepentingan Pemegang Saham.A Public Company has voting technical procedure or mechanism, either open vote or closed vote, which promote independency and the Shareholder’s interest.

Ketentuan tersebut tercantum dalam tata tertib RUPS serta senantiasa disampaikan oleh Ketua Rapat pada saat pelaksanaan RUPS.The provision is stipulated in the GMS procedures and always conveyed by the Chairman of the Meeting at the time of the GMS.

Terpenuhi.Implemented.

1.2 Seluruh anggota Dewan Komisaris dan Direksi Perusahaan Terbuka hadir dalam RUPS Tahunan.All members of the Board of Commissioners and Board of Directors of a Public Company attend the Annual GMS.

RUPS Tahunan Perseroan dihadiri oleh Dewan Komisaris, yakni Benny Haryanto Djie dan Frans Lamury, serta Direksi, yaitu Agus Benjamin, Johannes Agus, dan Gilbert Deddy Naibaho. Sedangkan, Jamilah Mawira Sungkar selaku Komisaris Independen Perseroan tidak menghadiri Rapat.The Company’s Annual GMS was attended by the Board of Commissioners, i.e. Benny Haryanto Djie and Frans Lamury, as well as the Board of Directors, i.e.y Agus Benjamin, Johannes Agus and Gilbert Deddy Naibaho. Meanwhile, Jamilah Mawira Sungkar as the Independent Commissioner did not attend the Meeting.

Penjelasan.Explanation.

1.3 Ringkasan risalah RUPS tersedia dalam situs web Perusahaan Terbuka paling sedikit selama 1 tahun.Summary of the GMS is available on the Public Company’s website at least for 1 (one) year.

Ringkasan risalah Tahunan 2020 telah dimuat dalam situs web Perseroan.The summary of the 2020 Annual GMS has been posted on the Company’s website.


Prinsip 2: Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.Principle 2: Improving the Quality of Communication between a Public Company and the Shareholders or Investors.

2.1 Perusahaan Terbuka memiliki suatu kebijakan komunikasi dengan Pemegang Saham atau Investor.A Public Company has a policy on communication with the Shareholders or investors.

Perseroan telah memiliki kebijakan komunikasi dengan Pemegang Saham atau investor. Komunikasi tersebut dilakukan melalui pelaksanaan RUPS dan paparan publik serta penyediaan informasi yang akurat melalui situs web, Laporan Tahunan, media sosial, dan narahubung Perseroan.The Company already has a communication policy with the Shareholders or investors. The Company has carried out this communication through GMS and Public Expose as well as the availability of accurate information via the Company’s official website, Annual Report, social media access, and contact center.


The GCG implementation in the Company is carried out based on the GCG Guidelines for Public Companies as stipulated in the Financial Services Authority Circular Letter No. 32/SEOJK.04/2015. The implementation of these guidelines throughout 2020 is described as follows.





2.2 Perusahaan Terbuka mengungkapkan kebijakan komunikasi dengan Pemegang Saham atau investor dalam situs web.A Public Company discloses corporate policy on communication with shareholders or investors on the website.

Kebijakan komunikasi perusahaan dengan Pemegang Saham dan investor telah diungkapkan dalam situs web Perseroan.The Company’s communication policy with the Shareholders and investors has been disclosed on the Company’s website.


Aspek 2 : Fungsi dan Peran Dewan Komisaris.Aspect 2: The Board of Commissioners Function and Roles.

Prinsip 3: Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.Principle 3: Enhancing the Membership and Composition of the Board of Commissioners.

3.1 Penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi Perusahaan Terbuka.The number of members of the Board of Commissioners is determined by taking the condition of a Public Company into account.

Jumlah anggota Dewan Komisaris telah sesuai dengan kondisi Perseroan sebagaimana diatur dalam Anggaran Dasar serta Pedoman dan Tata Tertib Kerja Dewan Komisaris.Number of the Board of Commissioners’ members has taken into consideration of Company’s condition as stipulated in the Articles of Association as well as the Board of Commissioners Work Guidelines and Rules.


3.2 Penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan.The composition of the members of the Board of Commissioners is determined by taking account of the diversity skills, knowledge, and experience required.

Pada saat dicalonkan Penilaian Kemampuan dan Kepatutan sebagai Dewan Komisaris, seluruh anggota Dewan Komisaris telah melalui proses assessment oleh Komite Nominasi dan Remunerasi sehingga sudah dinilai memiliki keahlian, pengetahuan, dan pengalaman sesuai dengan kebutuhan Perseroan.At the time of nomination as the Board of Commissioners, all members of the Board of Commissioners has gone through an assessment process conducted by the Remuneration and Nomination Committee thus they are deemed to have the appropriate skills, knowledge, and experience in accordance with the Company’s needs.


Prinsip 4: Meningkatkan Kualitas Pelaksanaan Tugas dan Tanggung Jawab Dewan Komisaris.Principle 4: Improving the Quality of the Implementation of the Board of Commissioners’ Duties and Responsibilities.

4.1 Dewan Komisaris memiliki kebijakan self-assessment untuk menilai kinerja Dewan Komisaris.The Board of Commissioners has self-assessment policy to assess the performance of the Board of Commissioners.

Kebijakan self-assessment untuk menilai kinerja Dewan Komisaris diatur dalam Piagam Komite Nominasi dan Remunerasi dengan mempertimbangkan key performance indicator (KPI) yang telah ditetapkan.The self-assessment policy to evaluate the Board of Commissioners performance has been regulated in the Remuneration and Nomination Committee Charter by taking into consideration of existing Key Performance Indicator.


4.2 Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris telah diungkapkan dalam Laporan Tahunan Perseroan.The self-assessment policy to assess the performance of the Board of Commissioners is disclosed in the Annual Report.

Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Dewan Komisaris telah diungkapkan dalam Laporan Tahunan Perseroan.The self-assessment policy to assess the performance of the Board of Commissioners has been disclosed in the Annual Report.


4.3 Dewan Komisaris memiliki kebijakan terkait pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan.The Board of Commissioners has a policy on the resignation of members of the Board of Commissioners if they were involved in financial crimes.

Kebijakan pengunduran diri anggota Dewan Komisaris, termasuk apabila terlibat dalam kejahatan keuangan, diatur dalam Pasal 21 Anggaran Dasar Perseroan serta Pedoman Tata Tertib Kerja Dewan Komisaris. Pengunduran diri wajib ditindaklanjuti melalui RUPS.The resignation policy of a member of the Board of Commissioners, including if involved in a financial crime, is stipulated in Article 21 of the Articles of Association and the Board of Commissioners Work Guidelines and Rules. Resignation must be followed up by the GMS.




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4.4 Dewan Komisaris atau Komite yang menjalankan fungsi nominasi dan remunerasi menyusun kebijakan suksesi dalam proses nominasi anggota Direksi.The Board of Commissioners or Remuneration and Nomination Committee prepares succession policy for nominating potential members of the Board of Directors.

Komite Nominasi dan Remunerasi telah memiliki kebijakan terkait nominasi anggota Direksi yang diatur dalam Piagam Komite Nominasi dan Remunerasi.The Remuneration and Nomination Committee has a policy regarding the nomination of members of the Board of Directors which is stipulated in the Nomination and Remuneration Committee Charter.


Aspek 3: Fungsi dan Peran Direksi.Aspect 3: The Board of Directors Function and Roles.

Prinsip 5: Memperkuat Keanggotaan dan Komposisi Direksi.Principle 5: Enhancing the Membership and Composition of the Board of Directors.

5.1 Penentuan jumlah anggota Direksi mempertimbangkan kondisi Perusahaan Terbuka serta efektivitas dalam pengambilan keputusan.The number of members of the Board of Directors is determined by taking account of the condition of a Public Company as well as the effectiveness of the decision-making process.

Jumlah anggota Direksi telah sesuai dengan kondisi Perseroan sebagaimana diatur dalam Anggaran Dasar serta Pedoman dan Tata Tertib Kerja Direksi.Number of the Board of Directors’ members has taken into consideration of Company’s condition as stipulated in the Articles of Association as well as the Board of Directors Work Guidelines and Rules.


5.2 Penentuan komposisi anggota Direksi memperhatikan keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan.The composition of members of the Board of Directors is determined by taking account of the diversity of skills, knowledge, and experience required.

Seluruh anggota Direksi Perseroan memiliki keahlian, pengetahuan, dan pengalaman sesuai dengan kebutuhan Perseroan.All of the members of the Board of Directors have the diversity of skills, knowledge and experience in accordance to the Company’s needs.


5.3 Anggota Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/atau pengetahuan di bidang akuntansi.Members of the Board of Directors in charge of accounting or finance have expertise and/or knowledge in accounting.

Johannes Agus, selaku Direktur Keuangan yang bertanggung jawab di bidang keuangan dan administrasi, memiliki latar belakang pendidikan manajemen keuangan, serta memiliki berbagai pengalaman di bidang akuntansi.Johannes Agus, as the Director of Finance in charge of finance and administration, has a financial management background and has various experiences in accounting.


Prinsip 6: Memperkuat Keanggotaan dan Komposisi Direksi.Principle 6: Enhancing the Membership and Composition of the Board of Directors.

6.1 Direksi mempunyai kebijakan self-assessment untuk menilai kinerja Direksi.The Board of Directors has self-assessment policy to assess the performance of the Board of Directors.

Kebijakan self-assessment untuk menilai kinerja Direksi dengan menerapkan metode Balance Scorecard yang dikonversikan menjadi key performance indicator (KPI) yang telah ditetapkan.Self-assessment policy to assess the performance of the Board of Directors by applying the Balance Scorecard method which is converted into a predetermined Key Performance Indicator (KPI).


6.2 Kebijakan self-assessment untuk menilai kinerja Direksi diungkapkan melalui Laporan Tahunan Perusahaan Terbuka.The self-assessment policy to assess the performance of the Board of Directors is disclosed in a Public Company’s Annual Report.

Kebijakan penilaian sendiri (self-assessment) untuk menilai kinerja Direksi telah diungkapkan dalam Laporan Tahunan Perseroan.The self-assessment policy to evaluate the performance of the Board of Directors has been disclosed in the Company’s Annual Report.


6.3 Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan.The Board of Directors has a policy on the resignation of members of the Board of Directors if they were involved in financial crimes.

Kebijakan pengunduran diri anggota Direksi, termasuk apabila terlibat dalam kejahatan keuangan, diatur dalam Pasal 21 Anggaran Dasar Perseroan serta Pedoman Tata Tertib Kerja Direksi. Pengunduran diri wajib ditindaklanjuti melalui RUPS.The resignation policy of a member of the Board of Directors, including if involved in a financial crime, is stipulated in Article 21 of the Articles of Association and the Board of Directors Work Guidelines and Rules. Resignation must be followed up by the GMS.


Aspek 4: Partisipasi Pemangku Kepentingan.Aspect 4: Stakeholders Participation.

Prinsip 7: Meningkatkan Aspek Tata Kelola Perusahaan melalui Partisipasi Pemangku Kepentingan.Principle 7: Improving the Good Corporate Governance Aspect through Stakeholders Participation.





7.1 Perusahaan Terbuka memiliki kebijakan untuk mencegah terjadinya insider trading.A Public Company has a policy to prevent insider trading.

Perseroan memiliki kebijakan untuk mencegah terjadinya insider trading yang diatur dalam Pasal 5 angka 2 Etika dan Tanggung Jawab Profesi.The Company has a policy to prevent insider trading as regulated in Article 5 number 2 of the Professional Ethics and Responsibility.


7.2 Perusahaan Terbuka memiliki kebijakan anti korupsi dan anti-fraud.The Company has anti-corruption and anti-fraudpolicies.

Perseroan memiliki pedoman terkait pencegahan dan penindakan fraud.The Company has a guideline for fraud prevention and handling.


7.3 Perusahaan Terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor.A Public Company has a policy on the selection and capacity improvement of suppliers or vendors.

Perseroan memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor yang diatur dalam standar operasional prosedur (SOP) Departemen General Services tentang Seleksi Supplier/Pemasok dan SOP Departemen Quality Assurance tentang Evaluasi Supplier/Pemasok.The Company has a policy on the selection and increasing the ability of suppliers or vendors as regulated in the SOP of General Services Department regarding the Selection of Supplier and SOP of Quality Assurance Department regarding Supplier Evaluation.


7.4 Perusahaan Terbuka memiliki kebijakan tentang pemenuhan hak-hak kreditur.A Public Company has a policy on the fulfillment of creditors’ rights.

Perseroan telah memiliki kebijakan terkait pemenuhan hak-hak pemegang polis dan/atau tertanggung.The Company already has a policy related to the fulfilment of the rights of the policy holder and/or the insured.


7.5 Perusahaan Terbuka memiliki kebijakan sistem whistleblowing.A Public Company has a whistleblowing system policy.

Perseroan telah memiliki kebijakan sistem pelaporan pelanggaran (whistleblowing system). Pengungkapan pelanggaran dapat disampaikan melalui situs web yang diakses menggunakan user id masing-masing karyawan.The Company already has a whistleblowing system policy. Disclosure of violations can be submitted through a website that can be accessed using the user id of each employee.


7.6 Perusahaan Terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan karyawan.A Public Company has long-term incentive policy for the Board of Directors and employees.

Perseroan mengikutsertakan seluruh karyawan dalam Badan Penyelenggara Jaminan Sosial (BPJS) Ketenagakerjaan Jaminan Pensiun.The Company includes all employees in the Social Security Agency (BPJS) for Employment for Pension Security.


Aspek 5: Keterbukaan Informasi.Aspect 5: Information Disclosure.

Prinsip 8: Meningkatkan Pelaksanaan Keterbukaan Informasi.Princple 8: Improving the Implementation of Information Disclosure.

8.1 Perusahaan Terbuka memanfaatkan penggunaan teknologi informasi secara lebih luas selain situs web sebagai media keterbukaan informasi.A Public Company utilizes a wider information technology other than the corporate website to disclose information.

Informasi mengenai Perseroan dapat diakses melalui berbagai media sosial, seperti YouTube, Instagram, Twitter, dan Facebook.Information about the Company can be accessed through various social media, such as YouTube, Instagram, Twitter and Facebook.


8.2 Laporan Tahunan Perusahaan Terbuka mengungkapkan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka paling sedikit 5%, selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham Perusahaan Terbuka melalui Pemegang Saham Utama dan Pengendali.A Public Company’s Annual Report discloses the final beneficiary of the Company’s shareholders with at least 5% (five percent) shares in addition to the disclosure of the final beneficiary of the Public Company’s Majority and Controlling Shareholders.

Informasi terkait pemilik manfaat terakhir Perseroan diungkapkan pada bagian Pemegang Saham Utama dan Pengendali, bab profil perusahaan dalam Laporan Tahunan ini.Information related to the Company’s final beneficial owner is already disclosed in the Majority and Controlling Shareholders section, the Company Profile chapter in this Annual Report.




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Evaluasi Praktik Tata Kelola PerusahaanEvaluation on the Corporate Governance Practice

Perseroan melaksanakan penilaian penerapan GCG yang berpedoman pada Otoritas Jasa Keuangan No. 73/POJK.05/2016 tentang Tata Kelola Perusahaan yang Baik bagi Perusahaan Perasuransian. Penilaian dilakukan secara berkala untuk mengetahui efektivitas penerapan GCG di Perseroan, serta sebagai bahan evaluasi untuk penerapan GCG pada periode selanjutnya. Penilaian GCG tersebut dilakukan dengan merujuk pada ketentuan terkait Laporan Tata Kelola Perusahaan, Laporan Tingkat Kesehatan Perusahaan Asuransi bagian GCG, serta Penilaian Self-Assessment GCG Terintegrasi yang disusun oleh Otoritas Jasa Keuangan.

Sementara itu, parameter atau indikator yang dijadikan dasar self-assessment GCG Perseroan disajikan dalam tabel berikut.

Parameter atau IndikatorParameter or Indicator

AnalisisAnalysis

Analisis Kekuatan, Kelemahan, Peluang, dan Ancaman / Strength, Weakness, Opportunity, and Threat Analysis

Rencana strategis perusahaan harus didukung dengan persiapan infrastruktur yang memadai, antara lain sumber daya manusia, teknologi informasi, jaringan kantor, serta kebijakan dan prosedur.The Company’s strategic plan must be supported by preparation of adequate infrastructure, i.e. human resources, information technology, office networks, as well as policies and procedures.

Direksi menyusun Rencana Strategis yang termuat dalam Rencana Bisnis dengan memperhatikan seluruh aspek, termasuk mempersiapkan dukungan infrastruktur, seperti sumber daya manusia, teknologi informasi, jaringan kantor, serta kebijakan dan prosedur yang dari waktu ke waktu kapasitas dan kualitasnya ditingkatkan sesuai kebutuhan pengembangan usaha Perseroan.The Board of Directors has prepared the Strategic Plan contained in the Business Plan by taking all aspects into account, including preparing support infrastructures, such as human resources, information technology, office networks, as well as policies and procedures. And they have improved these aspects’ capacity and quality according to the Company’s business development needs from time to time.

Tidak terdapat intervensi Pemegang Saham terhadap pembagian keuangan perusahaan yang dilakukan tanpa memperhatikan upaya pemupukan modal untuk mendukung rencana strategis perusahaan.There is no intervention from the Shareholders on the distribution of Company’s finances that was done without paying attention to the efforts to raise capital to support the Company’s strategic plan.

Tidak ditemukan adanya intervensi Pemegang Saham terhadap pembagian keuangan Perseroan yang dilakukan tanpa memperhatikan upaya pemupukan modal untuk mendukung Rencana Strategis Perseroan.There was no intervention found from the Shareholders on the distribution of Company’s finances that was done without paying attention to the efforts to raise capital to support the Company’s strategic plan.

Pemegang Saham mampu mengatasi kondisi permodalan perusahaan yang memburuk atau permodalan perusahaan kurang dari jumlah yang ditetapkan sesuai ketentuan Otoritas Jasa yang mengatur mengenai ekuitas minimum.The Shareholders manage to overcome deteriorating Company’s capital condition or maintain the Company’s capital above the minimum amount required in the provisions of the Financial Service Authority that regulate the minimum equity.

Sampai saat ini, Direksi dapat mengelola Perseroan dengan menunjukkan kinerja Perseroan dengan hasil yang positif sehingga tidak mengalami permodalan yang memburuk atau permodalan kurang dari jumlah yang ditetapkan sesuai ketentuan Otoritas Jasa yang mengatur mengenai ekuitas minimum.Until now, the Board of Directors can manage the Company properly by posting positive performance and has avoided deteriorating capital or Company’s capital is still above the minimum amount required in the provisions of the Financial Service Authority that regulate the minimum equity.

The Company conducts an assessment on the GCG implementation by referring to the Financial Services Authority Regulation No. 73/POJK.05/2016 on Good Corporate Governance for Insurance Companies. Assessment is carried out periodically to determine the effectiveness of the GCG implementation in the Company, as well as to be used as an evaluation material for the GCG implementation in the next period. The GCG assessment was conducted by referring to the provisions related to the Corporate Governance Report, Report on Insurance Company Soundness Level on the GCG section, as well as the Integrated GCG Self-Assessment Evaluation issued by the Financial Services Authority.

Meanwhile, parameters or indicators used as the basis for the Company’s GCG self-assessment is presented in the following table.


Hasil self-assessment GCG berdasarkan Tingkat Kesehatan Perusahaan Asuransi LippoInsurance tahun 2020 diungkapkan sebagai berikut.

Nilai PeringkatRating

DefinisiDefinition

1 Mencerminkan Manajemen Perseroan telah melakukan penerapan tata kelola perusahaan yang baik yang secara umum sangat baik. Hal ini tercermin dari pemenuhan yang sangat memadai atas prinsip-prinsip tata kelola perusahaan yang baik. Dalam hal terdapat kelemahan dalam penerapan prinsip tata kelola perusahaan yang baik, maka secara umum kelemahan tersebut tidak signifikan dan dapat segera dilakukan perbaikan oleh Manajemen Perseroan.Indicated that the Company’s Management has implemented a very sound good corporate governance in general. This is reflected in the very adequate fulfillment of the good corporate governance principles. If there are weaknesses in the implementation of the good corporate governance principles, it is generally insignificant and can be corrected immediately by the Company’s Management.

AnalisisAnalysis

Struktur Tata KelolaGovernance Structure

Terpenuhinya aspek-aspek struktur tata kelola Perseroan, di mana jumlah anggota Dewan Komisaris dan Direksi sudah memenuhi syarat minimal. Masing-masing anggota Dewan Komisaris dan Direksi memiliki pengetahuan dan pengalaman yang sangat memadai dalam mengurus Perseroan.The Company’s governance structure aspects have been fulfilled, in which the number the Board of Commissioners and the Board of Directors members already met the minimum requirements. Each member of the Board of Commissioners and Board of Directors has very adequate knowledges and experiences in managing the Company.

Proses Tata Kelola Governance Process

Struktur GCG Perseroan mendukung proses tata kelola yang baik mengingat Perseroan memiliki sumber daya dengan kualitas baik. Dengan demikian, unit kerja/satuan kerja, komite-komite di bawah Dewan Komisaris, maupun di bawah Direksi yang sudah dibentuk dapat melaksanakan penerapan tata kelola perusahaan asuransi sesuai kaidah yang seharusnya.The Company’s GCG structure supports the governance process considering that the Company has good quality resources. Therefore, established work units, Committees under the Board of Commissioners and Committees under the Board of Directors can execute the corporate governance implementation for insurance company according to the rules that should be.

Hasil Penerapan Tata Kelola Governance Outcome

Kinerja Perseroan menunjukkan prestasi yang baik. Hal ini tidak terlepas dari GCG yang dilaksanakan Perseroan secara terencana. The Company has shown good performance. This was obviously the result of a well-planned GCG implementation.

Rapat Umum Pemegang SahamGeneral Meeting of Shareholders

Rapat Umum Pemegang Saham (RUPS) merupakan organ tertinggi Perseroan yang wewenangnya tidak dapat diberikan kepada Dewan Komisaris ataupun Direksi. Selain itu, RUPS berfungsi sebagai forum untuk mengambil keputusan dan menentukan arah perusahaan. RUPS terdiri dari RUPS Tahunan yang wajib diselenggarakan 6 bulan setelah berakhirnya tahun buku dan RUPS Luar Biasa yang dapat dilaksanakan sesuai dengan kebutuhan Perseroan.

The result of GCG self-assessment based on the Soundness Level of Insurance Company criteria for LippoInsurance in 2020 is disclosed as follows.

The General Meeting of Shareholders (GMS) is the highest body within the Company with the authority not delegated to the Board of Commissioners or the Board of Directors. In addition, the GMS serves as a forum for making decisions and determining the direction of the Company. The GMS consists of an Annual GMS which must be held 6 months after the end of the financial year and an Extraordinary GMS which can be held according to the Company’s needs.



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Wewenang RUPS

RUPS memiliki wewenang sebagai berikut.1. Mengangkat dan memberhentikan anggota Dewan

Komisaris dan Direksi;2. Menyetujui perubahan Anggaran Dasar Perseroan;3. Menyetujui Laporan Tahunan Perseroan;4. Menunjuk audit eksternal;5. Menentukan penggunaan laba bersih Perseroan;6. Menyetujui penetapan gaji dan tunjangan anggota Dewan

Komisaris dan Direksi;7. Menyetujui dan mengesahkan atau menolak rencana bisnis

yang disusun oleh Direksi dan telah dikaji oleh Dewan Komisaris; serta

8. Menyetujui hal-hal lain sebagaimana diatur dalam Anggaran Dasar Perseroan.

Pelaksanaan RUPS Tahunan 2020

Perseroan telah menyelenggarakan RUPS Tahunan 2020 dengan memperhatikan peraturan perundang-undangan yang berlaku. Informasi terkait penyelenggaraan RUPS tersebut diungkapkan sebagai berikut.

Tahap Pelaksanaan RUPS Tahunan 2020Stages of 2020 AGMS Implementation

PemberitahuanNotification

PengumumanAnnouncement

PanggilanInvitation

PelaksanaanExecution

Hasil RUPSGMS Resolutions

Diberitahukan kepada Otoritas Jasa Keuangan pada 23 Juni 2020.Notified to the Financial Service Authority on June 23rd, 2020.

Diumumkan pada 1 Juli 2020 melalui situs web Perseroan, Bursa Efek Indonesia, dan Kustodian Sentral Efek Indonesia, serta Surat Kabar Harian Investor Daily. Announced on July 1st, 2020 through the Company, the Indonesia Stock Exchange, and the Indonesian Central Custodian’s websites, as well as the Investor Daily Newspaper.

Diumumkan pada 16 Juli 2020 melalui situs web Perseroan, Bursa Efek Indonesia, Kustodian Sentral Efek Indonesia, serta Surat Kabar Harian Investor Daily.Announced on July 16th, 2020 through the Company and Indonesia Stock Exchange’s websites, as well as the Investor Daily Newspaper.

Diselenggarakan pada 7 Agustus 2020 pukul 10.14-11.19 WIB di Ruang Monas 3-4, Aryaduta Hotel Tugu Tani Jakarta, Jl. Prajurit KKO Usman dan Harun No. 44-48, Jakarta Pusat, 10110.Held on August 7th, 2020 at 10.14-11.19 WIB in Monas Room 3-4, Aryaduta Hotel Tugu Tani Jakarta, Jl. Prajurit KKO Usman and Harun No. 44-48, Central Jakarta, 10110.

Ringkasan Rapat dipublikasikan pada 10 Agustus 2020 di situs web Perseroan dan Bursa Efek Indonesia, serta Surat Kabar Harian Investor Daily. Ringkasan Rapat tertuang dalam Akta Berita Acara Rapat Umum Pemegang Saham Tahunan PT Lippo General Insurance Tbk No. 7 yang dibuat oleh Notaris Stephanie Wilamarta, SH.Summary of the Meeting published on August 10th, 2020 on the Company and the Indonesia Stock Exchange’s websites, as well as the Investor Daily Newspaper. The summary of the Meeting is stated in the Deed of the Minutes of the Annual General Meeting of Shareholders of PT Lippo General Insurance Tbk No. 7 made by Notary Stephanie Wilamarta, SH.

The Authority of the GMS

The GMS has the authority as follows.1. Appoint and dismiss members of the Board of

Commissioners and Board of Directors;2. Approve amendment to the Company’s Articles of Association;3. Approve the Company’s Annual Report;4. Appoint external auditor;5. Determine the use of the Company’s net profit;6. Approve the determination of salary and allowances for

members of the Board of Commissioners and Board of Directors;7. Approve and ratify or reject the Business Plan for 1 (one)-year

and 3 (three)-year periods that have been prepared by the Board of Directors and reviewed by the Board of Commissioners; and

8. Approve other matters as stipulated by the Company’s Articles of Association.

2020 Annual General Meeting of Shareholders ImplementationThe Company held the 2020 AGMS with due observance of the prevailing laws and regulations. Information related to the GMS implementation is disclosed as follows.


Peserta RUPS Tahunan 20202020 AGMS Attendance

Pemegang SahamShareholders

RUPS Tahunan dihadiri oleh Pemegang Saham yang mewakili 128.574.675 saham atau 85,72% dari seluruh jumlah saham dengan hak suara sah yang telah dikeluarkan oleh Perseroan.The AGMS was attended by the Shareholders representing 128,574,675 shares or 85.72% of the total number of shares with valid voting rights issued by the Company.

Dewan Komisaris The Board of Commissioners

Presiden Komisaris President Commissioner

Benny Haryanto Djie


Frans Lamury

DireksiThe Board of Directors

Presiden Direktur President Director

Agus Benjamin

DirekturDirector

Johannes Agus

DirekturDirector


Hasil Keputusan RUPS Tahunan 20202020 AGMS Resolutions

Mata Acara 1First Agenda

Agenda KeputusanResolution

Persetujuan dan pengesahan atas Laporan Tahunan Perseroan dan Laporan Keuangan Konsolidasian Perseroan, termasuk Laporan Tugas Pengawasan Dewan Komisaris Perseroan, untuk tahun buku yang berakhir pada 31 Desember 2019 serta memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada seluruh anggota Dewan Komisaris dan Direksi Perseroan atas tindakan pengawasan dan pengurusan yang dilakukan untuk tahun buku yang berakhir pada 31 Desember 2019.Approval and ratification of the Company’s Annual Report and Consolidated Financial Statements including the Board of Commissioners’ Supervisory Report for fiscal year ended on December 31st, 2019 as well as the granting of full acquittal and discharge (acquit et de charge) to all members of the Board of Commissioners and Board of Directors for their supervisory and management actions taken during the fiscal year ended on December 31st, 2019.

1. Menyetujui dan menerima dengan baik Laporan Tahunan Perseroan, termasuk Laporan Tugas Pengawasan Dewan Komisaris Perseroan, untuk tahun buku yang berakhir pada 31 Desember 2019, serta menyetujui Rencana Bisnis Perseroan untuk tahun 2020;

2. Menyetujui dan mengesahkan Laporan Keuangan Konsolidasian yang terdiri dari neraca dan perhitungan laba rugi Perseroan untuk tahun buku yang berakhir pada 31 Desember 2019, yang telah diaudit oleh Kantor Akuntan Publik Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan, dengan pendapat menyajikan secara wajar, dalam semua hal yang material, sebagaimana laporannya melalui Surat No. 00422/2.1133/AU.1/08/0305-1/1/III/2020 tanggal 11 Maret 2020; serta

3. Memberikan pelunasan dan pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada seluruh anggota Dewan Komisaris dan Direksi Perseroan atas tindakan pengurusan dan pengawasan yang telah dilakukan di tahun buku yang berakhir pada 31 Desember 2019 sepanjang tindakan tersebut tercermin dalam Laporan Tahunan.

1. Approved and accepted the Company’s Annual Report including the Board of Commissioners’ Supervisory Report for Fiscal Year ended on December 31st, 2019, as well as approving the Company’s Business Plan for 2020;

2. Approved and ratified the Company’s Consolidated Financial Statements consisting of the Balance Sheet and Statements of Profit or Loss for Fiscal Year ended on December 31st, 2019, which had been audited by Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan Public Accounting Firm with an Unqualified Opinion as stated in the letter No. 00422/2.1133/AU.1/08/0305-1/1/III/2020 dated March 11th, 2020; and

3. Granted full acquittal and discharge (acquit et de charge) to all members of the Board of Commissioners and Board of Directors for their management and supervisory actions taken during Fiscal Year ended on December 31st, 2019, insofar as those actions are reflected on the Annual Report.

Hasil Pemungutan SuaraVoting Result

RealisasiRealization

Setuju : 128.574.675 saham (100%)Agree : 128,574,675 shares (100%)Abstain Abstain : -Tidak SetujuDisagree : -

Telah direalisasikan sepenuhnya.Has been fully realized.



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Mata Acara 2Second Agenda


Penetapan penggunaan laba Perseroan untuk tahun buku yang berakhir pada 31 Desember 2019.Determination of the use of the Company’s net profit for fiscal year ended on December 31st, 2019.

1. Menyetujui keuntungan setelah pajak yang diperoleh Perseroan untuk tahun buku yang berakhir tanggal 31 Desember 2019 sejumlah Rp80 miliar untuk digunakan sebagai berikut.a. Memenuhi ketentuan Pasal 70 juncto Pasal 71 Undang-Undang Perseroan Terbatas

No. 40 tahun 2007 dan Pasal 26 Anggaran Dasar Perseroan, agar menyisihkan laba tahun buku 2019 sebesar Rp1 miliar sebagai tambahan di pos cadangan umum. Dengan demikian, pos cadangan umum menjadi sebesar Rp19 miliar;

b. Membagikan dividen tunai sebesar Rp32,1 miliar atau sebesar 40,12% dari total laba bersih kepada 150 juta saham yang dikeluarkan oleh Perseroan. Dengan demikian, setiap saham akan memperoleh dividen sebesar Rp214,-;

c. Untuk sisa laba tahun buku 2019 setelah dikurangi dividen tunai dan cadangan umum, yaitu sebesar Rp46,9 miliar, ditempatkan sebagai laba ditahan untuk memperkuat posisi keuangan Perseroan dalam mengantisipasi perkembangan perekonomian, khususnya industri asuransi di masa mendatang;

2. Perseroan akan melaksanakan pembayaran dividen tunai dengan melaksanakan ketentuan pemotongan pajak dividen sesuai dengan ketentuan perpajakan yang berlaku; serta

3. Rapat memberi kuasa kepada Direksi Perseroan untuk melakukan semua tindakan yang diperlukan berkaitan dengan pelaksanaan pembagian dividen tunai tersebut termasuk tidak terbatas untuk menentukan waktu, tanggal, dan cara pembayaran dividen tunai tersebut.

1. Approved the use of profit after tax obtained by the Company for fiscal year ended on December 31st, 2019 amounted to Rp80 billion as follows.a. To comply with the provision of article 70 in conjunction with article 71 of Law

No. 40/2007 on Limited Liability Companies and article 26 of the Company’s Articles of Association by setting aside profit in 2019 fiscal year amounting to Rp1 billion as addition to General Reserve. Therefore, the General Reserve amounted to Rp19 billion;

b. To distribute Cash Dividend amounted to Rp32.1 billion or 40.12% of the Net Profit to 150 million shares issued by the Company. Therefore, each share shall receive Dividend amounting to Rp214;

c. Remaining profit in the 2019 fiscal year after deduction for Cash Dividend and General Reserve amounted to Rp46.9 billion to be determined as retained earnings to strengthen the Company’s financial position in anticipating future economic development, particularly in the Insurance Industry;

2. The Company to pay Cash Dividend with deduction for Cash Dividend tax in accordance with the prevailing tax provisions; and

3. The Meeting granted the Board of Directors with the power to undertake all necessary actions relating to the implementation of Cash Dividend payment, including but not limited to determination of the time, date, and procedure for the Cash Dividend payment.







Mata Acara 3Third Agenda


Penunjukan kantor akuntan publik terdaftar yang akan melakukan audit atas buku-buku Perseroan untuk tahun buku yang akan berakhir pada 31 Desember 2020 dan pemberian wewenang kepada Dewan Komisaris Perseroan untuk menetapkan honorarium dan persyaratan lain penunjukan tersebut.Appointment of Registered Public Accounting Firm that will audit the Company’s books for the fiscal year ending on December 31st, 2020 and granting authority to the Board of Commissioners to determine the honorarium and other terms of the appointment.

1. Menunjuk dan menetapkan Kantor Akuntan Publik PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan untuk mengaudit Laporan Keuangan Perseroan tahun buku yang berakhir pada 31 Desember 2020;

2. Memberikan wewenang sepenuhnya kepada Dewan Komisaris dan/atau Direksi untuk menetapkan honorarium dan persyaratan-persyaratan lain yang berkenaan dengan penunjukan akuntan publik tersebut, termasuk menunjuk dan menetapkan honorarium dan persyaratan lainnya bagi kantor akuntan publik pengganti apabila Kantor Akuntan Publik PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan dengan sebab apapun tidak dapat menyelesaikan audit Laporan Keuangan Perseroan tahun buku 2020; dan

3. Melaporkan keputusan rapat ini kepada Otoritas Jasa Keuangan paling lambat 10 hari kerja sejak ditutupnya rapat ini.

1. Appointed and determined PKF–Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan Public Accounting Firm to audit the Company’s financial statements for fiscal year ended on December 31st, 2020;

2. Granted full authority to the Board of Commissioners and/or Board of Directors to determine the honorarium and other requirements related to the appointment of Public Accountant and to appoint and determine substitute Public Accounting Firm in case PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan Public Accounting Firm is unable to complete the audit on the Company’s Financial Statements for 2020 fiscal year for any reason; and

3. Report the resolution of this meeting to FSA no later than 10 work days after the closing of this meeting.





Mata Acara 4Fourth Agenda


Penetapan dan/atau pengangkatan susunan anggota Dewan Komisaris dan Direksi, termasuk Komisaris Independen, serta penetapan gaji/honorarium dan/atau remunerasi lainnya bagi anggota Dewan Komisaris dan Direksi Perseroan.Determination and/or Appointment of members of the Board of Commissioners and/or Board of Directors, including Independent Commissioners as well as determination of honorarium or other remuneration for members of the Board of Commissioners and Board of Directors.

1. Memberikan pembebasan, pemberesan, dan pelepasan tanggung jawab (acquit et de charge) atas perbuatan hukum yang telah dilakukan selama masa jabatan mereka, sekaligus menyetujui pengangkatan dan penetapan susunan anggota Dewan Komisaris dan Direksi baru, dengan susunan sebagai berikut.Dewan Komisaris Presiden Komisaris : Ali Chendra*) Komisaris Independen : Frans Lamury Komisaris Independen : Jamilah Mawira Sungkar Direksi Presiden Direktur : Agus Benjamin Direktur : Johannes Agus

Direktur : Gilbert Deddy Naibaho Untuk masa jabatan terhitung sejak ditutupnya Rapat ini sampai dengan ditutupnya RUPS untuk tahun buku 2022 yang akan diselenggarakan pada tahun 2023 dengan ketentuan RUPS dapat memberhentikan sewaktu-waktu.*) khusus untuk Bapak Ali Chendra, masa jabatan baru berlaku efektif setelah dinyatakan lulus penilaian kemampuan dan kepatutan oleh Otoritas Jasa Keuangan.

1. Granted full acquittal and discharge of responsibilities (acquit et de charge) for legal actions that have been committed during their term of office, as well as approve the appointment and determination of new members of the Board of Commissioners and Board of Directors, with the composition as follows.The Board of CommissionersPresident Commissioner : Ali Chendra*)Independent Commissioner : Frans LamuryIndependent Commissioner : Jamilah Mawira SungkarThe Board of DirectorsPresident Director : Agus BenjaminDirector : Johannes AgusDirector : Gilbert Deddy Naibaho

The term of office commences from the closing of this Meeting until the closing of the GMS for the 2022 financial year which will be held in 2023 with the provision that the GMS can terminate it at any time.

*) specifically for Mr. Ali Chendra, the new term of office will be effective after he has passed the fit and proper test conducted by the Financial Services Authority.



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2. Memberikan wewenang kepada Dewan Komisaris Perseroan untuk menetapkan honorarium, gaji, bonus, dan/atau remunerasi lainnya bagi anggota Dewan Komisaris dan Direksi Perseroan dengan memperhatikan perundang-undangan yang berlaku; serta

3. Memberikan wewenang dan/atau kuasa penuh dengan hak substitusi kepada Direksi Perseroan untuk melakukan segala tindakan yang diperlukan dan/atau disyaratkan sehubungan dengan pengangkatan dan penetapan susunan anggota Dewan Komisaris dan Direksi Perseroan yang baru, termasuk tetapi tidak terbatas untuk menyatakan pengangkatan anggota Dewan Komisaris dan Direksi ke dalam suatu akta notaris tersendiri, menghadap di hadapan notaris, mengajukan serta menandatangani semua permohonan dan dokumen lainnya yang diperlukan sesuai dengan peraturan dan perundang-undangan yang berlaku, termasuk kepada Menteri Hukum dan Hak Asasi Manusia Republik Indonesia terkait dengan perubahan susunan pengurus Perseroan, tanpa terkecuali, serta mengadakan akta penegasan apabila diperlukan karenanya berhak untuk mengajukan permohonan, menandatangani segala surat-surat, dan dokumen yang diperlukan, serta melakukan tindakan lainnya.

2. Granted authority to the Board of Commissioners to determine the honorarium, salary, bonus, and/or other remuneration for members of the Board of Directors and members of the Board of Commissioners by taking into consideration of prevailing laws and regulation; and

3. Granted full authority and power with the right of substitution to the Board of Directors to undertake all necessary actions related to the appointment and determination of the new composition of the Board of Commissioners and Board of Directors, including but not limited to state the appointment of members of the Board of Commissioners and Board of Directors in a separate Notarial Deed, appear before a Notary, submit and sign all applications and other required documents in accordance with applicable laws and regulations, including to the Minister of Law and Human Rights of the Republic of Indonesia in relation to changes in the composition of the Company’s Management, without exception, and enter into a confirmation deed if required therefore the right to submit applications, sign all documents and documents required, and take other actions.





Pelaksanaan RUPS Tahunan 2019

Pada tahun 2019, Perseroan hanya menyelenggarakan RUPS Tahunan pada 15 April 2019. RUPS Tahunan tersebut telah memenuhi kuorum kehadiran serta mengambil keputusan yang sah. Seluruh keputusan dari RUPS Tahunan tersebut juga telah dilaksanakan sepenuhnya oleh Perseroan.

2019 Annual General Meeting of Shareholders Implementation

In 2019, the Company held an Annual GMS on April 15th, 2019. The Annual GMS has met the attendance quorum and produced legitimate resolutions. All resolutions of the Annual GMS have been fully implemented by the Company.



Dewan Komisaris menjalankan tugas dan tanggung jawab dalam mengawasi dan memberikan nasihat terhadap kepengurusan Perseroan yang dijalankan oleh Direksi. Selain itu, Dewan Komisaris bertanggung jawab untuk memastikan pelaksanaan GCG berjalan dengan efektif sesuai dengan peraturan perundang-undangan yang berlaku.

Pedoman Kerja

Perseroan telah memiliki Pedoman dan Tata Tertib Kerja Dewan Komisaris yang disahkan pada 1 Oktober 2015. Pedoman tersebut disusun dan dievaluasi secara berkala untuk menjamin pelaksanaan tugas Dewan Komisaris mengacu pada prinsip-prinsip GCG serta peraturan perundang-undangan yang berlaku di bidang perasuransian dan pasar modal.

Kriteria Keanggotaan

Kriteria calon anggota Dewan Komisaris Perseroan diuraikan sebagai berikut.1. Mempunyai akhlak, moral, dan integritas yang baik;2. Cakap melakukan perbuatan hukum;3. Dalam 5 tahun sebelum pengangkatan dan selama

menjabat:a. Tidak pernah dinyatakan pailit;b. Tidak pernah menjadi anggota Dewan Komisaris

dan/atau anggota Direksi yang dinyatakan bersalah menyebabkan suatu perusahaan dinyatakan pailit;

c. Tidak pernah dihukum karena melakukan tindak pidana yang merugikan keuangan negara dan/atau yang berkaitan dengan sektor keuangan;

d. Tidak pernah menjadi anggota Dewan Komisaris dan/atau anggota Direksi yang selama menjabat;

1) Pernah tidak menyelenggarakan RUPS Tahunan;2) Pertanggungjawabannya sebagai anggota Dewan

Komisaris dan/atau anggota Direksi pernah tidak diterima oleh RUPS atau pernah tidak memberikan pertanggungjawaban sebagai anggota Dewan Komisaris dan/atau anggota Direksi kepada RUPS; dan

3) Pernah menyebabkan perusahaan yang memperoleh izin, persetujuan, atau pendaftaran dari Otoritas Jasa Keuangan tidak memenuhi kewajiban menyampaikan Laporan Tahunan dan/ atau laporan keuangan kepada Otoritas Jasa keuangan;

4. Memiliki komitmen untuk mematuhi peraturan perundang-undangan;

5. Memiliki pengetahuan dan/atau keahlian di bidang yang dibutuhkan Perseroan;

6. Tidak melanggar ketentuan rangkap jabatan sebagaimana diatur dalam peraturan perundang-undangan yang berlaku;

The Board of Commissioners conducts its duties and responsibilities in supervising and providing advice on the management of the Company which is carried out by the Board of Directors. In addition, the Board of Commissioners is responsible for ensuring that GCG implementation runs effectively in accordance with the prevailing laws and regulations.

Work Guidelines

The Company has a Board of Commissioners Work Guidelines and Rules which was approved on October 1st, 2015. These guidelines were prepared and evaluated periodically to ensure the implementation of the duties of the Board of Commissioners refer to the GCG principles as well as the prevailing laws and regulations in the insurance and capital market sectors.

Membership Criteria

The criteria for candidate of the members of Board of Commissioners are described as follows.1. Possess good character, morals, and integrity;2. Competent in performing legal actions;3. In the 5 (five) years before and during office term:

a. Have never been declared bankrupt;b. Have never been members of the Board of Commissioners

and/or Board of Directors held responsible for the bankruptcy of a company;

c. Have never been convicted for criminal offense that inflict losses on the state finance and/or related to the financial sector;

d. Have never been members of Board of Commissioners and/or Board of Directors that during their tenure have ever;1) Have not hold an Annual GMS;2) Given accountability as members of the Board of

Commissioners and/or Board of Directors that was unaccepted by the GMS or failed to give accountability as members of the Board of Commissioners and/or Board of Directors to the GMS; and

3) Caused a company that was granted license, approval, or registration by the Financial Services Authority to fail in fulfilling its responsibility to deliver annual report and/or financial statements to the Financial Services Authority;

4. Possess commitment to complying with laws and regulations;

5. Possess the necessary knowledge and/or skills in the fields relevant to the Company;

6. Never violated the provision for concurrent positions as stipulated in prevailing laws and regulations;



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7. Anggota Dewan Komisaris harus dinyatakan lulus penilaian kemampuan dan kepatutan oleh Otoritas Jasa Keuangan;

8. Anggota Dewan Komisaris memiliki pengetahuan sesuai dengan bidang usaha Perseroan yang relevan dengan jabatannya;

9. Anggota Dewan Komisaris mampu untuk bertindak dengan itikad baik, jujur, dan profesional;

10. Anggota Dewan Komisaris mampu bertindak untuk kepentingan Perseroan dan pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat;

11. Mendahulukan kepentingan Perseroan dan pemegang polis, tertanggung, peserta, dan/atau pihak yang memperoleh manfaat daripada kepentingan pribadi;

12. Anggota Dewan Komisaris mampu mengambil keputusan berdasarkan penilaian independen dan objektif untuk kepentingan Perseroan dan pemegang polis;

13. Anggota Dewan Komisaris mampu menghindarkan penyalahgunaan kewenangannya untuk mendapatkan keuntungan pribadi yang tidak semestinya atau menyebabkan kerugian bagi perusahaan perasuransian;

14. Anggota Dewan Komisaris bukan anggota Dewan Komisaris yang berasal dari pegawai atau pejabat aktif Otoritas Jasa Keuangan; serta

15. Anggota Dewan Komisaris bukan anggota Dewan Komisaris yang berasal dari mantan pegawai atau pejabat Otoritas Jasa Keuangan apabila yang bersangkutan berhenti bekerja dari Otoritas Jasa Keuangan kurang dari 6 bulan.

Komposisi

Sesuai Pedoman dan Tata Tertib Kerja Dewan Komisaris, anggota Dewan Komisaris sekurang-kurangnya berjumlah 3 orang, di mana 2 orang atau separuh dari jumlah anggota tersebut adalah Komisaris Independen. Komposisi Dewan Komisaris Perseroan tahun 2020 diungkapkan dalam tabel berikut.

NamaName

JabatanPosition

Tahun Pertama Kali MenjabatFirst Year in

Office

Dasar Pengangkatan Terakhir Kali

The Latest Basis of Appointment

Masa Akhir JabatanEnd of Office Tenure

Persetujuan Otoritas Jasa Keuangan

Financial Service Authority Approval

Ali Chendra*


2020 Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020 kemudian ditegaskan dengan Akta No. 5 tanggal 5 Februari 2021.Annual GMS Resolution contained in the Deed No. 7 on August 7th, 2020. Subsequently confirmed in Deed No. 5 on February 5th, 2021.

Sampai dengan ditutupnya RUPS Tahunan Perseroan untuk tahun buku 2022 yang diselenggarakan pada tahun 2023.Until the closing of the Annual GMS for 2022 financial year which will be held in 2023.

Keputusan Anggota Dewan Komisioner Otoritas Jasa Keuangan No. Ke-46/NB.11/2021 tanggal 29 Januari 2021.Decision of the Board of Commissioner Member of the Financial Service Authority No. KEP-46/NB.11/2021 dated January 29th, 2021.

7. Board of Commissioners’ members are required to pass the fit and proper test by the Financial Services Authority;

8. Board of Commissioners’ members are required to possess relevant knowledge in line with the Company’s business in accordance with their respective position;

9. Board of Commissioners’ members are required to act in good faith, honestly, and professionally;

10. Board of Commissioners’ members are required to act in the interests of the Company and policy holders, insured, participants, and/or eligible beneficiaries;

11. Members of Board of Commissioners are required to prioritize the interests of the Company and the policy holders, insured, participants, and/or eligible beneficiaries before personal interests;

12. Board of Commissioners’ members are required to make decisions based on independent and objective evaluation in the interests of the Company and policy holders;

13. Board of Commissioners’ members must refrain from abusing their authority to gain personal interests that are improper or harm the Insurance Company;

14. Board of Commissioners’ members are not a member of the Board of Commissioners that came from an active employees or OJK officials; and

15. Members of the Board of Commissioners are not members of the Board of Commissioners who come from former employees or officials of the Financial Services Authority if they resign from the Financial Services Authority for less than 6 months.

Composition

In accordance with the Board of Commissioners Work Guidelines and Rules, there should be at least 3 members of the Board of Commissioners, of which 2 or half of the members are Independent Commissioners. The composition of the Board of Commissioners In 2020 is described in the following table.


NamaName

JabatanPosition


Office






Benny Haryanto Djie**


2014 Keputusan RUPS Tahunan yang termuat dalam Akta No. 47 tanggal 10 Mei 2017.Annual GMS Resolution contained in the Deed No. 47 dated May 10th, 2017.

Sampai dengan ditutupnya RUPS Tahunan Perseroan untuk tahun buku 2019 yang diselenggarakan pada tahun 2020.Until the closing of the Annual GMS for 2019 financial year held in 2020.

Keputusan Anggota Dewan Komisaris Otoritas Jasa Keuangan No. KEP-2714/NB.1/2014 tanggal 9 Oktober 2014.Decision of the Board of Commissioner Member of the Financial Service Authority No. KEP-2714/NB.1/2014 dated October 9th, 2014.

Frans Lamury


2015 Keputusan RUPS Tahunan yang termuat dalam Akta No. 8 tanggal 7 Agustus 2020.Annual GMS Resolution contained in the Deed No. 8 dated August 7th, 2020.


Keputusan Anggota Dewan Komisioner Otoritas Jasa Keuangan No. KEP-444/NB.11/2015 tanggal 7 Agustus 2015.Decision of the Board of Commissioner Member of the Financial Service Authority No. KEP-444/NB.11/2015 dated August 7th, 2015.



2019 Keputusan RUPS Tahunan yang termuat dalam Akta No. 8 tanggal 7 Agustus 2020.Annual GMS Resolution contained in the Deed No. 8 dated August 7th, 2020.


Keputusan Anggota Dewan Komisioner Otoritas Jasa Keuangan No. KEP-591/NB.11/2019 tanggal 15 Oktober 2019.Decision of the Board of Commissioner Member of the Financial Service Authority No. KEP-591/NB.11/2019 dated October 15th, 2019.


** Masa jabatan sebagai Presiden Komisaris berakhir sejak ditutupnya RUPS Tahunan 2020 yang dilaksanakan pada tanggal 7 Agustus 2020.* Appointed based on the Resolution of the General Meeting of Shareholders dated August 7th, 2020 and effective in office pursuant to the Decree of the Fit and Proper Test

from the Financial Services Authority No. KEP-46/NB.11/2021 dated January 29th, 2021.** The term of office as President Commissioner end since the closing of the 2020 Annual GMS held on August 7th, 2020.

Independensi Dewan Komisaris menjalankan tugas dan tanggung jawabnya secara independen dan profesional. Adapun prinsip independensi yang dijalankan oleh Dewan Komisaris terkait pengawasan Perseroan, yaitu:1. Seluruh anggota Dewan Komisaris tidak saling memiliki

hubungan kekeluargaan sampai dengan derajat kedua dengan sesama anggota Dewan Komisaris dan/atau Direksi;

2. Dewan Komisaris telah mengungkapkan kepemilikan sahamnya, baik pada Perseroan maupun pada perusahaan asuransi dan perusahaan lain, yang berkedudukan di dalam dan di luar negeri dalam suatu laporan yang harus diperbaharui setiap tahunnya;

3. Dewan Komisaris tidak mengambil dan/atau menerima keuntungan pribadi dari Perseroan selain remunerasi dan fasilitas lainnya yang ditetapkan oleh RUPS. Dalam memastikan hal tersebut, Dewan Komisaris menugaskan Komite Audit untuk melakukan pemeriksaan dan kesimpulan hasil pemeriksaannya dimuat dalam Laporan Tahunan ini; serta

4. Per 31 Desember 2020, tidak ada kepemilikan saham oleh anggota Dewan Komisaris pada Perseroan.

IndependenceThe Board of Commissioners carries out its duties and responsibilities independently and professionally. The principles of independence carried out by the Board of Commissioners regarding the supervision of the Company, i.e.:1. All members of Board of Commissioners do not have family

relationship up to second degree with other members of the Board of Commissioners and/or Board of Directors;

2. The Board of Commissioners discloses their share ownership, both in the Company, other insurance companies, and other companies in general either in Indonesia or abroad, in a report that shall be updated every year;

3. The Board of Commissioners does not take and/or receive personal gain from the Company aside from the remuneration and other facilities determined by the GMS. To this end, the Board of Commissioners assigns the Audit Committee to conduct audit, the result of which is included in this Annual Report; and

4. As of December 31st, 2020, members of the Board of Commissioners did not own any share in the Company.



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Tugas dan Tanggung Jawab Tugas dan tanggung jawab Dewan Komisaris beserta realisasi program kerjanya pada tahun 2020 dijelaskan sebagai berikut.

Tugas dan Tanggung JawabDuties and Responsibilities

Realisasi Program Kerja 20202020 Work Program Realization

Melakukan pengawasan dan bertanggung jawab atas pengawasan terhadap kebijakan kepengurusan, jalannya pengurusan pada umumnya, baik mengenai Perseroan maupun usaha Perseroan, dan memberi nasihat kepada Direksi.To supervise and be responsible for supervision of the Management policies, the course of management in general, both regarding the Company and the Company’s business, and to provide advice to the Board of Directors.

Melakukan pengawasan terkait upaya pengelolaan dan pengembangan usaha yang dilakukan Direksi melalui Laporan Tugas Pengawasan yang disampaikan dalam RUPS. Selain itu, pemberian nasihat kepada Direksi disampaikan melalui penyelenggaraan rapat gabungan yang dilaksanakan sepanjang tahun 2020.Has performed a supervision on the business management and development activities carried out by the Board of Directors through the Supervisory Task Report submitted at the GMS. In addition, advices to the Board of Directors were provided via joint meetings held throughout 2020.

Mengawasi Direksi dalam menjaga keseimbangan kepentingan pemegang polis/tertanggung, peserta dan/ atau pihak yang berhak memperoleh manfaat. To supervise the Board of Directors in balancing the interests of the policy holders/Insured, participants and/ or eligible beneficiaries.

Melakukan pengawasan terhadap kinerja Direksi, terutama mengenai keseimbangan kepentingan pemegang polis/tertanggung dengan mengevaluasi laporan bulanan Direksi, laporan pertanggungjawaban Direksi yang disampaikan pada saat RUPS, atau secara langsung melalui rapat gabungan.Has performed a supervision on the Board of Directors performance, especially regarding balance of interests of policy holders/Insured by evaluating the Board of Directors’ monthly reports and the Board of Directors’ accountability reports which are conveyed at the GMS, or in person through joint meetings.

Meninjau Laporan Keuangan, Rencana Tahunan, dan Anggaran Perseroan.To review the Company’s Financial Statements, Annual Plans, and Budgets.

Melakukan peninjauan dan penelaahan terhadap Laporan Keuangan, Rencana Tahunan, serta Anggaran Dasar Perseroan yang berkoordinasi dengan Komite Audit. Selanjutnya, memberikan saran dan masukan yang objektif terkait Laporan Keuangan, Rencana Tahunan, serta Anggaran Dasar Perseroan sebelum disampaikan dalam RUPS.Performed a supervision of the Board of Directors performance, especially regarding the balance of interests of policy holders/Insured by evaluating the Board of Directors monthly reports, the accountability report that submitted at the GMS, or directly through joint meetings.

Memastikan kepatuhan Perseroan terhadap hukum dan peraturan yang berkaitan pasar modal dan industri asuransi.Ensuring the Company’s compliance with laws and regulations relating to the capital market and the insurance industry.

Melakukan evaluasi kepada Direksi terkait jalannya kepengurusan Perseroan sepanjang tahun 2020 dan senantiasa memastikan kepatuhan Perseroan terhadap hukum dan peraturan yang berkaitan dengan pasar modal dan industri asuransi.Performed a review the Company’s Financial Statements, Annual Plan, and Articles of Association in a coordination with the Audit Committee. Furthermore, the Board of Commissioners has provided objective suggestions and input regarding the Financial Statements, Annual Plan, and Articles of Association prior to submission at the GMS.

Menyelenggarakan RUPS Tahunan dan RUPS lainnya sesuai kewenangannya sebagaimana diatur dalam perundang-undangan dan Anggaran Dasar Perseroan.To organize the Annual GMS and other GMS in accordance with their respective authorities as stipulated in the laws and regulations as well as the Articles of Association.

Menyelenggarakan RUPS Tahunan 2020 pada 7 Agustus di Ruang Monas 3-4, Aryaduta Hotel Tugu Tani Jakarta, Jl. Prajurit KKO Usman dan Harun No. 44-48, Jakarta Pusat.Held the 2020 Annual GMS on August 7th at Monas Room 3-4, Aryaduta Hotel Tugu Tani Jakarta, Jl. Prajurit KKO Usman and Harun No. 44-48, Central Jakarta.

Membentuk paling kurang Komite Audit, Komite Pemantau Risiko, Komite Nominasi dan Remunerasi, serta Komite Kebijakan Tata Kelola Perusahaan dalam rangka mendukung efektivitas pelaksanaan tugas dan tanggung jawabnya.To establish at least an Audit Committee, Risk Monitoring Committee, Remuneration and Nomination Committee, and Corporate Governance Policy Committee to support the effectiveness of the implementation of its duties and responsibilities.

Dewan Komisaris Perseroan telah membentuk komite pendukung, yaitu:1. Komite Audit yang dibentuk sejak 18 Juli 2018;2. Komite Nominasi dan Remunerasi yang dibentuk sejak 16 Agustus 2019; 3. Komite Pemantau Risiko yang dibentuk sejak 16 Agustus 2019; dan4. Komite Kebijakan Tata Kelola Perusahaan yang dibentuk sejak 15 November 2019.The Board of Commissioners has established several supporting committees, i.e.:1. The Audit Committee was established since July 18th, 2018;2. The Remuneration and Nomination Committee was established since

August 16th, 2019;3. The Risk Monitoring Committee was established since August 16th, 2019; and4. The Corporate Governance Policy Committee was established since November 15th,

2019.

Memastikan bahwa komite-komite yang telah dibentuk menjalankan tugasnya secara efektif.To ensure that the committees that have been established shall carry out their duties effectively.

Memantau dan mengevaluasi kinerja masing-masing komite secara berkala melalui rapat gabungan atau melalui penyampaian laporan kinerja bulanan.Monitored and evaluated the performance of each committee on a regular basis through joint meetings or by submitting monthly performance reports.

Duties and Responsibilities

The Board of Commissioners’ duties and responsibilities and the realization of their work program in 2020 are described as follows.


Rapat

Dewan Komisaris diwajibkan menyelenggarakan rapat paling sedikit 1 kali dalam sebulan. Rapat tersebut dilakukan dengan ketentuan sebagai berikut.1. Paling sedikit 4 kali rapat diantaranya dilakukan dengan

mengundang Direksi; serta2. Paling sedikit 1 kali rapat diantaranya dilakukan dengan

mengundang audit eksternal.

Sepanjang tahun 2020, total rapat yang diselenggarakan Dewan Komisaris Perseroan sebanyak 12 kali, di mana 11 kali merupakan rapat gabungan dengan Direksi, sedangkan 1 kali diantaranya dilaksanakan dengan mengundang audit eksternal. Informasi terkait tingkat kehadiran rapat Dewan Komisaris diungkapkan pada tabel berikut.

NamaName

JabatanPosition

Jumlah RapatNumber of Meeting

Jumlah KehadiranNumber of Attendance

Tingkat KehadiranLevel of Attendance

(%)

Ali Chendra* Presiden KomisarisPresident Commissioner 5 5 100,00

Benny Haryanto Djie** Presiden KomisarisPresident Commissioner 7 7 100,00

Frans Lamury Komisaris IndependenIndependent Commissioner 12 12 100,00

Jamilah Mawira Sungkar Komisaris IndependenIndependent Commissioner 12 12 100,00

* Diangkat berdasarkan Keputusan Rapat Umum Pemegang Saham tanggal 7 Agustus 2020 dan efektif menjabat sesuai Surat Keputusan Penilaian Kemampuan dan Kepatutan Otoritas Jasa Keuangan No. KEP-46/NB.11/2021 per tanggal 29 Januari 2021. Dalam hal ini, hadir dan bertindak sebagai undangan Dewan Komisaris dan/atau Direksi.

** Masa jabatan sebagai Presiden Komisaris berakhir sejak ditutupnya RUPS Tahunan yang dilaksanakan pada tanggal 7 Agustus 2020.* Appointed based on the Resolution of the General Meeting of Shareholders dated August 7th, 2020 and effective in office pursuant to the Decree of the Fit and Proper Test

from the Financial Services Authority No. KEP-46/NB.11/2021 dated January 29th, 2021. In this case, attended and acted as an invitee from the Board of Commissioners and/or Board of Directors.

** The term of office as President Commissioner end since the closing of the 2020 Annual GMS held on August 7th, 2020.

Pengembangan Kompetensi

Informasi terkait pengembangan kompetensi yang diikuti oleh Dewan Komisaris sepanjang tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

Topik Pengembangan KompetensiCompetency

Development Subject

Tempat dan Waktu Venue and Time

PenyelenggaraOrganizer


Training dan Sertifikasi Qualified Risk Governance Professional (QRGP)

Daring melalui Zoom Meeting, 26 Agustus 2020Online via Zoom Meeting, August 26th, 2020

Center for Risk Management and Sustainability (CRMS)

Value of ESG Implementation: Mitigating Risks and Creating Opportunities

Daring melalui Zoom Meeting, 21 September 2020Online via Zoom Meeting, September 21st, 2020


Frans Lamury Komisaris IndependenIndependent Commissioner

Meeting

The Board of Commissioners is required to hold a meeting at least once a month. The meeting was conducted under the following provision.1. Conducted at least 4 meetings that also invites the Board

of Directors; and2. Conducted at least 1 meeting that also invites the external

audit.

Throughout 2020, the Board of Commissioners held 12 meetings, which included 11 joint meetings with the Board of Directors, whereas 1 meeting was conducted by also inviting the external audit. Information regarding the level of attendance of the Board of Commissioners meetings is disclosed in the following table.

Competency Development

Information related to competency development programs attended by The Board of Commissioners throughout 2020 is disclosed on the following table.



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NamaName

JabatanPosition

Topik Pengembangan KompetensiCompetency

Development Subject



6th AAUI International Insurance Seminar

Daring melalui Zoom Meeting, 21 Juli 2020Online via Zoom Meeting, July 21st, 2020


Risk Management Seminar Preparing for to The New Normal

Daring melalui Zoom Meeting, 22 Juli 2020Online via Zoom Meeting, July 22nd, 2020

Indonesian Senior Executives Association (ISEA)



Ensuring Organizational Resilience: COVID-19

Daring melalui Bigmaker, 17 April 2020Online Via Bigmaker, April 17th, 2020


Membangun Budaya Sadar Risiko

Daring melalui Bigmaker, 2 Juni 2020Online via Bigmaker, June 2nd, 2020


Why Board Should Pay Attention to Cybersecurity

Daring melalui Webex Platform, 25 Juni 2020Online via Webex Platform, June 25th, 2020


Panduan Risiko Hukum dan Implikasinya di Organisasi

Daring melalui Zoom Meeting, 7 Juli 2020Online Via Zoom Meeting, July 7th, 2020


Protecting Value Through Legal, Litigation and Reputational Risk Management


Indonesia Risk Management Professional Association (IRMAPA)

Risk Leadership in Uncertain Time



* Diangkat berdasarkan Keputusan Rapat Umum Pemegang Saham tanggal 7 Agustus 2020 dan efektif menjabat sesuai Surat Keputusan Penilaian Kemampuan dan Kepatutan Otoritas Jasa Keuangan No. KEP-46/NB.11/2021 per tanggal 29 Januari 2021. Dalam rangka memenuhi syarat Penilaian Kemampuan dan Kepatutan oleh Otoritas Jasa Keuangan, seseorang/pihak utama yang dicalonkan sebagai anggota Dewan Komisaris harus terlebih dahulu lulus/memiliki sertifikasi Manajemen Risiko.

* Appointed based on the Resolution of the General Meeting of Shareholders dated August 7th, 2020 and effective in office pursuant to the Decree of the Fit and Proper Test from the Financial Services Authority No. KEP-46/NB.11/2021 dated January 29th, 2021. To fulfill the Fit and Proper Test requirements by The Financial Services Authority, a person/main party who is nominated as a member of the Board of Commissioners must passed/have a Risk Management certification beforehand.

Penilaian Kinerja Dewan Komisaris

Prosedur dan Pihak yang Melakukan PenilaianPenilaian kinerja Dewan Komisaris dilakukan melalui penilaian sendiri (self-assessment) oleh anggota Dewan Komisaris serta penilaian secara keseluruhan oleh Komite Nominasi dan Remunerasi dengan mengacu pada pencapaian key performance indicator (KPI) yang telah disetujui oleh masing-masing anggota Dewan Komisaris. Hasil dari penilaian tersebut kemudian dilaporkan kepada Pemegang Saham dalam RUPS, bersamaan dengan penyampaian Laporan Tugas Pengawasan Dewan Komisaris untuk memperoleh pembebasan tugas dan tanggung jawab atas kinerja pada tahun buku yang telah berakhir.

Performance Assessment of the Board of CommissionersAssessment Procedure and the Assessor The Board of Commissioners’ performance assessment is conducted through self-assessment by members of the Board of Commissioners as well as an overall assessment by the Remuneration and Nomination Committee with reference to the achievement of key performance indicators (KPI) that have been approved by each member of the Board of Commissioners. The results of the assessment are then reported to the Shareholders at the GMS, along with the submission of the Board of Commissioners' Supervisory Report to obtain release and discharge from duties and responsibilities for the performance of the ended financial year.


Kriteria Kriteria penilaian kinerja Dewan Komisaris, yaitu:

1. Pelaksanaan fungsi dan tanggung jawab dalam melakukan pengawasan terkait tugas dan tanggung jawab serta kinerja Direksi;

2. Pelaksanaan pengarahan, pengawasan, dan evaluasi terkait pelaksanaan kebijakan strategis Perseroan; serta

3. Pelaksanaan pengawasan atas tindak lanjut dari Direksi atas temuan audit, rekomendasi dari Unit Audit Internal, audit eksternal, dan hasil pengawasan Otoritas Jasa Keuangan.

Hasil PenilaianHasil penilaian kinerja menunjukkan bahwa Dewan Komisaris telah melakukan pengawasan terhadap pengelolaan perusahaan dan penerapan GCG dengan baik. Selain itu, nasihat dan rekomendasi senantiasa disampaikan secara objektif dan profesional kepada Direksi Perseroan.

Penilaian Kinerja Organ Pendukung

Prosedur dan Pihak yang Melakukan PenilaianDewan Komisaris secara berkala melakukan penilaian terhadap Komite Audit, Komite Nominasi dan Remunerasi, Komite Pemantau Risiko, serta Komite Kebijakan Tata Kelola Perusahaan. Penilaian tersebut dilakukan dengan mengacu pada hasil laporan penugasan dan laporan tahunan pelaksanaan kegiatan dari masing-masing komite.

Kriteria Kriteria yang digunakan dalam penilaian kinerja organ pendukung Dewan Komisaris, yaitu:1. Tingkat kehadiran dalam rapat masing-masing komite;2. Realisasi rencana kerja;3. Efektivitas pelaksanaan tugas dan tanggung jawab; serta

4. Kualitas saran dan rekomendasi yang diberikan.

Hasil PenilaianHasil penilaian kinerja menunjukkan bahwa komite-komite tersebut telah melaksanakan perannya sebagai pihak yang membantu Dewan Komisaris dalam memantau dan mengawasi aktivitas operasional Perseroan, sesuai dengan ketentuan peraturan perundang-undangan yang berlaku.

Komisaris Independen

Komisaris Independen merupakan bagian dari Dewan Komisaris yang tidak terafiliasi dengan Pemegang Saham, Dewan Komisaris, Direksi, dan Dewan Pengawas Syariah (DPS), sehingga tidak memiliki hubungan keuangan, keluarga, dan kepemilikan saham atau hubungan lain yang dapat memengaruhi kemampuannya dalam bertindak secara independen. Selain itu, Komisaris Independen berperan untuk

CriteriaThe criteria for assessing the Board of Commissioners performance are:1. Implementation of functions and responsibilities

in supervising the Board of Directors’ duties and responsibilities as well as the performance;

2. Implementation of direction, supervision and evaluation functions related to the implementation of the Company's strategic policies; and

3. Implementation of supervision on follow-up actions by the Board of Directors on audit findings, recommendations from the Internal Audit Unit, external audits, and results of supervision by the Financial Services Authority.

Assessment ResultThe results of the performance assessment showed that the Board of Commissioners has well supervised the Company’s management and GCG implementation. In addition, advice and recommendations are always conveyed objectively and professionally to the Board of Directors.

Performance Assessment of the Supporting Organs

Assessment Procedure and the Assessor The Board of Commissioners periodically evaluates the Audit Committee, the Remuneration and Nomination Committee, the Risk Monitoring Committee, and the Corporate Governance Policy Committee. The assessment is carried out by using the results of the assignment report and the annual report on the implementation of each committee’s activities.

CriteriaThe criteria used in the assessment of the performance of the Board of Commissioners’ supporting organs are:1. Level of attendance at each committee meetings;2. Work plan realization;3. Effectiveness of the implementation of duties and

responsibilities; and4. Quality of advice and recommendations given.

Assessment ResultThe results of the performance assessment showed that the Committees have properly carried out their roles to assist the Board of Commissioners in supervising and monitoring the Company’s operational activities, in accordance with the provisions of applicable laws and regulations.

Independent Commissioner

Independent Commissioners are part of the Board of Commissioners who have no affiliated relations with the Shareholders, Board of Commissioners, Board of Directors, and Sharia Supervisory Board (DPS), so they do not have financial, family, and share ownership or other relationships that may affect their ability to act independently. In addition, Independent Commissioners have a role to maintain the



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menjaga unsur keadilan dalam lingkungan kerja Perseroan, serta membentuk keseimbangan kepentingan Pemegang Saham Mayoritas dan memberikan perlindungan terhadap kepentingan Pemegang Saham Minoritas, termasuk Pemegang Saham Publik dan pemangku kepentingan lainnya. Per 31 Desember 2020, Komisaris Independen Perseroan berjumlah 2 orang.

Kriteria Kriteria Komisaris Independen Perseroan berpedoman pada Peraturan Otoritas Jasa Keuangan No. 73/POJK.05/2016 tentang Tata Kelola Perusahaan yang Baik bagi Perusahaan Perasuransian dan Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 tentang Dewan Komisaris dan Direksi Emiten atau Perusahaan Publik. Uraian mengenai kriteria Komisaris Independen tersebut dijelaskan bersamaan dengan pernyataan independensi dari masing-masing Komisaris Independen pada tabel berikut.

Pernyataan IndependensiDeclaration of Independence Frans Lamury Jamilah Mawira

Sungkar

Tidak mempunyai hubungan afiliasi dengan anggota Dewan Komisaris lainnya, anggota Direksi, anggota Dewan Pengawas Syariah (DPS), Pemegang Saham, atau yang setara pada perusahaan asuransi dan perusahaan asuransi syariah, dalam perusahaan asuransi dan perusahaan asuransi syariah yang sama.Have no affiliation with other members of the Board of Commissioners, Board of Directors, Sharia Supervisory Board, or the Shareholders or the equivalents at Insurance Companies and Sharia Insurance Companies, at the same Insurance Company and Sharia Insurance Company.

√ √

Tidak pernah menjadi anggota Dewan Komisaris, anggota Direksi, anggota DPS, atau menduduki jabatan 1 tingkat di bawah Direksi pada perusahaan asuransi dan perusahaan asuransi syariah yang sama atau perusahaan lain yang memiliki hubungan afiliasi dengan perusahaan asuransi dan perusahaan asuransi syariah tersebut dalam jangka waktu 6 bulan terakhir.Have never been members of Board of Commissioners, Board of Directors, Sharia Supervisory Board, or held position 1 (one) level below the Board of Directors at the same Insurance Company or Sharia Insurance Company or other companies that are affiliated with the said Insurance Company or Sharia Insurance Company within the last 6 (six) months.

√ √

Memahami peraturan perundang-undangan di bidang perasuransian dan peraturan perundang-undangan lain yang relevan.Possess understanding of laws and regulations pertaining to insurance and other relevant laws and regulations.

√ √

Memiliki pengetahuan yang baik mengenai kondisi keuangan perusahaan asuransi dan perusahaan asuransi syariah tempat Komisaris Independen dimaksud menjabat.Possess good knowledge regarding the financial condition of Insurance Company and Sharia Insurance Company where said Independent Commissioner serves.

√ √

Memiliki pengetahuan yang baik mengenai kepentingan pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat.Possess good knowledge regarding the interests of policy holder, insured, participants, and/ or eligible beneficiaries.

√ √

Warga Negara Indonesia.Have Indonesian citizenship. √ √

Berdomisili di Indonesia.Domiciled in Indonesia. √ √

Bukan merupakan orang yang bekerja atau mempunyai wewenang dan tanggung jawab untuk merencanakan, memimpin, mengendalikan, atau mengawasi kegiatan Emiten atau Perusahaan Publik dalam jangka waktu 6 bulan terakhir, kecuali untuk pengangkatan kembali sebagai Komisaris Independen Emiten atau Perusahaan Publik pada periode berikutnya.Have not worked or had authority and responsibility to plan, lead, control, or supervise the activity of Issuer or Public Company within the last 6 (six) months, unless for reappointment as Independent Commissioner of Listed or Public Company for the subsequent period.

√ √

Tidak mempunyai saham, baik langsung maupun tidak langsung, pada Emiten atau Perusahaan Publik.Have no share ownership either directly or indirectly in the Listed or Public Company. √ √

Tidak mempunyai hubungan afiliasi dengan Emiten atau Perusahaan Publik, anggota Dewan Komisaris, anggota Direksi, atau Pemegang Saham Utama Emiten atau Perusahaan Publik.Have no affiliation with the Listed or Public Company, member of Board of Commissioners, Board of Directors, or Majority Shareholder of the Listed or Public Company.

√ √

element of justice in the Company’s work environment, as well as establishing a balance of interests of the Majority Shareholders and provide protection for the interests of Minority Shareholders, including Public Shareholders and other stakeholders. As of December 31st, 2020, there are 2 Independent Commissioners.

CriteriaThe criteria for the Independent Commissioner refer to the Financial Services Authority Regulation No. 73/POJK.05/2016 on Good Corporate Governance for Insurance Companies and the Financial Services Authority Regulation No. 33/POJK.04/2014 on the Board of Commissioners and Directors of Issuers or Public Companies. The description regarding the criteria for Independent Commissioners is described together with the declaration of independence of each Independent Commissioner in the following table.


Pernyataan IndependensiDeclaration of Independence Frans Lamury Jamilah Mawira

Sungkar

Tidak mempunyai hubungan usaha, baik langsung maupun tidak langsung, yang berkaitan dengan kegiatan usaha Emiten atau Perusahaan Publik.Have no business relationship either directly or indirectly with regard to the business activity with the Listed or Public Company.

√ √

Pelaksanaan Tugas Komisaris Independen

Sesuai dengan Pasal 34 ayat (1) Peraturan Otoritas Jasa Keuangan No. 73/POJK.05/2016 tentang Tata Kelola Perusahaan yang Baik bagi Perusahaan Perasuransian, Komisaris Independen memiliki kewajiban untuk membuat Laporan Tahunan perihal pelaksanaan tugas dan tanggung jawab terkait kepentingan perlindungan pemegang polis, tertanggung, atau pihak yang berhak menerima manfaat, baik berupa pelayanan maupun penyelesaian klaim, termasuk laporan mengenai perselisihan yang sedang dalam proses penyelesaian pada badan mediasi, badan arbitrase, atau badan peradilan. Laporan terkait pelaksanaan tugas Komisaris Independen pada tahun 2020 telah diserahkan kepada Otoritas Jasa Keuangan bersamaan dengan Laporan Penerapan GCG dan checklist self-assessment GCG Perseroan.


Direksi bertugas menjalankan kepengurusan Perseroan sesuai dengan Anggaran Dasar. Dalam pelaksanaan tugas dan tanggung jawabnya, masing-masing anggota Direksi memiliki pembagian tugas yang telah ditentukan, namun tetap bertanggung jawab secara kolegial untuk pengambilan keputusan dan kebijakan Perseroan.

Pedoman Kerja

Perseroan telah memiliki Pedoman dan Tata Tertib Kerja Direksi yang disahkan pada 1 Oktober 2015. Pedoman tersebut disusun dan dievaluasi secara berkala agar Direksi memahami peraturan-peraturan terkait tata kerjanya sehingga Perseroan dikelola secara baik dan benar, serta bertindak sesuai dengan prinsip-prinsip GCG.

Kriteria Keanggotaan

Anggota dan calon anggota Direksi harus memenuhi persyaratan berikut.1. Mempunyai akhlak, moral, dan integritas yang baik;2. Cakap melakukan perbuatan hukum;3. Dalam 5 tahun sebelum pengangkatan dan selama menjabat:

a. Tidak pernah dinyatakan pailit;b. Tidak pernah menjadi anggota Dewan Komisaris

dan/atau anggota Direksi yang dinyatakan bersalah menyebabkan suatu perusahaan dinyatakan pailit;

Independent Commissioner’s Duties ImplementationIn accordance with Article 34 paragraph (1) of the Financial Services Authority Regulation No. 73/POJK.05/2016 on Good Corporate Governance for Insurance Companies, Independent Commissioners have the obligation to prepare an Annual Report. This Report covers the implementation of duties and responsibilities related to the protection interests of policy holders, the Insured, or other parties entitled to receive benefits, either in the form of services or settlement of claims, including reports regarding disputes that are in the process of being resolved at mediation agencies, arbitration bodies, or judiciary bodies. Reports related to the implementation of the Independent Commissioners duties in 2020 have been submitted to the Financial Services Authority along with the GCG Implementation Report and GCG self-assessment checklist.

The Board of Directors has a duty of carrying out the management of the Company in accordance with the Articles of Association. In carrying out their duties and responsibilities, each member of the Board of Directors has a predetermined division of duties, but remains collegially responsible for making decisions and policies.

Work Guidelines

The Company has a Board of Directors Work Guidelines and Rules which were approved on October 1st, 2015. These guidelines are prepared and evaluated periodically so the Board of Directors understands the regulations related to its work procedures thus the Company shall be managed properly, and acts in accordance with the GCG principles.

Membership Criteria

Members and candidate for the Board of Directors must meet the following requirements.1. Possess good character, morals, and integrity;2. Competent in performing legal actions;3. In the 5 (five) years before and during office term:

a. Have never been declared bankrupt;b. Have never been members of the Board of Commissioners

and/or Board of Directors held responsible for the bankruptcy of a company;



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c. Tidak pernah dihukum karena melakukan tindak pidana yang merugikan keuangan negara dan/atau yang berkaitan dengan sektor keuangan;

d. Tidak pernah menjadi anggota Dewan Komisaris dan/atau anggota Direksi yang selama menjabat:

1) Pernah tidak menyelenggarakan RUPS Tahunan;2) Pertanggungjawabannya sebagai anggota Direksi

pernah tidak diterima oleh RUPS atau pernah tidak memberikan pertanggungjawaban sebagai anggota Direksi kepada RUPS;

3) Pernah menyebabkan perusahaan yang memperoleh izin, persetujuan, atau pendaftaran dari Otoritas Jasa Keuangan tidak memenuhi kewajiban menyampaikan Laporan Tahunan dan/atau Laporan Keuangan kepada Otoritas Jasa Keuangan;

4. Memiliki pengetahuan sesuai dengan bidang usaha Perseroan yang relevan dengan jabatannya;

5. Memenuhi kriteria sebagai berikut.a. Dinyatakan lulus penilaian kemampuan dan kepatutan;b. Berdomisili di Indonesia;c. Mampu bertindak dengan itikad baik, jujur, dan profesional;d. Mampu bertindak untuk kepentingan Perseroan dan

pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat;

e. Mendahulukan kepentingan Perseroan dan pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat dari pada kepentingan pribadi;

f. Mampu mengambil keputusan berdasarkan penilaian independen dan objektif untuk kepentingan Perseroan dan pemegang polis, tertanggung, peserta, dan/atau pihak yang berhak memperoleh manfaat;

g. Mampu menghindarkan penyalahgunaan kewenangannya untuk mendapatkan keuntungan pribadi yang tidak semestinya atau menyebabkan kerugian bagi Perseroan;

6. Calon anggota Direksi yang akan diangkat bukan berasal dari pegawai atau pejabat aktif Otoritas Jasa Keuangan;

7. Calon anggota Direksi yang diangkat bukan berasal dari mantan pegawai atau pejabat Otoritas Jasa Keuangan apabila yang bersangkutan berhenti bekerja dari Otoritas Jasa Keuangan kurang dari 1 tahun;

8. Calon anggota Direksi yang diangkat tidak diperbolehkan merangkap jabatan pada perusahaan lain kecuali sebagai anggota Dewan Komisaris pada 1 perusahaan perasuransian lain yang memiliki bidang usaha yang berbeda;

9. Presiden Direktur dilarang merangkap jabatan sebagai anggota Dewan Komisaris pada anak perusahaan yang dikendalikan oleh perusahaan perasuransian yang bersangkutan; dan

10. Calon anggota Direksi tidak pernah menjadi anggota Dewan Komisaris dan/atau anggota Direksi yang dinyatakan bersalah atau lalai.

c. Have never been convicted for criminal offense that inflict losses on the state finance and/or related to the financial sector;

d. Have never been members of the Board of Commissioners and/or Board of Directors that during their positions have ever:1) Failed to hold Annual General Meeting of

Shareholders;2) Given accountability as a member of the Board of

Directors that was unaccepted by the GMS or failed to give accountability as members of the Board of Directors to the GMS;

3) Caused a company that was granted license, approval, or registration by the Financial Services Authority to fail in fulfilling its responsibility to deliver annual report and/or financial statements to the Financial Services Authority;

4. Possess the knowledge relevant to the Company’s field of work and their respective position;

5. Meet the following criteria.a. Passed fit and proper test;b. Domiciled in Indonesia;c. Able to act in good faith, honestly and professionally;d. Able to act in the interests of the Company andpolicy

holders, insured, participants, and/or eligible beneficiaries;

e. Prioritize the interests of the Company and policy holder, insured, participants, and/or eligible beneficiaries over personal interests;

f. Able to make decisions based on independent and objective assessment in the interests of the Company and policy holders, insured, participants, and/or eligible beneficiaries;

g. Able to refrain from abusing their authority for personal gains that are inappropriate or inflict lossesto the Company;

6. Prospective members of the Board of Directors are not active employees or OJK officials;

7. Prospective members of the Board of Directors are not former employees or OJK officials if the candidate quit working at the OJK within 1 (one) year;

8. Prospective members of the Board of Directors are not allowed to hold concurrent positions at other companies except as member of Board of Commissioners at 1 (one) other Insurance Company with different line of business;

9. President Director is prohibited from holding concurrent position as member of Board of Commissioners at subsidiaries controlled by the said Insurance Company; and

10. Prospective members of the Board of Directors have never been members of Board of Commissioners or Board of Directors that were found guilty or negligent.


Komposisi

Komposisi Direksi Perseroan tahun 2020 diungkapkan dalam tabel berikut.

NamaName

JabatanPosition


Office






Agus Benjamin


2012 Keputusan RUPS Tahunan yang termuat dalam Akta No. 7 tanggal 7 Agustus 2020.Annual GMS Resolutions contained in the Deed No. 7 on August 7th, 2020.

Sampai dengan ditutupnya RUPS Tahunan Perseroan untuk tahun buku 2022 yang diselenggarakan pada tahun 2023.Until the closing of the Annual GMS for 2022 financial year that will be held in 2023.

Keputusan Ketua Badan Pengawas Pasar Modal dan Lembaga Keuangan No. KEP-309/BL/2012 tanggal 6 Juni 2012.Decree of the Chairman of the Capital Market and Financial Institution Supervisory Board No. KEP-309/BL/2012 dated June 6th, 2012.

Johannes Agus

Direktur Director

2015 Keputusan Dewan Komisioner Otoritas Jasa Keuangan No. KEP-277/NB.11/2015 tanggal 1 Juni 2015.Decision of the Board of Commissioner of the Financial Service Authority No. KEP-277/NB.11/2015 dated June 1st, 2015.


DirekturDirector

Keputusan Dewan Komisioner Otoritas Jasa Keuangan No. KEP-313/NB.11/2015 tanggal 9 Juni 2015.Decision of the Board of Commissioner of the Financial Service Authority No. KEP-313/NB.11/2015 dated June 9th, 2015.

Independensi

Direksi Perseroan berupaya untuk melaksanakan tugas dan tanggung jawabnya secara independen, tanpa adanya intervensi dari pihak manapun. Dalam upaya menjaga prinsip independensi anggota Direksi tersebut, Perseroan menerapkan beberapa ketentuan sebagai berikut.1. Selain badan Perseroan, pihak lain manapun dilarang

melakukan atau campur tangan dalam pengurusan Perseroan;

2. Direktur dilarang melakukan aktivitas yang dapat mengganggu independensinya dalam mengurus Perseroan;

3. Anggota Direksi dilarang saling memiliki hubungan kekeluargaan sampai dengan derajat kedua dengan anggota Dewan Komisaris dan/atau dengan sesama anggota Direksi;

4. Anggota Direksi dilarang menjadi pengurus partai politik dan/atau calon/anggota legislatif; dan

5. Anggota Direksi baik secara sendiri-sendiri atau bersama-sama dilarang memiliki saham melebihi 25% dari modal disetor pada suatu perusahaan lain.

Independence

The Board of Directors strives to carry out their duties and responsibilities independently, without any intervention from any party. In an effort to maintain the principle of independence of the Board of Directors members, the Company implements the following provisions.1. Other parties outside the Company’s bodies are prohibited

from conducting or intervening with the management of the Company;

2. The Board of Directors is prohibited from conducting activities that may affect their independence in managing the Company;

3. Members of the Board of Directors are prohibited from having family relationship up to second degree with other members of the Board of Directors and/or Board of Commissioners;

4. Members of the Board of Directors are prohibited from becoming administrators of political parties and/or legislative members/candidates; and

5. Members of the Board of Directors, either individually or collectively, are prohibited from having more than 25% share ownership of paid-up capital in other companies.

Composition

The composition of the Board of Directors for 2020 is disclosed in the following table.



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Tugas dan Tanggung Jawab

Direksi menjalankan tugas dan tanggung jawab sesuai dengan Anggaran Dasar Perseroan. Masing-masing anggota Direksi memiliki pembagian tugas dan tanggung jawab tersendiri. Pembagian tugas dan tanggung jawab serta realisasi program kerja masing-masing anggota Direksi selama tahun 2020 diuraikan sebagai berikut.

NamaName



Agus Benjamin


Menetapkan dan mengarahkan Perseroan untuk mewujudkan Visi dan Misi, serta Tujuan Bisnis Perseroan.Establishes direction for the Company to realize its Vision, Mission and Business Objectives.

Menetapkan dan mengarahkan aktivitas bisnis Perseroan sesuai dengan Anggaran Dasar dan peraturan perundang-undangan dalam mencapai Visi dan Misi, serta Tujuan Bisnis Perseroan.Has established and gave the direction on the Company’s business activities in accordance with the Articles of Association and prevailing laws and regulations in achieving the Company’s Vision and Mission, as well as the Business Objectives.

Merancang dan menganalisa strategi jangka pendek, jangka menengah, dan jangka panjang untuk mencapai tujuan Perseroan dan kinerja yang optimal, serta mengantisipasi tantangan.Designs and analyzes short-term, medium-term, and longt-erm strategies to achieve the Company’s objectives and optimal performance, and to anticipate challenges.

Merancang dan menganalisa setiap strategi Perseroan, serta melakukan evaluasi setiap laporan pencapaian kinerja masing-masing organ. Memberikan arahan dan masukan terkait efektivitas pelaksanaan tugas dan tanggung jawab sehubungan dengan pencapaian target, termasuk menetapkan langkah-langkah strategis yang perlu dilakukan terkait keberlangsungan kegiatan bisnis dan operasional Perseroan pada kondisi darurat dalam menghadapi pandemi Covid-19 pada tahun 2020.Has designed and analyzed every Company’s strategy, as well as evaluated each report on the performance achievement of each organ. Has provided direction and input regarding the effectiveness of the implementation of his duties and responsibilities related to target achievement, including determining strategic that need to be taken regarding the business and operational continuity of the Company in an emergency situation to face the Covid-19 pandemic in 2020.

Melakukan pengawasan terkait kepatuhan Perseroan dalam menjalankan kegiatan usaha dalam rangka memberikan nilai tambah bagi pemangku kepentingan.To supervises the Company’s compliance in carrying out business activities to provide added value to stakeholders.

Melakukan koordinasi dengan anggota Direksi lainnya dan juga Sekretaris Perusahaan untuk mengawasi dan memastikan setiap kebijakan serta aktivitas operasional yang dilakukan berada pada koridor kepatuhan hukum dan peraturan perundang-undangan yang berlaku.Conducted a coordination with other members of the Board of Directors and also the Corporate Secretary to supervise and ensure that every policy and operational activities remain within the corridor of compliance with applicable laws and regulations.

Bersama dengan anggota Direksi lainnya, menyusun rencana tindakan sesuai strategi yang telah ditetapkan.Together with other Directors, develops action plans and sets the Company’s direction according to the predetermined strategy.

Bersama dengan Direktur Operasional mengawasi dan bertanggung jawab atas kegiatan operasional Perseroan.With the Director of Operational supervise and be responsible for the Company’s operational activities.

Melakukan koordinasi dengan Komite Audit dan Unit Audit Internal dalam mengawasi aktivitas operasional Perseroan, serta mengelola dan memitigasi setiap risiko-risiko yang akan dihadapi Perseroan.Conducted a coordination with the Audit Committee and Internal Audit Unit in supervising the Company’s operational activities, as well as managing and mitigating any risks that will be faced by the Company.

Bertanggung jawab atas pengelolaan manajemen risiko Perseroan.Responsible for the Company’s Risk Management.

Bersama dengan Direktur lainnya, menyusun kebijakan dan menetapkan jumlah cadangan teknis, menyusun budget Perseroan, menyusun rencana bisnis dan rencana korporasi.Together with the other Directors, develops policies and set the amount of technical reserves, prepare the Company’s budget, as well as make Business and Corporate Plans.

Menetapkan kebijakan terkait aktivitas keuangan Perseroan bersama anggota Direksi lainnya, termasuk menetapkan rencana bisnis dan rencana korporasi Perseroan yang disesuaikan dengan kondisi internal Perseroan dan kondisi pasar saat ini.Has established policies related to the Company’s financial activities with other members of the Board of Directors, including determining the Company’s business plans and corporate plans that are adjusted to the Company’s internal conditions and current market conditions.


The Board of Directors carries out its duties and responsibilities in accordance with the Articles of Association. Each member of the Board of Directors has a separate division of duties and responsibilities. The division of duties and responsibilities as well as the work program realization of each member of the Board of Directors during 2020 is described as follows.


NamaName



Johannes Agus

Direktur Keuangan dan AdministrasiDirector of Finance and Administration

Menjaga stabilitas keuangan Perseroan sebagaimana terlihat dalam rasio antara kewajiban dan aset Perseroan.Maintains the Company financial stability as reflected in the Company’s liabilities and assets ratio.

Menjaga stabilitas keuangan Perseroan dengan melakukan kajian terkait rasio keuangan pada Laporan Keuangan Perseroan. Has maintained the Company financial stability by conducting studies related to financial ratios in the Company’s Financial Statements.

Mengawasi dan bertanggung jawab atas seluruh bagian yang di bawah koordinasinya, yaitu Departemen Finance and Accounting, Departemen General Services, Departemen Legal, dan Departemen IT.Supervises and is responsible for all departments under his jurisdiction including Finance & Accounting Department, General Services Department, Legal Department, and IT Department.

Melakukan evaluasi secara rutin kepada masing-masing divisi melalui rapat kerja atau laporan kinerja bulanan.Conducted regular evaluations for each division through work meetings or monthly performance reports.

Memastikan kinerja IT memberikan dukungan teknis terhadap kegiatan operasional, memaksimalkan layanan yang andal kepada nasabah dan karyawan dengan memanfaatkan sistem teknologi dan informatika yang mapan.Ensures that IT performance provides technical support to the operational activities, maximize reliable service to customers and employees to use well established information technology and system.

Sepanjang tahun 2020, Divisi IT mendukung secara penuh kegiatan bisnis dan operasional yang berkaitan dengan peningkatan pelayanan digital kepada para pemangku kepentingan, seperti nasabah, perusahaan pialang asuransi (broker), rumah sakit rekanan, HRD perusahaan nasabah melalui aplikasi eBenefit Health, eBenefit.id, dan iMeditap.In 2020, the IT Division has fully support business and operational activities related to the improvement of digital services to the stakeholders, i.e. customers, insurance brokers, partner hospitals, HRD of customer companies through the eBenefit Health, eBenefit.id, and iMeditap applications.

Bersama Komite Investasi, menyusun dan menerapkan kebijakan investasi.Together with Investment Committee, develops and implements investment policy.

Membentuk dan menerapkan kebijakan investasi terbaru, yaitu Strategi Investasi, disesuaikan dengan kebutuhan Perseroan dan kondisi pasar.Has established and implemented latest investment policies, i.e. Investment Strategies that has been adapted to the Company needs and market conditions.

Memastikan bahwa Laporan Keuangan Perseroan tersedia dan disampaikan tepat waktu kepada Pemegang Saham, regulator/instansi pemerintah, dan pihak internal/eksternal yang terkait dengan kegiatan Perseroan.Ensures that the Company’s financial statements are available in a timely manner for Shareholders, regulators/government agencies, and internal/external parties related to the Company’s activities.

Melakukan koordinasi dengan Sekretaris Perusahaan untuk memastikan Laporan Keuangan, Laporan Tahunan, dan laporan berkala di bidang asuransi dan pasar modal telah disampaikan tepat waktu kepada pemangku kepentingan.Has established a coordination with the Corporate Secretary to ensure that the Financial Statements, Annual Reports and periodic reports in the field of insurance and capital market have been submitted on time to the stakeholders.


Direktur OperasionalDirector of Operation

Mengelola dan menetapkan kebijakan Divisi Claim, Divisi Risk Management, Divisi Customer Care, dan Divisi Central Processing dalam rangka memenuhi kebutuhan bisnis dalam menunjang keberlangsungan usaha Perseroan.Manages and defines policies in Claim Division, Risk Management Division, Customer Care Division, and Central Processing Division to meet the Company’s business needs to support its going concern.

Menerbitkan beberapa kebijakan baru/revisi yang berkenaan dengan penyempurnaan penerimaan dokumen klaim secara elektronik dan mengembangkan platform digital terkait beberapa layanan Perseroan, seperti i-Meditap dan e-benefit.Issued several new/revised policies related to improving receipt of electronic claim documents and developing digital platforms related to several services of the Company, such as i-Meditap and e-benefits.

Memastikan sistem dan prosedur Divisi Claim, Divisi Risk Management, Divisi Customer Care, dan Divisi Central Processing sejalan dengan kebijakan Perseroan serta hukum dan peraturan yang berlaku bagi industri asuransi dalam rangka meningkatkan kinerja Perseroan dan kualitas layanan kepada nasabah.Ensures that the systems and procedures of Claim Division, Risk Management Division, Customer Care Division, and Central Processing Division in line with the Company’s policies as well as laws and regulations applicable to the insurance industry to improve the Company’s performance and the quality of services to customers.

Melakukan koordinasi dengan Unit Audit Internal untuk memastikan setiap sistem dan prosedur pada divisi dan departemen yang dibawahi telah dijalankan dengan baik, termasuk melakukan tinjauan atas sistem dan prosedur sesuai dengan peraturan yang berlaku di industri asuransi.Has a coordination with the Internal Audit Unit to ensure that every system and procedure in the divisions and departments that have been carried out properly, including conducting a review of these systems and procedures in accordance with the prevailing regulations in the insurance industry.



130

NamaName



Melakukan koordinasi dengan Direktur Administrasi dan Keuangan mengembangkan kebijakan yang berkaitan dengan produktivitas, efektivitas, dan efisiensi terkait pengelolaan Perseroan.Has a coordination with Director of Administration and Finance, develop policies related to productivity, effectiveness and efficiency in relation to the Company’s management.

Melakukan penyesuaian dan pengembangan kebijakan dan prosedur yang berkaitan dengan produktivitas, efektivitas, dan efisiensi dalam pengelolaan Perseroan di tengah pandemi Covid-19, termasuk kebijakan terkait penerimaan dokumen klaim asuransi kesehatan secara elektronik (softcopy). Conducted and prepared policies and procedures related with productivity, authority and efficiency in the management of the Company in the midst of the Covid-19 pandemic, including policies related to receiving health insurance claim documents electronically (softcopy).

Mengawasi dan bertanggung jawab atas kegiatan operasional Perseroan.Supervises and is responsible for the Company’s operation activities.

Memastikan bahwa kegiatan operasional telah dilaksanakan sesuai sistem operasional prosedur (SOP) yang berlaku di Perseroan.Has ensured the implementation of operational activities was in accordance with the operational procedures system (SOP) applicable in the Company.

Bertanggung jawab pengelolaan manajemen risiko Perseroan.Responsible for the Company’s Risk Management.

Mengidentifikasi risiko-risiko yang dihadapi Perseroan di sepanjang tahun 2020 sekaligus menyusun langkah-langkah mitigasinya.Has identified the risks faced by the Company throughout 2020 as well as prepared mitigation steps.

Direktur KepatuhanDirector of Compliance

(Fungsi ini dijabat oleh Presiden Direktur)(This function is held by the President Director)

Memastikan terlaksananya tata kelola perusahaan yang baik dan audit internal yang efektif, serta kepatuhan Perseroan terhadap hukum dan peraturan yang berlaku.Ensures the application of good corporate governance, effective internal audit and the Company’s compliance with laws and regulations.

Memastikan penerapan GCG, pengendalian internal, dan manajemen risiko dilaksanakan dengan efektif pada semua unit kerja dan komite-komite yang dibentuk oleh Direksi Perseroan, serta memastikan seluruh kegiatan bisnis dan aktivitas operasional dilaksanakan dengan memperhatikan dan patuh terhadap hukum dan peraturan yang berlaku. Ensured that the implementation of GCG, internal control, and risk management are carried out effectively in all work units and committees formed by the Board of Directors of the Company, as well as ensured that all business activities and operational activities are carried out with due observance and compliance with applicable laws and regulations.

Menerapkan tata kelola perusahaan yang baik dengan mengimplementasikan prinsip kehati-hatian sesuai dengan prospek bisnis dan perkembangan industri asuransi.Implements good corporate governance by implementing principle of prudence in accordance with business prospects and development of the insurance industry.

Merancang, menetapkan, dan meninjau sistem dan prosedur serta kebijakan kepatuhan yang dimiliki oleh Perseroan agar sesuai dan memenuhi dengan ketentuan perundang-undangan. Melakukan identifikasi dan pengawasan serta evaluasi terhadap penerapan tata kelola Perseroan melalui self-assessment untuk selanjutnya dilakukan perbaikan.Has designed, established, and reviewed the compliance systems and procedures as well as compliance policies of the Company according to and complying with statutory provisions. Has identified, supervised, and evaluated the implementation of corporate governance through self-assessment for further improvements.

Rapat

Direksi wajib menyelenggarakan rapat internal paling sedikit 1 kali dalam sebulan. Direksi dapat mengundang pejabat setingkat di bawah Direksi untuk hadir dalam rapat tersebut, apabila diperlukan. Selain itu, setidaknya dalam 4 kali dalam setahun, Direksi diundang untuk mengikuti rapat gabungan dengan Dewan Komisaris.

Meeting

The Board of Directors is required to hold an internal meeting at least once a month. The Board of Directors may invite officials on level under the Board of Directors to attend the meeting, if needed. In addition, at least 4 times a year, the Board of Directors is invited to attend joint meetings with the Board of Commissioners.


Sepanjang tahun 2020, Direksi telah melaksanakan rapat internal sebanyak 47 kali dan rapat gabungan dengan Dewan Komisaris sebanyak 11 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition

Rapat Internal DireksiBoard of Directors Internal Meeting

Rapat Gabungan dengan Dewan Komisaris

Joint Meeting with the Board of Commissioners

Jumlah Rapat

Number of Meeting

Jumlah KehadiranAttendance

Tingkat Kehadiran

(%)Level of

Attendance

Jumlah Rapat

Number of Meeting

Jumlah KehadiranAttendance

Tingkat Kehadiran

(%)Level of

Attendance

Agus Benjamin Presiden DirekturPresident Director 47 47 100,00 11 11 100,00

Johannes Agus DirekturDirector 47 47 100,00 11 11 100,00

Gilbert Deddy Naibaho DirekturDirector 47 47 100,00 11 11 100,00


Informasi terkait pengembangan kompetensi yang diikuti oleh Direksi sepanjang tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

Topik Pengembangan KompetensiCompetency Development

Subject



Agus Benjamin


Leaders' Inspiring Camp Hanoi, Vietnam, 15-18 Januari 2020Hanoi, Vietnam, January 15th-18th, 2020

PT Lippo General Insurance Tbk (Internal)

Kongres AAUI Ke VISixth AAUI Congress

Daring melalui Zoom Meeting, 11 Maret 2020Online via Zoom Meeting, March 11th, 2020


Implementasi Kebijakan Countercyclical Dampak Covid-19 terhadap Operasional Asuransi UmumThe Implementation of Countercyclical Policy for the Impact of Covid-19 on General Insurance Operations

Daring melalui Zoom Meeting, 4 Mei 2020Online via Zoom Meeting, May 4th, 2020


How to Boost Your Sales During The Pandemic



Strategi Investasi di Tengah Pandemi Covid-19Investment Strategy in the Midst of Covid-19 Pandemic

Daring melalui Zoom Meeting, 3 Juni 2020Online via Zoom Meeting, June 3rd, 2020


Sharing Knowledge: Tantangan Industri Asuransi di Era New NormalSharing Knowledge: Challenges of the Insurance Industry in the New Normal Era

Daring melalui Zoom Meeting, 25 Juni 2020Online via Zoom Meeting, June 25th, 2020



Information related to competency development programs participated by the Board of Directors throughout 2020 is disclosed in the following table.

Throughout 2020, the Board of Directors held 47 internal meetings and 11 joint meetings with the Board of Commissioners with attendance levels as follows.



132

NamaName

JabatanPosition


Subject



General Insurance Shifting in the New Normal



Sharing and Discussion "Civil Engineering Completed Risk" (CECR)

Daring melalui Zoom Meeting, 8 Juli 2020Online via Zoom Meeting, July 8th 2020


Executive Series Webinar-Are You Ready for The Future

Daring melalui Zoom Meeting, 9 Juli 2020Online via Zoom Meeting, July 9th, 2020

Munich Re




Pengalaman dalam Pelayanan Peserta JKN dan Saran untuk Kelas Rawat Standar JKNExperience in JKN Participant Services and Advice for JKN Standard In-Patient Classes

Daring melalui Zoom Meeting, 24 Oktober 2020Online via Zoom Meeting, October 24th, 2020

Perhimpunan Ahli Manajemen Jaminan dan Asuransi Kesehatan Indonesia (PAMJAKI)Association of Health Insurance Managers of Indonesia

Chief Finance Officer Virtual Gathering Daring melalui Zoom Meeting, 24 November 2020Online via Zoom Meeting, November 24th, 2020

Asosiasi Asuransi Umum Indonesia (AAUI)

Growing Trees Insurance Daring melalui Zoom Meeting, 2 Desember 2020Online via Zoom Meeting, December 2nd, 2020


Cold Storage Insurance Daring melalui Zoom Meeting, 10 Desember 2020Online via Zoom Meeting, December 10th, 2020


Johannes Agus

DirekturDirector



Strategi Investasi di Tengah Pandemi Covid-19

Daring melalui Zoom Meeting, 3 Juni 2020Online via Zoom Meeting, June 3rd, 2020


General Insurance Shifting in The New Normal






Excellent Service in The New Normal Daring melalui Zoom Meeting, 29 Juli 2020Online via Zoom Meeting, July 29th, 2020

Asosiasi Ahli Manajemen Asuransi Indonesia (AMMAI)

Chief Finance Officer Virtual Gathering Daring melalui Zoom Meeting, 24 November 2020Online via Zoom Meeting, November 24th, 2020



NamaName

JabatanPosition


Subject







Pengelolaan Risiko Sistem Informasi dan Tantangannya untuk Lembaga PublikInformation System Risk Management and its Challenges for Public Institutions

Daring melalui Zoom Meeting, 16 Desember 2020Online via Zoom Meeting, December 16th, 2020



DirekturDirector



Executive Series Webinar-Are You Ready for The Future

Online melalui Zoom Meeting, 9 Juli 2020Online via Zoom, July 9th, 2020

Munich Re




Leveraging Technology to Streamline Response in New Normal





AAUI Reconnect 2020-Navigate The New Insurance Landscape



Penilaian Kinerja Direksi

Prosedur dan Pihak yang Melakukan PenilaianProsedur penilaian kinerja Direksi dilakukan melalui penilaian diri oleh Direksi dengan berlandaskan pada Pedoman dan Tata Tertib Kerja Direksi serta penilaian yang dilakukan secara umum oleh Dewan Komisaris bersama Komite Nominasi dan Remunerasi berdasarkan pencapaian pelaksanaan fungsi dan tugas Direksi Perseroan dengan mengacu kepada key performance indicator (KPI) yang telah ditentukan dan disetujui oleh masing-masing anggota Direksi.

Performance Assessment of the Board of DirectorsAssessment Procedure and the Assessor The Board of Directors performance assessment is conducted through self-assessment by members of the Board of Directors with reference to the Board of Directors Work Guidelines and Rules as well as the general assessment carried out by the Board of Commissioners with the Remuneration and Nomination Committee based on the achievement of the implementation of the Board of Directors functions and duties with reference to the predetermined key performance indicators (KPI) that have been approved by each member of the Board of Directors.



134

Kriteria Kriteria yang digunakan dalam penilaian kinerja Direksi, yaitu:1. Kriteria yang telah disepakati Direksi serta Komite

Nominasi dan Remunerasi di awal tahun buku (Rencana Kerja dan Anggaran Tahunan) maupun di awal periode jabatan (Rencana Jangka Panjang Perseroan);

2. Tingkat kehadiran dalam rapat internal dan rapat gabungan dengan Dewan Komisaris;

3. Pencapaian pelaksanaan tugas dan tanggung jawab;

4. Kepatuhan terhadap perundang-undangan yang berlaku serta kebijakan Perseroan; dan

5. Komitmen dalam penerapan prinsip-prinsip GCG di Perseroan.

Hasil PenilaianHasil penilaian kinerja menunjukkan bahwa Direksi Perseroan telah melaksanakan tugas dan tanggung jawabnya dengan baik dan efektif, sesuai dengan perundang-undangan yang berlaku, Anggaran Dasar, dan prinsip-prinsip GCG. Hasil penilaian tersebut juga tercermin dalam pencapaian kinerja Direksi, diantaranya pengelolaan aktivitas operasional dan keuangan yang berjalan efektif, sehingga dapat mempertahankan nilai Perseroan bagi Pemegang Saham. Selain itu, Direksi telah menyusun Laporan Keuangan untuk tahun buku 2020, menetapkan Rencana Kerja dan Anggaran Tahunan, Rencana Jangka Panjang Perseroan, serta memastikan sistem pengendalian internal, sistem manajemen risiko, dan penerapan tata kelola perusahaan terlaksana dengan baik, tanpa mengakibatkan kerugian terhadap Perseroan.

Penilaian Kinerja Organ Pendukung

Prosedur dan Pihak yang Melakukan PenilaianDirektur Perseroan secara berkala melakukan penilaian terhadap organ pendukung sesuai dengan pencapaian pelaksanaan tugas dan tanggung jawabnya. Penilaian tersebut dilakukan setiap akhir tahun buku.

Kriteria Kriteria yang digunakan dalam penilaian kinerja, yaitu realisasi tugas masing-masing organ, serta tingkat kehadiran dalam rapat internal.

Hasil PenilaianPenilaian kinerja organ pendukung Direksi tahun buku 2020 menunjukkan hasil yang baik. Masing-masing organ dapat mencapai kinerja sesuai dengan tugas dan tanggung jawabnya yang direalisasikan sebagai berikut.1. Komite Investasi Melaksanakan tugas dan tanggung jawab dengan

menetapkan dan merumuskan kebijakan terkait investasi Perseroan sesuai dengan perundang-undangan yang berlaku. Selain itu, melakukan penyesuaian kebijakan investasi yang memperhatikan dan sejalan dengan kebutuhan kegiatan operasional serta perkembangan Perseroan dan pasar secara berkala.

CriteriaThe criteria for assessing the Board of Directors performance are:1. Criteria that have been agreed upon by the Board

of Directors and the Remuneration and Nomination Committee at the beginning of the financial year (Annual Work Plan and Budget) and at the beginning of the term of office (Long-Term Plan);

2. Level of attendance in internal meetings and joint meetings with the Board of Commissioners;

3. Achievement of the implementation of duties and responsibilities;

4. Compliance with applicable laws and regulations as well as Company policies; and

5. Commitment to the application of GCG principles in the Company.

Assessment ResultThe performance assessment indicated that the Board of Directors has carried out their duties and responsibilities properly and effectively, in accordance with the prevailing laws and regulations, the Articles of Association, and the GCG principles. The results of the assessment are also reflected in the Board of Directors performance achievements, among others an effective management of operational and financial activities, thus maintaining the Company’s value for the Shareholders. In addition, the Board of Directors has prepared a Financial Statements for the 2020 financial year, established an Annual Work Plan and Budget, a Long-Term Plan, and ensured that the internal control system, risk management system, and implementation of corporate governance are carried out properly, without causing harm to the Company.

Performance Assessment of the Supporting Organs

Assessment Procedure and the Assessor The Board of Director periodically assesses the supporting organs in accordance with the achievement of the implementation of their duties and responsibilities. The assessment is carried out at the end of each financial year.

CriteriaThe criteria used in the performance assessment are the realization of the duties of each organ, as well as the level of attendance at internal meetings.

Assessment ResultThe performance assessment of the supporting organs under the Board of Directors for the 2020 financial year showed good results. Each organ managed to achieve performance in accordance with its duties and responsibilities which are realized as follows.1. Investment Committee Has carried out their duties and responsibilities by

establishing and preparing policies related to the Company's investment in accordance with the prevailing laws and regulations. In addition, making adjustments to investment policies that take into account and are in line with the needs of operational activities as well as the Company and market developments on a regular basis.


2. Komite Pengembangan Produk Melaksanakan tugas dan tanggung jawab menyusun

berbagai rencana strategis pengembangan dan pengajuan izin serta pemasaran produk asuransi di tahun 2020 yang disesuaikan dengan kebutuhan nasabah dan pengembangan bisnis Perseroan.

3. Komite Medis Melaksanakan tugas dan tanggung jawab dalam

memberikan rekomendasi seputar medis sesuai dengan disiplin ilmu medis dan kedokteran terkait pelayanan dan produk asuransi kesehatan.

4. Komite APU PPT Melaksanakan tugas dan tanggung jawab dengan

memberikan rekomendasi kepada Direksi guna menunjang aktivitas operasional, terutama pada pelaksanaan Program Anti Pencucian Uang (APU) dan Program Pencegahan Terorisme (PPT).

5. Komite Anti Fraud Melaksanakan tugas dan tanggung jawab dengan

memberikan rekomendasi yang profesional kepada Direksi guna menunjang aktivitas operasional, terutama terkait penerapan strategi anti fraud di Perseroan.

6. Komite Penanganan Pengaduan Konsumen Melaksanakan tugas dan tanggung jawab dengan

memberikan rekomendasi yang profesional kepada Direksi guna menunjang aktivitas operasional, terutama perihal pengelolaan pengaduan nasabah/konsumen.

Selain komite pendukung, Direksi Perseroan, melalui Direktur Kepatuhan, melakukan penilaian terhadap Sekretaris Perusahaan dan Unit Audit Internal yang membantu dalam mengelola Perseroan. Penilaian tersebut menunjukkan hasil yang baik dan efektif dengan realisasi sebagai berikut.

1. Sekretaris Perusahaan Melaksanakan tugas dan tanggung jawab sebagai

penghubung antara Perseroan dengan seluruh pemangku kepentingan, sehingga informasi terkait Perseroan dapat diterima tepat waktu. Selain itu, Sekretaris Perusahaan membantu dalam pelaksanaan penerapan GCG.

2. Unit Audit Internal Mengawasi dan mengevaluasi pada penerapan sistem

pengendalian internal, sistem manajemen risiko, serta penerapan tata kelola perusahaan di seluruh unit kerja Perseroan. Selain itu, Unit Audit Internal juga telah melaksanakan kegiatan audit sesuai dengan perintah Presiden Direktur berkoordinasi dengan Komite Audit.

2. Product Development Committee Has carried out their duties and responsibilities by preparing

various strategic plans related to the development and application of licenses as well as marketing of insurance products in 2020 that tailored customers needs of and the Company’s business development.

3. Medical Committee Has conducted its duties and responsibilities in providing

medical recommendations in accordance with medical science disciplines related to health insurance services and products.

4. AML-CFT Committee Has conducted its duties and responsibilities by providing

recommendations to the Board of Directors to support operational activities, especially on the implementation of the Anti Money Laundering Program (APU) and Combating the Financing of Terrorism Program (PPT).

5. Anti-Fraud Committee Has conducted its duties and responsibilities by providing

professional recommendations to the Board of Directors to support operational activities, especially related to the implementation of an anti-fraud strategy in the Company.

6. Consumer Complaint Handling Committee Has conducted its duties and responsibilities by providing

professional recommendations to the Board of Directors to support operational activities, especially on the management of customer/consumer complaints.

In addition to the supporting committees, the Board of Directors, through the Director of Compliance, also make an assessment on the Corporate Secretary and Internal Audit Unit who assist in managing the Company. The assessment showed good and effective results with the following realizations.

1. Corporate Secretary Has carried out his duties and responsibilities as a liaison

between the Company and all stakeholders, so information related to the Company can be received on time. In addition, the Corporate Secretary also assists in the GCG implementation.

2. Internal Audit Unit Has supervised and evaluated the implementation of the

internal control system, risk management system, as well as the implementation of corporate governance in all work units. In addition, the Internal Audit Unit has also carried out audit activities following the direction from the President Director in coordination with the Audit Committee.



136

Remunerasi Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Remuneration

Penetapan remunerasi Dewan Komisaris dan Direksi disahkan dalam RUPS Tahunan yang berpedoman pada:

1. Pedoman Remunerasi Perseroan;2. Hasil evaluasi sesuai sistem remunerasi yang berlaku di

Perseroan; serta3. Memperhatikan pencapaian kinerja Perseroan yang

memiliki orientasi pada pay for performance.

Pada tahun 2020, total remunerasi yang diberikan kepada Dewan Komisaris dan Direksi sebesar Rp12,4 miliar.

Hubungan Afiliasi Dewan Komisaris dan DireksiBoard of Commissioners and Board of Directors Afiliated Relationship

Pada tahun 2020, seluruh Dewan Komisaris dan Direksi tidak memiliki hubungan keuangan, kepemilikan saham, dan/atau hubungan keluarga dengan anggota Dewan Komisaris, anggota Direksi dan/atau Pemegang Saham Pengendali sehingga seluruh anggota Dewan Komisaris dan anggota Direksi dapat menjalankan tugas dan tanggung jawabnya secara independen. Hubungan afiliasi tersebut diungkapkan dalam tabel berikut.

NamaName

JabatanPosition

Hubungan Keuangan Financial Relationship

Hubungan KeluargaFamily Relationship

Dewan KomisarisBoard of

Commissioners


Pemegang Saham

PengendaliControlling

Shareholders


Commissioners


Pemegang Saham


Shareholders

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No


- √ - √ - √ - √ - √ - √

Benny Haryanto Djie**


- √ - √ - √ - √ - √ - √

Frans Lamury Komisaris IndependenIndependent Commissioner

- √ - √ - √ - √ - √ - √



- √ - √ - √ - √ - √ - √

Agus Benjamin Presiden DirekturPresident Director - √ - √ - √ - √ - √ - √

In 2020, all members of the Board of Commissioners and Directors have no financial, share ownership and/or family relationship with members of the Board of Commissioners, members of the Board of Directors and/or Controlling Shareholders so that all members of the Board of Commissioners and Board of Directors can carry out their duties and responsibilities independently. These affiliation relationships are disclosed in the following table.

The determining of the Board of Commissioners and the Board of Directors remuneration is approved in of the Annual GMS which refers to:1. The Company's Remuneration Guidelines;2. The results of the evaluation is in accordance with the

remuneration system applicable in the Company; and3. Paying attention to the achievement of the Company's

performance which is pay-for-performance oriented.

In 2020, the total remuneration provided to the Board of Commissioners and Board of Directors was amounted to Rp12.4 billion.


NamaName

JabatanPosition

Hubungan Keuangan Financial Relationship

Hubungan KeluargaFamily Relationship


Commissioners


Pemegang Saham


Shareholders


Commissioners


Pemegang Saham


Shareholders

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Ya / Yes

Tidak / No

Johannes Agus DirekturDirector

- √ - √ - √ - √ - √ - √


DirekturDirector

- √ - √ - √ - √ - √ - √


** Masa jabatan sebagai Presiden Komisaris berakhir sejak ditutupnya RUPS Tahunan yang dilaksanakan pada tanggal 7 Agustus 2020.* Appointed based on the Resolution of the General Meeting of Shareholders dated August 7th, 2020 and effective in office pursuant to the Decree of the Fit and Proper

Test from the Financial Services Authority No. KEP-46/NB.11/2021 dated January 29th, 2021.** The term of office as President Commissioner end since the closing of the 2020 Annual GMS held on August 7th, 2020.

Komite di Bawah Dewan KomisarisCommittee Under the Board of Commissioners

Dewan Komisaris melaksanakan pengawasan atas pengelolaan perusahaan dibantu oleh komite-komite yang dibentuk berdasarkan peraturan perundang-undangan yang berlaku. Komite tersebut, yaitu:1. Komite Audit;2. Komite Nominasi dan Remunerasi;3. Komite Pemantau Risiko; dan 4. Komite Kebijakan Tata Kelola Perusahaan.

Komite Audit

Komite Audit merupakan organ pendukung yang membantu pelaksanaan tugas dan fungsi Dewan Komisaris dalam memenuhi tanggung jawabnya sebagai pengawas jalannya Perseroan. Pengawasan yang dilakukan Komite Audit mencakup efektivitas sistem pengendalian internal, audit internal, dan proses pelaporan keuangan.

Pedoman Kerja

Komite Audit memiliki Piagam Komite Audit yang diperbarui dan disahkan pada 1 November 2019. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Audit telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

In performing its duties to supervise the Company’s management, the Board of Commissioners is assisted by Committees established based on the prevailing laws and regulations. These Committees are:1. Audit Committee;2. The Remuneration and Nomination Committee;3. Risk Monitoring Committee; and4. Corporate Governance Policy Committee.

Audit Committee

The Audit Committee is a supporting organ that assists the implementation of the duties and functions of the Board of Commissioners in fulfilling its responsibilities as supervisors of the Company’s management. The supervision carried out by the Audit Committee covers the effectiveness of the internal control system, internal audit, and the financial reporting process.

Work Guidelines

The Audit Committee has an Audit Committee Charter which was updated and ratified on November 1st, 2019. The charter was prepared to ensure that the implementation of the Audit Committee's duties is in accordance with the GCG principles and the prevailing laws and regulations.



138

Komposisi

Komposisi Komite Audit Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

KualifikasiQualification


Frans Lamury KetuaChairman

Underwriting, Manajemen, dan Teknik AsuransiUnderwriting, Management, and Insurance Technical

2018-2020 : Surat Keputusan Dewan Komisaris tanggal 18 Juli 2018.

2018-2020 : Board of Commissioners Decree dated July 18th, 2018.

Liu Raymond AnggotaMember

TeknikTechnical

Karnadi Nawawi AnggotaMember

TeknikTechnical

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Nominasi dan Remunerasi mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Nominasi dan Remunerasi yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Nominasi dan Remunerasi juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab beserta realisasi program kerja selama tahun 2020 dijelaskan sebagai berikut.



Memberikan rekomendasi mengenai penyempurnaan sistem pengendalian internal dan memastikan pengendalian internal berjalan dengan baik. Providing recommendations regarding the improvement of the internal control system and ensuring internal control is carried out properly.

Melakukan kerja sama dengan Unit Audit Internal dalam mengawasi pelaksanaan audit di masing-masing unit bisnis secara profesional dan objektif. Hasil dari pengawasan tersebut ditelaah kemudian disampaikan kepada Dewan Komisaris untuk dilakukan perbaikan seperlunya pada penerapan sistem pengendalian internal dan sistem manajemen risiko di seluruh aktivitas operasional Perseroan. Performed a cooperation with the Internal Audit Unit in supervising the implementation of audits in each business unit in a professional and objective manner. The results of this supervision were reviewed and then submitted to the Board of Commissioners to make improvements as necessary on the implementation of the internal control system and risk management system in all Company’s operational activities.

Composition

The composition of the Audit Committee as of December 31st, 2020 is disclosed in the following table.

Independence

In carrying out its duties and responsibilities, the Audit Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Audit Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the Audit Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles and practices, of sound insurance business operation; as well as the Company’s policies that may be established during the implementation of the Committee’s duties and responsibilities.


The Audit Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.




Memastikan pelaksanaan audit internal maupun audit independen/eksternal dilaksanakan sesuai dengan standar audit yang berlaku.Ensures the execution of internal audits and independent/external audits are in accordance with applicable auditing standards.

Melakukan penelaahan atas aspek kuantitatif, kualitatif, serta integritas pelaksanaan pembukuan, audit, dan yang mencakup kesesuaian pelaksanaan audit, kecukupan waktu pekerjaan lapangan, pengkajian cakupan jasa dan kecukupan uji petik, serta rekomendasi perbaikan.Have performed a review on the quantitative, qualitative, and integrity aspects of the implementation of bookkeeping activity, auditing, and that includes the suitability of the audit implementation, adequacy of time to perform the field work, review the scope of service and adequacy of sampling, as well as recommendations for improvement.

Menilai pelaksanaan kegiatan serta hasil audit yang dilaksanakan oleh auditor internal maupun auditor independen/eksternal.Assesses the implementation of audit activities and results of audits carried out by internal auditors and independent/external auditors.

Mengevaluasi pelaksanaan kegiatan dan hasil audit, dengan cara:1. Melakukan peninjauan terhadap perencanaan audit dan kecukupan program audit,

serta memantau pelaksanaan audit di lapangan;2. Memantau pembahasan temuan audit yang dilakukan oleh auditor internal dengan

manajemen dan hal penting lainnya yang perlu mendapatkan perhatian, jika ada, harus disampaikan kepada Dewan Komisaris secara tertulis;

3. Memastikan agar audit internal melakukan komunikasi terkait hal-hal penting, seperti tingkat tanggung jawab audit terhadap pengendalian internal dalam penyajian laporan keuangan, perubahan kebijakan akuntansi yang signifikan, kelemahan signifikan dalam desain, penerapan pengendalian internal, hambatan dalam pelaksanaan audit, dan lain sebagainya; dan

4. Menilai jasa audit dari Kantor Akuntan Publik PKF Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan dan Rekan telah berjalan dengan independen dan objektif, serta rekomendasi perbaikan yang diberikan oleh auditor eksternal tersebut memberikan nilai tambah yang membangun bagi Perseroan.

Performed an evaluation on the implementation of audit activities and results, by:1. Reviewing the audit plan and the adequacy of the audit program, as well as

monitoring the implementation of audits in the field;2. Monitor the discussion of audit findings conducted by the internal auditors with

the Management and other important matters that need attention, if any, must be submitted to the Board of Commissioners in writing;

3. Ensuring that internal audit communicates important matters, such as the level of audit responsibility for internal control in the presentation of financial statements, significant changes in accounting policies, significant weaknesses in design, application of internal control, obstacles in conducting audits, and so on; and

4. Assessing whether audit services provided by PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan and Partners Public Accounting Firm have been conducted independently and objectively, as well as whether recommendations for improvement given by the external auditor has provided constructive added value for the Company.

Melakukan penelaahan atas perencanaan, pelaksanaan tindakan perbaikan dan mengawasi pelaksanaan tindak lanjut oleh Direksi atas temuan Auditor Internal, auditor eksternal ataupun rekomendasi regulator.Conducts a review on the planning and implementation of corrective actions, and supervise any follow up actions made by the Board of Directors on findings of the Internal Auditor, external auditor or regulatory recommendations.

Melakukan penelaahan atas perencanaan dan pelaksanaan tindakan perbaikan, serta memastikan Direksi Perseroan beserta organ pendukung melakukan tindak lanjut atas hasil audit yang telah dilakukan, dengan menyusun berbagai langkah perbaikan sesuai dengan hasil temuan. Has performed a review on the planning and implementation of corrective actions, as well ensuring that the Board of Directors and its supporting organs have follow up on the audit results by preparing various corrective measures in accordance with the findings.

Melakukan penelaahan atas ketaatan Perseroan terhadap peraturan perundang-undangan yang berhubungan dengan aktivitas usaha dan operasional Perseroan.Reviews compliance with applicable laws and regulations relating to the Company’s business and operational activities.

Melakukan pemantauan untuk memastikan bahwa aktivitas operasional Perseroan telah dijalankan sesuai dengan peraturan perundang-undangan yang berlaku di bidang pasar modal dan peraturan lainnya, dengan cara:1. Memastikan bahwa manajemen memberikan pernyataan tertulis terkait

pertanggungjawaban kepatuhan Perseroan terhadap peraturan perundang-undangan yang dikelola;

2. Melakukan evaluasi atas laporan manajemen atau penasihat hukum Perseroan yang berkaitan dengan peraturan perundang-undangan yang berlaku;

3. Mengevaluasi atas temuan atau hasil pemeriksaan yang dilakukan oleh badan regulasi, audit independen, dan audit internal; serta

4. Memperluas evaluasi dan melakukan investigasi terhadap peraturan perundang-undangan yang berkaitan dengan bisnis Perseroan untuk menentukan besaran risiko yang akan muncul.

Conducted a monitoring process to ensure that the Company’s operational activities are carried out in accordance with the prevailing laws and regulations in the capital market and other regulations, by:1. Ensuring that the Management provides a written statement regarding the

accountability of the Company’s compliance with the laws and regulations;2. Evaluating reports made by the Management or legal advisors relating to the

prevailing laws and regulations;3. Evaluating the findings or results of examinations conducted by regulatory

agencies, independent audits, and internal audits; and4. Expanding evaluations and conduct investigations on laws and regulations relating

to the Company’s business to determine the magnitude of the risks that will arise.



140



Melakukan penelaahan, pemantauan dan evaluasi atas perencanaan dan pelaksanaan audit, serta pemantauan atas tindak lanjut hasil audit dalam rangka menilai kecukupan pengendalian internal, termasuk kecukupan proses pelaporan keuangan.Performs a review, monitoring and evaluation on audit planning and execution, as well as monitoring any follow-up action of audit results to assess the adequacy of internal control, including adequacy of financial reporting process.

Penelaahan, pemantauan dan evaluasi atas perencanaan dan pelaksanaan audit, telah dilakukan dengan objektif, termasuk pemantauan atas tindak lanjut hasil audit yang telah sesuai dengan pengendalian internal Perseroan, dimana sistem pengendalian internal Perseroan mengelola bidang operasional dan keuangan dengan baik tanpa menyebabkan kerugian.Has performed a review, monitoring and evaluation on the audit planning and execution, which have been carried out objectively, including monitoring on the follow-up of audit results that is in accordance with the Company’s internal control, where the internal control system has appropriately managed the operational and financial fields without causing losses to the Company.

Memberikan pendapat independen dalam hal terjadi perbedaan antara manajemen dan akuntan atas jasa yang diberikannya.Provides an independent opinion in the event of dispute between the Management and the Accountant for the services rendered.

Sepanjang tahun 2020, tidak terjadi perbedaan pendapat antara manajemen dan audit eksternal terhadap pengauditan Laporan Keuangan. Oleh karena itu, Komite Audit tidak memberikan pendapat ataupun nasihat yang bersifat independen.Throughout 2020, there was no difference of opinion between the Management and External Auditor regarding the auditing of Financial Statements. Therefore, the Audit Committee does not provide independent opinion or advice.

Memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukan calon auditor independen/eksternal dan memberikan rekomendasi penunjukan auditor independen/eksternal.Provides recommendations to the Board of Commissioners regarding the appointment of independent/external auditor candidates and provide recommendations for the appointment of independent/external auditors.

Menunjuk Kantor Akuntan Publik PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan sebagai audit eksternal berdasarkan hasil keputusan RUPS Tahunan yang dilaksanakan pada 7 Agustus 2020, serta laporan penunjukan kantor akuntan publik tersebut telah dilaporkan kepada Kepala Eksekutif Pengawas Pasar Modal Otoritas Jasa Keuangan melalui surat No. 259/LI-Dir/VIII/2020 tanggal 11 Agustus 2020.Has appointed PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners Public Accounting Firm as an external audit pursuant to the resolution of the Annual GMS which is held on August 7th, 2020. In addition, report of the Public Accounting Firm appointment has been submitted to the Chief Executive of Capital Market Supervision of the Financial Services Authority by letter No. 259/LI-Dir/VIII/2020 dated August 11th, 2020.

Memastikan Laporan Keuangan sesuai dengan standar akuntansi yang berlaku di Indonesia dan ketentuan peraturan perundang-undangan di bidang perasuransian.Ensures the Financial Statements are in accordance with accounting standards applicable in Indonesia as well as the provisions of regulations on insurance.

Melakukan penelaahan dan evaluasi terhadap Laporan Keuangan Perseroan dengan berkoordinasi bersama Unit Audit Internal dan audit eksternal. Has reviewed and conducted an evaluation on the Financial Statements in coordination with the Internal Audit Unit and the external audit.

Menjaga kerahasiaan dokumen, data, dan informasi Perseroan.Maintains the confidentiality of Company’s documents, data, and information.

Menjaga dan menyimpan dengan sangat hati-hati setiap dokumen, data, dan informasi Perseroan sesuai dengan prinsip kerja Komite Audit.Has maintained and stored very carefully every document, data, and information in accordance with the Audit Committee’s working principles.

Rapat

Komite Audit wajib menyelenggarakan rapat internal paling sedikit 1 kali dalam 3 bulan. Sepanjang tahun 2020, Komite Audit telah menyelenggarakan rapat sebanyak 4 kali, 3 kali rapat bersama Departemen Internal Audit dan Direksi Perseroan, serta 1 kali rapat bersama auditor eksternal, Direksi, dan Dewan Komisaris. Informasi mengenai tingkat kehadiran rapat anggota Komite Audit diungkapkan sebagai berikut.

NamaName

JabatanPosition




(%)

Frans Lamury KetuaChairman 4 4 100,00

Liu Raymond AnggotaMember 4 4 100,00

Karnadi Nawawi AnggotaMember 4 4 100,00

Meeting

The Audit Committee is required to hold an internal meeting at least once every 3 months. In 2020, the Audit Committee held 4 meetings, 3 meetings with the Internal Audit Department and the Board of Directors, and 1 meeting with external auditors, the Board of Directors, and the Board of Commissioners. Information regarding the level of attendance of the Audit Committee members at these meetings is disclosed as follows.



Competency development program is conducted to improve the Audit Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on the competency development activities attended by Frans Lamury as Chairman of the Nomination and Remuneration Committee have been disclosed in the Board of Commissioners section. Meanwhile, other members of the Nomination and Remuneration Committee have not participated in competency development.

Remuneration and Nomination Committee

The Remuneration and Nomination Committee has a duty to assist in determining the nomination and remuneration of members of the Board of Commissioners and Board of Directors. In the nomination function, this Committee has duties related to the establishment, monitoring and evaluation of the performance of important positions in the Company. Whereas the remuneration function is concerned with determining the composition, procedures, policies, and the amount of remuneration for the Board of Commissioners and Board of Directors.

Work Guidelines

The Company has a Remuneration and Nomination Committee Charter which was updated and ratified on November 1st, 2019. The charter was prepared to ensure the implementation of the Remuneration and Nomination Committee duties is in accordance with the GCG principles and prevailing laws and regulations.

Composition

The composition of the Remuneration and Nomination Committee as of December 31st, 2020 is disclosed in the following table.


Pengembangan kompetensi dilakukan untuk mendorong produktivitas Komite Nominasi dan Remunerasi dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Frans Lamury selaku Ketua Komite Nominasi dan Remunerasi telah diungkapkan pada uraian Dewan Komisaris. Sedangkan, anggota Komite Nominasi dan Remunerasi lainnya belum mengikuti pengembangan kompetensi.

Komite Nominasi dan Remunerasi

Komite Nominasi dan Remunerasi bertugas untuk membantu menentukan nominasi dan remunerasi anggota Dewan Komisaris dan Direksi Perseroan. Pada fungsi nominasi, komite ini menjalankan tugas yang berkaitan dengan formasi, pemantauan, dan evaluasi kinerja jabatan penting di dalam Perseroan, sedangkan pada fungsi nominasi berkaitan dengan penetapan komposisi, prosedur, kebijakan, dan jumlah besaran remunerasi Dewan Komisaris dan Direksi.

Pedoman Kerja

Perseroan telah memiliki Piagam Komite Nominasi dan Remunerasi yang diperbarui dan disahkan pada 1 November 2019. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Nominasi dan Remunerasi telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Nominasi dan Remunerasi Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition


Periode Menjabat dan Dasar Pengangkatan

Office Tenure and Basis of Appointment

Benny Haryanto Djie* KetuaChairman

Administrasi Bisnis dan KeuanganFinance and Business Administration

2019-2020 : Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019.2019-2020 : Board of Commissioners Decree dated August 16th, 2019.Frans Lamury

AnggotaMember

Underwriting, Manajemen, dan Teknik AsuransiUnderwriting, Management, and Insurance Engineering

Susanti Halim AnggotaMember

Personalia dan Sumber Daya ManusiaPersonnel and Human Resources

* Mengikuti masa jabatan sebagai Presiden Komisaris yang berakhir sejak ditutupnya RUPS Tahunan yang dilaksanakan pada tanggal 7 Agustus 2020.* Following the term of office as President Commissioner which ended since the closing of the Annual GMS held on August 7th, 2020.



142

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Nominasi dan Remunerasi mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Nominasi dan Remunerasi saat menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Nominasi dan Remunerasi juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab beserta realisasi program kerja selama tahun 2020 dijelaskan sebagai berikut.



Fungsi Nominasi / Nomination Function

Memberikan rekomendasi kepada Dewan Komisaris terkait hal-hal berikut.1. Komposisi jabatan anggota Dewan Komisaris dan/atau Direksi;2. Kebijakan dan kriteria yang dibutuhkan dalam proses nominasi; serta3. Kebijakan evaluasi kinerja bagi anggota Dewan Komisaris dan/atau

Direksi.Provides recommendations to the Board of Commissioners regarding the following matters:1. The composition of members of the Board of Commissioners and/or

Board of Directors;2. Policies and criteria needed in the nomination process; and3. Performance evaluation policy for the members of the Board of

Commissioners and/or Board of Directors.

Memberikan saran dan rekomendasi yang profesional terkait komposisi, kebijakan, dan kriteria, serta melakukan evaluasi kinerja anggota Dewan Komisaris dan/atau Direksi di tahun 2020 dengan memperhatikan KPI.Has provided professional advice and recommendations regarding the Board of Commissioners and/or Board of Directors composition, policies, and criteria, as well as evaluated the performance of the Board of Commissioners and/or Board of Directors members in 2020 against their KPI.

Memberikan rekomendasi kepada Dewan Komisaris mengenai program pengembangan kemampuan anggota Dewan Komisaris atau Direksi.Provides recommendations to the Board of Commissioners regarding the capacity development programs for members of Board of Commissioners and/or Board of Directors.

Memberikan masukan dan saran terkait pelaksanaan kegiatan pengembangan kompetensi yang sesuai dengan tugas dan tanggung jawab anggota Dewan Komisaris dan Direksi.Has provided input and suggestions regarding the implementation of competency development activities in accordance with the Board of Commissioners and the Board of Directors duties and responsibilities.

Memberikan usulan calon yang memenuhi syarat sebagai anggota Dewan Komisaris atau Direksi kepada Dewan Komisaris untuk disampaikan kepada RUPS.Proposes candidates who qualify as members of the Board of Commissioners and/or Board of Directors to the Board of Commissioners to be submitted to the GMS.

Memberikan rekomendasi untuk calon Presiden Komisaris Perseroan di tahun 2020. Rekomendasi tersebut selanjutnya disampaikan di dalam RUPS beserta pertimbangannya. Has provided recommendations for President Commissioner candidates in 2020. These recommendations are subsequently conveyed at the GMS along with their considerations.

Fungsi Remunerasi / Remuneration Function

Memberikan rekomendasi kepada Dewan Komisaris terkait hal-hal berikut.1. Struktur remunerasi, berupa gaji, honorarium, insentif dan/atau

tunjangan yang bersifat tetap dan/atau variabel;2. Kebijakan atas remunerasi; dan3. Besaran atas Remunerasi.Provides recommendations to the Board of Commissioners regarding the following matters.1. Remuneration structure in the form of salary, honorarium, incentive,

and/or permanent and/or variable allowances;2. Remuneration Policy; and3. Remuneration amount.

Menyampaikan rekomendasi mengenai struktur remunerasi, kebijakan, dan besaran remunerasi kepada Dewan Komisaris dengan mempertimbangkan pencapaian kinerja Perseroan.Has conveyed recommendations regarding the remuneration structure, policies, and amount of remuneration to the Board of Commissioners by taking into account the Company’s performance achievements.

Membantu Dewan Komisaris melakukan penilaian kinerja dengan kesesuaian remunerasi yang diterima masing-masing anggota Dewan Komisaris dan/atau anggota Direksi.Assists the Board of Commissioners in the assessment of performance in conformity with total remuneration received by each member of the Board of Commissioners and/or Board of Directors.

Independence

In carrying out its duties and responsibilities, the Remuneration and Nomination Committee promotes the independence and prudence principles. The Company guarantees that the members of the Remuneration and Nomination Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the Remuneration and Nomination Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company's policies that may established during the implementation of the Committee's duties and responsibilities.


The Remuneration and Nomination Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.


Rapat

Komite Nominasi dan Remunerasi wajib menyelenggarakan rapat internal paling sedikit 1 kali dalam 6 bulan. Sepanjang tahun 2020, Komite Nominasi dan Remunerasi telah menyelenggarakan rapat sebanyak 2 kali, dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Benny Haryanto Djie* KetuaChairman 1 1 100,00

Frans Lamury AnggotaMember 2 2 100,00

Susanti Halim AnggotaMember 2 2 100,00



Pengembangan kompetensi dilakukan untuk mendorong produktivitas Komite Nominasi dan Remunerasi dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development. Pada tahun 2020, Benny Haryanto Djie selaku Ketua Komite Nominasi dan Remunerasi belum berkesempatan mengikuti pengembangan kompetensi hingga jabatannya berakhir pada tanggal 7 Agustus 2020. Sementara, pengembangan kompetensi Frans Lamury, selaku anggota Komite Nominasi dan Remunerasi, telah diungkapkan pada uraian Dewan Komisaris. Informasi pengembangan kompetensi anggota Komite Nominasi dan Remunerasi lainnya di tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

Topik Pengembangan KompetensiCompetency Development Subject



Susanti Halim

AnggotaMember



Sharing Knowledge "Holistic Leadership in Digital Era"

Jakarta, 3 Maret 2020Jakarta, March 3rd, 2020

Otoritas Jasa Keuangan Financial Service Authority

Workshop Kiat Pembuatan PP/PKB dari Perspektif PHIWorkshop on Tips for the Preparation of PP/PKB from the Perspective of PHI

Jakarta, 5 Maret 2020Jakarta, March 5th, 2020

Asosiasi Pengusaha Indonesia (APINDO)The Employers’ Association of Indonesia

Increase Your Trust Within Your Team While WFH

Daring melalui GoTo Meeting, 13 April 2020Online via GoTo Meeting, April 13th, 2020

Dunamis

Pencegahan Penularan dan Penanganan Covid-19 di Tempat KerjaTransmission Prevention and the Management of Covid-19 in the Workplace

Daring melalui Zoom Meeting, 14 April 2020Online via Zoom Meeting, April 14th, 2020


Meeting

The Remuneration and Nomination Committee is required to hold an internal meeting at least once every 6 months. Throughout 2020, the Nomination and Remuneration Committee has held 2 meetings, with attendance levels as follows.


Competency development program is conducted to improve the Remuneration and Nomination Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. In 2020, Benny Haryanto Djie as the Chairman of the Remuneration and Nomination Committee has not had the opportunity to participate in competency development until his position ends on August 7th, 2020. Meanwhile, competency development on Frans Lamury, as a Remuneration and Nomination Committee member, have been disclosed in the Board of Commissioners section. Information on the competency development programs of other members of the Remuneration and Nomination Committee is disclosed in the following table.



144

NamaName

JabatanPosition




Training Masa Persiapan Pensiun (MPP)Retirement Preparation Period (MPP) Training


Johnson

HR Sharing - Stimulus Pemerintah terkait HR di Masa Pandemi Covid-19HR Sharing - Government stimulus related to HR during the Covid-19 Pandemic



Pandemi Covid-19 dan Ketahanan KaryawanThe Covid-19 Pandemic and Employee Resilience



Moving Forward - The Role of HR During Unanticipated Challenge

Daring melalui GoTo Meeting, 13 Mei 2020Online via GoTo Meeting, May 13th, 2020

Dunamis

Sosialisasi Stimulus Fiskal (Perpajakan) Sebagai Countercyclical Dampak Penyebaran Covid-19Dissemination of Fiscal Stimulus (Taxation) as a Countercyclical Measures on Impact of the Spread of Covid-19



Moving Forward - The Role of HR During Unanticipated Challenge (Bincang Bersama Ahli & Praktisi)Moving Forward - The Role of HR During Unanticipated Challenge (A Casual Talk with Experts & Practitioners)

Daring melalui GoTo Meeting, 19 Mei 2020Online via GoTo Meeting, May 19th, 2020

Dunamis

Turn Around Strategy in Human Capital Daring melalui Zoom Meeting, 11 Juli 2020Online via Zoom Meeting, July 11th, 2020


Building Leader in the New Normal Daring melalui Zoom Meeting, 13 Juli 2020Online via Zoom Meeting, July 13th, 2020

Dunamis

Creating Environment of Trust to Boost Your Team's Productivity


Dunamis

Re-Modelling Hubungan Kerja dan Teknik Mengukur Kinerja di Era New NormalRe-Modeling of Employment Relationships and Techniques for Measuring Performance in the New Normal Era

Daring melalui Zoom Meeting, 21-30 Juli 2020Online via Zoom Meeting, July 21st-30th, 2020


Leader as Innovator Driver Daring melalui Zoom Meeting, 22 Juli 2020Online via Zoom Meeting, July 22nd, 2020

Dunamis

Six Keys to Developing Manager's Mindset Daring melalui Zoom Meeting, 29 Juli 2020Online via Zoom Meeting, July 29th, 2020

Dunamis

Establishing Credibility with Your Team Daring melalui Zoom Meeting, 5 Agustus 2020Online via Zoom Meeting, August 5th, 2020

Dunamis

Conflict Management: Eight Phrases to Help You Move a Tough Conflict in a Productive Direction


Dunamis


NamaName

JabatanPosition




Project Management Essentials: I Don't Know Where My Team Stands on Projects


Dunamis

Increase Accountability on Your Team Daring melalui Zoom Meeting, 14 Agustus 2020Online via Zoom Meeting, August 14th, 2020

Dunamis

Influential Leadership: Developing Your Reputation as a Leader


Dunamis

Edukasi Literasi Keuangan - Financial Planner DPLK ManulifeFinancial Literacy Education - DPLK Manulife Financial Planner



Receiving, Reinforcing & Redirecting Feedback Daring melalui Zoom Meeting, 23 Oktober 2020Online via Zoom Meeting, October 23rd, 2020

Dunamis

Edukasi Literasi Keuangan - Property, Future & Us (Millenial)Financial Literacy Education - Property, Future & Us (Millennial)

Daring melalui Zoom Meeting, 23 Oktober 2020Online via Zoom Meeting, October 23rd, 2020


Pengaturan Kelas Rawat Inap Standar Bagi Peserta JKNArrangement of Standard Inpatient Classes for JKN Participants



Power Point Tips: Make Your Points Powerful Daring melalui Zoom Meeting, 26 Oktober 2020Online via Zoom Meeting, October 26th, 2020


Powerful Presentation Daring melalui Zoom Meeting, 26 Oktober 2020Online via Zoom Meeting, October 26th, 2020


Pin Point Action Daring melalui Zoom Meeting, 20-21 November 2020Online via Zoom Meeting, November 20th-21st, 2020

Menuju Insan Cemerlang (MIC)Towards Brilliant Human Being

Persiapan Infrastruktur Data dan Pelayanan Vaksinasi Covid-19Preparation of Data Infrastructure and Covid-19 Vaccination Services

Daring melalui Zoom Meeting, 1 Desember 2020Online via Zoom Meeting, December 1st, 2020


Sosialisasi Mengenai Pencegahan Fraud dan Tindak Pidana di Bidang PerasuransianDissemination on Prevention of Fraud and Crime Act in the Insurance Sector


Otoritas Jasa Keuangan

Sosialisasi APU PPTDisseminatino of AML-CFT

Daring melalui Zoom Meeting, 2 Desember 2020Online via Zoom Meeting, December 2nd, 2020


Kupas Tuntas UU Cipta Kerja Klaster KetenagakerjaanThorough Discussion about Employment Cluster in the Omnibus Law on Job Creation





146

NamaName

JabatanPosition




Inner Healing Power Daring melalui Zoom Meeting, 22 Desember 2020Online via Zoom Meeting, December 22nd, 2020


Indonesia Human Resources Outlook 2021 Daring melalui Zoom Meeting, 27 Desember 2020Online via Zoom Meeting, December 27th, 2020

Human Resources Business Partner (HRBP)

Kebijakan Nominasi Dewan Komisaris dan Direksi

Penentuan nominasi Dewan Komisaris dan Direksi dilakukan dengan memperhatikan hal-hal berikut.

1. Anggota Dewan Komisaris dan Direksi diangkat oleh RUPS dengan memperhatikan ketentuan mengenai berakhirnya masa jabatan anggota Dewan Komisaris dan Direksi dengan sendirinya, serta ketentuan mengenai kuorum, hak suara, dan keputusan RUPS yang terdapat dalam Anggaran Dasar Perseroan;

2. Anggota Dewan Komisaris dan Direksi diangkat oleh RUPS dari calon-calon yang diajukan oleh Pemegang Saham Utama Perseroan;

3. Setiap usulan penggantian dan/atau pengangkatan anggota Dewan Komisaris dan Direksi harus memenuhi persyaratan dan memperhatikan rekomendasi dari Komite Nominasi dan Remunerasi;

4. Anggota Dewan Komisaris dan Direksi diangkat untuk masa jabatan tertentu sesuai hasil RUPS Tahunan dan dapat diangkat kembali sesuai ketentuan yang berlaku;

5. Pengangkatan anggota Dewan Komisaris dan Direksi dilakukan oleh RUPS dan harus dinyatakan jelas dalam akta notaris yang memuat keputusan RUPS mengenai pengangkatan tersebut; serta

6. RUPS memiliki hak untuk menghentikan Dewan Komisaris dan Direksi sewaktu-waktu sesuai dengan situasi dan/atau kebutuhan Perseroan.

Board of Commissioners and Board of Directors Nomination Policy

The determination of the nominations for the Board of Commissioners and the Board of Directors is conducted by taking into consideration of the following matters.1. Members of the Board of Commissioners and Board

of Directors are appointed by the GMS by taking into consideration the provisions regarding the end of office tenure of the Board of Commissioners and Board of Directors members, as well as the provisions regarding quorum, voting rights, and GMS resolution stated in the Articles of Association;

2. The members of the Board of Commissioners and the Board of Directors are appointed by the GMS from the candidates proposed by the Main Shareholders;

3. Every proposal for replacement and/or appointment of members of the Board of Commissioners and Board of Directors must meet the requirements and take into account the recommendations from the Remuneration and Nomination Committee;

4. Members of the Board of Commissioners and the Board of Directors are appointed for a certain term and can be reappointed in accordance with applicable regulations;

5. The appointment of members of the Board of Commissioners and Directors is conducted by the GMS and must be clearly stated in the notarial deed which contains the GMS resolution regarding the appointment; and

6. The GMS reserves the right to terminate the Board of Commissioners and the Board of Directors at any time according to the Company’s needs and/or situation.


Komite Pemantau Risiko

Komite Pemantau Risiko bertugas untuk menelaah setiap risiko yang bersifat kompleks di Perseroan. Pemantauan tersebut dilakukan mulai dari identifikasi risiko, identifikasi kualitas risiko, analisa risiko, pengendalian risiko, koasuransi, hingga pemanfaatan kapasitas reasuransi yang tepat.

Pedoman

Perseroan telah memiliki Piagam Komite Pemantau Risiko yang diperbarui dan disahkan pada 1 November 2019. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Pemantau Risiko telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Pemantau Risiko Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition



Frans Lamury KetuaChairman

Underwriting, Manajemen, dan Teknik AsuransiUnderwriting, Management, and Insurance Engineering

2019-2020 : Surat Keputusan Dewan Komisaris tanggal 16 Agustus 2019.

2019-2020 : Board of Commissioners Decree dated August 16th, 2019.

Mathias Elsson AnggotaMember

Risk Management

Charles Hanafie AnggotaMember

Risk Management, Underwriting, Pemasaran Digital, dan Pengembangan ProdukRisk Management, Underwriting, Digital Marketing, and Product Development

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Pemantau Risiko mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Pemantau Risiko yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Pemantau Risiko juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.

Risk Monitoring Committee

The Risk Monitoring Committee has a duty to review any complex risks. The monitoring is conducted starting from risk identification, risk quality identification, risk analysis, risk control, co-insurance, to proper utilization of reinsurance capacity.

Guidelines

The Company already has a Risk Monitoring Committee Charter which was updated and ratified on November 1st, 2019. The charter was prepared to ensure that the implementation of the Risk Monitoring Committee's duties is in accordance with the GCG principles and prevailing laws and regulations.

Composition

The composition of the Risk Monitoring Committee as of December 31st, 2020 is disclosed in the following table.

Independence

In carrying out its duties and responsibilities, the Risk Monitoring Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Risk Monitoring Committee are free from any intervention, either from the Board of Commissioners, Board of Directors or the Shareholders. In addition, the Risk Monitoring Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company's policies that may be established during the implementation of the Committee's duties and responsibilities.



148


Tugas dan tanggung jawab Komite Pemantau Risiko, beserta realisasi program kerja di tahun 2020 diuraikan sebagai berikut.



Melakukan pengawasan dan pemantauan pelaksanaan penerapan sistem manajemen risiko.Supervises and monitors the implementation of risk management.

Mengawasi dan mengevaluasi kesesuaian kebijakan manajemen risiko dan pelaksanaannya dengan melakukan koordinasi bersama Unit Audit Internal.Has conducted a supervision and evaluation on the suitability of risk management policies and their implementation in coordination with the Internal Audit Unit.

Menilai efektivitas penerapan manajemen risiko termasuk penilaian tingkat risiko yang dihadapi oleh Perseroan.Assesses the effectiveness of risk management, including assessing the risk tolerance that can be taken by the Company.

Melakukan penilaian efektivitas penerapan manajemen risiko pada semua unit kerja, serta melakukan analisa lebih lanjut terhadap profil-profil risiko yang disesuaikan dengan perkembangan bisnis Perseroan untuk meminimalisir terjadinya risiko yang baru.Has conducted an assessment the effectiveness of the implementation of risk management in all work units, as well as conducting further analysis of risk profiles tailored to the Company’s business developments to minimize the occurrence of new risks.

Wajib membuat laporan penilaian tingkat risiko Perseroan setiap tahun dengan mengacu pada Peraturan Otoritas Jasa Keuangan No. 10/POJK.05/2014 dan Surat Edaran Otoritas Jasa Keuangan No. 3/SEOJK.05/2015 sesuai dengan Prinsip Umum Penilaian Risiko dan Jenis-Jenis Risiko.Required to prepare a report on the assessment of the Company’s risk level each year pursuant to POJK No.10/POJK.05/2014 and SEOJK No. 3/SEOJK.05/2015 inaccordance with the General Principles of Risk Assessment and Types of Risk.

Memberikan rekomendasi dan menelaah atas penyusunan:1. Laporan Profil Risiko Terintegrasi;2. Laporan Hasil Penilaian Tingkat Kesehatan Keuangan; serta3. Laporan Penilaian Sendiri (Self-Assessment) Penerapan Manajemen

Risiko.Has provided recommendations and reviewed the preparation of:1. Integrated Risk Profile Report;2. Report on the Result of the Financial Soundness Level Assessment; and3. Report on the Self-Assessment of Risk Management Implementation.

Memastikan Perseroan menjalankan sistem manajemen risiko sesuai dengan ketentuan peraturan perundang-undangan.Ensures that the Company carries out Risk Management system in accordance with the applicable laws and regulations.

Melakukan koordinasi dengan Unit Audit Internal untuk memastikan perencanaan audit telah memperhatikan setiap aktivitas operasional Perseroan yang memiliki risiko tinggi, serta telah menyusun dan menetapkan langkah mitigasi terkait risiko tersebut.Performed a coordination with the Internal Audit Unit to ensure that the audit planning has taken into account every Company’s operational activity that has high risks, and has prepared and determined mitigation measures related to these risks.

Rapat

Komite Pemantau Risiko wajib melaksanakan rapat paling sedikit 1 kali dalam 3 bulan. Sepanjang tahun 2020, Komite Pemantau Risiko telah melaksanakan rapat sebanyak 4 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Frans Lamury KetuaChairman 4 4 100,00

Mathias Elsson AnggotaMember 4 4 100,00

Charles Hanafie AnggotaMember 4 4 100,00

Meeting

The Risk Monitoring Committee is required to hold a meeting at least once in every 3 months. In 2020, the Risk Monitoring Committee held 4 meetings with level of attendance as follows.


The Risk Monitoring Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.



Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Pemantau Risiko dalam melaksanakan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Frans Lamury sebagai Ketua Komite Pemantau Risiko telah diungkapkan pada uraian Dewan Komisaris. Sementara itu, pengembangan kompetensi yang diikuti oleh Anggota Komite Pemantau Risiko lainnya di tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition




Mathias Elsson

AnggotaMember



Delegate and Monitor Your Remote Team Member Effectively


Dunamis

Peran Pemimpin dalam Menghadapi PerubahanThe Role of Leaders in Facing Change


Johnson




Further with Risk Management Daring melalui Zoom Meeting, 5 Agustus 2020Online Via Zoom Meeting, August 5th, 2020

Universitas Kristen Indonesia

Sharing and Discussion Comprehensive General Liability Insurance (CGL)



Basic Insurance - Contractor's Plant and Machinery Insurance (CPM)

Daring melalui Zoom Meeting, 25 September 2020Online via Zoom Meeting, September 25th, 2020


Kajian Risiko Banjir Kawasan Industri Karawang - BekasiAn Assessment on Industrial Estate Flood Risk at Karawang - Bekasi


Maipark




Edukasi Literasi Keuangan - Property, Future & Us (Millenial)Financial Literacy Education - Property,Future & Us (Millennial)






Competency development program is conducted to improve the Risk Monitoring Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on competency development activities attended by Frans Lamury, as the Chairman of the Risk Monitoring Committee, has been disclosed in the Board of Commissioners section. And, information on the competency development programs attended by other members of the Risk Monitoring Committee in 2020 is disclosed in the following table.



150

NamaName

JabatanPosition




Update Regulasi dan Masalah Hukum di Pengadilan terkait PerasuransianRegulatory Updates and Insurance-related Legal Issues in Courts

Daring melalui Zoom Meeting, 25 November 2020Online via Zoom Meeting, November 25th, 2020


CPE Master Class Program Series XIX - Challenges Companies Face Amid Global Slowbalization

Daring melalui Zoom Meeting, 17-18 Desember 2020Online via Zoom Meeting, December 17th-18th, 2020

Lembaga Sertifikasi Profesi Manajemen Risiko (LSPMR)Risk Management Professional Certification Institute



Charles Hanafie

AnggotaMember



Building High Trust Relationship for Better Team Engagement


Dunamis

How to Boost Your Sales During the Pandemic Daring melalui Zoom Meeting, 12 Mei 2020Online via Zoom Meeting, May 12th, 2020


Sharing Knowledge Tantangan Industri Asuransi di Era New NormalSharing Knowledge: Challenges of the Insurance Industry in the New Normal Era






Building Leader in the New Normal Daring melalui Zoom Meeting, 13 Juli 2020Online via Zoom Meeting, July 13th, 2020

Dunamis



Dunamis

Dos & Don’ts for Evaluating Direct Reports Performance


Dunamis

Leader as Innovator Driver Daring melalui Zoom Meeting, 22 Juli 2020Online via Zoom Meeting, July 22nd, 2020

Dunamis

When Your Manager Doesn't Support Your Great Idea


Dunamis

How to Handle Your Direct Report Who Won't Take Feedback


Dunamis


NamaName

JabatanPosition




Further with Risk Management Daring melalui Zoom Meeting, 5 Agustus 2020Online via Zoom Meeting, August 5th, 2020

Universitas Kristen Indonesia

Unravelling Strategies Post Covid-19 & Beyond Daring melalui Zoom Meeting, 23 September 2020Online via Zoom Meeting, September 23rd, 2020

Mercer

Leading Your Team in Pursuit of Goal Daring melalui Zoom Meeting, 12 Oktober 2020Online via Zoom Meeting, October 12th, 2020

Dunamis

Virtual Presentation: Persuade Audience to a Decision


Dunamis








Komite Kebijakan Tata Kelola Perusahaan

Komite Kebijakan Tata Kelola Perusahaan bertugas membantu melakukan pengkajian/penelaahan terhadap penerapan kebijakan tata kelola bagi Perseroan. Selain memberikan rekomendasi terkait penerapan tata kelola perusahaan yang baik, komite ini juga memberikan rekomendasi yang berkaitan dengan etika bisnis, serta pelaksanaan tanggung jawab sosial perusahaan.

Pedoman

Perseroan telah memiliki Piagam Komite Kebijakan Tata Kelola Perusahaan yang diperbarui dan disahkan pada 1 November 2019. Piagam tersebut dijadikan dasar dalam memahami peraturan-peraturan terkait tata kerja Komite Kebijakan Tata Kelola Perusahaan sehingga rekomendasi yang diberikan kepada Dewan Komisaris dan Direksi terkait penerapan prinsip-prinsip GCG telah sesuai dengan kebutuhan dan tujuan Perseroan.

Corporate Governance Policy Committee

The Corporate Governance Policy Committee has a duty to assist the Board of Commissioners in conducting studies/reviews of the implementation of governance policies. In addition to providing recommendations regarding the implementation of good corporate governance, this committee also provides recommendations related to business ethics, as well as the implementation of corporate social responsibility.

Guidelines

The Company already has a Corporate Governance Policy Committee Charter which was updated and ratified on November 1st, 2019. This charter is used as the basis for understanding the regulations related to the Corporate Governance Policy Committee work procedures so the recommendations given to the Board of Commissioners and Board of Directors regarding the implementation of GCG principles are appropriate with the Company needs and objectives.



152

Komposisi

Komposisi Komite Kebijakan Tata Kelola Perusahaan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition



Benny Haryanto Djie* KetuaChairman

Administrasi Bisnis dan KeuanganFinance and Business Administration

2019-2020 : Surat Keputusan Dewan Komisaris tanggal 15 November 2019.2019-2020 : Board of Commissioners Decree dated November

15th, 2019.


AnggotaMember

Tata Kelola Perusahaan, Manajemen, danManajemen RisikoCorporate Governance, Management, andRisk Management

Satini Kartika Sari AnggotaMember

HukumLegal


Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Kebijakan Tata Kelola Perusahaan mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Kebijakan Tata Kelola Perusahaan yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Kebijakan Tata Kelola Perusahaan juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab Komite Kebijakan Tata Kelola Perusahaan, beserta realisasi program kerja di tahun 2020 dijelaskan sebagai berikut.



Mengkaji kebijakan tata kelola perusahaan yang baik yang disusun oleh Direksi.Reviews the Good Corporate Governance policy prepared by the Board of Directors.

Mengkaji kebijakan GCG dengan memberikan saran dan rekomendasi terkait penyusunan Laporan Tahunan kepada Direksi yang disesuaikan dengan peraturan perundangan-undangan yang berlaku, diantaranya:1. Penyesuaian dengan Surat Edaran Otoritas Jasa Keuangan

No. 14/SEOJK.05/2019 tentang Pembentukan, Susunan Keanggotaan, dan Masa Kerja Komite pada Dewan Komisaris;

2. Komite Tata Kelola Perusahaan memberikan beberapa rekomendasi atas hasil evaluasi terkait kesesuaian kebijakan penerapan GCG di dalam Perseroan.

Independence

In carrying out its duties and responsibilities, the Corporate Governance Policy Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Corporate Governance Policy Committee are free from any intervention, either from the Board of Commissioners, Board of Directors or the Shareholders. In addition, the Corporate Governance Policy Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company's policies that may established during the implementation of the Committee's duties and responsibilities.


The Corporate Governance Policy Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.

Composition

The composition of the Corporate Governance Policy Committee as of December 31st, 2020 is disclosed in the following table.




Has reviewed the GCG policies by providing suggestions and recommendations related to the preparation of the Annual Report to the Board of Directors in accordance with the prevailing laws and regulations, including:1. Conformity with the Financial Services Authority Circular Letter

No.14/SEOJK.05/2019 on the Establishment, Membership Composition, and Service Period of Committees under the Board of Commissioners;

2. The Corporate Governance Committee provides several recommendations on the results of evaluations on the conformity of GCG implementation policies within the Company.

Menilai konsistensi penerapan tata kelola perusahaan yang baik, termasuk yang berkaitan dengan etika bisnis dan tanggung jawab sosial perusahaan.Assesses the consistency of Good Corporate Governance implementation, including in terms of business ethics and corporate social responsibility.

Memastikan penerapan GCG tetap konsisten dan sesuai dengan Pedoman Tata Kelola Perseroan, serta peraturan perundang-undangan yang berlaku. Selain itu, Komite Kebijakan Tata Kelola Perusahaan juga telah memastikan penerapan tata kelola perusahaan berkaitan dengan etika bisnis dan pelaksanaan tanggung jawab sosial perusahaan.Has ensures that the implementation of GCG remains consistent and in accordance with the Corporate Governance Guidelines, as well as with prevailing laws and regulations. In addition, the Corporate Governance Policy Committee has also ensured that the implementation of corporate governance is related to business ethics and the implementation of corporate social responsibility.

Memonitor pelaksanaan laporan tata kelola terintegrasi.Monitors implementation of the integrated governance.

Secara berkala, menyampaikan rekomendasi perbaikan atas laporan dan pelaksanaan tata kelola terintegrasi kepada Dewan Komisaris untuk ditindaklanjuti oleh Perseroan dan Entitas Anak.Has periodically submitted recommendations for improvements to the report and implementation of integrated governance to the Board of Commissioners to be followed up by the Company and its Subsidiaries.

Rapat

Komite Kebijakan Tata Kelola Perusahaan wajib menyelenggarakan rapat internal paling sedikit 1 kali dalam 6 bulan. Sepanjang tahun 2020, Komite Kebijakan Tata Kelola Perusahaan telah melaksanakan rapat sebanyak 2 kali, dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Benny Haryanto Djie* KetuaChairman 1 1 100,00

Jamilah Mawira Sungkar AnggotaMember 2 2 100,00

Satini Kartika Sari AnggotaMember 2 2 100,00



Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Kebijakan Tata Kelola Perusahaan dalam menjalankan tugas dan tanggung jawabnya. Kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development.

Meeting

The Corporate Governance Policy Committee is required to hold an internal meeting at least once in 6 month. Throughout 2020, the Corporate Governance Policy Committee has held 2 meetings, with attendance levels as follows.


Competency development program is conducted to improve the Corporate Governance Policy Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department.



154

Informasi terkait pengembangan kompetensi Komite Kebijakan Tata Kelola Perusahaan telah diungkapkan pada uraian Komite Nominasi dan Remunerasi, Direksi, serta Sekretaris Perusahaan.

Komite di Bawah DireksiCommittee Under the Board of Directors

Direksi melaksanakan pengelolaan perusahaan dibantu oleh komite-komite yang dibentuk berdasarkan peraturan perundang-undangan yang berlaku. Komite tersebut, yaitu:1. Komite Investasi;2. Komite Pengembangan Produk; 3. Komite Medis;4. Komite APU PPT;5. Komite Anti Fraud; dan6. Komite Penanganan Pengaduan Konsumen.

Komite Investasi

Komite Investasi melaksanakan tugas terkait pengelolaan investasi Perseroan. Selain itu, Komite Investasi bertugas untuk membantu manajemen dalam pengambilan keputusan terkait strategi investasi keuangan.

Pedoman

Perseroan telah memiliki Piagam Komite Investasi yang diperbarui dan disahkan pada 15 Agustus 2019. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Investasi telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Investasi Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

KualifikasiPosition


Johannes Agus KetuaChairman

Manajemen KeuanganFinance Management

2019-2020 : Surat Keputusan Direksi tanggal 20 Desember 2019.2019-2020 : Board of Directors Decree dated December

20th, 2019.Jessy Christina Hutagalung

AnggotaMember

Statistika dan UnderwritingStatistic and Underwriting

Yuita Kusmawaty AnggotaMember

AkuntansiAccounting

The Board of Directors carries out the management of the Company, assisted by several Committees established pursuant to the prevailing laws and regulations. These committees are:1. Investment Committee;2. Product Development Committee;3. Medical Committee;4. AML-CFT Committee;5. Anti Fraud Committee; and6. Consumer Complaint Handling Committee.

Investment Committee

The Investment Committee has duties related to the management of the Company's investment. In addition, the Investment Committee has a duty to assist the Management in making decisions related to financial investment strategies.

Guidelines

The Company already has an Investment Committee Charter which was updated and ratified on August 15th, 2019. The charter was prepared to ensure that the implementation of the Investment Committee's duties is in accordance with the GCG principles and the prevailing laws and regulations.

Composition

The composition of the Investment Committee as of December 31st, 2020 is disclosed in the following table.

Information related to the competency development of the Corporate Governance Policy Committee has been disclosed in the description of the Nomination and Remuneration Committee, the Board of Directors, and the Corporate Secretary.


Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Investasi mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Investasi yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Investasi juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab Komite Investasi, beserta realisasi program kerja di tahun 2020 dijelaskan sebagai berikut.



Merumuskan dan menetapkan kebijakan investasi dengan prinsip kehati-hatian.Formulates and stipulates investment policy with prudent principles.

Menetapkan kebijakan investasi yang menjunjung tinggi prinsip kehati-hatian dan disesuaikan dengan perkembangan pasar saat ini.Has established investment policies that uphold the principle of prudence and taking current market developments into account.

Mengawasi pelaksanaan kebijakan investasi yang telah ditetapkan oleh Perseroan dengan memperhatikan ketentuan perundang-undangan di bidang perasuransian dan pasar modal yang berkaitan dengan investasi.Supervises implementation of investment policy set by the Company by taking into account the prevailing laws and regulations in insurance and capital market pertaining to investment.

Mengawasi dan memastikan pelaksanaan kebijakan investasi Perseroan selama tahun 2020 sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal, khususnya terkait investasi.Has supervised and ensured that the implementation of the Company’s investment policies during 2020 was in accordance with prevailing laws and regulations in the field of insurance and the capital market, particularly those related to investment.

Melakukan pembaharuan terkait kebijakan investasi secara periodik dengan mengikuti perkembangan Perseroan dan pasar modal yang berkaitan dengan investasi.Improves investment policy periodically by following the development of the Company and the market.

Melakukan pembaharuan terkait kebijakan investasi secara periodik dengan mengikuti berbagai perkembangan informasi pasar modal serta secara berkala melakukan rapat kerja dengan Direksi Perseroan untuk mengetahui perkembangan internal Perseroan. Made periodic updates related to investment policies by following various developments in capital market information and periodically hold work meetings with the Board of Directors to have information about the Company’s internal developments.

Mengusulkan kepada Direksi maupun satuan kerja yang mengelola investasi terkait alternatif instrumen investasi yang kompetitif dan aman.Proposes competitive and safe investment instrument alternatives to the Board of Directors or work unit managing the investment.

Memberikan rekomendasi kepada Direksi terkait alternatif instrumen investasi yang kompetitif dan aman yang disesuaikan dengan kondisi pasar dan kebutuhan nasabah saat ini.Has provided recommendations to the Board of Directors regarding alternative, competitive and safe investment instruments tailored to current market conditions and customer needs.

Menjaga kesesuaian antara investasi dan kewajiban dengan memperhatikan pedoman kebijakan dan strategi investasi Perseroan.Maintains conformity between investment and liabilities by taking into account the Company’s guidelines for investment policy and strategy.

Menjaga dan memastikan kesesuaian investasi dan kewajiban berdasarkan pedoman kebijakan dan strategi investasi Perseroan, serta menyampaikan tingkat kesesuaian tersebut dalam Laporan Realisasi Rencana Bisnis Perseroan. Has maintained and ensured the conformity between investments and obligations based on the Company’s investment policy and strategy guidelines, and convey the level of conformity in the Business Plan Realization Report.

Independence

In carrying out its duties and responsibilities, the Investment Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Investment Committee are free from any intervention, either from the Board of Commissioners, Board of Directors or the Shareholders. In addition, the Investment Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company's policies that may established during the implementation of the Committee's duties and responsibilities.


The Investment Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.



156

Rapat

Komite Investasi wajib melaksanakan rapat internal paling sedikit 4 kali dalam setahun. Sepanjang tahun 2020, Komite Investasi telah melaksanakan rapat sebanyak 4 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Johannes Agus KetuaChairman 4 4 100,00


AnggotaMember 4 4 100,00

Yuita Kusmawaty AnggotaMember 4 4 100,00


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Investasi dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Johannes Agus sebagai Ketua Komite Investasi telah diungkapkan pada uraian Direksi. Sementara itu, pengembangan kompetensi yang diikuti oleh anggota Komite Investasi lainnya di tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition





AnggotaMember



Impact of Covid-19 on Construction Risk (CAR Policy Coverage and Claim Issues)


Ahli Asuransi Learning Center (AALC)Insurance Expert Learning Center

How to Boost Your Sales During the Pandemic Daring melalui Zoom Meeting, 12 Mei 2020Online via Zoom, May12th, 2020


General Insurance Shifting in the New Normal Daring melalui Zoom Meeting, 2 Juli 2020Online via Zoom Meeting, July 2nd, 2020


Diskusi Liability UnderwriterA Discussion on Liability Underwriter

Daring melalui Zoom Meeting, 3 Juli 2020Online via Zoom Meeting, July 3rd, 2020





Competency development program is conducted to improve the Investment Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on competency development activities attended by Johannes Agus as the Chairman of the Investment Committee, has been disclosed in the Board of Directors section. And, information on the competency development programs attended by other members of the Investment Committee in 2020 is disclosed in the following table.

Meeting

The Investment Committee is required to hold an internal meeting at least 4 times a year. In 2020, the Investment Committee held 4 meetings with level of attendance as follows.


NamaName

JabatanPosition




Growing Tree Insurance Daring melalui Zoom Meeting, 2 Desember 2020Online via Zoom Meeting, December 2nd, 2020






Yuita Kusmawaty

AnggotaMember



Maximizing Yours Resourcefulness and Initiatives while WFH

Daring melalui GoTo Meeting, 27 April 2020Online Via GoTo Meeting, April 27th, 2020

Dunamis

Sosialisasi Stimulus Fiskal (Perpajakan) Sebagai Countercyclical Dampak Penyebaran Covid-19Dissemination of Fiscal Stimulus (Taxation) as a Countercyclical Measures on Impact of the Spread of Covid-19


Asosiasi Pengusaha Indonesia (APINDO) The Employers Association of Indonesia

Increase Accountability on Your Team Daring melalui Zoom Meeting, 14 Agustus 2020Online via Zoom Meeting, August 14th, 2020

Dunamis

Enable Your Direct Reports to Stretch and Take on Bigger Challenge


Dunamis













158

Komite Pengembangan Produk

Komite Pengembangan Produk bertugas memberikan arahan dan masukan terkait pengembangan produk Perseroan. Komite ini juga berperan dalam melakukan evaluasi terkait kesesuaian dan kinerja produk yang akan dipasarkan.

Pedoman

Perseroan telah memiliki Piagam Pengembangan Produk yang diperbarui dan disahkan pada 15 Agustus 2019. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Pengembangan Produk telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Pengembangan Produk Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition



Agus Benjamin KetuaChairman

Manajemen, Underwriting, Manajemen Risiko, dan PemasaranManagement, Underwriting, Risk Management, andMarketing


Charles Hanafie AnggotaMember

Risk Management, Underwriting, Pemasaran Digital, dan Pengembangan ProdukRisk Management, Underwriting, Digital Marketing, and Product Development

Timmie Manglassa AnggotaMember

Underwriting dan Pengembangan ProdukUnderwriting and Product DevelopmentMuharom Febriyanto Anggota

Member

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Pengembangan Produk mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Pengembangan Produk yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Pengembangan Produk juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.

Independence

In carrying out its duties and responsibilities, the Product Development Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Product Development Committee are free from any intervention, either from the Board of Commissioners, Board of Directors or the Shareholders. In addition, the Product Development Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company's policies that may established during the implementation of the Committee's duties and responsibilities.

Product Development Committee

The Product Development Committee has a duty in providing direction and input regarding the development of the Company's products. This Committee also plays a role in evaluating the suitability and performance of the products to be marketed.

Guidelines

The Company already has a Product Development Charter which was updated and ratified on August 15th, 2019. The charter was prepared to ensure that the implementation of the Product Development Committee's duties is in accordance with the GCG principles and the prevailing laws and regulations.

Composition

The composition of the Product Development Committee as of December 31st, 2020 is disclosed in the following table.



Tugas dan tanggung jawab Komite Pengembangan Produk beserta realisasi program kerjanya di tahun 2020 dijelaskan sebagai berikut.

Tugas dan Tanggung Jawab Duties and Responsibilities


Menyusun rencana strategis yang berkaitan dengan pengembangan dan pemasaran produk asuransi.Prepares strategic plans for insurance products development and marketing.

Menyusun rencana bisnis terkait pengembangan dan pemasaran produk asuransi Perseroan yang disesuaikan target pencapaian yang telah ditetapkan Direksi dengan memperhatikan kebutuhan pasar/nasabah saat ini.Has prepared a business plan related to the development and marketing of the Company’s insurance products according to the achievement targets set by the Board of Directors by taking into account the current market/customer needs.

Mengevaluasi kesesuaian produk asuransi baru yang dipasarkan dengan rencana bisnis terkait pengembangan dan pemasaran produk asuransi kesehatan (health) dan asuransi non-kesehatan (general).Evaluates the conformity of new insurance products marketed with business plans related to the development and marketing of health insurance products and general insurance.

Mengevaluasi realisasi setiap produk asuransi yang dituangkan dalam rencana bisnis Perseroan untuk keperluan pengembangan pemasaran produk tahun berikutnya, yang disesuaikan dengan kebutuhan nasabah dan target Perseroan.Evaluate the realization of each insurance product that will be included in the Company’s business plan for the purpose of product marketing development for the following year, which is tailored to the needs of customers and the Company’s targets.

Mengevaluasi kinerja produk asuransi dan mengusulkan perubahan atau penghentian pemasaran.Evaluates insurance products’ performance and propose marketing changes or discontinuation.

Melakukan evaluasi kinerja dan pencapaian target pada setiap produk asuransi yang ditawarkan Perseroan serta memberikan rekomendasi perubahan atau penghentian sementara (bila perlu) bagi produk yang tidak berhasil dipasarkan dengan baik.Has conducted an evaluation on the performance and targets achievement for each insurance product offered by the Company and provided recommendations for changes or temporary suspension (if necessary) for products that have not been successfully marketed.

Melakukan pelaporan atas segala produk asuransi baru yang akan dipasarkan maupun produk asuransi yang telah dipasarkan dan mengalami perubahan kepada Otoritas Jasa Keuangan untuk memperoleh surat persetujuan atau surat pencatatan.Reports new insurance products that will be marketed or those that have been marketed and underwent changes to the Financial Services Authority to obtain approval or registration letter.

Menyiapkan seluruh dokumen keperluan pengajuan izin produk asuransi Perseroan kepada Otoritas Jasa Keuangan untuk memperoleh surat persetujuan atau surat pencatatan produk.Has prepared all required documents for the application of the Company’s insurance product license to the Financial Services Authority to obtain a letter of approval or product registration letter.

Rapat

Komite Pengembangan Produk wajib menyelenggarakan rapat internal paling sedikit 4 kali dalam setahun. Sepanjang tahun 2020, Komite Pengembangan Produk telah melaksanakan rapat sebanyak 4 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Agus Benjamin KetuaChairman 4 4 100,00

Charles Hanafie AnggotaMember 4 4 100,00

Timmie Manglassa AnggotaMember 4 4 100,00

Muharom Febriyanto AnggotaMember 4 4 100,00


The Product Development Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.

Meeting

The Product Development Committee is required to hold internal meeting at least 4 times a year. In 2020, the Product Development Committee held 4 meetings with level of attendance as following.



160


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Pengembangan Produk dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti Agus Benjamin selaku Ketua Komite Pengembangan Produk telah diungkapkan pada uraian Direksi. Sementara Charles Hanafie, selaku Anggota Komite Pengembangan Produk, telah diungkapkan pada uraian Komite Pemantau Risiko. Informasi pengembangan kompetensi anggota Komite Pengembangan Produk lainnya di tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition




Timmie Manglassa

AnggotaMember



Financial Services Indonesia Jakarta, 19-20 Februari 2020Jakarta, February 19th-20th, 2020

Insurance Innovators Indonesia

Building High Trust Relationship for Better Team Engagement


Dunamis

Online Discussion: Impact of Covid-19 on Business Interruption Policy and Legal Aspects

Daring melalui Zoom Meeting, 2 Mei 2020Online via Zoom Meeting, May 2nd, 2020


Impact of Covid-19 on Construction Risk (CAR Policy Coverage and Claim Issues)





Marine Hull Insurance - Klaim dan Antisipasi Fraud



Diskusi Online Menggugat Perusahaan AsuransiOnline Discussion on Suing Insurance Companies



General Insurance Shifting in the New Normal Daring melalui Zoom Meeting, 2 Juli 2020Online via Zoom Meeting, July 2nd, 2020






Competency development program is conducted to improve the Product Deelopment Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on competency development activities attended by Agus Benjamin as the Chairman of the Product Development Committee has been disclosed in the Board of Directors section. Meanwhile, information on Charles Hanafie, as the Product Development Committee Member, has been disclosed in the Risk Monitoring Committee section. Information on the competency development programs attended by other members of the Product Development Committee in 2020 is disclosed in the following table.


NamaName

JabatanPosition




Public Hearing Amandemen Draft Eksposur PSAK 74 Kontrak AsuransiPublic Hearing on Amendments to the Exposure Draft of PSAK 74 Insurance Contracts



Sosialisasi dan Diskusi Program Asuransi Kendaraan Bermotor Untuk Restrukturisasi Kredit Lembaga PembiayaanDissemination and Discussion of Motor Vehicles Insurance Programs for Credit Restructuring on Financing Institutions






Sharing Session Bagaimana Cara Mendaftar dan Persiapan Ujian AAMAISharing Session on How to Register and Prepare for the AAMAI Exam






Kajian Risiko Banjir Kawasan Industri Karawang - BekasiAn Assessment on Industrial Estate Flood Risk at Karawang - Bekasi


Maipark





Muharom Febriyanto

AnggotaMember



Maximizing Yours Resourcefulness and Initiatives while WFH


Dunamis

Claim Subrogation and Recovery Daring melalui Zoom Meeting, 9 Mei 2020Online via Zoom Meeting, May 9th, 2020




Worker Compensation Insurance (WCI) and Employee Liability Insurance (ELI)



General Insurance Shifting in The New Normal Daring melalui Zoom Meeting, 2 Juli 2020Online via Zoom Meeting, July 2nd, 2020


Diskusi Liability UnderwriterA Discussion on Liability Underwriter





162

NamaName

JabatanPosition







Marine Insurance Webinar Daring melalui Zoom Meeting, 19-23 Oktober 2020Online via Zoom Meeting, October 19th-23rd, 2020

Guy Carpenter


Daring melalui Zoom Meeting, 23 Oktober 2020Online via Meeting, October 23rd, 2020


Memahami 50 Klausul Polis Asuransi Marine Cargo Open Cover dari BrokerUnderstanding 50 Marine Cargo Open Cover Insurance Policy Clauses from Brokers





Komite Medis

Komite Medis bertugas memberikan rekomendasi seputar penjelasan medis sesuai dengan disiplin ilmu medis dan kedokteran. Komite Medis dibentuk guna menunjang kegiatan pelayanan produk asuransi kesehatan.

Pedoman

Perseroan telah memiliki Piagam Komite Medis yang diperbarui dan disahkan pada 4 Januari 2020. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Medis telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Medis Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition


dr. Doddy Eka Pratama KetuaChairman

2020-2022 : Surat Keputusan Direksi No. 145/DIRCS/I/2020 tanggal 3 Januari 2020.

2020-2022 : Board of Directors Decree No. 145/DIRCS/I/ 2020 dated January 3rd, 2020.dr. Ribka Anggraini Aprilia Anggota

Memberdr. Robertus Ariadi Ridwan

dr. Rudy Tjahjadi

dr. Lamsihar F B Manik

dr. Bella Ammara Karlinda

dr. Stanley Ady Saputra

Medical Committee

The Medical Committee has a duty of providing recommendations regarding medical explanations in accordance with medical disciplines. The Medical Committee was established to support service activities in health insurance products.

Guidelines

The Company already has a Medical Committee Charter which was updated and ratified on January 4th, 2020. The charter was prepared to ensure that the implementation of the Medical Committee's duties is in accordance with the GCG principles and the prevailing laws and regulations.

Composition

The composition of the Medical Committee as of December 31st, 2020 is disclosed in the following table.


NamaName

JabatanPosition


dr. Kristina Nova Johana Murniati Nauli AnggotaMember

2020-2022 : Surat Keputusan Direksi No. 145/DIRCS/I/2020 tanggal 3 Januari 2020.

2020-2022 : Board of Directors Decree No. 145/DIRCS/I/ 2020 dated January 3rd, 2020.

dr. Yenti Puspita Sari

dr. Fadhilah Ratih Ayu Kartikasari

dr. Hasyati Dwi Kinasih

dr. Richard Firmansyah

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Medis mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Medis yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Medis juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab Komite Medis, beserta realisasi program kerja di tahun 2020 dijelaskan sebagai berikut.



Melakukan evaluasi pelayanan kepada pihak tertanggung untuk hal-hal yang berkaitan medis guna menunjang dinamika operasional Perseroan.Conducts regular evaluation to the Insured in terms of medical matters to support the Company’s operational dynamics.

Melakukan evaluasi pelayanan medis secara reguler kepada pihak tertanggung dan melaporkan hasil evaluasi tersebut kepada Direksi Perseroan. Has conducted regular evaluation of medical services to the Insured and reported the results of this evaluation to the Board of Directors.

Membahas tindakan dan diagnosis medis terbaru serta memberikan masukan dalam pengambilan keputusan yang berhubungan dengan medis pada pelayanan asuransi kesehatan.Discusses the actions and the latest medical diagnostics, and provide input in making decisions related medical on health insurance services.

Melakukan tindakan dan diagnosis medis terbaru kepada pihak tertanggung, serta memberikan rekomendasi profesional kepada pihak tertanggung tersebut untuk pengambilan keputusan yang tepat terkait tindakan medis.Has conducted out the latest medical actions and diagnosis to the Insured, as well as provided professional recommendations to the Insured to make the right decisions regarding medical action.

Melakukan pembahasan dari suatu diagnosis penyakit/tindakan medis dan menyimpulkan diagnosis/tindakan medis dapat dijaminkan sesuai dengan polis Perseroan.Discusses a diagnosis of disease/current medical actions and conclude that medical diagnosis/action can be secured under the Company’s policy.

Menelaah dan membahas diagnosis penyakit atau tindakan medis dari nasabah dan memastikan bahwa diagnosis atau tindakan tersebut dapat dijamin melalui polis Perseroan dengan pemaparan yang jelas. Has conducted a review and discussion on the diagnosis of a disease or medical action of customers and ensured that the diagnosis or action can be secured through the Company’s policy with clear exposure.

Memberikan laporan ke manajemen secara berkala terkait hal-hal yang sudah dibahas oleh Komite Medis.Provides regular report to the Management concerning matters that have been discussed by the Medical Committee.

Membuat dan menyampaikan laporan kepada Manajemen Perseroan secara berkala terkait pelaksanaan kegiatan Komite Medis sepanjang tahun 2020.Made and submitted reports to the Management on a regular basis regarding the implementation of the Medical Committee’s activities throughout 2020.

Independence

In carrying out its duties and responsibilities, the Medical Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Medical Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the Medical Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company’s policies that may established during the implementation of the Committee’s duties and responsibilities.


The Medical Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.



164



Memberikan rekomendasi dalam pengambilan keputusan manajemen yang berkaitan dengan klaim medis.Provides recommendation for the Management’s decision-making process with regard to medical claims.

Memberikan saran dan rekomendasi profesional kepada manajemen dalam mengambil keputusan berkaitan dengan klaim medis. Provided professional advice and recommendations to the Management in making decisions regarding medical claims.

Melakukan analisa manajemen risiko (pencegahan/mitigasi/pengendalian) terkait hal yang berhubungan dengan analisa medis jika diperlakukan berdasarkan pembahasan dari departemen terkait.Analyzes risk management (prevention/mitigation/control) concerning matters related to the medical analysis based on the related departments’ discussion.

Melakukan analisa terkait manajemen risiko medis bersama Unit Audit Internal Perseroan serta merumuskan dan menetapkan profil risiko beserta mitigasinya.Conducted analysis related to medical risk management with the Internal Audit Unit then prepared and determined risk profiles and mitigation.

Bekerja sama dengan departemen terkait apabila analisa mengenai hal medis dibutuhkan.Works closely with the related departments if medical analysis is needed.

Melakukan kerja sama dengan Departemen Case Monitoring, Claim Health, and Underwriting untuk melakukan analisa medis dan kebijakan dalam pemberian pelayanan asuransi terkait Covid-19 kepada pihak tertanggung, termasuk nasabah dan karyawan Perseroan. Kemudian, memberikan laporan kepada Direksi Perseroan terkait kegiatan tersebut.Established a cooperation with the Case Monitoring, Claim Health, and Underwriting Department to perform medical and policy analysis in providing insurance services related to Covid-19 to the insured, including customers and Company’s employees. Then, provide reports to the Board of Directors regarding these activities.

Rapat

Sepanjang tahun 2020, Komite Medis telah melaksanakan rapat sebanyak 11 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

dr. Doddy Eka PratamaKetuaChairman 11 11 100,00

dr. Ribka Anggraini Aprilia AnggotaMember

11 10 90,91

dr. Robertus Ariadi Ridwan 11 10 90,91

dr. Rudy Tjahjadi 11 10 90,91

dr. Lamsihar F B Manik 11 11 100,00

dr. Bella Ammara Karlinda 11 9 81,82

dr. Stanley Ady Saputra 11 10 90,91

dr. Kristina Nova Johana Murniati Nauli 11 11 100,00

dr. Yenti Puspita Sari 11 11 100,00

dr. Fadhilah Ratih Ayu Kartikasari 11 11 100,00

dr. Hasyati Dwi Kinasih 11 11 100,00

dr. Richard Firmansyah 11 11 100,00

MeetingThroughout 2020, the Medical Committee has held 11 meetings with attendance levels as follows.



Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Medis dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development.

Komite APU PPT

Komite APU PPT dibentuk untuk membantu Perseroan dalam menjalankan Program Anti Pencucian Uang (APU) dan Program Pencegahan Terorisme (PPT) sebagai upaya untuk memitigasi beberapa risiko, seperti risiko hukum, risiko reputasi, risiko operasional, dan risiko kepatuhan.

Pedoman

Perseroan telah memiliki Piagam APU PPT yang diperbarui dan disahkan pada tanggal 21 Maret 2020. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite APU PPT telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite APU PPT Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition



Satini Kartika Sari KetuaChairman

HukumLegal

2020 : Surat Keputusan Direksi tanggal 21 Maret 2020.

2020 : Board of Directors Decree dated March 21st, 2020.Putut Haryo Pangasto Anggota

MemberManajemen OperasionalOperational Management

Maria Natalia Ladyawati AnggotaMember

Manajemen OperasionalOperational Management

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite APU PPT mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite APU PPT yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite APU PPT juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Competency development program is conducted to improve the Medical Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated, and documented by the People Development Department.

AML-CFT Committee

The AML-CFT Committee was established to assist the Company in the implementation of the Anti-Money Laundering (APU) and Combating the Financing of Terrorism (CFT) Program as an effort to mitigate some risks, such as legal risk, reputation risk, operational risk, and compliance risk.

Guidelines

The Company has a AML-CFT Charter which was approved on March 21st, 2020. The charter was prepared to ensure the implementation AML-CFT Committee duties are in accordance with the GCG principles as well as applicable laws and regulations.

Composition

The composition of the AML-CFT Committee as of December 31st, 2020 is disclosed in the following table.

Independence

In carrying out its duties and responsibilities, the AML-CFT Committee promotes the independence and prudence principles. The Company guarantees that the current members of the AML-CFT Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the AML-CFT Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles and practices of sound insurance business operation; as well as the Company's policies that may established during the implementation of the Committee's duties and responsibilities.



166


Tugas dan tanggung jawab Komite APU PPT beserta realisasi program kerjanya di tahun 2020 dijelaskan sebagai berikut.


Realisasi Program Kerja 2020Work Program Realization in 2020

Mengawasi pelaksanaan terkait kebijakan dan prosedur penerapan Program Anti Pencucian Uang (APU) dan Program Pencegahan Terorisme (PPT) di dalam Perseroan, serta melakukan penyesuaian dan evaluasi terhadap kebijakan tersebut.Supervises the implementation of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Programs policies and implementation procedures in the Company, as well as making adjustments and perform an evaluation on the policy.

Laporan pengawasan terhadap program APU PPT untuk periode tahun 2019 telah dilaporkan pada tahun 2020. Demikian pula, telah disusun rencana program pengawasan untuk tahun 2021.Reports on the supervision of the AML-CFT program for 2019 has been submitted in 2020. Likewise, the Company has also prepared a supervisory program plan for 2021.

Melanjutkan proses pengkinian data nasabah yang sudah berjalan secara bertahap untuk diselaraskan dengan upaya peningkatan pelayanan kepada nasabah.Continues the process of updating customer data that has been carried out gradually to be aligned with efforts to increase service to the customers.

Unit kerja yang melakukan pemrosesan data nasabah telah melakukan pengkinian data untuk nasabah baru (new business) dan nasabah perpanjangan (renewal business).The working unit that conducted the customer data processing has been updating the new business and renewal business data.

Melanjutkan proses penertiban dokumen prosedur operasi standar (SOP) untuk departemen yang berkaitan dengan marketing/commercial dalam penerapan form APU PPT.Continues the sorting out process of standard operating procedure (SOP) documents for marketing/commercial-related departments in the implementation of the AML-CFT form.

Penyesuaian terhadap SOP marketing/commercial telah dilakukan untuk beberapa Departmen Marketing/Commercial dan masih terus berjalan sampai dengan saat ini. Beberapa SOP juga dalam proses peninjauan oleh pejabat berwenang.Adjustments to the marketing/commercial SOPs have been made for several Marketing/Commercial Departments and still ongoing until now. Several SOPs are also currently being reviewed by competent officer.

Melakukan sosialisasi lanjutan tentang penerapan program APU PPT untuk karyawan di bidang marketing/commercial.Conducts further dissemination on the implementation of the AML-CFT program for employees in the marketing/commercial field.

Bekerja sama dengan Departemen Talent Management, telah melakukan sosialisasi lanjutan tentang penerapan program APU PPT kepada seluruh karyawan Perseroan, termasuk di bidang marketing/commercial. Sosialisasi ini merupakan program yang dilakukan secara rutin dan berkala, dengan materi yang dibahas pada tahun 2020 meliputi:1. Prinsip Know Your Client;2. Customer Due Diligent (CDD);3. Laporan Transaksi Keuangan Mencurigakan (LTKM);4. Pengawasan dan Sanksi; serta5. Jaminan Kerahasiaan dan Perlindungan Hukum.Have performed a collaboration with the Talent Management Department, have conducted further dissemination on the implementation of the AML-CFT program to all Company’s employees, including those in the marketing/commercial fields. This dissemination is a routine and periodic program, with topic discussed in 2020 include:1. Know Your Client Principle;2. Customer Due Diligent (CDD);3. Report on Suspicious Financial Transactions (LTKM);4. Supervision and Sanctions; and5. Guarantee of Confidentiality and Legal Protection.

Direksi melakukan penyesuaian Surat Keputusan Direksi yang memuat kebijakan tentang penerapan pedoman APU PPT berdasarkan Peraturan Otoritas Jasa Keuangan No. 23/POJK.01/2019 tentang Perubahan atas Perubahan atas Peraturan Otoritas Jasa Keuangan No. 12/POJK.01/2017 tentang Penerapan Program Anti Pencucian Uang dan Pencegahan Pendanaan Terorisme di Sektor Jasa Keuangan.The Board of Directors makes adjustments to the Decree of the Board of Directors which contains policies regarding the implementation of AML-CFT guidelines pursuant to the Financial Services Authority Regulation No. 23/POJK.01/2019 on Amendment to Amendment of Financial Services Authority Regulation No. 12/POJK.01/2017 on the Implementation of the Anti Money Laundering and Combating the Financing of Terrorism Program in the Financial Services Sector.

Penyesuaian kebijakan terkait pelaksanaan program APU PPT Perseroan dilaksanakan melalui pembaharuan dan penyesuaian Surat Keputusan Direksi No. 149/DIR-CS/III/2020 tentang Kebijakan dan Prosedur Penerapan Pencucian Uang dan Pencegahan Pendanaan Terorisme PT Lippo General Insurance Tbk yang berlaku sejak 20 Maret 2020.Policy adjustments related to the implementation of the Company’s AML-CFT program was executed by updating and adjusting the Decree of the Board of Directors No. 149/DIR-CS/III/2020 on the Implementation of Money Laundering and Combating the Financing of Terrorism Policies and Procedures at PT Lippo General Insurance Tbk, which has been in effect since March 20th, 2020.


The AML-CFT Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.



Realisasi Program Kerja 2020Work Program Realization in 2020

Bekerja sama dengan Direktorat Jenderal Kependudukan dan Pencatatan Sipil Kementerian Dalam Negeri Republik Indonesia tentang Pemanfaatan Nomor Induk Kependudukan, Data Kependudukan, dan Kartu Tanda Penduduk Elektronik dalam Layanan Asuransi Lingkup Perseroan.Collaborates with the Directorate General of Population and Civil Registration of the Ministry of Home Affairs of the Republic of Indonesia regarding the Utilization of Identity Number, Population Data, and Electronic Identity Card in the Insurance Services within Company’s Scope of Work.

Perseroan telah melakukan tanda tangan Perjanjian Kerjasama (PKS) dengan Direktorat Jenderal Kependudukan dan Pencatatan Sipil Kementerian Dalam Negeri Republik Indonesia pada tanggal 31 Maret 2020, di mana implementasi dari pemanfaatan fasilitas data kependudukan sepenuhnya mengikuti fasilitas yang disediakan oleh Dukcapil.The Company has signed a Cooperation Agreement (PKS) with the Directorate General of Population and Registration Civil Service Ministry of Home Affairs of the Republic of Indonesia on the March 31st, 2020, where the implementation of the utilization of population data facilities fully adhere to the facilities provided by Dukcapil.

Rapat

Sepanjang tahun 2020, Komite APU PPT melaksanakan rapat sebanyak 2 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Satini Kartika Sari KetuaChairman

2 2 100,00

Putut Haryo Pangasto* AnggotaMember

1 1 100,00

Maria Natalia Ladyawati* AnggotaMember

1 1 100,00

* Menjabat sebagai anggota Komite APU PPT sejak tanggal 21 Maret 2020.* Serves as a member of the AML-CFT Committee since March 21st, 2020.


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite APU PPT dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Satini Kartika Sari selaku Ketua Komite APU PPT diungkapkan pada uraian Sekretaris Perusahaan. Sementara itu, pengembangan kompetensi yang diikuti oleh Anggota Komite APU PPT lainnya, diungkapkan dalam tabel berikut.

NamaName

JabatanPosition





AnggotaMember





Dunamis




Meeting

In 2020, the AML-CFT Committee held 2 meetings with level of attendance as follows.


Competency development program is conducted to improve the AML-CFT Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on the competency development activities participated in by Satini Kartika Sari as the Chairman of AML-CFT Committee is described in the Corporate Secretary section. Information on the competency development programs participated in by other member of AML-CFT Committee is disclosed in the following table.



168

NamaName

JabatanPosition






Dunamis






Dunamis

6 Meeting Tactics to Encourage People to Say What They Really Think


Dunamis

Sharing Session Bagaimana Cara Mendaftar dan Persiapan Ujian AAMAISharing Session on How to Register and Prepare for the AAMAI Exam



Team Productivity: Assess How Your Team Spends Its Time - Without Micromanaging


Dunamis





Daring melalui Zoom Meeting, 23 Oktober 2020Online via Zoom Meeting Meeting, October 23rd, 2020




Sosialisasi Program Anti Pencucian Uang (APU) dan Program Pencegahan Terorisme (PPT)Dissemination on Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Programs





Maria Natalia Ladyawati

AnggotaMember





Dunamis

Team Productivity: Assess How Your Team Spends Its Time - Without Micromanaging

Daring melalui Zoom Meeting, 30 September 2020Online Via Zoom Meeting, September 30th, 2020

Dunamis


NamaName

JabatanPosition






Sosialisasi Program Anti Pencucian Uang (APU) dan Program Pencegahan Terorisme (PPT)Dissemination on Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Programs



Komite Anti Fraud

Komite Anti Fraud dibentuk untuk menjalankan fungsi verifikasi dan investigasi terhadap laporan indikasi atau kejadian fraud di lingkungan Perseroan.

Pedoman

Perseroan telah memiliki Piagam Anti Fraud yang diperbarui dan disahkan pada 21 Maret 2020. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Anti Fraud telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Komposisi

Komposisi Komite Anti Fraud Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

KualifikasiClassification


Samuel Hidayat KetuaChairman

Teknik Asuransi, Audit Internal, dan Administrasi BisnisInsurance Technique, Internal Audit, and Business Administration

2019-2020 : Surat Keputusan Direksi tanggal 4 Desember 2018.

2019-2020 : Board of Directors Decree dated December 4th, 2018.


Manajemen Personalia dan Manajemen Sumber Daya/SDMPersonnel Management and Human Resource Management

Lamtiar MG Tambunan AnggotaMember

Underwriting, Manajemen, dan Teknik AsuransiUnderwriting, Management, and Insurance Technique

Anti-Fraud Committee

The Anti-Fraud Committee was established to carry out the verification and investigation function on any report of fraud indication or incidents within the Company.

Guidelines

The Company has a Anti-Fraud Charter which was updated and ratified on March 21st, 2020. The charter was prepared to ensure the implementation of duties of the Anti-Fraud Committee are in accordance with the GCG principles and applicable laws and regulations.

Composition

The composition of the Anti-Fraud Committee as of December 31st, 2020 is disclosed in the following table.



170

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Anti Fraud mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Anti Fraud yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Anti Fraud juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab Komite Anti Fraud beserta realisasi program kerjanya di tahun 2020 dijelaskan sebagai berikut.



Menyusun, membuat, dan menyampaikan laporan strategi anti fraud Perseroan yang diwajibkan oleh Otoritas Jasa Keuangan.Prepares, makes, and submits reports on anti-fraud strategies that are required by the Financial Services Authority.

Laporan Komite Anti Fraud antara lain memuat pelaksanaan rapat berkala untuk memantau dan membahas kondisi dan kebijakan terkait manajemen fraud; review Piagam Anti Fraud, Kode Etik, dan Peraturan Perusahaan; serta kampanye kebijakan anti fraud. Report produced by the Anti-Fraud Committee includes, among other things, the implementation of periodic meeting to monitor and discuss conditions and policies related to fraud management; review of the Anti-Fraud Charter, Code of Ethics, and Company Regulations; as well as anti-fraud policy campaigns.

Rapat

Selama tahun 2020, Komite Anti Fraud melaksanakan rapat sebanyak 1 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Samuel Hidayat KetuaChairman

1 1 100,00


1 1 100,00

Lamtiar MG Tambunan AnggotaMember

1 1 100,00


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Anti Fraud dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Samuel Hidayat selaku Ketua Komite Anti Fraud diungkapkan pada

Independence

In carrying out its duties and responsibilities, the Anti-Fraud Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Anti-Fraud Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the Anti-Fraud Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company’s policies that may established during the implementation of the Committee’s duties and responsibilities.


The Anti-Fraud Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.

MeetingIn 2020, the Anti Fraud Committee held 1 meeting with the level of attendance as follows.


Competency development program is conducted to improve the Anti-Fraud Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on the competency development activities participated in by Samuel Hidayat as the Chairman of Anti-


uraian Unit Audit Internal. Begitu juga dengan Susanti Halim, anggota Komite Anti Fraud, yang telah diungkapkan pada uraian Komite Nominasi dan Remunerasi Sementara itu, pengembangan kompetensi yang diikuti oleh Anggota Komite Anti Fraud lainnya, diungkapkan dalam tabel berikut.

NamaName

JabatanPosition




Lamtiar MG Tambunan

AnggotaMember

Leaders’ Inspiring Camp Hanoi, Vietnam, 15-18 Januari 2020Hanoi, Vietnam, January 15th-18th, 2020


Together As One - Batch I Cipanas, 7-9 Februari 2020Cipanas, February 7th-9th 2020




Dunamis



Dunamis

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Dunamis

Virtual Presentation: Persuade Audience to a Decision


Dunamis



Otoritas Jasa KeuanganFinancial Service Authority



Komite Penanganan Pengaduan Konsumen

Komite Penanganan Pengaduan Konsumen dibentuk dalam rangka membantu Direksi dalam meningkatkan dan menjaga kualitas pelayanan terhadap konsumen, salah satunya melalui fasilitas pelayanan dan pengaduan konsumen.

Pedoman

Perseroan telah memiliki Piagam Penanganan Pengaduan Konsumen yang diperbarui dan disahkan pada 2 Januari 2020. Piagam tersebut disusun untuk menjamin pelaksanaan tugas Komite Penanganan Pengaduan Konsumen telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Fraud Committee is described in the Internal Audit Unit section. So are information on Susanti Halim, Anti-Fraud Committee member, is described in the Remuneration and Nomination Committe section. Information on the competency development programs participated in by other member of Anti-Fraud Committee is disclosed in the following table.

Consumer Complaint Handling Committee

The Consumer Complaint Handling Committee was established in order to assist the Board of Directors in improving and maintaining the quality of service to consumers, one of which is through consumer complaint and service facilities.

Guidelines

The Company has a Customer Complaint Management Charter which was updated and ratified on January 2nd, 2020. The charter was prepared to ensure the implementation of the duties of the Customer Complaint Management Committee are in accordance with the GCG principles and applicable laws and regulations.



172

Komposisi

Komposisi Komite Penanganan Pengaduan Konsumen Perseroan per 31 Desember 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition

KualifikasiClassification

Periode Menjabat dan Dasar Pengangkatan

Office Tenure and Basis of Appointment

Gilbert Deddy Naibaho KetuaChairman

Underwriting, Manajemen, dan Teknik AsuransiUnderwriting, Management, and Insurance Technique

2019-2020 : Surat Keputusan Direksi tanggal 3 Mei 2019.

2019-2020 : Board of Directors Decree dated May 3rd, 2019.


HukumLegal

Qamaruzzaman El Muzakkir Ikhwan AnggotaMember

Teknik Asuransi dan Manajemen OperasiInsurance Technique and Operation Management

Independensi

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Penanganan Pengaduan Konsumen mengedepankan prinsip independensi dan kehati-hatian. Perseroan menjamin bahwa anggota Komite Penanganan Pengaduan Konsumen yang saat ini menjabat bebas dari segala intervensi, baik dari Dewan Komisaris, Direksi, ataupun Pemegang Saham. Selain itu, Komite Penanganan Pengaduan Konsumen juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawab komite.


Tugas dan tanggung jawab Komite Penanganan Pengaduan Konsumen beserta realisasi program kerjanya di tahun 2020 dijelaskan sebagai berikut.



Menyusun pedoman, aturan pelaksanaan, serta aturan teknis pelayanan dan pengaduan konsumen yang berlaku di dalam Perseroan.Prepares guidelines, implementation rules, as well as technical rules in consumer service and consumer complaints that apply in the Company.

Menyusun Pedoman Layanan Pengaduan Konsumen.Prepared a Consumer Complaint Service Guidelines.

Melaporkan kepada Direksi mengenai proses layanan pengaduan, serta memberikan rekomendasi untuk perbaikan dan pengembangan proses layanan pengaduan.Reports to the Board of Directors on the complaint service process, as well as provide recommendations for complaint service process improvement and development.

Menyampaikan laporan berkala tentang pengaduan yang masuk dan telah diselesaikan, disertai rekomendasi tindak lanjut perbaikan yang tepat terkait pelayanan penyelesaian pengaduan kepada tertanggung.Submitted periodic reports on incoming and completed complaints, accompanied by recommendations for appropriate improvement follow-up related to complaint resolution services to the insured.

Composition

The composition of the Consumer Complaint Handling Committee as of December 31st, 2020 is disclosed in the following table.

Independence

In carrying out its duties and responsibilities, the Consumer Complaint Handling Committee promotes the independence and prudence principles. The Company guarantees that the current members of the Consumer Complaint Handling Committee are free from any intervention, either from the Board of Commissioners, Board of Directors, or the Shareholders. In addition, the Consumer Complaint Handling Committee is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with the prevailing laws and regulations in the insurance field and capital market; ethical values, principles, and practices of sound insurance business operation; as well as the Company’s policies that may established during the implementation of the Committee’s duties and responsibilities.


The Consumer Complaint Handling Committee’s duties and responsibilities with the work program realization in 2020 are described as follows.




Menyusun dan menyampaikan laporan layanan pengaduan kepada Otoritas Jasa Keuangan melalui Direksi.Prepares and submits a complaint service report to the Financial Services Authority through the Board of Directors.

Menyampaikan Laporan Pengaduan Konsumen dan Tindak Lanjut Pelayanan dan Penyelesaian Konsumen serta Laporan Self Assesment Pelayanan dan Pengaduan Konsumen, dengan merujuk data triwulan yang telah disusun.Submitted Reports on Consumer Complaint and Follow Up on Consumer Services and Settlements as well as Self-Assessment Reports on Consumer Complaints and Services, with reference to prepared quarterly data.

Rapat

Sepanjang tahun 2020, Komite Penanganan Pengaduan Konsumen telah melaksanakan rapat sebanyak 3 kali dengan tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition




(%)

Gilbert Deddy Naibaho KetuaChairman

3 3 100,00


3 3 100,00

Qamaruzzaman El Muzakkir Ikhwan

AnggotaMember

3 3 100,00


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Komite Penanganan Pengaduan Konsumen dalam menjalankan tugas dan tanggung jawabnya. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Gilbert Deddy Naibaho selaku Ketua Komite Penanganan Pengaduan Konsumen diungkapkan pada uraian Direksi. Begitu juga dengan Satini Kartika Sari, anggota Komite Penanganan Pengaduan Konsumen, yang telah diungkapkan pada uraian Sekretaris Perusahaan. Sementara itu, pengembangan kompetensi yang diikuti oleh Anggota Komite Penanganan Pengaduan Konsumen lainnya, diungkapkan dalam tabel berikut.

NamaName

JabatanPosition


Subject



Qamaruz-zaman El Muzakkir Ikhwan

AnggotaMember

Leaders’ Inspiring Camp Hanoi, Vietnam, 15-18 Januari 2020Hanoi, Vietnam, January 15th-18th, 2020


How to Boost Your Sales During the Pandemic



General Insurance Shifting in The New Normal



Meeting

Throughout 2020, the Consumer Complaint Handling Committee has held 3 meetings, with level of attendance as follows.


Competency development program is conducted to improve the Consumer Complaint Handling Committee productivity in carrying out its duties and responsibilities. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on the competency development activities participated in by Gilbert Deddy Naibaho as the Chairman of Consumer Complaint Handling Committee is described in the Board of Directors section. Information on the competency development activities participated in by Satini Kartika Sari, a member of the Consumer Complaint Handling Committee, is described in the Corporate Secretary section. Information on the competency development activities participated in by other member of Consumer Complaint Handling Committee is disclosed in the following table.



174

Sekretaris Perusahaan Corporate Secretary

Sekretaris Perusahaan bertugas sebagai penghubung komunikasi antara Perseroan dengan Pemegang Saham dan pemangku kepentingan lainnya. Sekretaris Perusahaan diangkat dan diberhentikan berdasarkan keputusan Direksi, serta bertanggung jawab langsung kepada Direksi Perseroan.

Pedoman

Pelaksanaan tugas dan tanggung jawab Sekretaris Perusahaan berpedoman pada Peraturan Otoritas Jasa Keuangan No. 35/POJK.04/2014 tentang Sekretaris Perusahaan Emiten atau Perusahaan Publik.

Profil Sekretaris Perusahaan

Sekretaris Perusahaan dijabat oleh Satini Kartika Sari sejak 2003 berdasarkan Surat Penunjukkan No. 049/HRD/LGI/VII/2003 tanggal 31 Juli 2003. Informasi terkait profil Sekretaris Perusahaan telah disampaikan pada bab profil perusahaan dalam Laporan Tahunan ini.

NamaName

JabatanPosition


Subject




Daring melalui Zoom Meeting, 23 Oktober 2020Online via Zoom Meeting October 23rd, 2020


Pengaturan Kelas Rawat Inap Standar Bagi Peserta Jaminan Kesehatan Nasi-onal (JKN)Arrangement of Standard Inpatient Classes for JKN (National Health Insur-ance) Participants







The Corporate Secretary serves as a communication liaison between the Company and the Shareholders as well as other stakeholders. The Corporate Secretary is appointed and dismissed based on the decision of the Board of Directors, and is directly responsible to the Board of Directors.

Guidelines

The implementation of the Corporate Secretary duties and responsibilities refers to the Financial Services Authority Regulation No. 35/POJK.04/2014 on Corporate Secretary of Issuers or Public Companies.

Profile of the Corporate Secretary

Corporate Secretary held by Satini Kartika Sari since 2003 based on Letter of Appointment No. 049/HRD/LGI/VII/2003 dated July 31st, 2003. Information related to the profile of the Corporate Secretary has been presented in the Company Profile chapter of this Annual Report.



Tugas dan tanggung jawab Sekretaris Perusahaan beserta realisasi program kerja di tahun 2020 dijelaskan sebagai berikut.



Memastikan pelaksanaan RUPS Tahunan, RUPS Luar Biasa, dan Public Expose sesuai dengan peraturan yang berlaku di bidang pasar modal.Ensures that the implementation of Annual GMS, Extraordinary GMS, and public expose are in accordance with the applicable laws and regulations on the capital market.

Melaksanakan RUPS Tahunan 2020 dan Public Expose pada tanggal 7 Agustus 2020.Held the 2020 Annual GMS and Public Expose on August 7th, 2020.

Menyediakan informasi kepada seluruh Pemegang Saham secara tepat waktu, akurat, dan bertanggung jawab berdasarkan pada prinsip transparansi.Provides information to all Shareholders in a timely, accurate, and responsible manner in accordance with the transparency principle

Informasi untuk Pemegang Saham dan pemangku kepentingan terkait Perseroan telah dimuat dan dipublikasikan di dalam situs web Perseroan.Company-related information for the Shareholders and stakeholders have been upload and published on the Company’s website.

Memantau perkembangan pasar modal dan industri asuransi untuk memberikan masukan kepada Direksi mengenai kepatuhan dan ketentuan lain yang berlaku terkait pelaksanaan GCG.Monitors the development in the capital market and Insurance Industry to provide insight to the Board of Directors regarding compliance with the regulations on the capital market and insurance industry as well as other applicable regulations on GCG implementation.

Memberikan informasi setiap perkembangan informasi peraturan terbaru di bidang asuransi dan pasar modal, serta memberikan masukan kepada Dewan Komisaris dan Direksi untuk mematuhi ketentuan peraturan dan perundang-undangan yang berkaitan dengan pasar modal dan industri asuransi. Provided information on every latest regulatory information in insurance and capital market sector, as well as provided input to the Board of Commissioners and Board of Directors to comply with the provisions of laws and regulations relating to capital market and insurance industry.

Memastikan bahwa semua izin-izin usaha yang diperlukan oleh Perseroan tersedia dan berlaku.Ensures that all necessary business permits are available and valid.

Memastikan izin-izin usaha dan izin lainnya yang harus dimiliki Perseroan masih berlaku.Ensured that business permits and other permits that must be owned by the Company are still valid.

Melaksanakan kegiatan sekretariat lainnya.Performs other secretariat activities.

Memastikan seluruh kegiatan administrasi Perseroan berjalan dengan baik dan benar, sesuai ketentuan yang berlaku.Ensured that all administrative activities of the Company run properly and correctly, in accordance with applicable regulations.

Memastikan semua laporan kepada regulator industri asuransi, pasar modal, dan instansi terkait lainnya disampaikan secara tepat waktu.Ensures that all reports are submitted in a timely manner to the regulators of the insurance industry and capital market as well as other related institutions.

Sepanjang tahun 2020, Sekretaris Perusahaan telah menyampaikan laporan berkala dan laporan insidentil kepada regulator industri asuransi pasar modal, dan instansi terkait dengan tepat waktu, termasuk melakukan keterbukaan informasi yang diperlukan sesuai dengan peraturan yang berlaku.Throughout 2020, the Corporate Secretary has submitted periodic and incidental reports to the capital market and insurance industry regulators, and other related agencies in a timely manner, including implement necessary information disclosure in accordance with applicable regulations.

Menyelenggarakan dan mendokumentasikan rapat Direksi dan/atau Dewan Komisaris.Organizes and documents the meetings of the Board of Directors and/or the Board of Commissioners.

Memastikan penyelenggaraan rapat Dewan Komisaris dan Direksi telah dilaksanakan sesuai peraturan tata kelola perusahaan yang baik yang berlaku dan telah didokumentasikan dengan baik.Ensured that the Board of Commissioners and the Board of Directors meetings have been implemented in accordance with applicable good corporate governance regulations and have been well documented.


Pengembangan kompetensi dilakukan untuk mendukung produktivitas Sekretaris Perusahaan dalam menjalankan tugas dan tanggung jawabnya, serta sebagai wadah untuk memperluas wawasan mengenai perkembangan bisnis yang dijalankan oleh Perseroan. Pelaksanaan kegiatan pengembangan kompetensi tersebut dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Sekretaris Perusahaan di tahun 2020 diungkapkan pada tabel berikut.


The duties and responsibilities of the Corporate Secretary along with the work program realization in 2020 are described as follows.


Competency development program is conducted to support the Corporate Secretary productivity in carrying out his/her duties and responsibilities as well as a forum to broaden the horizons regarding the Company’s business developments. The implementation of these competency development activities is managed, coordinated and documented by the People Development Department. Information on the competency development activities participated in by the Corporate Secretary in 2020 is disclosed in the following table.



176

Topik Pengembangan KompetensiCompentency Development Subject





Liaison Officer Gathering


Asosiasi Asuransi Umum Indonesia (AAUI)General Insurance Association of Indonesian

Increase Your Trust Within Your Team While WFH Daring melalui GoTo Meeting, 13 April 2020Online via GoTo Meeting, April 13th, 2020

Dunamis

Sosialisasi Otoritas Jasa Keuangan - Rencana Penyelenggara dan Pelaksana Rapat Umum Pemegang SahamFinancial Services Authority Dissemination on Plans for Organization and Implementation of General Meeting of Shareholders

Jakarta, 5 Mei 2020Jakarta, May 5th, 2020

Otoritas Jasa KeuanganFinancial Services Authority

Diskusi Online Menggugat Perusahaan AsuransiOnline Discussion on Suing Insurance Companies

Daring melalui Zoom Meeting, 25 Juni 2020Online Via Zoom Meeting, June 25th, 2020

Ahli Asuransi Learning Center (AALC)Learning Center Insurance Expert

Mengelola Disrupsi KembarManaging Twin Disruption

Daring melalui Webinar, 3 Juli 2020Online via Webinar, July 3rd, 2020

Lembaga Pengembangan Perbankan Indonesia (LPPI) Indonesia’s Banking Development Institute

Panduan Risiko Hukum dan Implikasinya di OrganisasiGuide to Legal Risks and Their Implications in Organizations



Business Wisdom Over the Crisis Daring melalui Zoom Meeting, 9 Juli 2020Online via Zoom Meeting, July 9th, 2020


Teknik Mengelola CSR yang Efektif dan BerkelanjutanTechniques in Managing an Effective and Sustainable CSR

Jakarta, 19 Juli 2020Jakarta, July 19th, 2020

Milenial Nusantara

Mengelola PerubahanManaging Changes

Daring melalui Zoom Meeting, 1 Agustus 2020 Online via Zoom Meeting, August 1st,2020

Magnet Solusi Integra

Melepas dengan Hati (Selaras Tubuh, Pikiran, dan Jiwa untuk Berkarya)Removing with Heart (Harmonizing Body, Mind, and Spirit to Work)

Daring melalui Zoom Meeting, 15 Agustus 2020 Online via Zoom Meeting, August 15th, 2020

Magnet Solusi Integra

How to Lead the Millenial Generation Daring melalui Zoom Meeting, 26 September 2020Online via Zoom Meeting, September 26th, 2020

HR WIKIpedia Indonesia

Edukasi Literasi Keuangan - Property, Future & Us (Millenial)Financial Literacy Education - Property, Future & Us (Millennial)



Financial Revolutionary Daring melalui Zoom Meeting, 13 November 2020Online via Zoom Meeting, November 13th, 2020

Tung Desem Waringin

CEO Networking 2020Daring melalui Zoom Meeting, 24 November 2020Online via Zoom Meeting, November 24th, 2020


Sosialisasi Mengenai Pencegahan Fraud dan Tindak Pidana di Bidang PerasuransianDissemination on Fraud Prevention and Crime Act in the Insurance Sector




Unit Audit InternalInternal Audit Unit

Unit Audit Internal bertugas memberikan keyakinan dan konsultasi yang bersifat independen dan objektif. Unit Audit Internal juga berfungsi dalam memastikan pelaksanaan sistem pengendalian internal, sistem manajemen risiko, dan tata kelola perusahaan berjalan dengan baik dan efektif.

Pedoman

Perseroan telah memiliki Piagam dan Panduan Audit Internal yang disahkan pada 1 Oktober 2015. Piagam dan panduan tersebut disusun dan dievaluasi secara berkala untuk menjamin pelaksanaan tugas Unit Audit Internal telah sesuai dengan prinsip-prinsip GCG dan peraturan perundang-undangan yang berlaku.

Struktur dan Kedudukan

Unit Audit Internal dipimpin oleh Kepala Unit Audit Internal yang diangkat dan diberhentikan oleh Presiden Direktur dengan persetujuan Dewan Komisaris. Selain itu, Unit Audit internal memiliki kewenangan untuk berkomunikasi secara langsung dengan Dewan Komisaris dan Komite Audit. Adapun kedudukan Unit Audit Internal dalam struktur organisasi Perseroan digambarkan sebagai berikut.

DEWAN KOMISARISBOARD OF COMMISSIONERS

PRESIDEN DIREKTURPRESIDENT DIRECTOR

AUDIT INTERNALINTERNAL AUDIT

KOMITE AUDITAUDIT COMMITTEE

Komposisi, Kualifikasi, dan Profil

Kepala Audit Internal saat ini dijabat oleh Samuel Hidayat sejak 2017 berdasarkan Surat Keputusan Pengangkatan No. 212/LI-HR/I/2017. Profil Kepala Unit Audit Internal telah diungkapkan pada bab profil perusahaan dalam Laporan Tahunan ini. Sementara itu, anggota Unit Audit Internal hingga akhir Desember 2020 terdiri dari 6 orang, dengan jenjang jabatan manajer, supervisor, dan officer.

The Internal Audit Unit has a duty to provide assurance and consultation that is independent and objective. The Internal Audit Unit also has a function to ensure that the implementation of the internal control system, risk management system and corporate governance runs well and effectively.

Guidelines

The Company has an Internal Audit Charter and Guidelines which were approved on October 1st, 2015. The charter and guidelines were prepared and evaluated periodically to ensure that the implementation of the Internal Audit Unit's duties is in accordance with the GCG principles and the prevailing laws and regulations.

Structure and Position

The Internal Audit Unit is led by the Head of Internal Audit Unit who is appointed and dismissed by the President Director with the approval of the Board of Commissioners. In addition, the Internal Audit Unit has the authority to communicate directly with the Board of Commissioners and the Audit Committee. The Internal Audit Unit position within the organizational structure is described as follows.

Composition, Qualification, and Profile

Current Head of Internal Audit is held by Samuel Hidayat since 2017 pursuant to the Appointment Decree No. 212/LI-HR/I/2017. The profile of the Head of the Internal Audit Unit has been disclosed in the Company Profile chapter of this Annual Report. Meanwhile, the Internal Audit Unit members until the end of December 2020 consist of 6 people, with levels of position include manager, supervisor, and officer.



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IndependenceIn carrying out its duties and responsibilities, the Internal Audit Unit prioritizes the independence and prudence principles. The Internal Audit Unit is also free from all conflicts of interest and influence or pressure from any party that is not in accordance with laws and regulations in the field of insurance and the capital market; ethical values, principles, and practices of sound insurance business operation; as well as Company policies that may occur during the implementation of its duties and responsibilities.


The duties and responsibilities of the Internal Audit Unit along with the work program realization in 2020 are described as follows.

Independensi

Dalam menjalankan tugas dan tanggung jawabnya, Unit Audit Internal mengutamakan prinsip independensi dan kehati-hatian. Unit Audit Internal juga bebas dari segala benturan kepentingan dan pengaruh atau tekanan dari pihak manapun yang tidak sesuai dengan peraturan perundang-undangan di bidang perasuransian dan pasar modal; nilai-nilai etika, prinsip, dan praktik penyelenggaraan usaha perasuransian yang sehat; serta kebijakan Perseroan yang mungkin terjadi selama pelaksanaan tugas dan tanggung jawabnya.


Tugas dan tanggung jawab Unit Audit Internal beserta realisasi program kerja di tahun 2020 dijelaskan sebagai berikut.



Melakukan kaji ulang dan menilai kecukupan serta efektivitas struktur pengendalian internal dalam semua aktivitas, serta memberikan informasi kepada manajemen mengenai kondisi Perseroan berdasarkan hasil kegiatan audit dan memberikan saran perbaikan kepada pihak yang diaudit.Reviews and assesses the adequacy and effectiveness of the Internal Control Structure in all activities and provide information to the Management regarding the Company’s condition based on the audit activity results and suggests improvements to the auditee.

Melakukan penelaahan terhadap kecukupan dan efektivitas struktur pengendalian internal pada semua aktivitas operasional Perseroan secara sistematis dan objektif. Selanjutnya, melaporkan hasil penelaahan tersebut kepada Manajemen disertai saran dan masukan perbaikan yang profesional kepada pihak yang diaudit.Has reviewed the adequacy and effectiveness of the internal control structure in all Company’s operational activities in a systematic and objective manner. Next, reported the results of the review to the Management along with suggestions and professional corrections to the auditee.

Membantu manajemen untuk mengidentifikasi risiko dalam semua aktivitas usaha dan masalah-masalah yang dihadapi atau mungkin terjadi, dan memberikan saran perbaikan sehingga risiko bisa diminimalkan ke tingkat yang dapat ditolerir.Assists the Management in identifying risks in all business activities and problems encountered or likely to occur, and suggest improvements so that the risks can be minimized to a tolerable level.

Melakukan identifikasi terhadap setiap kemungkinan risiko-risiko yang akan dihadapi oleh Perseroan dengan menyusun profil risiko dan menetapkan langkah mitigasi. Selanjutnya, melakukan sosialisasi mengenai risiko tersebut kepada seluruh unit kerja Perseroan, terutama kepada pemilik risiko.Has identified every possible risk that will be faced by the Company by preparing a risk profile and determining mitigation measures. Furthermore, disseminating information about these risks to all working units, especially to the risk owners.

Menyusun dan melaksanakan Rencana Audit Tahunan dan tugas lainnya sesuai dengan permintaan Presiden Direktur dan/atau Komite Audit.Develops and implements the Annual Audit Plan and other tasks as requested by the President Director and/or the Audit Committee.

Melaksanakan kegiatan audit internal tahunan sesuai dengan arahan Presiden Direktur. Sepanjang tahun 2020, Unit Audit Internal telah melaksanakan kegiatan audit di kantor pusat, kantor cabang/pemasaran, dan masing-masing unit kerja Perseroan.Has conducted annual internal audit activities in accordance with the direction of the President Director. Throughout 2020, the Internal Audit Unit has conducted audit activities at the Head Office, branch/marketing offices, and each working unit.

Membuat dan menerbitkan laporan hasil audit secara periodik dengan tepat waktu kepada Presiden Direktur dan Dewan Komisaris melalui Komite Audit.Prepares and publishes periodic audit reports in a timely manner to the President Director and Board of Commissioners, through the Audit Committee.

Membuat Laporan Hasil Temuan Audit beserta rekomendasi profesional dan objektif. Kemudian, menyampaikan laporan tersebut secara langsung kepada Presiden Direktur dan Dewan Komisaris melalui Komite Audit.Prepared a Report of Audit Findings along with professional and objective recommendations. Then, submitted the report directly to the President Director and the Board of Commissioners through the Audit Committee.

Membantu dalam penyelidikan/investigasi atas aktivitas kecurangan yang dicurigai dan memberitahukan Presiden Direktur dengan tembusan kepada Dewan Komisaris melalui Komite Audit.Assists in the inquiry/investigation of suspected fraudulent activity and notify the President Director with a copy to the Board of Commissioners through the Audit Committee.

Melakukan investigasi terhadap aktivitas yang dicurigai dan berpotensi memiliki benturan kepentingan. Kegiatan investigasi tersebut dilaporkan kepada Presiden Direktur dengan tembusan kepada Dewan Komisaris melalui Komite Audit. Conducted investigations on suspected activities with potential of having conflict of interest. These investigative has been reported to the President Director with a copy to the Board of Commissioners through the Audit Committee.




Melakukan pemantauan terhadap tindakan perbaikan yang dilakukan oleh pihak yang diaudit dari hasil temuan audit dan melaporkan temuan audit yang tidak ditindaklanjuti oleh pihak yang diaudit kepada Presiden Direktur dengan tembusan kepada Dewan Komisaris melalui Komite Audit.Monitors the corrective actions taken by the auditee on the audit findings and report audit findings that are not followed up by the auditee to President Director with a copy to the Board of Commissioners through the Audit Committee.

Mengawasi dan memantau kegiatan/tindakan perbaikan pada masing-masing unit kerja yang telah diaudit. Hasil tindakan perbaikan tersebut kemudian diminta pertanggungjawabannya dalam bentuk laporan. Selanjutnya, Unit Audit Internal melaporkan tindakan perbaikan yang dilakukan oleh masing-masing unit kerja kepada Presiden Direktur dan Dewan Komisaris melalui Komite Audit. Presiden Direktur memberikan penegasan bagi unit kerja yang tidak melakukan tindakan perbaikan setelah dilaksanakannya kegiatan audit. Has supervised and monitored corrective activities/actions in each working unit that has been audited. The results of these corrective actions were then held accountable in the form of a report. Next, the Internal Audit Unit reported the corrective actions taken by each working unit to the President Director and the Board of Commissioners through the Audit Committee. The President Director sent a reminder to the working unit that did not take corrective action after receiving audit recommendations.

Menyiapkan laporan pelaksanaan audit dan pokok-pokok hasil audit yang disampaikan kepada regulator.Prepares audit reports and summaries to be submitted to the regulator.

Membuat laporan pelaksanaan kegiatan audit dan pokok-pokok hasil audit sepanjang tahun 2020 serta dilaporkan kepada regulator secara berkala.Prepared eports on the implementation of audit activities and the main points of audit results throughout 2020 and reported it to regulators periodically.

Membuat laporan secara insidental kepada pihak manajemen atas temuan audit yang diperkirakan dapat mengganggu kelangsungan usaha Perseroan.Prepares incidental reports to the Management on audit findings that could adversely affect the Company’s business continuity.

Membuat dan menyampaikan laporan insidental kepada manajemen terkait temuan audit yang dapat mengganggu jalannya aktivitas operasional. Prepared and submitted incidental reports to the Management related to audit findings that could disrupt the Company’s operational activities.

Berperan sebagai konsultan bagi pihak-pihak internal Perseroan yang membutuhkan, terutama yang menyangkut ruang lingkup tugas audit internal.Serves as a consultant for the Company’s internal parties in need, particularly in terms of the scope of internal audit tasks.

Menjalankan fungsi sebagai konsultan bagi pihak atau unit kerja Perseroan dengan melakukan forum diskusi atau rapat kerja untuk membahas hal-hal terkait pelaksanaan audit internal di dalam Perseroan. Performed the function as a consultant for parties or working units by organizing discussion forums or work meetings to discuss matters related to the implementation of internal audit.

Melaksanakan pendidikan secara berkelanjutan dan sesuai dengan kebutuhan staf audit yang kompeten dan profesional dengan kecukupan pengetahuan, keahlian, pengalaman, dan kualifikasi.Continuously participates in appropriate education activities in accordance with the need of competent and professional audit staff with sufficient knowledge, skills, experience, and qualifications.

Mengikuti program pengembangan kompetensi yang diadakan oleh pihak internal ataupun pihak eksternal Perseroan, melalui pelatihan dan pendidikan, seminar, workshop, atau melakukan pengembangan kompetensi secara mandiri melalui buku, webinar, forum discussion group, dan internet.Has participated in competency development programs held by the internal or external parties, through training and education programs, seminars, workshops, or conducted self-development through books, webinars, forums discussion group, and the internet.

Wilayah Kerja

Pada tahun 2020, Unit Audit Internal telah melaksanakan kegiatan audit di kantor pusat dan di kantor cabang/pemasaran sesuai dengan rencana kerja sebagaimana diungkapkan pada tabel berikut.

Kegiatan AuditAudit Activity

RencanaPlan

Realisasi Realization

PencapaianAchievement

Monitoring seluruh unit bisnis dan unit kerjaBusiness unit and work unit monitoring 30 30 100,00%

Pemeriksaan KhususSpecial audit - - -

Pelaporan profil risiko cabang dan konsolidasi hasil pemeriksaan audit residen per cabangReporting risk profile in branches and results of resident audit per branch - - -

Review Laporan Keuangan InterimInterim Financial Statements review - - -

Working Area

In 2020, the Internal Audit Unit carried out audit activities at the Head Office and at the marketing branch offices according to the Work Plan as described in the following table.



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Pengembangan kompetensi dilakukan sebagai wadah bagi Unit Audit Internal untuk memperluas wawasan guna memperbaharui informasi terkait pelaksanaan kegiatan audit di dalam Perseroan. Kegiatan pengembangan kompetensi dikelola, dikoordinir, dan didokumentasikan oleh Departemen People Development. Informasi mengenai kegiatan pengembangan kompetensi yang diikuti oleh Unit Audit Internal di tahun 2020 diungkapkan pada tabel berikut.

NamaName

JabatanPosition




Samuel Hidayat

Dept. Head - Internal Audit and Quality Assurance



Increase Your Trust Within Your Team While WFH


Dunamis

Integrating Risk Into Strategy and Performance Daring melalui Webinar, 14 April 2020Online via Webinar, April 14th, 2020

The Institute Internal Auditors Indonesia (IIA)

Time To Take Care Our Most Important Assets Daring melalui GoTo Meeting, 29 April 2020Online via GoTo Meeting, April 29th, 2020

Dunamis

Working Virtually Through Disruption Daring melalui GoTo Meeting, 11 Mei 2020Online via GoTo Meeting, May 11th, 2020

Dunamis

Online Auditor Ngabuburit Daring melalui Zoom Meeting, 11 Mei 2020Online via Zoom Meeting, May 11th, 2020


Diskusi Panel - Three Lines Sebagai Katalisator New NormalPanel Discussion - Three Lines as the New Normal Catalyst



The Role of Internal Auditor in Building Business Resilience

Daring melalui Zoom Meeting, 20 November 2020Online via Zoom Meeting, November 20th 2020


RBIA Challenge and Cybersecurity Risk Assurance

Daring melalui Zoom Meeting, 23 November 2020Online via Zoom Meeting, November 23rd, 2020





Arby Winton Internal Audit Senior Officer

Choosing Proactive Response During Hardtimes Daring melalui GoToMeeting, 22 April 2020Online via GoToMeeting, April 22nd, 2020

Dunamis

Invest Your Time, Attention, Energy in the Right Spot


Dunamis


Competency development is conducted as a forum for the Internal Audit Unit to broaden its horizons to update information related to the implementation of audit activities. Competency development activities are managed, coordinated, and documented by the People Development Department. Information regarding competency development activities that the Internal Audit Unit participated in in 2020 is disclosed in the following table.


NamaName

JabatanPosition




Audit Plan in the New Normal Daring melalui Zoom Meeting, 4 November 2020Online via Zoom Meeting, November 4th, 2020


Marisa Trianti

Internal Audit Senior Officer

Back to Work - Are You People, Process and System Ready

Daring melalui GoToMeeting, 8 Juni 2020Online via GoToMeeting, June 8th, 2020

Dunamis

Invest Your Time, Attention, Energy in the Right Spot


Dunamis





Sylvia Angelia

Internal Audit Senior Officer

Training dan Diskusi Manajemen Risiko Perusahaan AsuransiTraining and Discussion of Risk Management at Insurance Companies



Stress-Free Productivity During High Pressure Situation: Skills to Regain Control


Dunamis





Nadia Erlikasna Br Pandia

Quality Assurance Senior Officer

Making Your Working from Home Daring melalui GoTo Meeting, 24 April 2020Online via GoTo Meeting, April 24th, 2020

Dunamis

Training dan Diskusi Manajemen Risiko Perusahaan AsuransiTraining and Discussion of Insurance Company Risk Management


Ahli Asuransi Learning Center (AALC)Insurance ExpertLearning Center

How to Get Along with Every One: Skills for Remote Collaboration


Dunamis

Edukasi Literasi Keuangan - Financial Planner DPLK ManulifeFinancial Literacy Education - Financial Planner DPLK Manulife


PT Lippo GeneralInsurance Tbk(Internal)



Sosialisasi APU PPTAML-CFT Socialization





182

NamaName

JabatanPosition




Yashinta Budiyanti

Quality Assurance Officer

Internal Audit of ISO 9001:2015 Training Daring melalui Zoom Meeting, 29 April 2020Online via Zoom Meeting, April 29th, 2020


Adapting - New Normal Behavior Daring melalui GoTo Meeting, 15 Mei 2020Online via GoTo Meeting, May 15th, 2020

Dunamis

Pengenalan ISO 9001Introduction to ISO 9001

Daring melalui Zoom Meeting, 3 September 2020Online via Zoom Meeting, September 3rd, 2020

United Registrar of Systems (URS)

Stress-Free Productivity During High Pressure Situation: Skills to Regain Control


Dunamis

Edukasi Literasi Keuangan - Financial Planner DPLK ManulifeFinancial Literacy Education - Financial Planner DPLK Manulife



Edukasi Literasi Keuangan - Property, Future & US (Millenial)Financial Literacy Education - Property, Future & US (Millenial)





Sosialisasi APU PPTAML-CFT Socialization



Basic Insurance - Risk Management Daring melalui Zoom Meeting, 11 Desember 2020Online via Zoom Meeting, December 11th, 2020


Sistem Pengendalian InternalInternal Control System

Sistem pengendalian internal merupakan sebuah sistem yang dibentuk untuk mengawasi seluruh kegiatan keuangan dan operasional Perseroan, serta kepatuhan seluruh unit kerja terhadap peraturan perundang-undangan yang berlaku. Selain itu, penerapan sistem pengendalian internal dapat membantu Perseroan dalam memelihara, mengamankan aset yang dimiliki, serta menciptakan manajemen yang sehat.

The internal control system is a system established to monitor all Company’s financial and operational activities, as well as the compliance of all working units with the prevailing laws and regulations. In addition, the implementation of an internal control system can assist the Company in maintaining and securing its assets, as well as creating sound management.


Effectiveness of the Implementation of Internal Control Systems

In 2020, the Board of Commissioners and Board of Directors assessed that the implementation of internal control system was running well and effectively. This condition was shown by a proper control system in the operational and financial sectors without causing any losses, thus the business activities are still in accordance with the prevailing laws and regulations.

Kesesuaian Sistem Pengendalian Internal dengan Kerangka COSO

Perseroan telah menyesuaikan sistem pengendalian internal dengan kerangka standar Internasional, yaitu Committee of Sponsoring Organization of Tradeway Commission (COSO). Adapun komponen COSO yang disesuaikan dalam penerapan sistem pengendalian internal Perseroan, yaitu:1. Lingkungan pengendalian;2. Penilaian risiko;3. Aktivitas pengendalian;4. Informasi dan komunikasi; serta5. Aktivitas pemantauan (monitoring).

Implementasi Sistem Pengendalian Internal

Implementasi sistem pengendalian internal di Perseroan diuraikan pada tabel berikut.

Komponen Sistem Pengendalian Internal

Internal Control System Component

ImplementasiImplementation

Lingkungan PengendalianControl Environment

Memiliki Kode Etik yang dijadikan sebagai pedoman dalam berperilaku yang wajib dipatuhi oleh seluruh karyawan.Have a Code of Ethics that serves as a behavior guideline that must be adhered to by all employees.

Penilaian RisikoRisk Assessment

1. Menyusun target kinerja maupun program kerja masing-masing unit kerja; dan2. Memiliki kebijakan terkait manajemen risiko untuk mengendalikan risiko-risiko yang terjadi

di Perseroan.1. Prepare performance targets and work programs for each working unit; and2. Have policies related to risk management to control risks within the Company.

Aktivitas PengendalianControl Activities

Mewajibkan seluruh karyawan untuk mematuhi standar operasional prosedur (SOP) yang berlaku di Perseroan, agar kegiatan operasional perusahaan berjalan dengan efektif.Require all employees to comply with the standard operating procedures (SOPs) applicable in the Company, so the Company’s operational activities can run effectively.

Informasi dan KomunikasiInformation and Communication

Memanfaatkan situs web sebagai media saluran komunikasi dengan pihak eksternal Perseroan. Utilizing the website as a medium for communication channels with external parties.

Aktivitas Pemantauan (Monitoring)Monitoring Activities

1. Melibatkan seluruh pihak dalam melakukan pengendalian risiko, agar terciptanya sistem pengendalian internal yang efektif dan efisien; serta

2. Memaksimalkan pemanfaatan whistleblowing system (WBS).1. Involve all parties in controlling risk, to create an effective and efficient internal control

system; and2. Maximizing the utilization of the whistleblowing system (WBS).

Efektivitas Pelaksanaan Sistem Pengendalian Internal

Sepanjang tahun 2020, Dewan Komisaris dan Direksi menilai penerapan sistem pengendalian internal berjalan dengan baik dan efektif. Kondisi ini ditunjukkan dengan dikelolanya sistem pengendalian pada bidang operasional dan keuangan dengan baik tanpa menimbulkan kerugian, sehingga aktivitas bisnis yang dijalankan masih sesuai dengan peraturan dan perundang-undangan yang berlaku.

Compatibility of the Internal Control System with the COSO Framework

The Company has conformed its internal control system to an international standard framework, namely the Committee of Sponsoring Organizations of Tradeway Commission (COSO). The COSO components are tailored in the implementation of the Company's internal control system, namely:1. Control environment;2. Risk assessment;3. Control activities;4. Information and communication; and5. Monitoring activities.

Implementation of the Internal Control Systems

The implementation of the internal control system in the Company is described in the following table.



184

Sistem Manajemen RisikoRisk Management System

Perseroan menyadari dalam setiap aktivitas operasional yang dijalankan akan menimbulkan risiko. Oleh karena itu, Perseroan menerapkan sistem manajemen risiko untuk mengendalikan dan meminimalisir risiko yang dapat mempengaruhi keberlangsungan usaha, efisiensi, dan profitabilitas Perseroan.

Kebijakan Manajemen Risiko

Kebijakan manajemen risiko yang diterapkan dalam Perseroan terdiri dari 3 elemen utama, yaitu:1. Pengawasan Aktif Dewan Komisaris terhadap Direksi Dewan Komisaris melaksanakan pengawasan aktif kepada

Direksi terkait kepengurusan Perseroan. Selain itu, Dewan Komisaris memberikan masukan dan saran terkait keuangan, operasional, pemasaran, dan sumber daya manusia.

2. Kecukupan Kebijakan, Prosedur, dan Penetapan

Kecukupan kebijakan, prosedur, dan penetapan limit risiko tercantum dalam informasi terdokumentasi, seperti Surat Keputusan Direksi, Surat Edaran, Standar Operasional Prosedur (SOP), dan instruksi kerja/petunjuk kerja yang diperbaharui secara berkala.

3. Proses Identifikasi, Pengukuran, Pengendalian, serta Pemantauan Risiko

Dewan Komisaris dan/atau Direksi berkomitmen untuk menjalankan prinsip “Kenali Nasabah” dan menerapkan sistem manajemen risiko, sistem pengendalian internal, serta GCG dalam setiap aktivitas operasional dan seluruh tingkat organisasi Perseroan.

Identifikasi, Pengukuran, Pengendalian, dan Pemantauan Risiko

Dalam melakukan identifikasi, pengukuran, pengendalian, dan pemantauan risiko, Perseroan berpedoman pada Peraturan Otoritas Jasa Keuangan No. 10/POJK.05/2014 tentang Penilaian Tingkat Risiko Lembaga Jasa Keuangan dan Peraturan Otoritas Jasa Keuangan No. 01/POJK.05/2015 tentang Penerapan Manajemen Risiko bagi Lembaga Jasa Keuangan Non-Bank.

Identifikasi RisikoProses identifikasi dilakukan terhadap peristiwa atau kejadian yang berpotensi negatif sehingga dapat memengaruhi pencapaian target Perseroan. Peristiwa yang berpotensi negatif tersebut adalah suatu kejadian, baik internal ataupun eksternal, yang berpengaruh pada keberlangsungan usaha Perseroan. Pengaruh yang bersifat positif disebut sebagai peluang, sedangkan pengaruh yang bersifat negatif disebut sebagai risiko.

The Company realizes that every operational activity has its own risks. Therefore, the Company implements a risk management system to control and minimize risks that can affect the Company’s business continuity, efficiency, and profitability.

Risk Management Policy

The risk management policy implemented in the Company consists of 3 main elements, i.e.:1. Active Supervision by Board of Commissioners on the

Board of Directors The Board of Commissioners carries out active supervision

on the Board of Directors regarding the management of the Company. In addition, the Board of Commissioners provides input and advices related to finance, operations, marketing, and human resources.

2. Adequacy of Policies, Procedures, and Establishment of Risk Limits

Adequacy of policies, procedures, and establishment of risk limits are stated in the documented information, such as a Board of Directors Decree, Circular Letter, Standards Operational Procedures (SOP), and work instructions which updated periodically.

3. Risk Identification, Measurement, Control, and Monitoring Process

The Board of Commissioners and/or Board of Directors are committed to implement the “Know Your Customer” principle, a risk management system, internal control system, and GCG in all of the Company’s operational activity and organization levels.

Risk Identification, Measurement, Control, and Monitoring

In identifying, measuring, controlling and monitoring risks, the Company refers to the Financial Services Authority Regulation No. 10/POJK.05/2014 on Risk Level Assessment of Financial Service Institutions and Financial Services Authority Regulation No. 01/POJK.05/2015 on the Implementation of Risk Management for Non-Bank Financial Services Institutions.

Risk IdentificationIdentification process is carried out on events or occurrence that potentially contains negative elements thus influencing the achievement of the Company’s targets. The potentially negative event is defined as an event from internal and external sources that has an influence on the company’s going concern. Positive influences are referred to as opportunities, whereas negative effects are referred to as risks.


Pengukuran RisikoProses pengukuran risiko dilakukan untuk mengetahui tingkat kemungkinan terjadi dan dampak dari terjadinya risiko di Perseroan. Pengukuran risiko tersebut terdiri dari risiko inheren dan risiko residual. Risiko inheren merupakan risiko yang terjadi karena tidak adanya tindakan pengendalian internal. Sementara itu, risiko residual merupakan risiko yang masih terjadi setelah adanya tindakan manajemen untuk memitigasi suatu risiko inheren dan diterapkan secara efektif.

Pengendalian RisikoProses perencanaan tahapan, kebijakan, alat, praktik, atau tindakan lain terkait pengendalian risiko yang bertujuan untuk mengurangi risiko. Pengendalian risiko dapat berupa pengendalian yang sudah diterapkan oleh manajemen pada saat melakukan evaluasi risiko atau pengendalian yang akan dilakukan, yang merupakan pengembangan dan tambahan dari pengendalian risiko yang sudah ada sehingga kemungkinan terjadi dan dampak terjadinya risiko dapat dikurangi pada tingkat yang dapat diterima.

Pemantauan RisikoPemantauan risiko dilakukan melalui kegiatan pengawasan untuk memastikan bahwa risiko telah diidentifikasi pada setiap aktivitas operasional, dampak dan peluang risiko telah dilakukan pengukuran dan langkah-langkah pengendaliannya, serta telah dilakukan secara efektif, sehingga memberikan hasil yang optimal.

Pemetaan Risiko dan Mitigasi

Perseroan melakukan pemetaan risiko dan mitigasi untuk menetapkan prioritas risiko berdasarkan kepentingan Perseroan serta manfaat program kerja/proyek bagi keberlangsungan usaha Perseroan. Hal ini dilakukan sebagai bentuk komitmen Perseroan dalam menerapkan sistem manajemen risiko secara efektif dan efisien.

Strategi pemetaan risiko Perseroan, terdiri dari:1. Membentuk fungsi kontrol yang bertanggung jawab secara

profesional dalam melakukan koordinasi penerapan sistem manajemen risiko secara terintegrasi di seluruh unit kerja;

2. Mengintegrasikan wewenang dan tanggung jawab setiap pihak yang terlibat dalam penerapan sistem manajemen risiko ke dalam job description; dan

3. Mengintegrasikan sistem manajemen risiko ke dalam proses bisnis Perseroan.

Langkah-langkah strategis yang dilakukan dalam memitigasi risiko-risiko tersebut, yaitu:1. Menerapkan fungsi kontrol untuk mengendalikan risiko;2. Menghindari risiko dengan menghilangkan penyebab risiko

dan/atau konsekuensi;3. Membatasi risiko dengan menerapkan fungsi kontrol guna

meminimalkan dampak kerugian dan ancaman dari risiko tersebut; serta

4. Mengelola risiko dengan menetapkan upaya mitigasi risiko yang memprioritaskan, menerapkan, serta memelihara fungsi kontrol.

Risk MeasurementThe process of risk measurement is conducted to know the likelihood level and the impact of risk occurrence in the Company. Risk measurement consist of inherent risks and residual risks. Inherent risk is the risk that occurs in the absence of internal control measures. Meanwhile, residual risk is the risk that still occurs after management measures are taken to mitigate an inherent risk and are implemented effectively.

Risk ControlThe process of designing stages, policies, tools, practices, or other actions with the aim of minimizing risk. Risk control can be in the form of controls that have been implemented by the Management when a risk evaluation is carried out or controls that will be carried out, which are developments and additions to existing risk controls, so that likelihood and the impact of risk are minimized at acceptable levels.

Risk MonitoringRisk monitoring is conducted through supervision activities to ensure that risks have been identified in each operational activity, the impact and opportunity risks have been measured and control measures, and have been implemented effectively, to provide optimal results.

Risk Mapping and Mitigation

The Company conducts risk mapping and mitigation with the purpose to determine risk priority based on the Company’s interests as well as the benefit of each work program/project for the Company’s going concern. This is carried out as part of the Company’s commitment to implement Risk Management effectively and efficiently.

The Company’s risk mapping strategy, consists of:1. Establish control function that is professionally responsible

for coordinating the integrated implementation of Risk Management at all work units;

2. Integrate the authority and responsibilities of each party involved in the Risk Management implementation to job description; and

3. Integrate Risk Management to the Company’s business process.

Strategic measures undertaken to mitigate the risks are as follows:1. Implement control function to control risks;2. Prevent risk by eliminating the risk cause and/or

consequence;3. Limit risks by implementing control function to minimize

the impact of loss and threat from related risks; and

4. Manage risks by establishing risk mitigation efforts that prioritizes, implements, and maintains control function.



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Jenis Risiko dan Upaya Mitigasi

Risiko yang dihadapi Perseroan serta langkah mitigasinya diuraikan sebagai berikut.

Jenis RisikoRisk Type

PenjelasanExplanation

Pengukuran RisikoRisk Measurement

MitigasiMitigation

Risiko kepengurusanCorporate stewardship risk

Risiko terkait komposisi kepengurusan harus sesuai dengan ketentuan dan syarat yang diberlakukan oleh regulator. Risk related to the corporate stewardship composition should be in accordance with the terms and conditions imposed by the regulator.

Sepanjang tahun 2020, risiko kepengurusan berada pada tingkat rendah karena Perseroan telah memiliki 2 orang Komisaris Independen dari total 3 anggota Dewan Komisaris. Dengan demikian, Perseroan telah memenuhi peraturan Otoritas Jasa Keuangan bidang perasuransian.In 2020, Corporate Stewardship Risk was at a low level as the Company already has 2 Independent Commissioners out of a total of 3 members of the Board of Commissioners. Thus, the Company has complied with the Financial Services Authority regulations in the insurance sector.

Perseroan berupaya untuk memenuhi komposisi Komisaris Independen yang disesuaikan dengan peraturan Otoritas Jasa Keuangan di bidang perasuransian.The Company has worked to fulfill the composition of the Company’s Independent Commissioners in accordance with Financial Services Authority regulations in insurance sector.

Risiko tata kelolaGovernance risk

Risiko terkait pengelolaan Perseroan harus sesuai dengan kaidah tata kelola perusahaan yang berlaku secara umum di Indonesia. Risk related to the Company’s management according to the corporate governance rules generally applied in Indonesia.

Sepanjang tahun 2020, risiko tata kelola berada pada tingkat yang rendah karena Perseroan telah memiliki pedoman tata kelola perusahaan dengan dilengkapi oleh komite pendukung.In 2020, the governance risk was at low level as the Company had already been equipped with code of corporate governance as well as with supporting committees.

Perseroan secara konsisten mematuhi Pedoman GCG yang berlaku di Indonesia serta berupaya untuk meningkatkan kualitas tata kelola perusahaan.The Company consistently comply with the Code of Good Corporate Governance in Indonesia and strives to continuously improve good corporate governance quality.

Risiko strategiStrategy risk

Risiko yang berhubungan dengan aspek strategis Perseroan, baik yang terkait dengan perencanaan program kerja strategis maupun implementasi pelaksanaan strategi Perseroan. Risk associated with the Company’s strategic aspects both related to strategic work program planning and implementation of the strategic work program.

Sepanjang tahun 2020, risiko strategi berada pada tingkat yang rendah karena Perseroan telah menyusun strategi jangka pendek dan strategi jangka panjang.In 2020, strategic risk was at a low level as the Company had developed a short-term strategy and a long-term strategy.

Perseroan telah menyusun strategi jangka pendek dan jangka panjang dengan memperhatikan perkembangan usaha Perseroan dan industri asuransi/pasar. The Company has planned short-term and long-term strategies by considering the Company’s business development and insurance industry/market.

Risiko operasionalOperational risk

Risiko yang berkaitan dengan aktivitas operasional Perseroan yang terganggu akibat kondisi makro, regulasi, human error, atau faktor lain yang dapat mempengaruhi kinerja operasional Perseroan secara keseluruhan. Risk related to disruption of the Company’s operational activities, either due to the macro environment, regulation, human error or other factors that could affect the Company’s overall operating performance.

Sepanjang tahun 2020, risiko operasional berada pada tingkat yang rendah, karena Perseroan telah menetapkan aktivitas operasional yang efektif.In 2020, operational risk was at a low level as the Company has established effective operational activities.

Perseroan telah merancang aktivitas operasional agar dapat sejalan dengan perkembangan bisnis dan pemasaran, sehingga sesuai dengan rencana strategis dan target yang telah ditetapkan sebelumnya. The Company has designed its operational activities to align with the business and marketing development in-line with the predetermined strategic plan and targets.

Risiko aset dan liabilitasAssets and liabilities risk

Risiko yang berkaitan dengan perubahan komposisi aset dan liabilitas, terutama dengan kinerja keuangan Perseroan. Risk related to changes in the composition of assets and liabilities primarily related to the Company’s financial performance.

Sepanjang tahun 2020, risiko aset dan liabilitas berada pada tingkat yang rendah karena Perseroan telah memenuhi batasan risiko yang ditentukan oleh Otoritas Jasa Keuangan. In 2020, the Company’s assets and liabilities risk was at low level as the Company successfully complied with the risk limit defined by Financial Services Authority.

Perseroan senantiasa menjaga keseimbangan antara aset dan liabilitas sehingga kinerja keuangan Perseroan tetap optimal.The Company always maintains the balance of assets and liabilities so the Company’s financial performance can remain optimal.

Type of Risks and Mitigation Efforts

The types of risks faced by the Company and their mitigation measures are described as follows.


Evaluation on the Effectiveness of the Risk Management System

The Company periodically evaluates the risk management system implemented by the Board of Directors, through the Internal Audit Unit, under the supervision of the Board of Commissioners. The results of the evaluation showed that the Company's risk management system is running well and effectively. This condition is demonstrated by the ability to resolve various risks faced by the Company through the accuracy of procedures and mitigation measures, without causing any other negative impacts.

Jenis RisikoRisk Type

PenjelasanExplanation

Pengukuran RisikoRisk Measurement

MitigasiMitigation

Risiko asuransiInsurance risk

Risiko asuransi berkaitan dengan kondisi pasar dan industri secara umum. The insurance risk is related to market and industry conditions in general.

Sepanjang tahun 2020, risiko aset dan liabilitas berada pada tingkat yang rendah karena dinamika pasar.The insurance risk in 2020 was at low level due to the market dynamics.

Perseroan telah mematuhi kebijakan mengenai kecukupan modal bahkan telah melampaui ketentuan Otoritas Jasa Keuangan yang memiliki target tingkat solvabilitas minimum sebesar 120%. Selain itu, Perseroan menjaga keseimbangan kapasitas/reasuransi dan bisnis. The Company adheres to the capital adequacy policy, which even surpassing the Financial Services Authority minimum requirement of 120%. In addition, the Company also maintains the balance of capacity/reinsurance and business results.

Risiko dukungan dana (permodalan)Capital support risk

Risiko yang berkaitan dengan aspek permodalan Perseroan sebagai perusahaan asuransi. Risk is related to the Company’s capital aspect as an insurance company.

Sepanjang tahun 2020, risiko dukungan dana (permodalan) berada pada tingkat yang rendah karena Perseroan telah memenuhi ketentuan perundang-undangan, khususnya terkait aspek permodalan. In 2020, the capital support risk was at low level because the Company had complied with the prevailing laws and regulations, particularly those related to the capital aspect.

Perseroan menerapkan strategi diferensiasi untuk mengoptimalkan sumber-sumber pendanaan.The Company implements a differentiation strategy to optimize its sources of funding.

Evaluasi Atas Efektivitas Sistem Manajemen Risiko

Perseroan secara berkala melakukan evaluasi terhadap sistem manajemen risiko yang dilakukan oleh Direksi, melalui Unit Audit Internal, di bawah pengawasan Dewan Komisaris. Hasil penilaian menujukkan sistem manajemen risiko Perseroan telah berjalan dengan baik dan efektif. Kondisi tersebut ditunjukkan dengan kemampuan penyelesaian berbagai risiko yang dihadapi Perseroan melalui ketepatan prosedur dan langkah mitigasi, tanpa menimbulkan dampak negatif lainnya.

Audit EksternalExternal Audit

Audit eksternal merupakan pihak independen yang ditunjuk Perseroan untuk melakukan pemeriksaan atau mengaudit Laporan Keuangan Konsolidasian agar disajikan secara wajar dan sesuai dengan standar akuntansi yang berlaku.Berdasarkan agenda ketiga RUPS Tahunan, disetujui untuk menunjuk dan menetapkan Kantor Akuntan Publik PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan untuk mengaudit Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2020. RUPS Tahunan memberikan wewenang sepenuhnya kepada Dewan

External audit is an independent party appointed by the Company to examine or audit the Consolidated Financial Statements so they are presented fairly and in accordance with applicable accounting standards. Pursuant to the third agenda of the AGMS, it has been approved to appoint and determine PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners Public Accountant Firm to audit the Company’s Financial Statements for the year ended on December 31st, 2020. The AGMS gave full authority to the Board of Commissioners and/or Board of Directors to determine the



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Komisaris dan/atau Direksi untuk menetapkan honorarium dan persyaratan-persyaratan lain yang berkenaan dengan penunjukkan akuntan publik tersebut, termasuk menunjuk dan menetapkan honorarium dan persyaratan lainnya bagi Kantor Akuntan Publik pengganti apabila Kantor Akuntan Publik PKF Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan dengan sebab apapun tidak dapat menyelesaikan audit Laporan Keuangan Perseroan tahun buku 2020. Pelaporan penunjukan kantor akuntan publik telah disampaikan kepada Otoritas Jasa Keuangan dengan disertai rekomendasi yang diberikan oleh Komite Audit dengan mengacu Peraturan Otoritas Jasa Keuangan No. 13/POJK.03/2017 tentang Penggunaan Jasa Akuntan Publik dan Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan.

Efektivitas pelaksanaan tugas audit eksternal dan kepatuhan Perseroan terhadap ketentuan direalisasikan dengan penyediaan semua catatan akuntansi dan data penunjang yang diperlukan bagi audit eksternal oleh Perseroan. Dengan begitu, audit eksternal dapat memberikan pendapatnya tentang kewajaran, ketaatan, dan kesesuaian Laporan Keuangan Perseroan dengan standar audit yang berlaku. Informasi AP dan KAP yang telah melakukan audit Laporan Keuangan Perseroan dalam kurun waktu 5 tahun terakhir diungkapkan pada tabel berikut.

TahunYear

Kantor Akuntan PublikPublic Accounting Firm

Nama AkuntanAccountant Name

Biaya*Fee(Rp)

OpiniOpinion

2016 PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan

Retno Dwi Andani SE, Ak, CA, CPA 250.000.000 Wajar tanpa pengecualian Unqualified


Retno Dwi Andani SE, Ak, CA, CPA 250.000.000 Wajar dalam semua hal material Unqualified in all material aspects


Retno Dwi Andani SE, Ak, CA, CPA 275.000.000 Wajar dalam semua hal material Unqualified in all material aspects


Santoso Chandra SE, MM, Ak, CPA, CA 305.000.000 Wajar dalam semua hal material Unqualified in all material aspects


Santoso Chandra SE, MM, Ak, CPA, CA 330.000.000 Wajar dalam semua hal material Unqualified in all material aspects

* Belum termasuk PPN sebesar 10%./ * Not including 10% VAT.

Jasa Lain yang Diberikan

Tidak terdapat jasa lain yang diberikan oleh PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan selain melakukan jasa audit atas Laporan Keuangan Konsolidasian Perseroan untuk tahun buku 2020.

honorarium and other requirements relating to the appointment of a public accountant, including appointing and determine the honorarium and other requirements for the substitute Public Accounting Firm if the PKF Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners Public Accounting Firm for any reason unable to complete the audit of the Company’s Financial Statements for 2020 financial year. Report on the appointment of public accounting firm has been submitted to the Financial Services Authority accompanied by recommendations given by the Audit Committee with reference to the Financial Service Authority Regulations No. 13/POJK.03/2017 on the Use of Public Accountants and Public Accounting Firms services in Financial Services Activities.

The effectiveness of the implementation of external audit and the Company’s compliance with regulations are realized by providing all accounting records and supporting data required for external audits. Therefore, the external audit can provide its opinion on the fairness, compliance and conformity of the Company’s financial statements with the applicable auditing standards. Information on AP and KAP that have audited the Company’s financial statements in the last 5 years is disclosed in the following table.

Other Service RenderedThere are no other services provided by PKF-Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Partners other than provided audit services of the Company’s Consolidated Financial Statements for 2020 financial year.


Professional Ethics and Responsibilities is part of the Company Regulations as regulated in Article 21 Chapter VII Company Regulation about Professional Ethics and Responsibilities.

Professional Ethics and Responsibilities required all Company’s employees in all position and work aspects to act in accordance with ethical standards and professional integrity. The Professional Ethics and Responsibilities regulates:

1. Integrity and Objectivity;2. Rules in Accepting and Giving Gifts;3. Information on Proprietary Rights and Confidential

Information;4. Mass Media and Publication;5. Proper Human Resources Governance;6. Harassment and Intimidation;7. Safeguarding of Company’s Assets;8. Accuracy of Company’s Records and Reporting;9. Relationships with Suppliers;10. Money Laundering/Know Your Customer;

11. Laws and Regulations;12. Receiving and Performing Outside Activities;13. Social Acceptability;14. Insurance for Employees’ Assets;15. Family Relationship among LippoInsurance Employees;16. Synergy; and17. Implementation.

By implementing the quality and integrity, the Company’s personnel, moral foundations, and GCG best practices on an ongoing basis, will make a positive contribution to the sustainability of the Company’s business in the present and in the future.

Code of Ethics Dissemination and Enforcement

The dissemination of Code of Ethics is conducted to convey information related to the implementation of the Code of Ethics, so all Company personnel can understand and make it as their guidance in carrying out the Company’s operational activities. In 2020, the Code of Ethics dissemination was held on June 6th, 2020, where all employees are required to fill a Declaration of agreeing to comply with the contents of the Code of Ethics.

Violation Report

There was no violation of the Code of Ethics within the Company in 2020.

Kode EtikCode of Ethics

Etika dan Tanggung Jawab Profesi merupakan bagian dari Peraturan Perusahaan sebagaimana diatur dalam Pasal 21 Bab VII Peraturan Perusahaan tentang Etika dan Tanggung Jawab Profesi.

Etika dan Tanggung Jawab Profesi tersebut mewajibkan seluruh karyawan Perseroan untuk bertindak dalam semua aspek jabatan dan pekerjaan sesuai dengan standar etika dan integritas profesi. Hal-hal yang diatur dalam Etika dan Tanggung Jawab Profesi, yaitu:1. Integritas dan Objektivitas;2. Aturan Penerimaan dan Pemberian Hadiah; 3. Informasi mengenai Hak Kepemilikan dan Informasi

Rahasia;4. Media Massa dan Penerbitan;5. Tata Kelola Kepegawaian yang Layak;6. Pelecehan dan Intimidasi;7. Pengamanan Aset Perusahaan;8. Kecermatan Catatan dan Pelaporan Perusahaan;9. Hubungan dengan Pemasok;10. Pencucian Uang (Money Laundering)/Kenali Nasabah

Anda;11. Perundang-undangan dan Peraturan;12. Menerima dan Melakukan Aktivitas Luar;13. Hubungan Sosial yang dapat Diterima (social acceptability);14. Asuransi atas Objek Milik Karyawan;15. Hubungan Keluarga antar Karyawan LippoInsurance; 16. Sinergi; dan17. Pelaksanaan.

Dengan menerapkan kualitas dan integritas para insan Perseroan, pondasi akhlak, serta best practice GCG secara berkesinambungan, akan memberikan kontribusi positif terhadap keberlangsungan bisnis Perseroan di masa kini dan masa mendatang.

Sosialisasi Kode Etik dan Penegakan Kode Etik

Sosialisasi Kode Etik dilakukan untuk menyebarkan informasi terkait penerapan Kode Etik Perseroan, agar seluruh insan Perseroan dapat memahami dan menjadikan pedoman dalam melaksanakan aktivitas operasional Perseroan. Pada tahun 2020, sosialisasi Kode Etik dilaksanakan pada 6 Juni 2020, di mana seluruh karyawan Perseroan diwajibkan mengisi pernyataan setuju untuk mematuhi isi Kode Etik.

Laporan Pelanggaran

Tidak ada pelanggaran Kode Etik yang terjadi di dalam Perseroan selama tahun 2020.



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Perkara PentingLitigation

Informasi terkait kasus hukum yang dihadapi Perseroan sepanjang tahun 2020 diuraikan sebagai berikut.

Permasalahan HukumLegal Cases

Total KasusTotal Cases

PidanaCriminal

PerdataCivil

Telah mendapat putusan yang mempunyai kekuatan hukum tetapHas received a ruling with permanent legal force - 1

Dalam proses penyelesaian In the process of settlement - -

Total - 1

Pokok PerkaraCase Substance

Status PerkaraCase Status

Risiko dan Pengaruh terhadap Perseroan

Risks and Impact on the Company

Tindak lanjutFollow up

Kasus Pidana / Criminal Case

- - - -

Kasus Perdata / Civil Case

WanprestasiDefault

Tingkat Kasasi (Putusan Mahkamah Agung) Cassation Level (Supreme Court Ruling)

Dalam pokok perkara ini, Perseroan bertindak sebagai member koasuransi, sehingga risiko hukum yang terjadi adalah Perseroan akan diminta membayar ganti rugi sesuai dengan porsi sebagai member koasuransi.In this legal case, the Company acts as co-insurance member, thus the potential legal risk is the Company will be required to pay compensation according to its portion as a co-insurance member.

Perusahaan asuransi yang tergabung dalam koasuransi pada kasus ini sedang melakukan analisis dan kajian untuk proses upaya hukum yang akan ditempuh selanjutnya.The insurance companies who joined in this co-insurance agreement in this legal case are currently performing analysis and study for any legal process that will be carried out in the future.

Kepatuhan Pembayaran PajakTax Payment Compliance

Perseroan berkomitmen untuk menjadi wajib pajak yang patuh terhadap peraturan perundang-undangan dengan membayar pajak sesuai ketentuan dan tepat waktu. Melalui komitmen tersebut, Perseroan telah turut serta dalam meningkatkan perekonomian dan pembangunan negara.

The Company is committed to being lawfully taxpayers who comply with laws and regulations by paying taxes according to the provisions and in timely manner. Through this commitment, the Company has participated in increasing the economy and development.

Information related to legal cases faced by the Company throughout 2020 is described as follows.


Anti-corruption and gratification procedures are contained in the Code of Ethics which has been disseminated to all Company personnel. Anti-corruption and gratification procedures must be implemented to create a healthy Company’s management and free from corruption, collusion, and nepotism. The Company continues to disseminate anti-corruption and gratification through internal activities and the Company’s website on a regular basis.

The Company has established a whistleblowing system (WBS) as a channel for all employees to submit report against unethical conduct, fraud practice, violations of the law and regulations within the Company. The implementation of an effective whistleblowing system can provide benefits for the Company, especially in creating a safe and comfortable work environment.

Whistleblowers Protection Program

The Company is committed to provide protection to all parties who report violations, both internally and externally. The Company guarantees the confidentiality of the whistleblower’s identity and information to create a sense of security for the whistleblower.

Whistleblowing Management

Complaints of violations that occur within the Company can be submitted by filling out the whistleblowing form available on the Company’s website. Each whistleblower who will submit a complaint must be accompanied by evidence. This is necessary to anticipate whistleblowing report based on the deliberate element to bring other people down.

Whistleblowing Report

There are no whistleblowing reports received in 2020, both in the internal or external environment.

Pengelolaan Anti Korupsi dan GratifikasiAnti-Corruption and Gratification Management

Pengendalian prosedur anti korupsi dan gratifikasi tercantum dalam Kode Etik Perusahaan yang telah disosialisasikan kepada seluruh insan Perseroan. Kebijakan prosedur anti korupsi dan gratifikasi wajib diterapkan dalam rangka menciptakan pengelolaan Perseroan yang sehat dan bebas dari praktik korupsi, kolusi, dan nepotisme. Perseroan senantiasa melakukan sosialisasi anti korupsi dan gratifikasi melalui kegiatan internal dan situs web Perseroan secara berkala.

Sistem Pelaporan PelanggaranWhistleblowing System

Perseroan telah membentuk sistem pelaporan pelanggaran (whistleblowing system/WBS) sebagai sarana bagi seluruh karyawan dalam menyampaikan pelaporan terhadap tindakan tidak etis, praktik fraud/kecurangan, pelanggaran hukum yang terjadi di lingkungan Perseroan. Penerapan whistleblowing system yang efektif dapat memberikan manfaat bagi Perseroan terutama untuk menciptakan lingkungan kerja yang aman dan nyaman.

Perlindungan bagi Pelapor

Perseroan berkomitmen untuk memberikan perlindungan kepada seluruh pihak yang melaporkan adanya tindakan pelanggaran yang terjadi, baik di lingkungan internal maupun eksternal. Perseroan menjamin kerahasiaan identitas dan informasi pelapor guna menciptakan rasa aman bagi pihak pelapor.

Penanganan Pengaduan Pelanggaran

Pengaduan pelanggaran yang terjadi di lingkungan Perseroan dapat disampaikan dengan mengisi formulir whistleblowing yang tersedia di portal karyawan Perseroan. Setiap pelapor yang akan menyampaikan pengaduan harus disertakan dengan bukti-bukti. Hal tersebut dilakukan untuk mengantisipasi pengaduan pelanggaran yang didasarkan dengan unsur kesengajaan untuk menjatuhkan orang lain.

Laporan Pengaduan Pelanggaran

Tidak terdapat pengaduan pelanggaran, baik di lingkungan internal ataupun lingkungan eksternal Perseroan selama tahun 2020.



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Sementara itu, sepanjang tahun 2020, tidak terdapat internal fraud yang terjadi di Perseroan sebagaimana telah disampaikan kepada regulator dalam Laporan Pengendalian Fraud dan Penerapan Strategi Anti Fraud PT Lippo General Insurance Tbk 2020.

Jenis FraudFraud Types

Tanggal Terjadinya

FraudFraud

Incident Date

Divisi/Bagian

Terjadinya Fraud

Related Division/

Department

Pihak yang Terlibat

Individual Involved

JabatanPosition

Kerugian dalam Rupiah

Losses in Rupiah

Tindakan PerseroanCompany’s

Decision

Kelemahan/Penyebab Terjadinya

FraudWeakness/Cause of

Fraud

Tindak Lanjut/

PerbaikanFollow up/

Improvement

Kronologi Kejadian

FraudThe

Chronology of Fraud Incident

- - - - - - - - - -

Perseroan juga senantiasa menerapkan strategi anti fraud yang diuraikan sebagai berikut.1. Pencegahan

a. Melaksanakan prinsip know your employee, yaitu dengan melakukan screening di awal penerimaan karyawan melalui Surat Keterangan Catatan Kepolisian (SKCK) dan media sosial karyawan tersebut; serta

b. Mengkampanyekan kesadaran akan anti kecurangan melalui berbagai media internal.

2. Deteksia. Melaksanakan audit internal secara berkala, seperti

audit compliance dan audit ISO; sertab. Memaksimalkan fungsi Komite Anti Fraud yang

bekerja sama dengan audit internal dan Divisi People Development untuk secara berkala melakukan pemeriksaan atas potensi fraud di lingkungan internal.

3. Investigasi, Pelaporan, dan Sanksia. Pelaksanaan proses investigasi dapat dilakukan oleh

Unit Audit Internal dan/atau Komite Anti Fraud;b. Pelaporan akan disampaikan ke Direksi untuk proses

tindak lanjut penentuan sanksi; sertac. Tindak kriminal akan dilaporkan ke pihak berwenang.

4. Pemantauan, Evaluasi, dan Tindak Lanjuta. Pemantauan dilakukan oleh Unit Audit Internal sesuai

mekanisme yang berlaku di dalam Perseroan; serta

b. Evaluasi dan tindak lanjut dibahas secara berkala minimal per semester.

Meanwhile, throughout 2020, there were no internal fraud incidents that conveyed to the regulators in the Fraud Control Report and Implementation of PT Lippo General Insurance Tbk’s Anti-Fraud Strategy in 2020.

The Company also always implements an anti-fraud strategy as described as follows.1. Prevention

a. Implementing the Know Your Employee principle, i.e. by performing a screening at the beginning of the recruitment process by requiring a Police Record Information Letter (SKCK) and via the employee’s social media; and

b. Campaign for anti-fraud awareness through various internal media.

2. Detectiona. Conducts regular internal audits, such as compliance

audit and ISO audit; andb. Maximizing the Anti-Fraud Committee function by

working closely with internal audit and the People Development Division to periodically perform examination of potential fraud in the internal environment.

3. Investigation, Reporting, and Sanctionsa. The investigation process can be conducted by the

Internal Audit Unit and/or Anti-Fraud Committee;b. Report will be submitted to the Board of Directors for

the determination of sanctions; andc. Criminal acts will be reported to the proper authorities.

4. Monitoring, Evaluation, and Follow Upa. Monitoring is conducted by the Internal Audit Unit in

accordance to the mechanisms that apply within the Company; and

b. Evaluation and follow-up are discussed regularly at minimum on each semester.


The Company strategic plan is described as follows.1. Short-Term Strategic Plan, i.e. the Company will focus

on achieving its annual targets (e.g. premium growth, operating profits, and well maintained cash flows), and establish a solid foundation in order to create 6 Strategic Business Unit (SBU) pillars within 1 year period.

2. Mid-Term Strategic Plan, i.e. the Company will produce a value creation consisting of the following components within 3 years period.a. Networks, establishes a main brokers network, a

proven agency system, and digital distribution;b. Market Leadership, establishes a corporate health

insurance; andc. Technology Driven Development, establishes iMeditap

and benefits platforms.

3. Long-Term Strategic Plan, i.e. The Company will reposition its business cycle, starting from the achievement of a strong financial position, establishment of strategic business unit (SBU), strengthening the presence of business partners, developing and strengthening human resource (HR) competencies, integrating information technology, produce strategic value creation, as well as strengthening business continuity through the creation of a sustainability loop that encourages value creation in every business opportunity development.

Rencana Strategis PerusahaanCompany Strategic Plans

Rencana strategis tersebut diuraikan sebagai berikut.1. Rencana Strategis Jangka Pendek, yaitu dalam 1 tahun

akan difokuskan untuk mencapai target tahunan (baik dari sisi pertumbuhan premi, keuntungan operasional, dan arus kas yang terjaga), serta membentuk landasan yang kokoh agar terciptanya 6 pilar Strategic Business Unit (SBU).

2. Rencana Strategis Jangka Menengah, yaitu dalam 3 tahun akan menciptakan value creation yang terdiri dari komponen, sebagai berikut.a. Networks, membentuk jaringan brokers utama, sistem

keagenan yang teruji, dan distribusi digital;b. Market Leadership, membentuk corporate health

insurance; danc. Techology Driven Development, membentuk platform

iMeditap dan benefit.

3. Rencana Strategis Jangka Panjang, yaitu dalam 5 tahun diterjemahkan menjadi reposisi siklus bisnis, mulai pencapaian posisi keuangan yang kuat, pembentukan strategic business unit (SBU), memperkuat kehadiran mitra bisnis, pengembangan dan memperkuat kompetensi sumber daya manusia (SDM), integrasi teknologi informasi, menghasilkan strategic value creation, serta memperkuat sustainability bisnis melalui penciptaan sustainability loop yang mendorong penciptaan value creation dalam setiap pengembangan business opportunity.

TANGGUNGJAWAB SOSIAL PERUSAHAANCORPORATE SOCIAL RESPONSIBILITY

Menjaga kesehatan karyawan melalui asupan multivitamin

dan minuman isotonik vitamin C secara rutin setiap minggu.

Maintain employee health through the intake of multivitamins and vitamin C isotonic drinks regularly every week.

188 program pengembangan kompetensi yang terdiri dari soft skill

dan technical skill.188 competency development programs

consisting of soft skills and technical skills.

Menerapkan Kebijakan Kantor Ramah Lingkungan di Kantor Pusat dan Kantor Cabang/Pemasaran.

Implementing Eco-Friendly Office Policy at the Head Office and Branch/Marketing Offices.

Biaya Tanggung Jawab Sosial Tahun 2020Corporate Social Responsibility Expenses in 2020

Rp776.374.879,-.


06 TANGGUNG JAWAB SOSIAL PERUSAHAANCorporate Social Responsibility

196

Dasar dan Komitmen Penerapan Tanggung Jawab Sosial Perusahaan The Basis and Commitment to the Implementation of Corporate Social Responsibility

LippoInsurance meyakini bahwa para pemangku kepentingan, seperti regulator, karyawan, nasabah, masyarakat, dan mitra usaha, termasuk para agen, berperan penting dalam mewujudkan keberlanjutan usaha Perseroan. Kelompok pemangku kepentingan tersebut dapat terdampak dari keputusan Perseroan ataupun dapat memberikan pengaruh bagi pengambilan keputusan Perseroan. Oleh karena itu, LippoInsurance berusaha memenuhi kebutuhan berbagai kelompok pemangku kepentingan melalui pelaksanaan berbagai program tanggung jawab sosial perusahaan (corporate social responsibility/CSR). Program CSR tersebut dilaksanakan dalam bidang kesehatan, pendidikan, maupun bidang lain yang dipandang sesuai dan relevan dengan pemangku kepentingan dan fokus Perseroan.

Pelaksanaan program CSR di LippoInsurance juga senantiasa diselenggarakan dengan berlandaskan pada peraturan perundang-undangan yang berlaku terkait Perseroan Terbatas, ketenagakerjaan, kesehatan dan keselamatan kerja, perlindungan konsumen, serta memperhatikan kewajiban perusahaan jasa keuangan untuk menyelenggarakan inklusi dan edukasi literasi keuangan. Dengan demikian, program CSR di Perseroan bukan sekedar pemenuhan kewajiban terhadap regulator, tetapi juga sebagai salah satu upaya untuk memberikan timbal balik yang positif bagi pemangku kepentingan lainnya.

LippoInsurance believes that stakeholders, such as regulators, employees, customers, the community and business partners, including agents, play an important role in realizing the Company’s business sustainability. This stakeholder group can be affected by the Company’s decision or can give influence to the Company’s decision making. Therefore, LippoInsurance strives in meeting the needs of various stakeholder groups through the implementation of various corporate social responsibility (CSR) programs. The CSR program is implemented in the field of health, education, and other fields that are considered appropriate and relevant to the stakeholders and the Company’s focus.

The implementation of CSR programs at LippoInsurance is also continuously conducted in accordance with applicable laws and regulations on Limited Liability Companies, employment, occupational health and safety, consumer protection, as well as paying attention to the obligations of financial services companies to organize financial literacy inclusion and education. Thus, CSR programs conducted by the Company is not only to fulfill obligations to regulators, but also as an effort to provide positive feedback for other stakeholders.


The Company is committed to fulfilling the employee’s rights and obligations through the application of best practices in the fields of Employment, Occupational Health and Safety (OHS). This commitment is realized by establishing a conducive work environment and prioritizing occupational health and safety for all Company personnel.

Initiative Implementation

The implementation of OHS related responsibility initiatives is described as follows.

Employment1. Equality in Gender and Job Opportunities The Company upholds the principles of fairness and

equality to all employees and new candidates. This is realized through an objective recruitment process, without any discrimination against ethnicity, race, religion, gender or political class. The Company conducts the recruitment process through job vacancies advertisements on the Company’s website, collaborates with various universities, organizes job fairs, or working with job websites.

2. Competency Development The Company routinely sends its employees to various

competency development programs to increase their productivity and expand knowledge related to their field of business. The competency development program that employees participated in is focusing on shaping mental attitudes and work behavior (soft skills) as well as improving skills in accordance with the business carried out by the Company (technical). Information related to competency development that the Company’s employees participated in in 2020 is disclosed as follows.

Tanggung Jawab terkait Ketenagakerjaan, Kesehatan, dan Keselamatan KerjaCorporate Social Responsibility in Employment, Occupational Health and Safety

Perseroan berkomitmen untuk memenuhi hak dan kewajiban karyawan melalui penerapan praktik-praktik terbaik di bidang ketenagakerjaan, kesehatan dan keselamatan kerja (K3). Komitmen tersebut diwujudkan dengan membentuk lingkungan kerja yang kondusif serta mengutamakan kesehatan dan keselamatan kerja bagi seluruh insan Perseroan.

Pelaksanaan Inisiatif

Pelaksanaan inisiatif tanggung jawab terkait K3 diuraikan sebagai berikut.

Ketenagakerjaan 1. Kesetaraan Gender dan Kesempatan Kerja Perseroan menjunjung tinggi asas keadilan dan kesetaraan

kepada seluruh karyawan dan calon karyawan Perseroan. Hal tersebut diwujudkan melalui proses rekrutmen yang dilaksanakan dengan objektif, tanpa adanya tindakan diskriminasi terhadap suku, ras, agama, jenis kelamin, ataupun golongan politik. Perseroan melakukan proses rekrutmen tersebut melalui iklan lowongan kerja di situs web Perseroan, melakukan kerja sama dengan berbagai universitas, melaksanakan job fair, atau bekerja sama dengan situs-situs pencari kerja.

2. Pengembangan Kompetensi Perseroan senantiasa mengikutsertakan karyawan dalam

berbagai program pengembangan kompetensi untuk meningkatkan produktivitas dan memperluas wawasan terkait bidang usaha yang dijalankan. Program pengembangan kompetensi yang diikuti karyawan difokuskan untuk membentuk sikap mental dan perilaku kerja (soft skill) serta meningkatkan keterampilan sesuai dengan bidang usaha yang dijalankan Perseroan (technical). Informasi terkait pengembangan kompetensi yang diikuti karyawan Perseroan tahun 2020 diungkapkan sebagai berikut.

Jenis TrainingType of Training



Soft skill PT Lippo General Insurance Tbk (Internal) Kantor Pusat & Daring melalui Zoom Meeting, Januari-Desember 2020Head Office & Online Via Zoom Meeting, January-December 2020

Hanoi, Vietnam, 15-18 Januari 2020Hanoi, Vietnam, January 15th-18th, 2020

Cipanas, West Java, 7-9 & 21-23 Februari 2020Cipanas, Jawa Barat, February 7th-9th & 21st-23rd, 2020



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Dunamis Jakarta, 20 Februari 2020Jakarta, February 20th, 2020

Daring melalui Zoom Meeting, April-Oktober 2020Online via Zoom Meeting, April-October 2020



Asosiasi Pengusaha Indonesia (APINDO)The Employers Association of Indonesia

Daring melalui Zoom Meeting, April-November 2020Online via Zoom Meeting, April-November 2020

Studilmu Daring melalui Zoom Meeting, 23-28 April 2020Online via Zoom Meeting, April 23rd-28th, 2020

Studilmu Daring melalui Zoom Meeting, 15-26 Juni 2020Online via Zoom Meeting, June 15th-26th, 2020

Johnson Daring melalui Zoom Meeting, 4 Mei & 12 Juni 2020Online via Zoom Meeting, May 4th & June 12th, 2020

Menuju Insan Cemerlang (MIC) Daring melalui Zoom Meeting, 9 & 16 Mei 2020Online via Zoom Meeting, May 9th & 16th, 2020

Daring melalui Zoom Meeting, 20-21 November 2020Online Via Zoom Meeting, November 20th-21st, 2020

HR Wikipedia Daring melalui Zoom Meeting, 9 Mei 2020Online via Zoom Meeting, May 9th, 2020

Data On Daring melalui Zoom Meeting, 19 Mei 2020Online via Zoom Meeting, May 19th, 2020

Risk Management Economic Sustainability and Actuarial Science Development in Indonesia (READI)


Asosiasi Ahli Manajemen Asuransi Indonesia (AAMAI)Indonesian Insurance Institute


United Registrar Systems (URS) Daring melalui Via Zoom Meeting, 1 September 2020Online via Zoom Meeting, September 1st, 2020

Perkumpulan Ahli Manajemen Jaminan dan Asuransi Kesehatan Indonesia (PAMJAKI)Association of Health Insurance Managers of Indonesia


Skills.id Daring melalui Zoom Meeting, 24 Oktober 2020Online via Zoom Meeting, October 24th, 2020

City Training-Indo Daring melalui Zoom Meeting, 5 November 2020Online via Zoom Meeting, November 5th, 2020

Asosiasi Asuransi Umum Indonesia (AAUI)General Insurance Association Of Indonesia


Upgrade Daring melalui Zoom Meeting, 2-3 Desember 2020Online via Zoom Meeting, December 2nd-3rd, 2020

Technical PT Lippo General Insurance Tbk (Internal) Kantor Pusat, Januari-Maret 2020Head Office, January-March 2020

Daring melalui Zoom Meeting, Maret-Desember 2020Online via Zoom Meeting, March-December 2020

Asosiasi Pengusaha Indonesia (APINDO)The Employers Association of Indonesia

Jakarta, Januari-Maret 2020Jakarta, January-March 2020

Daring melalui Zoom Meeting, Mei-Desember 2020Online via Zoom Meeting, May-December 2020

Insurance Innovators Indonesia Daring melalui Zoom Meeting, 19-20 Februari 2020Online via Zoom Meeting, February 19th-20th, 2020

Asosiasi Asuransi Umum Indonesia (AAUI)General Insurance Association Of Indonesia

Jakarta, 3 & 11 Maret 2020Jakarta, March 3rd & 11th, 2020





Daring melalui Zoom Meeting, Mei-Desember 2020Online via Zoom Meeting, May-December 2020

The Institute Internal Auditors Indonesia (IIA) Daring melalui Zoom Meeting, April-November 2020Online via Zoom Meeting, April-November 2020

Ikatan Akuntan Indonesia (IAI)Institute of Indonesia Chartered Accountants

Daring melalui Zoom Meeting, 29 April & 13 Mei 2020Online via Zoom Meeting, April 29th & May 13th, 2020

Center for Risk Management and Sustainability (CRMS) Daring melalui Zoom Meeting, April-Desember 2020Online via Zoom Meeting, April-December 2020


Daring melalui Zoom Meeting, Mei-November 2020Online via Zoom Meeting, May-November 2020

Danareksa Investment Management Daring melalui Zoom Meeting, 11 Mei 2020Online via Zoom Meeting, May 11th, 2020

Indonesia Re Daring melalui Zoom Meeting, 13 Mei 2020Online via Zoom Meeting, May 13th, 2020

City Training-Indo Daring melalui Zoom Meeting, 18 Mei & 6 Juni 2020Online via Zoom Meeting, May 18th & June 6th, 2020

Indonesian Senior Executives Association (ISEA) Daring melalui Zoom Meeting, 22 Juli 2020Online via Zoom Meeting, July 22nd, 2020

LPMA – Trisakti Daring melalui Zoom Meeting, 23 Juli 2020Online via Zoom Meeting, July 23rd, 2020

Anabatic Daring melalui Zoom Meeting, 27 Juli 2020Online via Zoom Meeting, July 27th, 2020

Dunamis

Lembaga Pengembangan Perbankan Indonesia (LPPI)Indonesian Banking Development Institute

Daring melalui Zoom Meeting, Juli-Oktober 2020Online via Zoom Meeting, July-October 2020

Maskapai Asuransi Indonesia (MAI) dan Perusahaan Asuransi Risiko Khusus (PARK)Maskapai Asuransi Indonesia (MAI) and Special Risk Insurance Companies (PARK)

Daring melalui Zoom Meeting, Juli-November 2020Online via Zoom Meeting, July-November 2020

Universitas Kristen Indonesia Daring melalui Zoom Meeting, 5 Agustus 2020Online via Zoom Meeting, August 5th, 2020

Lembaga Sertifikasi Profesi Manajemen Risiko (LSP MKS)Risk Management Professional Certification Institute


United Registrar Systems (URS) Daring melalui Zoom Meeting, 3 September 2020Online via Zoom Meeting, September 3rd, 2020

Swiss Re Daring melalui Zoom Meeting, 15 September-13 Oktober 2020Online via Zoom Meeting, September 15th-October 13th, 2020

Mercer Daring melalui Zoom Meeting, 23 September 2020Online via Zoom Meeting, September 23rd, 2020

Indonesia Canada Chamber of Commerce (ICCC) Daring melalui Zoom Meeting, 25 September 2020Online via Zoom Meeting, September 25th, 2020

Guy Carpenter Daring melalui Zoom Meeting, 19-23 Oktober 2020Online via Zoom Meeting, October 19th-23rd, 2020

Ikatan Dokter Indonesia (IDI) dan Perhimpunan Dokter Umum Indonesia (PDUI)Indonesian Medical Association and General Practitioners Association of Indonesian

Daring melalui Zoom Meeting, 14-29 November 2020Online via Zoom Meeting, November 14th-29th, 2020

Lembaga Sertifikasi Profesi Manajemen Risiko (LSPMR)Risk Management Professional Certification Institute

Daring melalui Zoom Meeting, 17-18 Desember 2020Online via Zoom Meeting, December 17th-18th, 2020

Human Resource Business Partner (HRBP) Daring melalui Zoom Meeting, 27 Desember 2020Online via Zoom Meeting, December 27th, 2020


Daring melalui Zoom Meeting, 5 Mei, 12 Juli & 1 Desember 2020Online via Zoom Meeting, May 5th, July 12th, & December 1st, 2020



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Berikut beberapa dokumentasi kegiatan pengembangan kompetensi yang diselenggarakan PT Lippo General Insurance Tbk (Internal) selama tahun 2020.

7-9 dan 21-23 Februari 2020February, 7th-9th and 21st-23rd 2020

Training “Together as One” Batch 1 dan 2 di Hotel Yasmin, Cipanas“Together as One” Training, Batch 1 and 2 at Hotel Yasmin, Cipanas

Merupakan training pengembangan diri (self-development) yang ditujukan untuk Medical Services Assistant, Personal Medical Assistant, Service Center, Staff Claim Cabang, dan beberapa staf departemen lain di kantor operasional.This is a self-development training for Medical Services Assistants, Personal Medical Assistants, Service Centers, Branch Claim Staff, and several other department staff in operational offices.

27 Februari 2020February 27th, 2020

Basic Insurance Training: Risk ManagementBasic Insurance Training: Risk Management

Merupakan training yang ditujukan bagi karyawan baru Perseroan agar lebih mengerti mengenai ilmu dasar asuransi bidang risk management. Melalui training ini diharapkan dapat memperkaya pengetahuan karyawan Perseroan di bidang asuransi serta bermanfaat dalam menunjang pelaksanaan tugas dan tanggung jawabnya.The training is for new employees so they have a better understanding of the basic knowledge of insurance in the risk management field. This training is expected to enrich the employee’s knowledge in the insurance sector as well as useful in supporting the implementation of their duties and responsibilities.

27 Februari 2020February 27th, 2020

Grooming and Beauty ClassGrooming and Beauty Class

Acara ini diadakan untuk mengajarkan karyawati Perseroan mengenai cara untuk berpakaian serta merias wajah sesuai dengan tipe wajah yang dimiliki. Acara ini diharapkan dapat meningkatkan rasa percaya diri para karyawati.This event was held to teach the employees on how to dress and apply makeup according to the type of their face. This event is expected to increase employee’s self confidence.

26 Juni 2020June 26th, 2020

Basic Insurance Training: Pengantar Dasar AsuransiBasic Insurance Training: Introduction to Basic Insurance

Training dengan pembicara Emma Paulina Balubun ini diselenggarakan untuk mengedukasi karyawan mengenai ilmu dasar asuransi yang penting untuk diketahui. Training ini diikuti oleh karyawan dari berbagai departemen dan cabang secara online melalui Zoom Meeting.The training with Emma Paulina Balubun as the speaker was held to educate employees about important basic knowledge of insurance. This training was attended by employees from various departments and branches through the Zoom Meeting.

12 Agustus 2020August 12th, 2020

Webinar “Comprehensive General Liability Insurance (CGL)”Webinar on “Comprehensive General Liability Insurance (CGL)”

Webinar ini membahas mengenai produk asuransi CGL dengan pembicara Muharom Febriyanto. Webinar yang diselenggarakan melalui Zoom Meeting ini bertujuan untuk mengedukasi karyawan agar ilmu yang didapat berguna bagi lingkup kerja mereka.This webinar discussed CGL insurance products with Muharom Febriyanto as the speaker. The purpose of the webinar held through the Zoom Meeting was to educate employees so the knowledge they get can be useful for their scope of work.

Herewith are some documentation of competency development activities conducted by PT Lippo General Insurance Tbk (Internal) during 2020.



Webinar Cara Mendaftar dan Persiapan Ujian Asosiasi Ahli Manajemen Asuransi Indonesia (AAMAI)Webinar on How to Register and Prepare for Exam organized by the Indonesian Insurance Institute (AAMAI)

Webinar ini bertujuan untuk memberikan informasi kepada karyawan Perseroan mengenai ujian sertifikasi asuransi yang diselenggarakan AAMAI dalam rangka meningkatkan kompetensi kerja karyawan.The purpose of this webinar was to provide information to the employees regarding the insurance certification exam organized by AAMAI to improve employees’ job competence.


Webinar “Basic Insurance Training – Contractor’s Plant & Machinery Insurance (CPM)”Webinar on “Basic Insurance Training - Contractor’s Plant & Machinery Insurance (CPM)”

Webinar ini membahas mengenai CPM bagi karyawan Perseroan agar mereka lebih mengerti dan dapat diaplikasikan ke lingkup kerja. Pembicara dalam webinar ini adalah Yudi Hardian Hidayat selaku Senior Adjuster PT Radita Hutama Internusa.This webinar discussed CPM for the employees so that they can have a better understanding and can applied it to their work’s scope. The speaker in this webinar was Yudi Hardian Hidayat as Senior Adjuster of PT Radita Hutama Internusa.

26 Oktober 2020October 26th, 2020

Training PowerPoint Tips: How to Make Your Points PowerfulTraining on PowerPoint Tips: How to Make Your Points Powerful

Training ini diselenggarakan untuk meningkatkan kemampuan persentase dan design powerpoint para karyawan Perseroan sehingga dapat mendukung performa kerjanya.This training was held to improve the employee’s presentation skills and powerpoint design to support their work performance.

2 Desember 2020December 2nd, 2020

Sosialisasi Anti Pencucian Uang (APU) dan Pencegahan Pendanaan Terorisme (PPT)Anti Money Laundering and Counter Financing of Terrorism Dissemination

Sebagai lembaga keuangan, Perseroan mengadakan sosialisasi APU dan PPT untuk memberikan pemahaman kepada karyawan mengenai kedua hal tersebut. Pembicara dalam acara ini adalah Satini Kartika Sari.As a financial institution, the Company conducts AML and CFT dissemination to provide employees with an understanding on both matters. The speaker in this event was Satini Kartika Sari.

11 Desember 2020December 11th, 2020

Basic Insurance Training – Risk ManagementBasic Insurance Training - Risk Management

Training yang dilaksanakan untuk kedua kalinya di tahun 2020 ini bertujuan untuk refreshment.The training, which was being held for the second time in 2020, was aimed for refreshment.

Biaya yang dikeluarkan Perseroan untuk pelaksanaan program pengembangan kompetensi tersebut mencapai Rp4,47 miliar, meningkat bila dibandingkan tahun 2019 yang tercatat sebesar Rp3,21 miliar.

The costs spent by the Company for the implementation of competency development programs were amounted to Rp4.47 billion, an increase compared to 2019 of Rp3.21 billion.



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Selain program pengembangan kompetensi, Perseroan juga memiliki berbagai program khusus bagi karyawan yang diuraikan sebagai berikut. a. Pendidikan Sebagai bentuk dukungan terhadap Program 1.000

Aktuaris yang dicanangkan oleh Otoritas Jasa Keuangan, Perseroan telah menugaskan dan memfasilitasi 9 karyawan untuk memperoleh gelar di bidang tersebut.

b. Sertifikasi Program yang didukung Perseroan untuk membantu

karyawan dalam memperoleh gelar dan sertifikasi. Rincian gelar dan sertifikasi yang diperoleh karyawan Perseroan selama tahun 2020 diungkapkan sebagai berikut.

Jenis Gelar dan SertifikasiType of Degree and Certification

Jumlah Karyawan(Orang)

Number of Employees (People)

Ajun Ahli Asuransi Kerugian (AAAIK)Ajun of Loss Insurance Expert 13

Ahli Asuransi Kerugian (AAIK)Loss Insurance Expert 4

Certified Risk Governance Professional (CRGP) 2

Certified Risk Management Professional (CRMP) 2

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) (Assoc CIP) 12

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) (Snr.Assoc CIP) 2

Ahli Manajemen Risiko Perusahaan (AMRP)Company Risk Management Expert 3

Total 38

c. Management Trainee (MT) Dalam rangka membentuk sumber daya manusia yang

unggul dan kompeten, Perseroan menggelar program trainee atau dikenal dengan Officer Development Program (ODP) yang terdiri dari 2 tahap, yaitu in-class training yang dilaksanakan selama 1 bulan dan selanjutnya on-job training yang diselenggarakan selama 2 tahun dengan sistem “fast track career”. Pada tahun 2019, Perseroan telah menyelenggarakan ODP Batch XIX, di mana para pesertanya saat ini sedang menjalani on the job training di departemen-departemen yang ditetapkan.

3. Remunerasi Perseroan memberikan remunerasi kepada karyawan

sebagai apresiasi atas kinerjanya dan juga sebagai bentuk motivasi bagi karyawan untuk lebih mengembangkan potensi diri dalam bekerja. Perseroan menentukan remunerasi berpedoman pada Undang-Undang No. 13 Tahun 2003 tentang Ketenagakerjaan serta turut mempertimbangkan posisi jabatan dan kinerja karyawan.

c. Management Trainee (MT) In order to obtain superior and competent Human

Resources, the Company implements the trainee program or generally known as the Officer Development Program (ODP) that comprised of 2 phases, namely in-class training for 1 month and on-job training for 2 years with a “fast track career” system. In 2019, the Company organized ODP Batch XIX, where the participants are currently undergoing on the job training in designated departments.

3. Remuneration The Company provides remuneration to employees as an

appreciation for their performance and also as a form of motivation for employees to further develop their potential at work. The Company determines remuneration based on Law No. 13 Year 2003 on Employment and also considering the employee’s position and performance.

In addition to competency development programs, the Company also has various special programs for employees described as follows.a. Education To support the 1,000 Actuary Program launched by

the FSA, the Company had assigned and facilitated 9 employees to obtain Actuary degree.

b. Certification A program supported by the Company to assist employees

in obtaining degrees and certifications. Details of the degree and certifications obtained by the employees during 2020 are disclosed as follows.


4. Waktu Kerja dan Hak Cuti Untuk meningkatkan produktivitas karyawan, Perseroan

mengatur waktu kerja dan hak cuti dengan berpedoman pada perundang-undangan yang berlaku. Setiap karyawan Perseroan mendapatkan hak cuti, seperti cuti tahunan, cuti sakit, cuti melahirkan, dan lainnya yang disesuaikan dengan peraturan Perseroan.

5. Komposisi dan Tingkat Perputaran Karyawan Hingga akhir Desember 2020, Perseroan memiliki

karyawan sebanyak 508 orang. Jumlah tersebut menurun dibandingkan tahun 2019, karena terdapat peserta ODP dan beberapa karyawan yang mengundurkan diri, serta terdapat karyawan yang sudah memasuki masa pensiun. Informasi mengenai komposisi karyawan Perseroan dijelaskan pada tabel berikut.

UraianDescription

2020 2019

Total % Total %

Berdasarkan Gender / Based on Gender

Pria / Male 211 41,54 218 41,76

Wanita / Female 297 58,46 304 58,24

Total 508 100,00 522 100,00

Berdasarkan Usia / Based on Age

21-30 tahun / years old 311 61,22 332 63,60

31-40 tahun / years old 130 25,59 127 24,33

>41 tahun / years old 67 13,19 63 12,07

Total 508 100,00 522 100,00

Berdasarkan Status Kepegawaian / Based on Employment Status

Karyawan Tetap / Permanent Employees 340 66,93 313 59,96

Karyawan Kontrak / Contract Employees 168 33,07 209 40,04

Total 508 100,00 522 100,00

Berdasarkan Penempatan Kerja / Based on Work Location

Kantor Pusat / Head Office 422 83,07 421 80,65

Kantor Cabang / Branch Offices 86 16,93 101 19,35

Total 508 100,00 522 100,00

Berdasarkan Pendidikan / Based on Education

SMA / High School 4 0,79 4 0,77

Diploma 114 22,44 99 18,97

Sarjana / Bachelor 372 73,23 405 77,59

Magister / Post Graduate 18 3,54 14 2,68

Total 508 100,00 522 100,00

Berdasarkan Level Organisasi / Based on Organization Level

Direktur / Director 4 0,79 3 0,57

Manajer / Manager 69 13,58 64 12,26

Staf / Staff 143 28,15 156 29,89

Non-Staf / Non-Staff 292 57,48 299 57,28

Total 508 100,00 522 100,00

4. Working Time and Employee Leave Entitlements To increase the employee productivity, the Company

regulates Working Time and Employee Leave Entitlements based on applicable laws and regulations. Every employee is entitled to have various leaves, such as annual leave, sick leave, maternity leave, and other leaves that are tailored to Company’s policy.

5. Employee Composition and Turnover Rate Until the end of December 2020, the Company had

508 employees. This number of employees decreased compared to 2019, because there were ODP participants and several employees who resigned, and there were employees who entered retirement. Information regarding the Company’s employees composition is described in the following table.



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Tingkat Turnover / Turnover Rate


Karyawan Masuk / Incoming Employees 56 128

Karyawan Keluar / Outgoing Employees 82 128

Total Karyawan / Number of Employees 508 522

Tingkat Perputaran Karyawan (%) / Employee Turnover Rate (%) 15,92 25,12

6. Rencana Pengembangan Organisasi dan Sumber Daya ManusiaDalam rangka meningkatkan kapabilitas dan kualitas SDM, Perseroan telah menyusun dan merealisasikan pengembangan organisasi dan SDM pada tahun 2020 yang dijelaskan sebagai berikut.a. Rencana Pengembangan Organisasi Rencana pengembangan organisasi Perseroan di

tahun 2020, yaitu:1) Mentransformasikan Divisi Human Resource and

General Services menjadi People Development and General Services yang tugasnya membawahi Talent Management, Compensation and Benefit dan General Services;

2) Divisi IT membawahi Digital Support (sebelumnya di bawah Direktorat Commercial), System Development, Network, dan Security;

3) Menggabungkan Claim Health Reimbursement dan Provider menjadi Claim Health;

4) Departemen General Non-MV dibagi menjadi General Non-MV 1 dan 2;

5) Divisi BU Engineering and Retail akan difokuskan ke Retail saja menjadi BU Retail;

6) Membentuk Commercial Business Unit yang terdiri dari Marine and Miscellaenous serta Property and Engineering Business Unit;

7) Membentuk Alternative Channel untuk Channel Business yang baru;

8) Memindahkan Account Development 1, Account Development 2, Corporate Relation 1, dan Corporate Relation 2 di bawah Corporate Relation;

9) Membentuk Direktorat Compliance, memindahkan Corporate Secretary dan Quality Assurance (QA) di bawah Direktorat Compliance; serta

10) Membagi Internal Audit and Quality Assurance menjadi 2, yaitu Internal Audit tetap di bawah Presiden Direktur dan Quality Assurance di bawah Direktorat Compliance.

b. Rencana Pemenuhan Sumber Daya Manusia (SDM) Rencana pemenuhan SDM tahun disusun sesuai

dengan rencana pengembangan usaha serta mempertimbangkan efisiensi perusahaan. Pada tahun 2021, pemenuhan SDM karyawan difokuskan untuk memenuhi jabatan kosong dan penambahan karyawan pada beberapa posisi yang dituangkan dalam Man Power Planning (MPP).

6. Organizational and Human Resources Development Plan

In order to improve Human Resources’ capabilities and quality, the Company has developed and realized the following organizational and HR development plan for 2021.a. Organizational Development Plan The Company’s organizational development plan in

2020, i.e.:1) Transforms the Human Resource and General

Service Division into People Development and General Service Division responsible for supervising Talent Management, Compensation and Benefit, and General Services;

2) The IT Division is in charge of Digital Support (previously under the Commercial Directorate), System Development, Network, and Security;

3) Combines Claim Health Reimbursement and Provider into Claim Health;

4) The General Non-MV Department is divided into General Non-MV 1 and 2;

5) The BU Engineering and Retail Division will focus on Retail only as BU Retail;

6) Establishes Commercial Business Unit consisting of Marine and Miscellaneous and Property and Engineering Business Unit;

7) Establishes Alternative Channel for the new Business Channel;

8) Transfers Account Development 1, Account Development 2, Corporate Relation 1, and Corporate Relation 2 to under Corporate Relation;

9) Establishes Compliance Directorate, transfer Corporate Secretary and Quality Assurance (QA) to under the Compliance Directorate; and

10) Divides Internal Audit and Quality Assurance into 2, the Internal Audit which remains under the President Director and Quality Assurance under the Compliance Directorate.

b. Human Resources (HR) Fulfillment Plan The HR fulfillment plan for the year was prepared in

accordance with the business development plan and by considering the Company efficiency. In 2021, the fulfillment of HR employees will be focused on filling vacant positions and adding employees in several positions as outlined in the MPP.


c. Rencana Pelaksanaan Pengembangan Kompetensi untuk Dewan Komisaris, Direksi, dan Karyawan

Rencana pengembangan kompetensi untuk seluruh karyawan Perseroan tahun 2021 diuraikan sebagai berikut.

TopikSubject

Calon PesertaParticipant

Waktu Pelatihan Tahun 2021Training Period in 2021

Supervises and monitors Staf dan SupervisorStaffs and Supervisors

MaretMarch

Leadership: Basic SupervisorSupervisors

April

Leadership: Advance Head of Department JuliJuly

Grooming & Beauty Class Karyawati baru dan karyawati yang belum pernah mengikutiNew employees who have not attend it

Maret, Juni, September & DesemberMarch, June, September & December

Character Building Staf dan SupervisorStaffs and Supervisors

November(dengan catatan pandemi berakhir)

November(provided the pandemic is over)

Work Life Balanced Semua KaryawanAll employees

Februari & JuniFebruary & June

Basic to Advanced Ms. Office Februari & SeptemberFebruary & September

Basic Insurance: General & Health Setiap bulanEvery month

General Insurance: Advance

Webinar with Riliv April & MeiApril & May

(direncanakan setiap bulan sesuai kerja sama dengan Riliv)(planned every month based on agreement with Riliv)

Public Speaking Head of Department JuniJune

Kesehatan dan Keselamatan Kerja

Program yang dilakukan Perseroan terkait kesehatan dan keselamatan kerja, yaitu:1. Melakukan pemeriksaan secara berkala kepada seluruh

karyawan menial yang dilaksanakan di kantor operasional Perseroan oleh para dokter dari Komite Medis;

2. Melakukan sosialisasi mengenai kesehatan dan keselamatan kerja (K3) secara rutin yang mencakup simulasi saat terjadi kebakaran dan gempa, serta jalur evakuasi;

3. Menyediakan kotak pertolongan pertama pada kecelakaan (P3K) serta obat-obatan lainnya;

4. Menyediakan alat perangkap nyamuk dan fogging nyamuk;5. Menyediakan alat pemadam api ringan (APAR) di kantor

pusat maupun kantor cabang/pemasaran;6. Memberikan pengarahan rutin kepada karyawan terkait

menjaga kebersihan di lingkungan kantor; serta7. Memberikan fasilitas BPJS Kesehatan, BPJS

Ketenagakerjaan, dan BPJS Ketenagakerjaan Jaminan Pensiun.

Occupational Health and Safety

Programs carried out by the Company related to occupational health and safety are as follows:1. Conducts regular checkups for all menial employees

held in operational offices by doctors from the Medical Committee;

2. Conducts regular dissemination regarding occupational health and safety (K3) that included fire and earthquake drills, as well as evacuation routes;

3. Provide first aid kits (P3K) and other medicines;

4. Provides mosquito trap and mosquito fogging equipment;5. Provides light fire extinguishers at the head office and

branch/marketing offices;6. Provides regular briefing to employees on maintaining

cleanliness in the office environment; and7. Provides Healthcare BPJS, Employment BPJS, and

Employment Pension Security BPJS facilities.

c. Competency Development Implementation Plan for the Board of Commissioners, Board of Directors, and Employees

Competency development plans for all of the Company’s employees in 2021 are described as follows.



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Pencegahan dan Pengendalian Covid-19Selain mengutamakan K3 operasional, Perseroan juga memberikan penanganan khusus terkait corona virus disease (Covid-19) kepada karyawan sesuai dengan kebijakan yang berlaku. Kegiatan penanganan Covid-19 yang dilakukan Perseroan di tahun 2020, yaitu:1. Membentuk Tim Pencegahan dan Pengendalian Covid-19

yang mengkoordinasikan semua upaya pencegahan dan pengendalian Covid-19 di kawasan kantor;

2. Melakukan pengecekan suhu tubuh di pintu masuk kantor pusat maupun kantor cabang;

3. Mewajibkan seluruh karyawan untuk mencuci tangan dan menggunakan hand sanitizer sebelum melakukan aktivitas di kawasan kantor;

4. Mewajibkan seluruh karyawan untuk menggunakan masker medis;

5. Menghimbau seluruh karyawan untuk selalu menjaga jarak pada saat melakukan aktivitas;

6. Memberikan vaksin influenza bagi karyawan untuk memperkuat sistem imun. Vaksinasi ini penting karena gejala influenza serupa dengan Covid-19;

7. Melaksanakan rapid diagnostic test (RDT) Covid-19 untuk karyawan yang dalam pelaksanaan pekerjaannya berinteraksi langsung dengan pihak lain;

8. Melakukan sosialisasi dan edukasi mengenai Covid-19 kepada seluruh karyawan Perseroan;

9. Meminimalkan interaksi fisik antara karyawan, nasabah, dan rekanan atau pihak lainnya dengan memaksimalkan penggunaan sarana komunikasi non-tatap muka;

10. Tidak menerima tamu bisnis atau pribadi di kawasan kantor;

11. Melakukan rapat secara daring melalui Zoom Meeting, Google Meet, dan aplikasi serupa lainnya;

12. Meminimalkan penggunaan berkas hardcopy, seperti kartu peserta asuransi yang diubah menjadi e-Card (softcopy) dan menerima klaim dari tertanggung secara e-Claim melalui aplikasi dan dokumen dari rumah sakit yang dikirim melalui email;

13. Memberikan edukasi terkait penanganan Covid-19 kepada seluruh karyawan yang dapat diakses melalui portal internal Perseroan;

14. Menyusun kebijakan pembagian kerja karyawan, seperti kerja dari rumah (KDR) dan kerja dari kantor (KDK); serta

15. Menyediakan mesin sterilisasi untuk mensterilisasikan makanan, minuman, atau bahkan setiap dokumen yang dibawa ke kawasan kantor.

Covid-19 Prevention and ControlIn addition to prioritizing operational OHS, the Company also provides special handling related to corona virus disease (Covid-19) to employees in accordance with applicable policies. Covid-19 handling activities carried out by the Company in 2020 are as follows:1. Establishes a Covid-19 Prevention and Control Team that

coordinates all Covid-19 prevention and control efforts in the office area;

2. Checks body temperature at the entrance of the head office and branch offices;

3. Requires all employees to wash their hands and uses hands sanitizer before carrying out activities in the office area;

4. Requires all employees to wear a medical mask;

5. Urges all employees to always keep their distance when carrying out activities;

6. Provides influenza vaccines for employees to strengthen the immune system. This vaccination is important because influenza symptoms are similar to Covid-19;

7. Carry out the Covid-19 rapid diagnostic test (RDT) for people-facing employees in the implementation of their work;

8. Conducts dissemination and provides education about Covid-19 to all employees;

9. Minimizes physical interactions between employees, customers, and partners or other parties by maximizing the use of non-face-to-face communication facilities;

10. Enforces the prohibition to receive business or personal guests in the office area;

11. Conducts online meetings through Zoom Meeting, Google Meet, and other similar applications;

12. Minimizes the use of hardcopy files, such as insurance participant cards that are converted into e-Cards (softcopy) and receives claims from the insured by e-Claim through applications and documents from hospitals sent via email;

13. Provides education related to the Covid-19 handling to all employees which can be accessed through the Company’s internal portal;

14. Prepares a policy regulates work time arrangement for employees, such as work from home (WFH) and work from the office (WFO); and

15. Provides sterilization machines to sterilize food, drinks, or even any documents that are brought to the office area.


Kegiatan lain yang diselenggarakan Perseroan dalam pengendalian dan penanganan Covid-19, khususnya terhadap karyawan, selama tahun 2020 diungkapkan sebagai berikut.

12 Maret 2020March 12th, 2020

Vaksin Influenza Batch 1 dan 2Influenza Vaccine Batch 1 and 2

Pemberian vaksin influenza kepada karyawan Kantor Operasional-Karawaci.Provided influenza vaccines to employees of the Operational Office-Karawaci.

21 April 2020April 21th, 2020

Rapid TestRapid TestPerseroan mengadakan rapid diagnostic test (RDT) Covid-19 kepada sebagian karyawan yang masih kerja di kantor (KDK) di Kantor Operasional-Karawaci.

The Company conducted a Covid-19 rapid diagnostic test (RDT) for some employees who were still working at the office (WFO) at the Karawaci Operational Office.

10 Juni 2020June 10th, 2020

Webinar “Protokol Kesehatan Era New Normal di Lingkungan Kerja”Webinar on “The New Normal Era Health Protocols in the Working Environment”

Webinar kesehatan dengan pembicara dr. Yitro AC Wilar, MKK, Sp.Ok, yang membahas mengenai protokol kesehatan dalam pekerjaan.Health webinar with dr. Yitro AC Wilar, MKK, Sp.Ok as the speaker who discussed health protocols at work.


Staf BerjemurSunbathing for Staffs

Para karyawan yang bekerja di kantor dapat berjemur pada pukul 09.00-10.00 WIB secara bergantian per departemen untuk meningkatkan daya tahan tubuh mereka.The employees who work in the office may sunbathe at 09.00-10.00 in the morning alternating between departments to increase their body immune system.

21 September 2020September 21st, 2020

Sidak Masker dan Pembagian VitaminSurprise Inspection of Face Mask and Vitamin Distribution

Mengingat pentingnya memakai masker di kantor, Perseroan mengadakan sidak masker untuk memastikan karyawan menggunakan masker. Selain itu, karyawan juga diberi vitamin dalam rangka memperkuat imun mereka.Given the importance of wearing face masks in the office, the Company routinely conducts surprise inspection on face mask to ensure employees use face masks. In addition, employees are also given vitamins to strengthen their immunity.


Pembagian Vitamin CDistribution of Vitamin C

Karyawan di Kantor Operasional Perseroan mendapatkan vitamin C untuk membantu menguatkan daya tahan tubuh selama bekerja di kantor. Pemberian vitamin C tersebut dilakukan secara berkelanjutan pada hari selasa setiap minggunya.The employee at the Operations Office receives vitamin C to help strengthen their immune system while working in the office. The provision of vitamin C is done regularly on Tuesday every week.

Other activities carried out by the Company in controlling and handling Covid-19, especially for employees, in 2020 are disclosed as follows.



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Sejalan dengan adanya kebijakan pembagian kerja (KDR dan KDK), pada bulan Oktober 2020, Perseroan memfasilitasi karyawan dengan 285 unit laptop.

Pada akhir tahun 2020, Perseroan mengadakan “Strava Challenge”, di mana kegiatan utama tantangan ini adalah mengajak karyawan untuk berolahraga. Hal ini dilakukan karena Perseroan meyakini bahwa dengan berolahraga dapat meningkatkan imunitas tubuh bagi karyawan yang telah mengikuti tantangan ini dengan baik.

Perbaikan Sarana dan Prasarana Kerja

Pada tahun 2020, Perseroan melakukan perbaikan sarana dan prasarana sebagai salah satu upaya untuk memenuhi protokol kesehatan Covid-19 di lingkungan kerja PT Lippo General Insurance Tbk. Perbaikan sarana dan prasarana yang dilakukan Perseroan, diuraikan pada tabel di bawah ini.

KegiatanActivities

Tempat dan Waktu PelaksanaanVenue and Time

Perawatan berkala seperti AC, genset, mobil operasional, pengisian tabung APAR, dan lain-lainnyaPeriodic maintenance on air conditioning, generators, operational cars, filling light fire extinguishers, and others

Kantor Pusat dan Kantor Cabang yang dilakukan secara berkalaHead Office and Branch Offices which are conducted periodically

Perbaikan ruangan/area yang mengalami kebocoran dan kerusakanRepair rooms/areas that have leaks and damage/broken

Kantor Pusat dan Kantor CabangHead Office and Branch Offices

Kebersihan dan perawatan di area kerja dan di lingkungan kantorCleanliness and maintenance in the work area and in the office environment

Memperbaharui jalur evakuasi sesuai denah ruangan kerja dan penunjukkan person in charge (PIC) untuk kondisi darurat di setiap DepartemenUpdate evacuation routes according to the workspace plan and appointment of a person in charge (PIC) for emergency conditions in each department


Memanfaatkan tanaman hijau di dalam area kantor untuk meningkatkan kesehatan kerja Utilizing green plants in the office area to improve occupational health


Pengadaan kotak P3K, medical kit, tabung oksigen, tandu dan ruang kesehatan, bila diperlukan untuk kondisi daruratProcurement of first aid kits, medical kits, oxygen cylinders, stretchers and health rooms, if needed for emergency conditions


Penggantian kran sensor di wastafelReplacement with automatic faucet in sink

Kantor Operasional, pada bulan JuliOperational Office, in July

Penggunaan alat steril Ozone Box untuk dokumen yang diterima Perusahaan setiap hari dan UV Box untuk makanan yang dibawa dari luar oleh KaryawanUse of sterile Ozone Box for documents received by the Company every day and UV Box for food brought from outside by employees

Kantor Operasional, pada bulan SeptemberOperational Office, in September

Pengadaan microwave untuk mendorong karyawan membawa bekal, menjaga kebersihan makanan yang dibawa karyawan, serta untuk membiasakan karyawan agar tidak makan di luar kantorProvision of microwaves to encourage employees to bring food from home, keep the cleanliness of food brought by employees, and to habituate the employees not to eat outside the office


Penggunaan form assessment bagi tamu yang akan datang/berkunjung ke kantor dan hasilnya divalidasi terlebih dahuluUse of the assessment form for guests who will come/visit the office and the results should be validated


Pembagian corona finger bagi karyawanDistribution of corona finger for employees

Kantor Pusat dan Kantor Cabang, pada bulan AgustusHead Office and Branch Offices, in August

Menempatkan alat pembersih udara di beberapa ruangan tertutup/tidak ada ventilasi udaraPlacement of air purifier in some closed/no air ventilation rooms

Kantor Operasional, pada bulan OktoberOperational Office, in October

Penyemprotan disinfektanDisinfectant spraying

Kantor Pusat dan Kantor Cabang yang dilakukan secara berkalaHead Office and Branch Offices which are conducted periodically

In line with the working arrangement (WFH and WFO) policy, in October 2020, the Company facilitated employees with 285 laptops.

At the end of 2020, the Company held the “Strava Challenge”, where the main activity of this challenge is to encourage employees to exercise. This was done because the Company believes that exercise can increase the body’s immune system for employees who have followed this challenge satisfactorily.

Improvement of Work Facilities and InfrastructureIn 2020, the Company made improvements to the facilities and infrastructure as an effort to fulfill Covid-19 health protocol within PT Lippo General Insurance Tbk work environment. Any improvement of facilities and infrastructure is described in the table below.


The Company is committed to establishing good relationships and providing benefits to the community through social affair and community development activities. These activities are carried out to improve the welfare of the community.


The implementation of responsibility initiatives in social affairs and community development is described as follows.1. Employing Local Workers The Company is committed in providing employment

opportunities to the surrounding community to help improve the economic welfare. The recruitment is done by taking into account the position and skills needs.

2. Anti-Corruption and Gratification Policy The Company implements an anti-corruption and

gratification policy to create clean business activities that are free from corruption, collusion, and nepotism. The Shareholders and other stakeholders must also comply with this policy.

Mekanisme Pengaduan Masalah

Pengaduan masalah terkait K3 dapat disampaikan melalui person in charge, yaitu Departement General Service. Setiap pengaduan yang masuk akan diproses dan ditindaklanjuti dengan baik dan profesional. Selama tahun 2020, Perseroan tidak menerima pengaduan masalah terkait K3.

Dampak

Pelaksanaan program terkait K3 memberikan dampak positif bagi Perseroan, yaitu:1. Mengurangi tingkat kecelakaan kerja di dalam Perseroan; serta2. Terjaganya tingkat produktivitas karyawan.

Sertifikasi dan Penghargaan

Perseroan belum terlibat dalam inisiatif eksternal ataupun penilaian lainnya pada program CSR terkait ketenagakerjaan, kesehatan dan keselamatan kerja.

Tanggung Jawab terkait Pengembangan Sosial dan KemasyarakatanResponsibility in Social Affairs and Community Development

Perseroan berkomitmen untuk menjalin hubungan baik dan memberikan manfaat kepada masyarakat melalui kegiatan pengembangan sosial dan kemasyarakatan. Kegiatan tersebut dilakukan dalam rangka meningkatkan kesejahteraan masyarakat.


Pelaksanaan inisiatif tanggung jawab terkait pengembangan sosial dan kemasyarakatan diuraikan sebagai berikut.1. Penggunaan Tenaga Kerja Lokal Perseroan berkomitmen memberikan peluang kerja kepada

masyarakat sekitar untuk membantu meningkatkan kesejahteraan ekonomi masyarakat. Perekrutan tersebut disesuaikan dengan posisi dan keterampilan yang dibutuhkan oleh Perseroan.

2. Kebijakan Anti Korupsi dan Gratifikasi Perseroan menerapkan kebijakan anti korupsi dan

gratifikasi untuk menciptakan kegiatan bisnis yang bersih dan bebas dari praktik korupsi, kolusi, dan nepotisme. Kebijakan ini wajib dipatuhi oleh Pemegang Saham dan pemangku kepentingan lainnya.

Complaints Mechanism

Complaints related to OHS can be submitted through the person in charge, i.e. the General Service Department. Every incoming complaint will be processed and followed up properly and professionally. In 2020, the Company did not receive any complaints related to OHS.

Impact

The implementation of OHS-related programs has a positive impact on the Company, i.e.:1. Reducing of work accidents rate within the Company; and2. Maintaining employee productivity levels.

Certifications and Awards

The Company has not been involved in external initiatives or other assessments on CSR programs related to employment, occupational health and safety.



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3. Perbaikan Sarana dan Prasarana Pada tahun 2020, Perseroan tidak melaksanakan

perbaikan sarana dan prasarana untuk masyarakat. Hal ini dikarenakan program pengembangan sosial dan kemasyarakatan Perseroan difokuskan pada bidang pendidikan, literasi keuangan, dan donasi lainnya.

4. Pemberdayaan Masyarakat Perseroan melaksanakan berbagai kegiatan pemberdayaan

masyarakat di tahun 2020 diungkapkan sebagai berikut.

KegiatanActivities

Waktu PelaksanaanTime

PendidikanEducation

LGI Goes to CampusWebinar dan campus hiring “LGI Goes to Campus” diikuti oleh mahasiswi dari Akademi Kebidanan (AKBID) Karya Bunda Husada - Tangerang angkatan 14. Melalui acara ini, Grace Paskahlisa selaku pembicara memberikan tips dan trik mencari pekerjaan serta menginformasikan beberapa lowongan pekerjaan di LippoInsurance.Webinars and campus hiring via “LGI Goes to Campus”program was attended by students from the Midwifery Academy (AKBID) Karya Bunda Husada - Tangerang batch 14. Through this event, Grace Paskahlisa, as the speaker, gave tips and tricks on how to find work and gave information of several vacancies job at LippoInsurance.

22 September 2020September 22nd, 2020

Webinar Persiapan Kerja YukWebinar mengenai persiapan dalam memasuki dunia kerja dan menginformasikan bagaimana proses rekrutmen di Perseroan, serta pengenalan Perseroan kepada mahasiswa Pusat Layanan Psikologi (PLP) Universitas Kristen Krida Wacana (UKRIDA) Jakarta yang memiliki minat untuk bekerja ataupun mengikuti program magang.Webinar on Job PreparationWebinar on the preparation for entering the employment world and information about the Company’s recruitment process, as well as an introduction of the Company to students of the Psychology Service Center (PLP) Universitas Kristen Krida Wacana (UKRIDA), Jakarta who have an interest in working or participating in apprenticeship program.

12 Desember 2020December 12th, 2020

Beasiswa Anak KaryawanPemberian bantuan dana pendidikan kepada anak karyawan Perseroan yang berprestasi di sekolahnya untuk yang terpilih sesuai dengan kriteria yang telah ditetapkan.Scholarships for Employee’s ChildrenProvided educational scholarship to selected employee’s children who excel in their schools according to predetermined criteria.

1 Januari- 31 Desember 2020January 1st-December 31st, 2020

Beasiswa Kerja Sekolah Tinggi Manajemen dan Risiko Asuransi (STIMRA)Pemberian beasiswa kepada siswa-siswa berprestasi dari sekolah asuransi, yang kemudian dididik oleh Perseroan untuk menjadi karyawan yang kompeten di bidang asuransi.Working Scholarship for Sekolah Tinggi Manajemen dan Risiko Asuransi (STIMRA)Providing scholarships to outstanding students from insurance schools, who are then trained by the Company to become competent employees in the insurance sector.

Sudah dilaksanakan sejak tahun 2017 dan berlanjut hingga tahun 2020.It has been implemented since 2017 and continues until 2020.

3. Improvement of Facilities and Infrastructure In 2020, the Company did not repair any facilities and

infrastructure for the community. This was due to social and community development programs was focused on the education, financial literacy, and other donation programs.

4. Community Empowerment The Company conducted various community empowerment

activities in 2020 which are described as follows.


KegiatanActivities

Waktu PelaksanaanTime

Donasi LainnyaOther Donations

Bantuan Sembako Pemberian bantuan sembako kepada anak-anak penyandang disabilitas yang dirawat dan dipelihara oleh Yayasan Sayap Ibu, yaitu yayasan yang bergerak di bidang kesejahteraan sosial dan kemasyarakatan yang berlokasi di Bintaro, Tangerang. Basic Food AssistanceProviding basic food assistance to children with disabilities who are treated and fostered by Sayap Ibu Foundation, a foundation engaged in the social welfare and community services sector located in Bintaro, Tangerang.

20 Mei 2020May 20th, 2020

Virtual BAF Lions Run 2020Perseroan ikut berpartisipasi dalam kegiatan sosial yang diselenggarakan oleh PT Bussan Auto Finance (BAF). Kegiatan tersebut bertujuan mengumpulkan dana untuk membeli 20.000 kacamata yang akan didonasikan kepada siswa-siswa sekolah di Indonesia yang mengalami gangguan penglihatan.The Company participated in social activities organized by PT Bussan Auto Finance (BAF). The purpose of this activity was to raise funds to buy 20,000 glasses which will be donated to school students in Indonesia with visual impairments.

5-20 September 2020September 5th-20th, 2020

Literasi Keuangan Financial Literacy

Edukasi Literasi Keuangan dan Persiapan Memasuki Dunia Kerja #NewNormal Webinar Edukasi Literasi Keuangan kepada Binusian (mahasiswa dan alumni Universitas Bina Nusantara) tentang fungsi dan peran Otoritas Jasa Keuangan serta cara mengatur finansial sejak dini. Selain itu, terdapat pembahasan seputar asuransi, seperti pentingnya asuransi bagi anak muda, cara menangani berbagai jenis risiko, jenis produk asuransi, cara penutupan asuransi, dan prosedur klaim asuransi.Financial Education Literacy and Preparation for Entering the Working World #NewNormal Webinar on Financial Literacy Education to Binusians (students and alumni of Bina Nusantara University) about the functions and roles of the Financial Services Authority and how to manage finances from an early age. In addition, there was a discussion about insurance, such as the importance of insurance for young people, how to handle various types of risk, types of insurance products, how to cover insurance, and procedures for insurance claims.


Edukasi Literasi Keuangan Financial PlannerWebinar edukasi literasi keuangan ini bertujuan untuk mengedukasi peserta mengenai pentingnya perencanaan keuangan secara baik dan benar, serta terhindar dari aktivitas investasi dari instrumen keuangan yang tidak jelas. Melalui webinar ini pula, Tjondrolukito selaku pembicara, menyampaikan materi tentang Dana Pensiun Lembaga Jasa Keuangan (DPLK), sebuah instrumen keuangan untuk persiapan pensiun dan investasi.Financial Literacy Education: Financial PlannerWebinar on financial literacy education was aim to educate participants about the importance of good and accurate financial planning, and avoid investing activities in unclear financial instruments. Through this webinar, Tjondrolukito, as the speaker, delivered material on Financial Institution Pension Fund (DPLK), a financial instrument for pension and investment preparation.


Edukasi Literasi Keuangan: Property, Future, and Us (Millennial)Edukasi Literasi Keuangan dengan pembicara Alwi Sjaaf dengan topik pembahasan mengenai pentingnya berinvestasi properti serta tips memilih properti yang tepat. Selain itu, para peserta juga diajarkan cara mengalokasikan pendapatan bulanan yang dimiliki agar tetap bisa memiliki properti. Financial Literacy Education: Property, Future, and Us (Millennial)Financial Literacy Education with Alwi Sjaaf as the speaker was conducted with a discussion topic on the importance of investing in property and tips on choosing the right property. In addition, the participants were also taught how to allocate their monthly income so that they can still own property.

23 Oktober 2020October 23rd, 2020



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The Company strives to prioritize customer satisfaction by providing the best products and services. The Company not only offers safe and useful insurance products, but also provides maximum protection to its customers.


The implementation of the customer-related responsibility initiative is described as follows.1. Customer Health and Safety The Company is committed to always fulfilling its

responsibilities through service and protection to all customers which refers to the Financial Services Authority Regulation No. 1/POJK.07/2013 concerning Consumer Protection in the Financial Services Sector. This commitment is realized by the establishment of the Quality Assurance Department which is responsible for ensuring that business processes are in accordance with the established procedures.

2. Product and Service Information Information related to the Company’s products and

services can be found in the Products and Services section of this Annual Report, in the official website (www.lippoinsurance.com), as well as various social media and other platforms owned by the Company as follows.

Dampak

Pelaksanaan program CSR terkait pengembangan sosial dan kemasyarakatan memberikan dampak positif bagi Perseroan, yaitu:1. Turut berpartisipasi aktif dalam meningkatkan

kesejahteraan masyarakat; 2. Terjalinnya hubungan yang harmonis dengan masyarakat;

dan 3. Terbentuknya kepercayaan masyarakat terhadap

Perseroan.

Tanggung Jawab terkait PelangganResponsibility to the Customer

Perseroan berupaya untuk mengutamakan kepuasan pelanggan/nasabah dengan memberikan produk dan layanan terbaik. Perseroan tidak hanya menawarkan produk asuransi yang aman dan bermanfaat, tapi juga memberikan perlindungan yang maksimal kepada para nasabah.


Pelaksanaan inisiatif tanggung jawab terkait nasabah diuraikan sebagai berikut.1. Kesehatan dan Keselamatan Nasabah Perseroan berkomitmen untuk senantiasa memenuhi

tanggung jawabnya melalui pelayanan dan perlindungan kepada seluruh nasabah yang mengacu pada Peraturan Otoritas Jasa Keuangan No. 1/POJK.07/2013 tentang Perlindungan Konsumen Sektor Jasa Keuangan. Komitmen tersebut diwujudkan dengan dibentuknya Departemen Quality Assurance yang bertanggung jawab untuk memastikan proses bisnis telah disesuaikan dengan tata cara/prosedur yang telah ditetapkan.

2. Informasi Produk dan Layanan Informasi terkait produk dan layanan Perseroan dapat

dilihat pada bagian Produk dan Layanan di Laporan Tahunan ini, situs web (www.lippoinsurance.com), serta berbagai media sosial dan platform lain yang dimiliki Perseroan sebagai berikut.

MyProtection.id

LippoInsurance LippoInsurance @lippoinsurance (LippoInsurance) https://www.myprotection.id/id/about-us#FFFFFF

#FCE62E

#58595B

#EC1E24

a b c d e f g h i j k l m n o p q r s t u v w x y zB O L D

T H I NA BABCDEFGHIJKLMNOPQRSTUVWXYZ

a b c d e f g h i j k l m n o p q r s t u v w x y zABCDEFGHIJKLMNOPQRSTUVWXYZ

COLOR

TYPOGRAPHY

Impact

The implementation of CSR programs related to social affairs and community development has a positive impact on the Company, i.e:1. Active participation in improving the welfare of the

community;2. The establishment of a harmonious relationship with the

community; and3. Establishment of public trust in the Company.


In addition, the Company continues to make innovations related to its services and insurance claim protection in protecting the interests of policy owners, the Insured and/or other beneficiaries, through:a. Digital Based Customer Service

a) 24-hours Contact Center equipped with online chat facility;

b) myprotection.id online platform that can be easily accessed by the Insured and prospective customers. The insurance products offered are related to health insurance, car insurance, residential insurance, travel insurance, and personal accident insurance;

c) Safe and easy premium payment with a digital payment facility in addition to a virtual account; and

d) Digital platforms provided by the Company, i.e.:

b. Health Talk Program for Health Insurance Customers The Health Talk Program is a partnership program

between LippoInsurance and partner hospitals dedicated to health insurance service customers. The Health Tall program discussed health problem occurred within the communities throughout 2020. The Company has organized 45 Health Talk programs, with a total cost of Rp35,070,000.

Selain itu, Perseroan senantiasa melakukan inovasi terkait pelayanan dan perlindungan klaim asuransi dalam melindungi kepentingan pemegang polis, tertanggung dan/atau penerima manfaat lainnya, melalui:a. Layanan Nasabah Berbasis Digital

a) Contact Center 24 jam yang telah dilengkapi dengan fasilitas online chatting;

b) Platform online myprotection.id yang dapat diakses dengan mudah oleh tertanggung maupun calon nasabah. Produk asuransi yang ditawarkan terkait asuransi kesehatan, asuransi mobil, asuransi tempat tinggal, asuransi perjalanan, dan asuransi kecelakaan diri;

c) Pembayaran premi yang aman dan mudah dengan digital payment facility selain virtual account; serta

d) Platform digital yang disediakan Perseroan, yaitu:

https://ebenefit.id/healthhttps://ebenefit.id

https://meditap.id

eBenefit Health App

Aplikasi yang memudahkan nasabah untuk berobat secara cashless dan cardless, mengajukan klaim secara praktis dengan e-Claim, dapat memeriksa riwayat, status klaim, berkomunikasi 24 jam dengan Livia (LippoInsurance Virtual Assistant) dan Livechat, untuk mengetahui daftar rumah sakit rekanan terdekat, serta melihat manfaat dan limit asuransi. Buku panduan dan video sosialisasi juga tersedia untuk memberikan edukasi manfaat dan prosedur asuransi, serta informasi promo dan artikel kesehatan.An application that facilitates the customers to get a cashless and cardless treatment, submit a claim practically with e-Claim, check history, check status claims, communication 24 hours with Livia (LippoInsurance Virtual Assistant) and Livechat, to obtain a list of closest associate hospitals, as well as checking the insurance benefits and limits. Guidebook and dissemination video are also available to provide education on insurance benefits and procedures, as well as promotion information and health articles.

eBenefit.id

Layanan situs web yang diperuntukan bagi para perusahaan pialang asuransi (broker)/konsultan, HRD, dan rumah sakit rekanan Perseroan. Layanan ini berisi berbagai fitur yang dapat digunakan nasabah untuk membantu mendapatkan informasi terkait pelayanan asuransi kesehatan.Website service intended for insurance brokerage companies (brokers)/consultants, HRD, and partner hospitals. This service contains various features that customers can use to help obtain information related to health insurance services.

iMeditap

Layanan asuransi yang bersifat cashless dengan menggunakan QR scan atau e-Card pada provider rekanan. Untuk keamanan transaksi nasabah menerima SMS dan email sesaat setelah pendaftaran dan selesainya layanan kesehatan di rumah sakit.Cashless insurance service by using a QR scan or e-Card on partner providers. For the safety of transactions, the customer shall receive an SMS and email shortly after registration and the completion of health services in the hospital.

b. Program Health Talk untuk Nasabah Asuransi Kesehatan Program Health Talk merupakan program kerja sama antara LippoInsurance dengan rumah sakit rekanan yang diperuntukkan bagi nasabah jasa asuransi kesehatan. Program Health Talk tersebut membahas mengenai masalah kesehatan yang terjadi pada masyarakat di sepanjang tahun 2020. Perseroan telah menyelenggarakan program Health Talk sebanyak 45 kali, dengan total biaya yang dikeluarkan sebesar Rp35.070.000,-.



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Selain program Health Talk, Perseroan menyelenggarakan program Wellness, yaitu pemberian vaksin flu dan mini Medical Check-Up (MCU) yang diperuntukkan kepada nasabah asuransi kesehatan. Biaya yang dikeluarkan untuk program ini sebesar Rp16.575.000.

Beberapa Program Health Talk yang diselenggarakan Perseroan di tahun 2020.

28 Agustus 2020August 28th, 2020

Webinar Health Talk “Ayo Hidup Sehat”Health Talk Webinar on “Let’s Live Healthy”

Webinar ini membahas mengenai cara hidup sehat di masa pandemi agar imunitas lebih kuat dan tahan terhadap berbagai serangan penyakit. Pembicara dalam webinar ini adalah dr. Sandra Sinthya Langow, Sp.PD-KR dari Rumah Sakit Siloam Hospitals Lippo Village. This webinar discussed a healthy way of life during the pandemic so our immune system shall be stronger and resistant to various diseases. The speaker in this webinar was dr. Sandra Sinthya Langow, Sp.PD-KR from Siloam Hospitals Lippo Village.

5 November 2020November 5th, 2020

Webinar Health Talk “Sehat dan Bugar (SEGAR) – Tetap Sehat dan Bugar di Era New NormalHealth Talk Webinar on “Healthy and Fit (FRESH) - Stay Healthy and Fit in the New Normal Era

Webinar ini membahas mengenai cara tetap sehat dan bugar selama pandemi, salah satunya dengan berolahraga. Pembicara webinar ini adalah seorang Sport Medicine Specialist, dr. Taufan Favian Reyhan, Sp.KO dari Rumah Sakit Premier Bintaro, Tangerang.This webinar discussed ways to stay healthy and fit during the pandemic, one of which is byexercising. The speaker of this webinar was a Sport Medicine Specialist, dr. Taufan Favian Reyhan,Sp.KO from Premier Bintaro Hospital, Tangerang.

c. Kemudahan Proses dan Penyelesaian Klaim1) Pengajuan klaim kendaraan bermotor lebih mudah

dan cepat dilakukan di service center melalui staf Perseroan pada bengkel rekanan terpilih, serta dapat mengajukan klaim melalui platform www.myprotection.id;

2) Setiap proses klaim mengacu pada Turn Around Time (TAT) di mana proses klaim menjadi lebih teratur dan jangka waktunya dapat dimonitor, sehingga tingkat kepuasan nasabah dapat terukur dengan baik. Mekanisme tersebut juga dilengkapi dengan Indeks Kepuasan Pelanggan (IKP) yang berguna untuk mengukur kinerja pelayanan terhadap kepuasan tertanggung;

3) Memberikan kenyamanan bagi nasabah melalui layanan Personal Medical Assistant (PMA) yang ditempatkan di 15 rumah sakit besar pilihan, untuk membantu administrasi setiap peserta yang akan melakukan pengobatan/perawatan di rumah sakit tersebut, di mana selama masa pandemi aktivitas tersebut dilakukan dengan pemantauan;

In addition to the Health Talk program, the Company organized a Wellness program. It is a provision of flu vaccines and mini medical check-ups (MCU) for health insurance customers. Costs incurred for these programs were amounted to Rp16,575,000.

Some Health Talk Programs organized by the Company in 2020.

c. Easy Claim Process and Settlement1) Easier and quicker auto vehicle claim submission

at the Service Centers through Company Staff at selected Partner Workshops, and the participant can submit online claims through the platform www.myprotection.id;

2) Each claim process refers to a Turn Around Time (TAT) where the claim process becomes more organized with measured duration, therefore enabling the level of customer satisfaction can be measured properly. This mechanism is also equipped with a Customer Satisfaction Index (IKP) which is used to measure service performance towards the satisfaction of the insured;

3) Providing comfort for customers through Personal Medical Assistants (PMA) service placed at 15 major hospitals, to assist the administration of each participant who seek medication/treatment at the hospital, where during the pandemic period these activities are carried out by a means of monitoring;


4) Fasilitas E-Medical Service Assistant (MSA) ditempatkan di beberapa perusahaan tertanggung untuk menerima dokumen klaim peserta asuransi kesehatan dan menerima dokumen klaim peserta;

5) Pemantauan penyelesaian klaim secara real time, melalui: a) Aplikasi untuk mempercepat proses

penyelesaian klaim;b) Notifikasi penjaminan asuransi kesehatan

melalui SMS untuk menginformasikan status penjaminan awal dan penjaminan akhir kepada peserta/keluarga peserta untuk mengetahui status penjaminan atas perawatan yang akan dilakukan, pengingat klaim pending yang memberikan peringatan mengenai klaim yang diajukan peserta masih membutuhkan data/dokumen tambahan sehingga peserta terhindar dari penolakan klaim karena sudah kedaluwarsa;

c) Proses express claim di mana klaim dengan jumlah tertentu sampai dengan Rp500.000,- dan diterima sampai dengan pukul 12.00 WIB akan dibayarkan pada hari yang sama;

6) Perseroan menawarkan layanan berbasis digital terkait pelayanan kepada tertanggung asuransi kesehatan, yaitu dengan menggunakan sistem WEB yang sudah disosialisasikan pada 1.000 lebih provider, sehingga transaksi pelayanan kesehatan bagi peserta/tertanggung dapat dilakukan secara cardless dan cashless melalui smartphone; serta

7) Perseroan juga menyediakan fasilitas telekonsultasi dokter bagi nasabah dengan kartu berlogo iMeditap bekerja sama dengan Good Doctor pada aplikasi Grab Health. Biaya konsultasi dan obat dapat dibayarkan secara non-tunai (cashless) dengan memotong limit rawat jalan.

3. Survei Kepuasan Nasabah Perseroan melakukan pengukuran indeks kepuasan nasabah

dalam rangka mengevaluasi kualitas produk dan layanan. Terdapat 3 indikator yang digunakan dalam pengukuran, yaitu:a. Kepuasan nasabah dengan pelayanan contact center,

di mana pada tahun 2020 indeks kepuasan nasabah mencapai 67% untuk kategori puas dan 27% untuk kategori sangat puas;

b. Pelayanan penerbitan polis asuransi kesehatan Medicare, di mana pada tahun 2020 indeks kepuasan nasabah mencapai 80% untuk kategori baik dan 20% untuk kategori sangat baik; dan

c. Kecepatan pembayaran klaim asuransi kesehatan Medicare, di mana pada tahun 2020 kepuasan nasabah sebesar 58% untuk kategori baik dan 31% untuk kategori sangat baik.

4) Placement of E-Medical Service Assistant (MSA) facility at several insured companies to receive health insurance participants claim documents and receive participant claim documents;

5) Real-time claim settlement monitoring, through:

a) Application to speed up the claim settlement process;

b) Health insurance guarantee notification via SMS to inform the status of initial and final guarantee to the participant/families of participant to find out the status of the insurance for the treatment that will be carried out, pending claim reminder that gives a warning regarding claims submitted by participants still needing additional data/documents so that participants avoid claim rejection due to expiration;

c) Express Claim process where claims with a certain amount up to Rp500,000 and received by 12.00 WIB will be paid on the same day;

6) The Company offers digital-based services in Services to Insured Health Insurance, using a WEB system that has been disseminated at over 1,000 Providers, enabling participants/insured to conduct health services transactions in a Cardless and Cashless manner by simply using their smartphone; and

7) The Company also provides doctor tele-consultation facility for customers with iMeditap logo card that has a partnership with Good Doctor on the Grab Health app. Consultation fee and medicine are done cashless by taking into account the outpatient limit.

3. The Customer Satisfaction Survey The Company measures the customer satisfaction index to

evaluate product and service quality. There are 3 indicators used in the measurements, i.e.:a. Customer satisfaction with the contact center service,

where in 2020 the customer satisfaction index reached 67% for “satisfied” category and 27% for “very satisfied” category;

b. Medicare health insurance policy issuance service, where in 2020 the customer satisfaction index reached 80% for “good” category and 20% for “very good” category; and

c. The speed of Medicare health insurance claim payment, where in 2020 the customer satisfaction reached 58% for “good” category and 31% for “very good” category.



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Sementara itu, indeks kepuasan klaim General Non-MV dan klaim General MV diungkapkan dalam tabel berikut.

IndikatorIndicator

Sangat PuasVery Satisfied

PuasSatisfied

Tidak PuasUnsatisfied

Sangat Tidak PuasVery

Unsatisfied

Jumlah Koresponden

Total Respondent

Kepuasan Pelayanan Claim MV (Non-Service Center)Satisfaction in MV Claim Service (Non-Service Center) 34,75% 65,14% 0,11% 0,00% 1.790

Kepuasan Pelayanan Claim MV (Service Center)Satisfaction in MV Claim Service (Service Center) 17,78% 81,94% 0,21% 0,07% 1.451

Kepuasan Pelayanan Claim Non MV 1Satisfaction in Non-MV Claim Service 1 17,65% 80,67% 1,68% 0,00% 119

Kepuasan Pelayanan Claim Non MV 2Satisfaction in Non-MV Claim Service 2 37,33% 61,33% 1,33% 0,00% 150

Perseroan juga melakukan survei pelayanan provider. Terdapat 374 provider yang mengisi survei, dan menilai hubungan kerja sama yang terjalin sangat baik. Sementara itu, penilaian untuk aplikasi eBenefit terdapat 307 survei, di mana 287 survei menilai pembayaran berjalan sangat cepat, dan 20 survei menilai cepat. Selain itu, terdapat terdapat 404 survei terkait situs web penjaminan, 366 survei menilai bahwa situs web i-Meditap sangat mudah digunakan dan 38 survei menilai mudah digunakan.

Mekanisme Pengaduan Nasabah

Perseroan menyediakan saluran pengaduan nasabah melalui telepon atau email sebagai berikut.1. Layanan email 24 jam untuk nasabah atau peserta/hrd/

broker/calon peserta ke [email protected];

2. Help line 24 jam melalui nomor telepon 1500563, dengan pilihan:a. Menu 1: Layanan Asuransi Kesehatan;b. Menu 2: Layanan Asuransi Umum; danc. Menu 3: Layanan Rumah Sakit Rekanan (Penjaminan).

Selain itu, Perseroan berkomitmen untuk mengutamakan pelayanan terbaik kepada para nasabah, termasuk dalam proses penyelesaian pengaduan yang akan diselesaikan dengan baik dan profesional, melalui mekanisme berikut.1. Perseroan memiliki standar dalam merespon pengaduan

nasabah 1x24 jam;2. Pengaduan masuk melalui: contact center : (021) 1500563 email customer care : [email protected] website : www.lippoinsurance.com3. Bagian Customer Experience akan memberikan jawaban

sebagai respon terhadap keluhan kepada nasabah bahwa keluhan telah diterima dan akan segera diproses oleh unit bersangkutan;

Meanwhile, the General Non-MV and General MV claims satisfaction index are described in the following table.

The Company also conducts a survey on the service providers. There are 374 providers who filled out the survey and assessed that the partnership relationship established was very good. Meanwhile, the assessment for eBenefit application has been filled by 307 participants, of which 287 participants rated payments as being very fast, and 20 participants rated them as fast. In addition, there were 404 participants filled survey related to guarantee websites, 366 participants rated the i-Meditap easy to use and 38 participantes rated it as easy to use.

Customer Complaint Mechanism

The Company provides channel for customer’s complaints via telephone or email as follows.1. 24-hour email service for customers or participants/

hrd/broker/prospective participant to [email protected];

2. 24-hour Help Line via telephone number 1500563, with options:a. Menu 1: Health Insurance Services;b. Menu 2: General Insurance Services; andc. Menu 3: Hospital Partner Services (Guarantee).

In addition, the Company is committed to prioritizing the best service to the customers, including providing a complaints resolution process that conducted properly and professionally, through the following mechanisms.1. The Company has a standard in responding to customer

complaints over 1x24 hours;2. Complaints are submitted via: contact center : (021) 1500563 email customer care : [email protected] website : www.lippoinsurance.com3. Customer Experience Section will send an answer to the

customer in response to any customer complaints that stated the complaint has been received and will be processed immediately by the related unit;


4. Bagian Customer Experience menyampaikan pengaduan keluhan dari nasabah kepada unit terkait; serta

5. Selanjutnya keluhan nasabah diproses dan diselesaikan oleh unit terkait. Unit tersebut dapat langsung berkomunikasi kepada nasabah dalam menyelesaikan keluhan yang disampaikan.

Sepanjang tahun 2020, tidak ada pengaduan nasabah yang diterima Perseroan.

Dampak

Pelaksanaan program CSR terkait nasabah memberikan dampak positif bagi Perseroan, yaitu mempertahankan nama baik Perseroan, menjaga hubungan baik, serta meningkatkan loyalitas nasabah.

Sertifikasi dan Penghargaan

Komitmen Perseroan dalam memberikan pelayanan optimal terhadap nasabah dibuktikan dengan berhasil dipertahankannya sertifikat ISO 9001:2015 tentang Sistem Manajemen Mutu Penyelenggaraan Pelayanan Asuransi Non-Kesehatan dari United Registrar of Systems dan ISO 9001:2015 tentang Sistem Manajemen Mutu terkait Penyelenggaraan Pelayanan Asuransi Kesehatan.

Tanggung Jawab terkait Lingkungan HidupResponsibility related to the Environment

Perseroan melakukan pengelolaan terhadap lingkungan hidup sebagai salah satu upaya untuk mengurangi dampak negatif yang ditimbulkan dari aktivitas operasional. Pengelolaan tersebut dimulai dari lingkungan internal dan dilanjutkan pada lingkungan eksternal secara bertahap dan berkelanjutan.


Pelaksanaan inisiatif tanggung jawab terkait lingkungan hidup diuraikan sebagai berikut.1. Penggunaan Material dan Energi Ramah Lingkungan Perseroan telah menerapkan kebijakan kantor ramah

lingkungan secara aktif di kantor pusat dan kantor cabang/pemasaran. Kebijakan tersebut dilakukan melalui kegiatan:

4. Customer Experience Section forwards complaints from the customers to related units; and

5. Next, customer complaints are processed and resolved by related unit. This unit can directly communicate to the customers in the process of complaints settlement.

In 2020, no customer complaints were received by the Company.

Impact

The implementation of CSR programs to the customers has a positive impact on the Company, namely maintaining the Company’s good name, maintaining good relationships, and increasing customer loyalty.

Certifications and Awards

The Company’s commitment to provide optimal service to the customers is proven by successfully maintaning ISO 9001:2015 certification on Quality Management Systems related to Non-Health Service Delivery from the United Registrar of Systems and ISO 9001:2015 on Quality Management Systems related to Health Service Delivery.

The Company manages the environment as an effort to reduce negative impacts arising from its operational activities. This management starts from the internal environment and continues to the external environment in a gradual and sustainable manner.


The implementation of responsibility initiatives to the environment is described as follows.1. Use of Environmentally Friendly Materials and Energy The Company has actively implemented an environmentally

friendly office policy at the head office and branch/marketing offices. The policy is carried out through the following activities:



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a. Menghemat penggunaan kertas dengan mengoptimalkan penggunaan email, penggunaan pelayanan berbasis digital, berupa e-Policy, yaitu menyampaikan polis dalam bentuk softcopy kepada nasabah dan akan memberikan biaya administrasi lebih mahal untuk polis bentuk fisik, dengan harapan nasabah akan lebih memilih menggunakan e-Policy;

b. Menghemat energi dengan menggunakan lampu berjenis LED, serta mematikan AC, komputer, atau alat elektronik lainnya selama tidak digunakan; serta

c. Menghemat penggunaan air, seperti menyediakan kran air sistem sensor otomatis, sehingga penggunaan air dimaksimalkan seperlunya saja.

2. Sistem Pengelolaan Limbah Adapun sistem pengelolaan limbah yang dilakukan oleh

Perseroan, yaitu:a. Melakukan program pengelolaan sampah terdiri dari

reduce, reuse, dan recycle (3R);b. Mengurangi limbah yang dihasilkan dari aktivitas

operasional dengan disiplin penggunaan kantong dan botol plastik; serta

c. Menyediakan air galon pada masing-masing ruang kerja, serta menghimbau karyawan untuk menggunakan botol minum/tumbler.

Mekanisme Pengaduan Masalah

Pengaduan masalah terkait lingkungan hidup dapat disampaikan kepada Departemen General Service. Setiap pengaduan yang masuk akan diproses dan ditindaklanjuti dengan baik dan profesional. Sepanjang tahun 2020, Perseroan tidak menerima pengaduan masalah terkait lingkungan hidup.

Dampak

Pelaksanaan program CSR terkait lingkungan hidup memberikan dampak positif, yaitu terciptanya lingkungan kerja yang nyaman dan bersih melalui penggunaan material dan energi ramah lingkungan di dalam Perseroan.

Sertifikasi dan Penghargaan Perseroan belum terlibat dalam inisiatif eksternal ataupun penilaian lainnya pada program CSR terkait lingkungan hidup.

a. Saving paper usage by optimizing the use of email, using digital-based services, such as e-Policy, i.e. sending policy in softcopy to the customers and will impose larger administration fee for physical policy that will prompt the customer to choose e-Policy instead;

b. Saving energy by using LED lamps, as well as turning off Air Conditioners, computers, or other electronic devices when not in use; and

c. Saving water usage, by providing an automatic water faucet sensor system, so water shall be used only as needed.

2. Waste Management System The waste management system implemented by the

Company, i.e.:a. Implementing a waste management program

consisting of reduce, reuse, and recycle (3R);b. Reducing waste generated from operational activities

by disciplining the use of plastic bags and plastic bottles; and

c. Providing gallon water in every workspace, and encourage employees to use drinking bottles or tumblers.

Complaints Mechanism

Complaints regarding environmental problems can be submitted to the General Service Divisions or Departments. Every incoming complaint will be processed and followed up properly and professionally. In 2020, the Company did not receive any complaints about environmental issues.

Impact

The implementation of CSR programs related to the environment has a positive impact, i.e. the creation of a comfortable and clean working environment through the use of environmentally friendly materials and energy in the Company.

Certifications and AwardsThe Company has not been involved in external initiatives or other assessments of CSR programs related to the environment.


Biaya Tanggung Jawab Sosial Tahun 2020Corporate Social Responsibility Expenses in 2020

Informasi terkait anggaran dan realisasi biaya tanggung jawab sosial Perseroan diungkapkan sebagai berikut.

KegiatanActivities

Anggaran Budget

Sumbangan CSRCSR Donation 10.400.000

Biaya Beasiswa Pendidikan Scholarship Cost 67.020.000

Health Talk Health Talk 35.070.000

Wellness Program Wellness Program 16.575.000

Edukasi Literasi dan Inklusi Keuangan Financial Literacy and Inclusion Education 5.515.000

Biaya Protokol Kesehatan Health Protocol Cost

Rapid & Swab TestRapid & Swab Test 89.149.500

Vaksin InfluenzaInfluenza Vaccine 74.251.680

VitaminVitamins 88.209.220

Bantuan Telekomunikasi untuk Karyawaan saat Work from Home (WFH)Telecommunication Cost Allowance for Employees Work from Home 51.450.000

Jasa Penyemprotan DisinfektanDisinfectant Spraying Services 55.921.557

DisinfektanDisinfectant 15.583.200

Masker Medis, Masker, Non-Medis, dan Face ShieldMedical Masks, Non-Medical Masks, and Face Shields 25.566.360

Sabun Cuci Tangan (termasuk pengadaan botolnya)Hand Soap (including the procurement of the bottle) 10.013.214

Wastafel Portable dan perlengkapannyaPortable washbasin and fittings 2.136.400

TermometerThermometer 11.328.300

Ozon Box, UV Box Sterilisasi, dan MicrowaveOzone Box, Sterilization UV Box, and Microwave 9.139.000

Kran SensorAutomatic Faucet 60.868.500

Biaya Lain-lainnyaOther Costs 148.177.948

Total 776.374.879

Information related to the corporate social responsibility budget and realization is disclosed as follows.

(dalam Rupiah / in Rupiah)

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dan Entitas Anak/and its Subsidiaries

Laporan keuangan konsolidasian tanggal 31 Desember 2020

dan untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/

Consolidated financial statements

as of December 31, 2020 and for the year then ended

with independent auditors’ report

Surat Pernyataan Direksi Directors' Statements Letter

Laporan Auditor Independen Independent Auditor's Report

Laporan Keuangan Konsolidasian Consolidated Financial Statements

Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position

Laporan Laba Rugi dan Penghasilan Consolidated Statements of Profit or Loss

Komprehensif Lain Konsolidasian and Other Comprehensive Income

Laporan Perubahan Ekuitas Konsolidasian Consolidated Statements of Changes in Equity

Laporan Arus Kas Konsolidasian Consolidated Statements of Cash Flows

Catatan atas Laporan Keuangan Konsolidasian Notes to Consolidated Financial Statements

Lampiran I Attachment ILaporan Posisi Keuangan Entitas Induk Statements of Financial Position Parent Entity

Lampiran II Attachment IILaporan Laba Rugi dan Penghasilan Statements of Profit or Loss and

Komprehensif Lain Entitas Induk Other Comprehensive Income Parent Entity

Lampiran III Attachment IIILaporan Perubahan Ekuitas Entitas Induk Statements of Changes in Equity Parent Entity

Lampiran IV Attachment IVLaporan Arus Kas Entitas Induk Statements of Cash Flows Parent Entity

Halaman/ Page

1 - 2

3 - 4

5

6

7 - 107

DAFTAR ISICONTENTS

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan Registered Public Accountants Decree of the Finance Minister of the Republic of Indonesia No. 855/KM.1/2017

Tel: 021 – 3000 7879 • Fax: 021 3000 7898 • Email: [email protected] • www.pkf.co.id Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan • UOB Plaza 30th & 42nd Floor • Jl. MH Thamrin Lot 8-10 Central Jakarta 10230 • Indonesia

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan is a member firm of the PKF International Limited family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms.

No : 00414/2.1133/AU.1/08/0305-2/1/III/2021 Laporan Auditor Independen Independent Auditors’ Report Pemegang Saham, Komisaris dan Direksi The Shareholders’, Commissioner and Director PT Lippo General Insurance Tbk PT Lippo General Insurance Tbk Kami telah mengaudit laporan keuangan konsolidasian PT Lippo General Insurance Tbk dan entitas anaknya terlampir, yang terdiri dari laporan posisi keuangan konsolidasian tanggal 31 Desember 2020, serta laporan laba rugi dan penghasilan komprehensif lain, laporan perubahan ekuitas dan laporan arus kas konsolidasian untuk tahun yang berakhir pada tanggal tersebut, dan suatu ikhtisar kebijakan akuntansi signifikan dan informasi penjelasan lainnya.

We have audited the accompanying consolidated financial statements of PT Lippo General Insurance Tbk and its subsidiary, which comprise the consolidated statement of financial position as of December 31, 2020, and the consolidated statement of profit or loss and other comprehensive income, changes in equity and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Tanggung jawab manajemen atas laporan keuangan

Management’s responsibility for the financial statements

Manajemen bertanggung jawab atas penyusunan dan penyajian wajar laporan keuangan konsolidasian tersebut sesuai dengan Standar Akuntansi Keuangan di Indonesia, dan atas pengendalian internal yang dianggap perlu oleh manajemen untuk memungkinkan penyusunan laporan keuangan konsolidasian yang bebas dari kesalahan penyajian material, baik yang disebabkan oleh kecurangan maupun kesalahan.

Management is responsible for the preparation and fair presentation of such consolidated financial statements in accordance with Indonesian Financial Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Tanggung jawab auditor Auditors’ responsibility Tanggung jawab kami adalah untuk menyatakan suatu opini atas laporan keuangan konsolidasian tersebut berdasarkan audit kami. Kami melaksanakan audit kami berdasarkan Standar Audit yang ditetapkan oleh Institut Akuntan Publik Indonesia. Standar tersebut mengharuskan kami untuk mematuhi ketentuan etika serta merencanakan dan melaksanakan audit untuk memperoleh keyakinan memadai tentang apakah laporan keuangan konsolidasian bebas dari kesalahan penyajian material.

Our responsibility is to express an opinion on such consolidated financial statements based on our audit. We conducted our audit in accordance with Standards on Auditing established by the Indonesian Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether such consolidated financial statements is free from material misstatement.

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan Registered Public Accountants Decree of the Finance Minister of the Republic of Indonesia No. 855/KM.1/2017 Tanggung jawab auditor (lanjutan) Auditors’ responsibility (continued) Suatu audit melibatkan pelaksanaan prosedur untuk memperoleh bukti audit tentang angka-angka dan pengungkapan dalam laporan keuangan. Prosedur yang dipilih bergantung pada pertimbangan auditor, termasuk penilaian atas risiko kesalahan penyajian material dalam laporan keuangan, baik yang disebabkan oleh kecurangan maupun kesalahan. Dalam melakukan penilaian risiko tersebut, auditor mempertimbangkan pengendalian internal yang relevan dengan penyusunan dan penyajian wajar laporan keuangan entitas untuk merancang prosedur audit yang tepat sesuai dengan kondisinya, tetapi bukan untuk tujuan menyatakan opini atas keefektivitasan pengendalian internal entitas. Suatu audit juga mencakup pengevaluasian atas ketepatan kebijakan akuntansi yang digunakan dan kewajaran estimasi akuntansi yang dibuat oleh manajemen, serta pengevaluasian atas penyajian laporan keuangan secara keseluruhan.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risk of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessment, the auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumtances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

Kami yakin bahwa bukti audit yang telah kami peroleh adalah cukup dan tepat untuk menyediakan suatu basis bagi opini audit kami.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opini Opinion Menurut opini kami, laporan keuangan konsolidasian terlampir menyajikan secara wajar, dalam semua hal yang material, posisi keuangan konsolidasian PT Lippo General Insurance Tbk dan entitas anaknya tanggal 31 Desember 2020, serta kinerja keuangan dan arus kas konsolidasiannya untuk tahun yang berakhir pada tanggal tersebut, sesuai dengan Standar Akuntansi Keuangan di Indonesia.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of PT Lippo General Insurance Tbk and its subsidiary as of December 31, 2020, and its consolidated financial performance and cash flows for the year then ended, in accordance with Indonesian Financial Accounting Standards.

Paul Hadiwinata, Hidajat, Arsono, Retno, Palilingan & Rekan

Santoso Chandra, S.E., M.M., Ak., CPA, CA Registrasi Akuntan Publik/ Public Accountant Registration No. AP.0305

25 Maret 2021/ March 25, 2021

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENTS OFKONSOLIDASIAN FINANCIAL POSITIONTanggal 31 Desember 2020 dan 2019 As of December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

ASET ASSETS

Kas dan bank Cash and bankPihak ketiga Third partiesPihak berelasi Related parties

Piutang premi Premium receivablesPihak ketiga Third partiesPihak berelasi Related parties

Piutang reasuransi Reinsurance receivablesPihak ketiga Third partiesPihak berelasi Related parties

Piutang lain-lain - bersih Other receivables - net

Investasi InvestmentsDeposito berjangka Time deposits

Pihak ketiga Third partiesPihak berelasi Related parties

Efek Marketable securitiesPihak ketiga Third partiesPihak berelasi Related parties

Penyertaan saham Direct investmentsProperti investasi Investment properties

Jumlah investasi Total investments

Biaya dibayar di muka dan uang muka Prepaid expenses and advancesAset reasuransi Reinsurance assetsAset-hak-guna - bersih Right-of-use assets - netAset tetap - setelah dikurangi Fixed assets-net

akumulasi penyusutan tahun of accumulated depreciation 2020 dan 2019 masing-masing of Rp 54,529,490,660 andsebesar Rp 54.529.490.660 dan Rp 47,844,560,367Rp 47.844.560.367 for 2020 and 2019, respectively

Aset tak berwujud - setelah dikurangi Intangible assets - netakumulasi amortisasi tahun of accumulated amortization2020 dan 2019 masing-masing of Rp 10,211,307,230 andsebesar Rp 10.211.307.230 dan Rp 8,149,895,225Rp 8.149.895.225 for 2020 and 2019, respectively

Aset imbalan pasti neto Net defined benefit assetAset pajak tangguhan Deferred tax assetsAset lain-lain Other assets

JUMLAH ASET TOTAL ASSETS

*) Direklasifikasi, lihat catatan 42 Reclassified, see note 42 *)

The accompanying notes to consolidated financial statementsare an integral part of these consolidated financial statements

3.880.122.619 -

Catatan/

4.093.565.476 2o, 2u, 6, 37 3.281.989.421

30.797.795.466 35.785.130.295

17.515.063.757

2d, 2u, 8, 37 10.730.707.000

6.061.775.311 2i, 13 7.091.478.136

3.839.238.454 2d, 2u, 4, 37 4.370.977.518

24.104.264.372

3.099.603.876 2f, 9 15.425.531.782

24.597.554.524 2d, 7 15.088.812.307

542.813.801.659 2d, 8 458.282.743.371 413.966.730.379 455.414.966.116

267.163.804.617 2d, 8 152.532.702.417

448.922.767.297 333.260.381.217

113.268.178.064 2k, 2u, 5, 37 107.872.079.145

2o, 6 32.503.140.874

2o, 10 742.227.875.663

225.388.302.072

4.410.501.000

1.339.253.561.392 1.185.399.911.397

1.165.505.611 2d, 8 1.165.505.611 109.733.218.126 2e, 8 107.273.286.882

26.704.229.990

1.850.235.395

2020 2019*)Notes

20.265.025.918 2d, 4 13.144.086.239

335.654.589.233 2k, 5

2d, 2u, 8, 37

1.794.292.943 14

863.572.391.437

2.815.578.393.095 2.425.843.273.596

4.763.566.712 2s, 35 12.267.741.949 2t, 20

3.519.531.026 2g, 11 -

61.211.166.120 2h, 12 59.931.111.698

Catatan atas laporan keuangan konsolidasian merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian

1

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENTS OFKONSOLIDASIAN (Lanjutan) FINANCIAL POSITION (Continued)Tanggal 31 Desember 2020 dan 2019 As of December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

Utang klaim Claim payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang reasuransi Reinsurance payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang komisi Commission payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang pajak Taxes payableUang muka premi jangka panjang Deferred premium incomeLiabilitas kontrak asuransi Insurance contract liabilitiesLiabilitas sewa Lease liabilitiesLiabilitas imbalan kerja Employee benefits liabilities

Liabilitas imbalan kerja Short term employeejangka pendek benefits liabilities

Liabilitas imbalan Post employmentpasca kerja benefits liabilities

Utang lain-lain Other payables

JUMLAH LIABILITAS TOTAL LIABILITIES

EKUITAS EQUITY

Modal saham Share capitaldengan nilai nominal Rp 500 with par value of Rp 500 per shareper saham Authorized capital -Modal dasar - 350.000.000 saham 350,000,000 sharesModal ditempatkan dan Issued and fully paid -disetor penuh - 150.000.000 saham 150,000,000 shares

Tambahan modal disetor Additional paid in capitalCadangan perubahan nilai Reserves for changes of fair

wajar aset keuangan tersedia value of available-for-saleuntuk dijual - setelah pajak financial assets - net tax

Saldo laba Retained earningsCadangan umum General reservesBelum ditentukan penggunaannya Unappropriated

JUMLAH EKUITAS TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS TOTAL LIABILITIES AND EQUITY



10.000.000.000

9.966.806.317

4.436.584.844 5.837.994.416

2t, 20

17.485.000.000

1.642.310.781

2.815.578.393.095 2.425.843.273.596


861.079.475.415 848.511.733.189

718.110.307.484 24 656.600.634.891 19.000.000.000 24 18.000.000.000

(53.755.765.474) (3.813.835.107) 2d, 2u, 8, 37

102.724.933.405 2z, 23 102.724.933.405 75.000.000.000 22 75.000.000.000

1.954.498.917.680 1.577.331.540.407

164.133.703.655 21 51.383.850.519

1.572.910.372.263 2n, 19 1.368.656.817.132

2m, 2u, 17, 37 3.286.917.042

9.748.336.182 2s, 35 8.467.750.904

2.593.373.754 2m, 17 2.551.077.374 1.843.211.090

3.188.193.590 2.881.413.715 2n, 18

160.930.886.067 108.760.958.228

259.251.028 2l, 2u, 15, 37 700.416.900

4.195.970.180 2o, 2u, 16, 37 8.943.150.242 156.734.915.887 2o, 16 99.817.807.986

17.105.872.604 11.069.169.301

2l, 15 10.368.752.401

2g, 113.224.437.569 -

2020 2019*)Notes

Catatan/

16.846.621.576

2

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSSKOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOMEUntuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

PENDAPATAN REVENUESPendapatan underwriting Underwriting revenue

Premi bruto Gross premiumsPihak ketiga Third partiesPihak berelasi Related parties

Premi reasuransi Reinsurance premiumsPihak ketiga Third partiesPihak berelasi Related parties

Perubahan bersih liabilitas premi Net change in premium liabilities

Jumlah pendapatan premi neto Total net premium income

Hasil investasi Investment incomeBeban lain-lain - bersih Other expenses - net

JUMLAH PENDAPATAN TOTAL REVENUES

BEBAN EXPENSESKlaim-bruto Gross claims


Klaim reasuransi Reinsurance claimsPihak ketiga Third partiesPihak berelasi Related parties

Perubahan bersih estimasi Net change in estimatedliabilitas klaim claims liabilities

Jumlah beban klaim neto Total net claim expenses

Beban komisi-bersih Commission expenses – netBeban underwriting lainnya Other underwriting expensesBeban usaha Operating expenses

JUMLAH BEBAN TOTAL EXPENSES

LABA SEBELUM PAJAK PENGHASILAN INCOME BEFORE TAX

Beban pajak Tax expense

LABA TAHUN BERJALAN PROFIT FOR THE YEAR


92.908.485.040 80.002.543.527


1.108.228.300.836 1.079.716.721.795

111.914.336.371 87.774.030.433

(19.005.851.331) 2s, 35 (7.771.486.906)

118.483.345.506 5.326.115.191 206.201.182.748 2r, 33 190.106.898.267

(281.744.535.308) (241.656.627.673)

42.635.699.588 2n, 30 (7.933.178.627)

64.891.464.450 2m, 31 76.083.532.127

(279.528.226.839) 2o, 29 (238.618.776.520) (2.216.308.469) (3.037.851.153)

718.652.308.132 808.200.176.210

2o, 2u, 29, 37

917.861.819.549 2l, 28 970.200.257.246

957.761.143.852 1.057.789.982.510

(467.304.396.373) 2o, 26 (367.556.198.599)

1.220.142.637.207 1.167.490.752.228

39.899.324.303 87.589.725.264

39.658.198.559 2q, 32 83.076.073.880 (675.097.009) 34 (7.014.229.604)

(471.791.156.962) (383.033.686.482)

(40.273.339.769) 2n, 27 14.860.424.927

1.181.159.535.657 1.091.428.907.952

(4.486.760.589) (15.477.487.883)

1.531.971.748.174 2k, 25 1.239.282.034.767

1.693.224.032.388 1.459.602.169.507

2o, 2u, 26, 37

161.252.284.214 220.320.134.740 2k, 2u, 25, 37

2020Catatan/

2019Notes

2l, 2u, 28, 37

3

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS ANDKOMPREHENSIF LAIN KONSOLIDASIAN (Lanjutan) OTHER COMPREHENSIVE INCOME (Continued)Untuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)


PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVELAIN INCOME

Pos yang tidak akan direklasifikasi Items that will not be reclassifiedke laba rugi to profit or loss

Pengukuran kembali liabilitas Remeasurements of postimbalan kerja employment benefit

Beban pajak terkait Related tax income

Pos yang akan direklasifikasi Items that will be reclassifiedke laba rugi to profit or loss

Aset keuangan tersedia untuk dijual Available-for-sale financial assetsBeban pajak terkait Related tax income

Jumlah rugi komprehensif Total other comprehensivelain tahun berjalan loss for the years

JUMLAH LABA KOMPREHENSIF TOTAL COMPREHENSIVE GAINTAHUN BERJALAN FOR THE YEAR

Laba tahun berjalan yang dapat Net incomediatribusikan kepada: attributable to:

Pemilik Entitas Induk Owners of the CompanyKepentingan non pengendali Non-controlling interests

Laba komprehensif yang dapat Comprehensive gaindiatribusikan kepada: attributable to:

Pemilik Entitas Induk Owners of the CompanyKepentingan non pengendali Non-controlling interests

LABA BERSIH PER SAHAM - EARNINGS PER SHARE -dalam Rupiah penuh in full Rupiah


(62.560.304.205)

Catatan atas laporan keuangan konsolidasian merupakan bagian

(48.127.172.602)

44.781.312.438 17.442.239.322

92.908.485.040 80.002.543.527

1.814.757.765 (1.529.136.005)

(49.983.378.605) (61.076.391.322) 41.448.238 2s, 35 45.223.122

(61.031.168.200)

2d, 2u, 8, 37

(49.941.930.367)

92.908.485.040

-

44.781.312.438 17.442.239.322

yang tidak terpisahkan dari laporan keuangan konsolidasian

- -

44.781.312.438 17.442.239.322

619 2v, 36 533

80.002.543.527

2.617.261.014 2t, 20 (2.038.848.007) (802.503.249) 2s, 35 509.712.002

2020Catatan/

2019Notes

-

92.908.485.040 80.002.543.527

4

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN PERUBAHAN EKUITAS CONSOLIDATED STATEMENTS OFKONSOLIDASIAN CHANGES IN EQUITYUntuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

Cadangan perubahan nilai

wajar aset keuangan tersedia Belum

Tambahan untuk dijual/ DitentukanModal Modal Disetor/ Reserves for changes Cadangan Penggunaannya/

Saham/ Additional of fair value of Umum/ UnappropriatedCatatan/ Share Paid - in available-for-sale General Retained Jumlah/Notes Capital Capital financial assets Reserves Earnings Total

Saldo per 31 Desember 2018 75.000.000.000 102.724.933.405 57.217.333.093 17.000.000.000 627.877.227.369 879.819.493.867 Balance as of December 31, 2018

Available-for-sale financial2d, 8 - - (61.076.391.322) - - (61.076.391.322) assets

Efek pajak terkait 2s, 35 - - 45.223.122 - - 45.223.122 Related tax effectPenilaian kembali imbalan kerja 2t, 20 - - - - (2.038.848.007) (2.038.848.007) Remeasurement employee benefitsEfek pajak terkait 2s, 35 - - - - 509.712.002 509.712.002 Related tax effectDana cadangan umum 24 - - - 1.000.000.000 (1.000.000.000) - Appropriated for general reservesDividen kas 24 - - - - (48.750.000.000) (48.750.000.000) Laba bersih untuk tahun berjalan - - - - 80.002.543.527 80.002.543.527

Saldo per 31 Desember 2019 75.000.000.000 102.724.933.405 (3.813.835.107) 18.000.000.000 656.600.634.891 848.511.733.189 Balance as of December 31, 2019

Dampak penerapan awal standar Impact of initial application of newakuntansi baru PSAK 73 - - - - (113.570.212) (113.570.212) accounting standards PSAK 73

Saldo per 1 Januari 2020 75.000.000.000 102.724.933.405 (3.813.835.107) 18.000.000.000 656.487.064.679 848.398.162.977 Balance as of January 1, 2020

2d, 8 - - (49.983.378.605) - - (49.983.378.605) assetsEfek pajak terkait 2s, 35 - - 41.448.238 - - 41.448.238 Related tax effectPenilaian kembali imbalan kerja 2t, 20 - - - - 2.617.261.014 2.617.261.014 Remeasurement employee benefitsEfek pajak terkait 2s, 35 - - - - (802.503.249) (802.503.249) Related tax effectDana cadangan umum 24 - - - 1.000.000.000 (1.000.000.000) - Appropriated for general reservesDividen kas 24 - - - - (32.100.000.000) (32.100.000.000) Laba bersih untuk tahun berjalan - - - - 92.908.485.040 92.908.485.040


Catatan atas laporan keuangan konsolidasian merupakan bagian The accompanying notes to consolidated financial statementsyang tidak terpisahkan dari laporan keuangan konsolidasian are an integral part of these consolidated financial statements

Cash dividendsCurrent year net income

Aset keuangan tersedia untukdijual

Cash dividends

Aset keuangan tersedia untuk Available-for-sale financial

Current year net income

Saldo laba/Retained Earnings

dijual

5

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESLAPORAN ARUS KAS CONSOLIDATED STATEMENTS OFKONSOLIDASIAN CASH FLOWSUntuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

Arus kas dari aktivitas operasi Cash flows from operating activities

Penerimaan premi Premium income receivedPenerimaan klaim reasuransi Reinsurance claims receivedPembayaran klaim Claims paidPembayaran komisi-bersih Commissions paid-netPembayaran premi reasuransi Reinsurance premiums paidPembayaran beban usaha Operating expenses paidPenerimaan/(pembayaran) Other receipts/

lain-lain - bersih (payments) - netPembayaran pajak Taxes paid

Kas bersih diperoleh Net cash provided bydari aktivitas operasi operating activities

Arus kas dari aktivitas investasi Cash flows from investing activities

Hasil penjualan dan Proceeds from sale and redemptionpencairan investasi of investments

Penerimaan bunga Interest income receivedPenerimaan dividen Dividend income receivedPenerimaan reksadana Mutual fund income receivedPenerimaan sewa Rent receivedPenempatan investasi Placement of investmentsPerolehan aset tetap Acquisition of fixed assetsHasil penjualan aset tetap Proceed from fixed assetsPembelian piranti lunak komputer Acquisition of computer software

Kas bersih diperoleh dari/(digunakan Net cash provided by/(used in)untuk) aktivitas investasi investing activities

Arus kas dari aktivitas pendanaan Cash flows from financing activities

Pembayaran dividen Dividends paidPembayaran kembali atas

liabilitas sewa Repayments of lease liabilities

Kas bersih digunakan untuk Net cash used inaktivitas pendanaan financing activities

Dampak perubahan nilai kurs pada Effect of exchange rate changeskas dan bank cash on hand and in banks

Kenaikan bersih Net increase inkas dan bank cash on hand and in banks

Kas dan bank pada awal Cash on hand and in banks attahun the beginning of the year

Cash on hand and in banksKas dan bank pada akhir tahun at the end of the year


24.351.821.522


2h, 12 1.282.178.952

(174.272.381.033) 43.589.092.126

(32.084.592.000) (48.726.600.000)

(33.786.533.412) (48.726.600.000)

665.000.001 2i, 13

24.104.264.372 17.515.063.757

6.589.200.615

(1.701.941.412)

20.806.070.258

(1.692.093.387.109) (972.419.669.790)

(369.830.349.156) (67.178.365.346) (75.206.275.203)

1.485.371.514.350 996.480.143.075

(14.020.402.951)

(80.610.672.951)

17.515.063.757 16.493.397.856

57.543.580

91.066.525 194.335.854

(1.031.709.180) (776.752.826)

(289.790.177) 55.495.212

(10.054.810.989)

2.032.848.860 16.395.274.987

2h, 12 (16.702.306.900)

14.667.549.923

1.021.665.901

(419.621.229.123)

-

214.592.619.848 6.448.963.952

1.577.254.866.433 1.459.517.427.608 286.731.870.138 228.208.382.183

(951.724.442.350) (1.055.663.220.956)

(119.268.938.492) 317.048.238 (10.990.468.461)

(166.873.645.811)

2020Catatan/

2019Notes

6

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESCATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED FINANCIALKONSOLIDASIAN STATEMENTSUntuk tahun-tahun yang berakhir For the years ended 31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

1. U M U M 1. GENERAL

a. Pendirian Perusahaan a. Establishment of the Company

PT Lippo General Insurance Tbk (“Perusahaan”) berkedudukandi Jakarta Selatan dan didirikan dengan nama PT AsuransiBrawidjaja berdasarkan Akta Pendirian Nomor 1 tanggal 6September 1963, dibuat dihadapan Adasiah Harahap, S.H.,dahulu Notaris di Jakarta, akta telah diubah dengan Akta Nomor28 tanggal 31 Desember 1963 dan Akta Nomor 46 tanggal 24Januari 1964 tentang perubahan nama Perusahaan dari PTAsuransi Brawidjaja menjadi PT Maskapai Asuransi MargaPusaka, keduanya dibuat dihadapan John Leonard Waworuntu,pada waktu itu sebagai notaris pengganti dari Adasiah Harahap,S.H., dahulu notaris di Jakarta dan telah mendapatkanpengesahan dari Menteri Kehakiman RI sebagaimanatercantum dalam Penetapan Menteri Kehakiman RepublikIndonesia Nomor J.A.5/19/2 tanggal 4 Februari 1964, telahdidaftarkan di Kantor Panitera Pengadilan Negeri Surabayadibawah No. 232 tanggal 11 Februari 1964, serta telahdiumumkan dalam Berita Negara Republik Indonesia Nomor 31tanggal 17 April 1964, Tambahan Berita Negara Nomor 74.

PT Lippo General Insurance Tbk (“Company”) was domiciledin South of Jakarta and established with name PT AsuransiBrawidjaja based on Notarial Deed Number 1 datedSeptember 6, 1963, that made before Adasiah Harahap, S.H.,as a Notary in Jakarta, which deed that changed with NotarialDeed number 28 dated December 31, 1963 and Notarial deednumber 46 dated January 24, 1964 about the change ofcompany name from PT Asuransi Brawidjaja into PT MaskapaiAsuransi Marga Pusaka, both of them made before JohnLeonard Waworuntu, at that time as a substitute notary fromAdasiah Harahap, S.H., formerly as a notary in Jakarta andapproved by Minister of Law Republic Indonesia DecreeNumber J.A.5/19/2 dated February 4, 1964, which has beenregistered on the district court clerk’s office of SurabayaNumber 232 dated February 11, 1964, and was published inState Gazette of Republic Indonesia Number 31 dated April17, 1964, Supplement number 74.

Kemudian Perusahaan mengubah nama dari PT MaskapaiAsuransi Marga Pusaka menjadi PT Asuransi Marga Pusakasesuai dengan Akta Nomor 4 tanggal 1 Oktober 1982 yangdibuat dihadapan Misahardi Wilamarta, S.H., Notaris di Jakartasebagaimana tercantum dalam Keputusan Menteri KehakimanRepublik Indonesia Nomor C2-4625.HT.01.04.TH.83 tanggal 21Juni 1983, serta telah diumumkan dalam Berita Negara Nomor47 tanggal 13 Juni 1997, Tambahan Berita Negara Nomor2295. Sesuai dengan Akta Nomor 53 tanggal 9 Januari 1991yang dibuat oleh Misahardi Wilamarta, S.H, Notaris di Jakarta,Perusahaan mengubah kedudukan semula di Surabaya menjadidi Jakarta sebagaimana tercantum dalam Keputusan MenteriKehakiman Republik Indonesia Nomor C2-8274HT.01.04.TH.91 tanggal 30 Desember 1991. Perusahaankembali mengubah nama menjadi PT Lippo General Insuranceberdasarkan Akta Nomor 118 tanggal 6 Juli 1991 yang dibuatdihadapan Misahardi Wilamarta, S.H., Notaris di Jakartasebagaimana tercantum dalam Keputusan Menteri KehakimanRepublik Indonesia tanggal 30 Desember 1991 nomor C2-8274.HT.01.01.TH.91 serta telah diumumkan dalam BeritaNegara Nomor 19 tanggal 6 Maret 1992, Tambahan BeritaNegara Nomor 986.

Then Company changed its name from PT Maskapai AsuransiMarga Pusaka into PT Asuransi Marga Pusaka based onNotarial Deed number 4 dated October 1, 1982 that madebefore Misahardi Wilamarta, S.H., Notary in Jakarta as statedin Minister of Law Republic Indonesia Decree number C2-4625.HT.01.04.TH.83 dated June 21, 1983, and alsopublished on State Gazette number 47 dated June 13, 1997,Supplement number 2295. According to Notarial Deed number53 dated January 9, 1991 that made by Misahardi Wilamarta,S.H., notary in Jakarta, Company changed its location fromSurabaya to Jakarta as stated in Minister of Law RepublicIndonesia Decree number C2-8274 HT.01.04.TH.91 datedDecember 30, 1991. Company changed its name again intoPT Lippo General Insurance based on Notarial Deed number118 dated July 6, 1991 that made before Misahardi Wilamarta,S.H., notary in Jakarta as stated in Minister of Law RepublicIndonesia dated December 30, 1991 number C2-8274.HT.01.01.TH.91 and also announced on State Gazzettenumber 19 dated March 6, 1992, Supplement number 986.

Seluruh Anggaran Dasar Perusahaan telah mengalamibeberapa kali perubahan antara lain sehubungan denganperubahan status perseroan menjadi perusahaan terbukasesuai dengan Akta Nomor 155 tanggal 21 April 1997 yangdibuat dihadapan Misahardi Wilamarta, S.H., Notaris di Jakartasebagaimana tercantum dalam Keputusan Menteri KehakimanRepublik Indonesia Nomor C2-3250.HT.01.04.TH.97 tanggal 30April 1997 serta telah diumumkan dalam Berita Negara Nomor54 tanggal 8 Juli 1997, Tambahan Berita Negara Nomor 2699.

All of the Articles of Association Company’s has undergonesome changes among others in connection with a change inthe status of the company into a public company based onNotarial Deed number 155 dated April 21, 1997 that madebefore Misahardi Wilamarta, S.H., notary in Jakarta as statedin Minister of Law Republic Indonesia number C2-3250.HT.01.04.TH.97 dated April 30, 1997 and also publishedon State Gazette number 54 dated July 8, 1997, Supplementnumber 2699.

7

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkDAN ENTITAS ANAK AND ITS SUBSIDIARIESCATATAN ATAS LAPORAN KEUANGAN NOTES TO CONSOLIDATED FINANCIALKONSOLIDASIAN (Lanjutan) STATEMENTS (Continued)Untuk tahun-tahun yang berakhir For the years ended 31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

1. U M U M (Lanjutan) 1. GENERAL (Continued)

a. Pendirian Perusahaan (lanjutan) a. Establishment of the Company (continued)

The Company's Articles of Association last modified onMeeting Decision statement deed of PT Lippo GeneralInsurance Tbk number 28 dated April 12, 2019, that made byStephanie Wilamarta, SH, Notary in Jakarta, that NotarialDeed already granted approval from Minister of Law andHuman Rights Republic Indonesia number AHU-0024108.AH.01.02 year 2019 about amendment to the articlesof association of PT Lippo General Insurance Tbk dated May7, 2019 and also acquired receive notice from Minister of Lawand Human Rights Republic Indonesia number AHU-AH.01.03.0232270 dated May 7, 2019.

Perusahaan mengubah Anggaran Dasar terakhir kali denganAkta Pernyataan Keputusan Rapat PT Lippo General InsuranceTbk dengan nomor 28 tanggal 12 April 2019, dibuat olehStephanie Wilamarta, SH, Notaris di Jakarta, akta tersebut telahmendapat persetujuan dari Kementerian Hukum dan Hak AsasiManusia Republik Indonesia nomor AHU-0024108.AH.01.02.Tahun 2019 tentang Persetujuan Perubahan Anggaran DasarPerseroan Terbatas PT Lippo General Insurance Tbk tanggal 7Mei 2019 dan telah mendapat Penerimaan Pemberitahuan dariKementerian Hukum dan Hak Asasi Manusia RepublikIndonesia nomor AHU-AH.01.03.0232270 tanggal 7 Mei 2019.

Dalam rangka penyesuaian Undang-Undang Nomor 40 Tahun2007 tentang Perseroan Terbatas, anggaran dasar Perusahaantelah diubah dengan Akta Nomor 111 tanggal 20 Februari2009, dibuat dihadapan Aulia Taufani, S.H., pada waktu itunotaris pengganti dari Sutjipto, S.H., Notaris di Jakarta, yangtelah mendapat persetujuan dari Menteri Hukum dan Hak AsasiManusia Republik Indonesia sebagaimana tercantum dalamSurat Keputusan Nomor AHU-11818.AH.01.02.Tahun 2009tanggal 8 April 2009, dan telah didaftarkan di Daftar PerseroanNomor AHU-0014989.AH.01.09.Tahun 2009 tanggal 8 April2009, serta telah diumumkan dalam Berita Negara RepublikIndonesia Nomor 51 tanggal 25 Juni 2010, Tambahan BeritaNegara No. 5299.

In order to adjust Law Number 40 in year 2007 aboutCompany Law, company’s articles of association has changeswith Notarial Deed number 111, dated February 20, 2009, thatmade before Aulia Taufani, S.H., at that time as a substitute ofnotary from Sutjipto, S.H., notary in Jakarta, which grantedapproval from Minister of Law and Human Rights RepublicIndonesia as stated in Decree number AHU-11818.AH.01.02.Year 2009 dated April 8, 2009, and has beenregistered in Company Register number AHU-0014989.AH.01.09.Year 2009 dated April 8, 2009 and alsoannounced on State Gazette number 51, dated June 25, 2010,Supplement number 5299.

Kemudian anggaran dasar Perusahaan diubah dalam AktaPernyataan Keputusan Rapat PT Lippo General Insurance Tbkdengan Nomor 25 tanggal 27 Mei 2015, dibuat dihadapanEngawati Gazali, S.H, Notaris di Jakarta, yang mana aktatersebut telah mendapat persetujuan berdasarkan SuratKeputusan Menteri Hukum dan Hak Asasi Manusia RepublikIndonesia nomor AHU-0937962.AH.01.02.Tahun 2015 tanggal24 Juni 2015. Perusahaan juga menyesuaikan danmenegaskan kepemilikan saham sebagaimana termuat dalamAkta Pernyataan Keputusan Rapat PT Lippo General InsuranceTbk dengan nomor 37 tanggal 8 Juni 2018, dibuat dioleh Notaris Satria Amiputra Amimakmur, SH, M.Kn, akta tersebut telahmendapat Penerimaan Pemberitahuan dari KementerianHukum dan Hak Asasi Manusia Republik Indonesia nomor AHU-AH.01.03-0214781 tanggal 9 Juni 2018.

Then, Company’s Articles of Association modified on MeetingDecision statement deed of PT Lippo General Insurance Tbknumber 25, dated May 27, 2015, that made before EngawatiGazali, S.H., notary in Jakarta which that Notarial Deed alsogranted based on Minister of Law and Human Rights RepublicIndonesia number AHU-0937962.AH.01.02.Year 2015 datedJune 24, 2015. The Company also adjusting and affirming theshare ownership as stated in Meeting Decision statementdeed of PT Lippo General Insurance Tbk number 37 datedJune 8, 2018, that made by notary Satria AmiputraAmimakmur, SH, M.Kn, that Notarial Deed also acquiredreceive notice from Minister of Law and Human RightsRepublic Indonesia number AHU-AH.01.03-0214781 datedJune 9, 2018.

Berdasarkan Akta Anggaran Dasar Pasal 3 ayat 1, maksud dantujuan dari Perusahaan ialah berusaha dalam bidang Asuransi.

In accordance with the Company's Article of Association article3 clause 1, the aim and objective of the Company is to engagein providing insurance.

Perusahaan berkedudukan di Jakarta Selatan, dengan KantorPusat di Gedung Lippo Kuningan Lantai 27, Unit A & F, Jl. H. R.Rasuna Said kav. B-12. Perusahaan memiliki Kantor Cabangdan Kantor Pemasaran yang berlokasi di Karawaci, GatotSubroto, Medan, Surabaya, Palembang, Bandung, Semarang,Solo, Pekanbaru, Cikarang, Makassar, Jakarta Kota,Balikpapan dan Bali. Entitas Induk Utama Perusahaan adalahPT Inti Anugerah Pratama.

The Company is located in South Jakarta and its head office isat Lippo Kuningan Building Floor 27, Unit A & F, Jl. H. R.Rasuna Said kav. B-12. Its branches and marketing office arelocated in Karawaci, Gatot Subroto, Medan, Surabaya,Palembang, Bandung, Semarang, Solo, Pekanbaru, Cikarang,Makassar, Jakarta Kota, Balikpapan and Bali. Ultimate ParentEntity is PT Inti Anugerah Pratama.

8



b. b.

c. c.

Dewan Komisaris Board of CommissionersPresident Commissioner

Komisaris Independen Independent CommissionerKomisaris Independen Independent Commissioner

Dewan Direksi Board of DirectorsPresiden Direktur President DirectorDirektur Independen Independent DirectorDirektur Director

Komite Audit: Audit CommitteeKetua ChairmanAnggota MemberAnggota Member

Gilbert Deddy NaibahoJohannes Agus

Benny Haryanto Djie *)

The Company obtained its operating license from the Ministryof Finance based on its Letter No. Kep-173/KM.13/1992 datedJune 17, 1992. The Company commenced its commercialactivities in 1983.


31 Desember 2019/

Frans LamuryKarnadi Nawawi

Raymond Liu

December 31, 2020

December 31, 2020

Frans Lamury

Frans Lamury

Perusahaan telah memperoleh izin usaha dari MenteriKeuangan dengan surat keputusan terakhir No. Kep-173/KM.13/1992 tanggal 17 Juni 1992. Perusahaan memulaikegiatan komersialnya pada tahun 1983.

Agus Benjamin

December 31, 2019

Johannes Agus

December 31, 201931 Desember 2019/

Presiden Komisaris

Frans LamuryJamilah Mawira Sungkar

Benny Haryanto Djie

Initial Public Offering of the Company

Pada tanggal 31 Desember 2020 dan 2019, susunan pengurusberdasarkan Pernyataan Keputusan Rapat dalam akta No. 8tanggal 7 Agustus 2020 yang dibuat dihadapan StephanieWilamarta, SH, notaris di Jakarta dan akta No. 114 tanggal 24Oktober 2019 yang dibuat dihadapan Satria Amiputra A, S.E.,Ak, S.H., M.Ak., M.H., M.Kn., notaris di Jakarta, adalah sebagaiberikut:

As of December 31, 2020 and 2019, based on MeetingDecision Statement held on August 7, 2020 as documented inNotarial Deed No. 8, that made before Stephanie Wilamarta,SH, notary in Jakarta and on October 24, 2019, asdocumented in Notarial Deed No. 114, that made before SatriaAmiputra A, S.E., Ak, S.H., M.Ak., M.H., M.Kn., notary inJakarta respectively, the Company’s management consists ofthe following:

31 Desember 2020/

Perusahaan telah mendapat persetujuan dari Menteri KeuanganRI - Bapepam pada tahun 1997 untuk mencatatkan 51.000.000sahamnya dengan nilai nominal Rp 500 per saham denganharga perdana sebesar Rp 2.225 pada bursa efek di Indonesia.Sebelum dilakukan penawaran umum saham kepadamasyarakat, jumlah saham ditempatkan dan disetor adalah99.000.000 saham, sehingga sesudah penawaran umumtersebut jumlah seluruh saham ditempatkan dan disetor adalah150.000.000 saham. Tanggal efektif penawaran umum perdanatersebut adalah tanggal 27 Juni 1997. Pencatatan sahamtersebut dilakukan pada tanggal 22 Juli 1997 pada Bursa EfekIndonesia. Seluruh saham perusahaan telah tercatat padaBursa Efek Indonesia.

In 1997, the Company obtained the approval from the Ministryof Finance Bapepam for the initial public offering of 51,000,000shares with Rp 500 par value per share with an offering priceof Rp 2,225 per share at the Indonesian Stock Exchange. Priorto the initial public offering, the issued and fully paid capital is99,000,000 shares, thus after the initial public offering, theissued and fully paid capital became 150,000,000 shares. Theinitial public offering became effective on June 27, 1997. Theshares were listed on July 22, 1997 in the Indonesia StockExchange. All of the Company's shares are listed in theIndonesia Stock Exchange.

Manajemen kunci dan informasi lainnya Key management and other information

Penawaran Umum Saham Perusahaan


31 Desember 2020/

Agus Benjamin

Karnadi Nawawi Raymond Liu

Ali Chendra **)

9



c. c.

*) *)

**) **)

d. d.

Cipta Proteksi Dinamis III

CIMB Principal CPF

CB XXXII

Manajemen kunci dan informasi lainnya (lanjutan) Key management and other information (continued)

Jumlah aset (sebelum eliminasi)/

Mutual fund

Reksadana/

Jakarta

Entitas anak yang dikonsolidasikan ke dalam laporan keuangankonsolidasian Grup merupakan Entitas Bertujuan Khusus (EBK)dalam bentuk reksa dana dengan ringkasan sebagai berikut:

The subsidiary that is consolidated into the Group'sconsolidation financial statements is a Special Purpose Entity(SPE) in the form of a mutual fund with a summary as follows:

Domisili/ Domicile

Jenis usaha/ Nature of business

Tahun operasi

Efektif per 7 Agustus 2020, berdasarkan keputusan rapatpemegang saham yang telah menyetujui pengundurandirinya sebagai Presiden Komisaris.

Effective August 7, 2020, based on shareholder's meetingdecision agreed agreed his resignation as PresidentCommissioner.

Consolidated subsidiary

Start of commercial operations

Jakarta

Reksadana/

Mutual fund 2017 51.034.047.686 49.968.511.748

Entitas anak/ Subsidiary 2019

2016 100.370.567.606

komersial/

100.205.365.653

Reksadana Terproteksi

Total assets (before elimination)

Entitas anak Perusahaan, PT Lippo Life Assurance ("LLA"),didirikan pada 15 April 2013 dan memperoleh izin usaha olehOtoritas Jasa Keuangan (OJK) dengan Surat Keputusan No.Kep-124/D.05/2014 tertanggal 31 Oktober 2014. LLA adalahperusahaan yang bergerak di bidang asuransi jiwa danberdomisili di Jakarta, Indonesia. Persentase kepemilikanefektif perusahaan pada 31 Desember 2020 dan 2019 adalahmasing-masing sebesar 99,99%. Jumlah aset sebelumeliminasi pada 31 Desember 2020 dan 2019 adalah sebesar Rp184.950.288.649 dan Rp 170.461.868.008.

The Company's subsidiary, PT Lippo Life Assurance ("LLA"),was established on April 15, 2013 and obtained operationallicense from Financial Service Authority in its Decision LetterNo. Kep-124/D.05/2014 dated October 31, 2014. LLA isengaged in life insurance activity, is domiciled in Jakarta,Indonesia. The Company's effective percentage of ownershipas of December 31, 2020 and 2019 is 99.99%. Its total assetsbefore elimination as of December 31, 2020 and 2019 are Rp184,950,288,649 and Rp 170,461,868,008, respectively.

Laporan keuangan konsolidasian ini telah selesai dandiotorisasi oleh manajemen Perusahaan pada tanggal 25 Maret2021. Manajemen bertanggung jawab atas penyusunan danpenyajian laporan keuangan konsolidasian.

As of December 31, 2020 and 2019, the Company has 340and 311 permanent employees, respectively (unaudited).

2020

The accompanying consolidated financial statements werecompleted and authorized for issue by the Company'smanagement on March 25, 2021. Management responsible forthe preparation of the consolidated financial statements.

Pada tanggal 31 Desember 2020 dan 2019, Perusahaanmemiliki karyawan tetap sejumlah 340 dan 311 orang (tidakdiaudit).

Entitas anak yang dikonsolidasi

Reksadana Terproteksi

Pada tanggal 7 Agustus 2020, berdasarkan keputusan rapatpemegang saham yang telah menyetujui pengangkatandirinya sebagai Presiden Komisaris dan jabatannya efektifsetelah lulus penilaian kemampuan dan kepatutan OJKsebagaimana surat keputusan no. KEP-46/NB.11/2021tanggal 29 Januari 2021.

On August 7, 2020 based on shareholder's meetingdecision agreed her appointment as PresidentCommissioner and his position effective after passed fit andproper test OJK according to decision letter no. KEP-46/NB.11/2021 dated January 29, 2021.

10



d. d.

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Dasar penyajian laporan keuangan konsolidasian a.

Reksa Dana Terproteksi Cipta Proteksi Dinamis III dan CIMBPrincipal CPF CB XXXII adalah Reksa Dana bersifat terbukaberbentuk Kontrak Investasi Kolektif (KIK) berdasarkanPeraturan Otoritas Jasa Keuangan No. 23/POJK.04/2016tentang Reksa Dana berbentuk Kontrak Investasi Kolektif yangberlaku sejak tanggal 19 Juni 2016 dan Peraturan Otoritas JasaKeuangan No. 48/POJK.04/2015 tentang PedomanPengelolaan Reksa Dana Terproteksi, Reksa Dana denganpenjaminan, dan Reksa Dana Indeks yang berlaku tanggal 29Desember 2015.

Reksa Dana Terproteksi Cipta Proteksi Dinamis III andCIMB Principal CPF CB XXXII are Open-end Fund that haveform Collective Investment Contract (KIK) based onRegulation of the Financial Service Authority No.23/POJK.04/2016 regarding Mutual fund in form of CollectiveInvestment Contract effective date June 19, 2016 andRegulation of the Financial Service Authority No.48/POJK.04/2015 regarding the Guidelines on Management ofProtected Mutual Fund, Mutual Fund with guarantee and IndexMutual Fund effective date December 29, 2015.

Consolidated subsidiary (continued)

Basis of preparation of the consolidated financial statements

Laporan keuangan konsolidasian telah disusun dan disajikansesuai dengan Standar Akuntansi Keuangan di Indonesia, yangmencakup Pernyataan Standar Akuntansi Keuangan (“PSAK”)dan Interpretasi Standar Akuntansi Keuangan ("ISAK") yangdikeluarkan oleh Dewan Standar Akuntansi Keuangan IkatanAkuntan Indonesia ("DSAK IAI") dan Peraturan-peraturanmengenai Pedoman Penyajian dan Pengungkapan LaporanKeuangan yang diterbitkan oleh Otoritas Jasa Keuangan("OJK").

The consolidated financial statements have been preparedand presented in accordance with Indonesian FinancialAccounting Standards, which comprise the Statement ofFinancial Accounting Standards ("SFAS") and Interpretationsof Statement of Financial Accounting ("ISFAS") Standardissued by the Financial Accounting Standards Board (“DSAK”)of the Indonesian Institute of Accountants and Regulation ofthe Financial Service Authority (“OJK”) for the Guidance onFinancial Statements Presentation and Disclosures.

KIK Reksa Dana Terproteksi Cipta Proteksi Dinamis IIIbetween PT Ciptadana Asset Management as InvestmentManager and PT CIMB Niaga Tbk as custodian bank set forthin the Deed No. 15 dated November 15, 2016 of LeolinJayayanti, S.H., M.Kn, notary in Jakarta. The effective dateof Mutual Funds is November 30, 2016. The purpose of thatMutual Fund is to provide 100% principal protection againstthe investment fund units to be achieved overall at the end ofthe settlement date through investment mechanisms inaccordance with the investment policy and provide unitholders potential distribution of investment returns.

Perusahaan merupakan pendiri atau sponsor dari reksadana,serta memperoleh manfaat utama dari kegiatan reksadana dansekaligus memiliki seluruh unit penyertaan reksa dana tersebut.

Entitas anak yang dikonsolidasi (lanjutan)

KIK Reksa Dana Terproteksi Cipta Proteksi Dinamis III antaraPT Ciptadana Asset Management sebagai Manajer Investasidan PT CIMB Niaga Tbk sebagai Bank Kustodian dituangkandalam Akta No. 15 tanggal 15 November 2016 di hadapanLeolin Jayayanti, S.H., M.Kn notaris di Jakarta. Tanggal efektifReksadana 30 November 2016. Tujuan Reksa Dana adalahuntuk memberikan proteksi 100% atas pokok investasiterhadap unit penyertaan yang akan dicapai secarakeseluruhan pada tanggal pelunasan akhir melaluimekanisme investasi sesuai dengan kebijakan investasiserta memberikan pemegang unit penyertaan potensipembagian hasil investasi.

The Company is the founder or the sponsor of the mutualfund, and receive the main benefit resulted from the mutualfund activities and also own the whole units of the mutualfund.

KIK Reksa Dana Terproteksi CIMB-Principal CPF CB XXXIIantara PT CIMB-Principal Asset Management sebagai ManajerInvestasi dan PT Bank Central Asia Tbk sebagai BankKustodian dituangkan dalam Akta No. 49 tanggal 30 Oktober2017 yang dibuat dihadapan Dini Lastari Siburian, S.H., notarisdi Jakarta. Tanggal efektif Reksa Dana adalah 14 November2017. Tujuan investasi Reksa Dana adalah memberikanproteksi 100% atas pokok investasi yang akan dicapai secarakeseluruhan pada tanggal pelunasan akhir.

KIK Reksa Dana Terproteksi CIMB-Principal CPF CB XXXIIbetween PT CIMB-Principal Asset Management as InvestmentManager and PT Bank Central Asia Tbk as custodian bank setforth in the Deed No. 49 dated October 30, 2017 of DiniLastari Siburian, S.H., notary in Jakarta. The effective dateof Mutual Funds is November 14, 2017. The purpose of MutualFund is to provide 100% principal protection against theinvestment fund units to be achieved overall at the end of thesettlement date.

11


2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING (Lanjutan) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(Continued)

a. Dasar penyajian laporan keuangan konsolidasian a.(lanjutan) (continued)

b. b.

b.1. b.1.

Mata uang pelaporan yang digunakan dalam penyusunanlaporan keuangan konsolidasian adalah Rupiah, yangmerupakan mata uang fungsional Grup.

The presentation currency used in the preparation of theconsolidated financial statements is the Indonesian Rupiah,which is the Group’s functional currency.

Basis of preparation of the financial statements consolidated

Standar, perubahan dan interpretasi yang berlaku efektifmulai tanggal 1 Januari 2020

Perusahaan dan entitas anak (“Grup”) menerapkan PSAK No. 1(Revisi 2013), “Penyajian Laporan Keuangan”, yang mengubahpenyajian kelompok pos-pos dalam Penghasilan KomprehensifLain. Pos-pos yang akan direklasifikasi ke laba rugi disajikanterpisah dari pos-pos yang tidak akan direklasifikasi ke labarugi.

The Company and its Subsidiary (the “Group”) implementedSFAS No. 1 (Revised 2013), “Presentation of FinancialStatements”, which changes the grouping of items presentedin Other Comprehensive Income. Items that could bereclassified to profit or loss would be presented separatelyfrom items that will never be reclassified.

Perubahan Pernyataan Standar Akuntansi Keuangan ("PSAK")dan interpretasi Pernyataan Standar Akuntansi Keuangan("ISAK")

Dasar pengukuran dalam penyusunan laporan keuangankonsolidasian adalah konsep biaya perolehan (historical cos t), kecuali beberapa akun tertentu disusun berdasarkanpengukuran lain, sebagaimana diuraikan dalam kebijakanakuntansi masing-masing akun tersebut. Laporan keuangankonsolidasian disusun berdasarkan konsep akrual, kecuali aruskas.

Penyusunan laporan keuangan konsolidasian sesuai denganStandar Akuntansi Keuangan di Indonesia mengharuskanpenggunaan estimasi dan asumsi. Hal tersebut jugamengharuskan manajemen untuk membuat pertimbangandalam proses penerapan kebijakan akuntansi Grup. Area yangkompleks atau memerlukan tingkat pertimbangan yang lebihtinggi atau area di mana asumsi dan estimasi dapat berdampaksignifikan terhadap laporan keuangan konsolidasiandiungkapkan di Catatan 3.

Pada tanggal 1 Januari 2020, Grup menerapkanpernyataan standar akuntansi keuangan (“PSAK”) daninterpretasi standar akuntansi keuangan (“ISAK”) barudan revisi yang efektif sejak tanggal tersebut. Perubahankebijakan akuntansi Grup telah dibuat seperti yangdisyaratkan, sesuai dengan ketentuan transisi dalammasing-masing standar dan interpretasi.

Standards, amendments and interpretations whichbecame effective starting January 1, 2020

The consolidated financial statements have been preparedbased on historical cost, except for certain accounts which aremeasured on the basis described in the related accountingpolicies. The consolidated financial statements are preparedusing accrual basis, except for the statements of cash flows.

Laporan arus kas konsolidasian disusun dengan menggunakanmetode langsung dengan mengelompokkan arus kas dalamaktivitas operasi, investasi dan pendanaan.

The preparation of consolidated financial statements inconformity with Indonesian Financial Accounting Standardsrequires the use of certain critical accounting estimates andassumption. It also requires management to exercise itsjudgement in the process of applying the Group’s accountingpolicies. The areas involving a higher degree of judgement orcomplexity, or areas where assumptions and estimates aresignificant to the consolidated financial statements aredisclosed in Note 3.

On January 1, 2020, the Group adopted new andrevised statements of financial accounting standards(“SFAS”) and interpretations to statements of financialaccounting standards (“ISFAS”) that are mandatory forapplication from that date. Changes to the Group’saccounting policies have been made as required, inaccordance with the transitional provisions in therespective standards and interpretations.

Changes to the Statements of Financial Accounting Standards("SFAS") and interpretations to Statement of FinancialAccounting Standards ("ISFAS")

The consolidated statement of cash flows is prepared basedon the direct method by classifying cash flows on the basis ofoperating, investing, and financing activities.

12



b. b.

b.1. b.1.

- -- -- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

PSAK 71, "Instrumen keuangan" SFAS 71, "Financial Instrument"PSAK 72, "Pendapatan dari kontrak dengan pelanggan" SFAS 72, "Revenue from contract with customers"PSAK 73, "Sewa" SFAS 73, "Leases"

PSAK 62 (Amandemen 2017): “Kontrak Asuransitentang Menerapkan PSAK 71: Instrumen Keuangandengan PSAK 62: Kontrak Asuransi”;

SFAS 62 (Amendment 2017): “Insurance Contractregarding Applying SFAS 71: Financial Instrumentswith SFAS 62: Insurance Contract”;

ISAK 35, "Penyajian laporan keuangan entitasberorientasi bonlaba"

IFAS 35, "Presentation of financial statements for non-profit oriented entities”

Amandemen PSAK 1, "Penyajian laporan keuangan"tentang judul laporan keuangan

The amendments to SFAS 1, "Presentation offinancial statements” about titles of financialstatements

Amandemen PSAK 15, "Investasi pada entitas asosiasidan ventura bersama"

The amendments to SFAS 15, "Investments inassociates and joint ventures”

Amandemen PSAK 25, "Kebijakan akuntansi,perubahan estimasi akuntansi, dan kesalahan"

The amendments to SFAS 25, "Accounting policies,changes in accounting estimates and errors”Annual improvements on SFAS 1, "Presentation offinancial statements”

Amandemen PSAK 71, "Instrumen Keuangan" tentangfitur percepatan pelunasan dan kompensasi negatif

The amendements to SFAS 71, "Financialinstruments” about prepayment features with negativecompensation

Amandemen PSAK 60, "Instrumen keuangan:Pengungkapan" tentang reformasi acuan suku bunga

The amandements of SFAS 60, "Financialinstruments: Disclosure” about interest ratebenchmark reform

Amandemen PSAK 1 “Penyajian Laporan Keuangan”dan PSAK 25 “Kebijakan akuntansi, perubahanestimasi akuntansi, dan kesalahan”

Amendment to SFAS 1 “Presentation of FinancialStatements” and SFAS 25 “Accounting policies,changes in accounting estimates and errors”

Kecuali untuk perubahan yang dijelaskan di bawah ini,implementasi dari standar-standar tersebut tidakmenghasilkan perubahan substansial terhadap kebijakanakuntansi Perusahaan dan tidak memiliki dampak yangmaterial terhadap laporan keuangan.

Except for the changes described below, theimplementation of these standards did not result insubstantial changes to the Company's accountingpolicies and had no material impact on the financialstatements.

Penyesuaian tahunan atas PSAK 1, "PenyajianLaporan Keuangan"

The amandements of SFAS 73, "Lease” about rentconcession related to COVID-19

Amandemen PSAK 73, "Sewa" tentang konsesi sewaterkait COVID-19

Changes to the Statements of Financial Accounting Standards("SFAS") and interpretations to Statement of FinancialAccounting Standards ("ISFAS") (continued)

Standar, perubahan dan interpretasi yang berlaku efektifmulai tanggal 1 Januari 2020 (lanjutan)

Standards, amendments and interpretations whichbecame effective starting January 1, 2020 (continued)

Perubahan Pernyataan Standar Akuntansi Keuangan ("PSAK")dan interpretasi Pernyataan Standar Akuntansi Keuangan("ISAK") (lanjutan)

13



b. b.

b.1. b.1.

- -

a. a.

b. b.

- -

In accordance with the transitional requirements ofPSAK 73 "Leases", Group has opted the applicationwith a cumulative effect at the beginning of theapplication recognized on January 1, 2020 and did notrestate comparative information. In the statement offinancial position as of January 1, 2020, the Companyhas recorded the asset use rights and lease liabilities(Note 11).

Deferral approach : pengecualian temporer daripenerapan PSAK 71 bagi entitas yang aktivitasutamanya adalah menerbitkan kontrak asuransisebagaimana dalam ruang lingkup PSAK 62 (yangditerapkan pada level entitas pelapor);

Deferrral approach: temporary exemption from theapplication of SFAS 71 to an entity whose principalactivity is to issue an insurance contract as within thescope of SFAS 62 (which applies at the level of thereporting entity);

Amendemen ini memberikan 2 (dua) pendekatan yangbersifat opsional bagi entitas asuransi sebagai berikut:

This Amendment provides 2 (two) approaches that areoptional for the insurer are as follow:

PSAK 62 (Amandemen 2017): “Kontrak Asuransitentang Menerapkan PSAK 71: Instrumen Keuangandengan PSAK 62: Kontrak Asuransi”;

SFAS 62 (Amendment 2017): “Insurance Contractregarding Applying SFAS 71: Financial Instrumentswith SFAS 62: Insurance Contract”;

Overlay approach : memperkenankan entitas untukmereklasifikasi beberapa penghasilan atau beban yangtimbul dari aset keuangan yang ditetapkan dari labarugi ke penghasilan komprehensif lain.

Overlay approach: allows an entity to reclassifymultiple income or expenses arising from a definedfinancial asset from profit or loss to anothercomprehensive income.

Grup memilih penerapan Deferral approach . Group has opted for Deferral approach.





PSAK 73, "Sewa" SFAS 73, "Leases"

Penerapan PSAK 73 mengakui aset hak-guna danliabilitas sewa sehubungan dengan sewa yangsebelumnya diklasifikasikan sebagai 'sewa operasi'berdasarkan prinsip-prinsip dalam PSAK 30, "Sewa".Liabilitas sewa diukur pada nilai kini dari sisapembayaran sewa, yang didiskontokan denganmenggunakan suku bunga pinjaman inkremental. Asethak-guna diukur pada jumlah yang sama denganliabilitas sewa, disesuaikan dengan jumlah pembayarandi muka atau pembayaran sewa yang masih harusdibayar.

The adoption of SFAS 73, the Company recognisedright-of-use assets and lease liabilities in relation toleases which were previously classified as 'operatingleases' under the principles of SFAS 30 "Leases".These lease liabilities were measured at the presentvalue of the remaining lease payments, discountedusing the Company’s incremental borrowing rate.Right-of-use assets were measured at the amountequal to the lease liability, adjusted by the amount ofany prepaid or accrued lease payments.

Sesuai dengan persyaratan transisi pada PSAK 73"Sewa", Grup memilih penerapan dengan dampakkumulatif pada awal penerapan diakui pada tanggal 1Januari 2020 dan tidak menyajikan kembali informasikomparatif. Dalam laporan posisi keuangan padatanggal 1 Januari 2020, Perusahaan telahmembukukan aset hak-guna dan liabilitas sewa(Catatan 11).

14



b. b.

b.1. b.1.

- -

- -

- -

- -

- -

- -

b.2. b.2.

- -



menerapkan tingkat diskonto tunggal untuk portofoliosewa dengan karakteristik yang cukup serupa;

the use of a single discount rate to a portfolio ofleases with reasonably similar characteristics;

sewa operasi yang masa sewanya berakhir dalam 12bulan dari 1 Januari 2020 diperlakukan sebagai sewajangka pendek;

operating leases with a remaining lease term of lessthan 12 months as at January 1, 2020 are treatedas short-term leases;


pengecualian biaya langsung awal dari pengukuranaset hak-guna pada tanggal penerapan awal;

the exclusion of initial direct costs for themeasurement of the right-of-use asset at the date ofinitial application;


Dalam menerapkan PSAK 73 untuk pertama kalinya,Perusahaan menerapkan cara praktis berikut yangdiizinkan oleh standar:

In applying SFAS 73 for the first time, the Companyused the following practical expedients permitted bythe standard:

Amandemen PSAK 22, "Kombinasi bisnis" The amendments to SFAS 22, "Businesscombinations"

Sampai dengan tanggal pengesahan laporan keuangankonsolidasian ini, manajemen masih mempelajari dampakyang mungkin timbul dari penerapan standar baru danrevisi tersebut serta pengaruhnya pada laporan keuangankonsolidasian.

Standar, perubahan dan Interpretasi yang sudahditerbitkan tetapi belum berlaku efektif

Standards, amendments and Interpretation issued butnot yet effective

relying on the assessment of whether leases areonerous based on SFAS 57, “Provisions, contingentliabilities and contingent assets” immediately beforethe date of initial application as an alternative toperforming an impairment review.

menggunakan tinjauan ke belakang ("hindsight") dalam menentukan masa sewa jika kontrakmengandung opsi untuk memperpanjang ataumenghentikan sewa;

the use of hindsight in determining the lease termwhere the contract contains options to extend orterminate the lease;

mengandalkan penilaian apakah sewa bersifatmemberatkan sesuai PSAK 57, "Provisi, liabilitaskontinjensi, dan aset kontinjensi" segera sebelumtanggal penerapan awal sebagai alternatif untukmelakukan tinjauan penurunan nilai.

PSAK 73, "Sewa" (lanjutan) SFAS 73, "Leases" (continued)

Standar baru, perubahan dan interpretasi yang telahditerbitkan, namun belum berlaku efektif untuk tahun bukuyang dimulai pada tanggal 1 Januari 2020 adalahsebagai berikut:

New standards, amendments and interpretations issuedbut not yet effective for the financial year beginningJanuary 1, 2020 are as follows:

As at the authorization date of this consolidated financialstatements, management is still evaluating the potentialimpact of these new and revised standards andinterpretations to the consolidated financial statements.

15



c. c.

The consolidated financial statements incorporate theconsolidated financial statements of the Company and entitiesin which the Company has the ability to directly or indirectlyexercise control.

Laporan keuangan Entitas anak disusun dengan periodepelaporan yang sama dengan Perusahaan. Kebijakan akuntansiyang digunakan dalam penyajian laporan keuangankonsolidasian telah diterapkan secara konsisten oleh Grup,kecuali dinyatakan lain.

The financial statements of the Subsidiary are prepared for thesame reporting period as the Parent Company. Theaccounting policies adopted in preparing the consolidatedfinancial statements have been consistently applied by theGroup, unless otherwise stated.

Principles of consolidation

Laporan keuangan konsolidasian meliputi laporan keuangankonsolidasian Perusahaan dan entitas yang dikendalikansecara langsung ataupun tidak langsung oleh Perusahaan.

Transaksi antar perusahaan, saldo dan keuntungan antarentitas Grup yang belum direalisasi dieliminasi. Kerugian yangbelum direalisasi juga dieliminasi. Kebijakan akuntansi entitasanak diubah jika diperlukan untuk memastikan konsistensidengan kebijakan akuntasi yang diadopsi Grup.

Prinsip-prinsip konsolidasian

Control is achieved when the Group is exposed, or has rights,to variable returns from its involvement with the investee andhas the ability to affect those returns through its power overthe investee.

Grup menerapkan PSAK 65 (Revisi 2013), “Laporan KeuanganKonsolidasian”. PSAK 65, ‘Laporan keuangan kosolidasian’mendasarkan prinsip yang telah ada dengan mengidentifikasikonsep pengendalian sebagai faktor utama dalam menentukanapakah entitas harus dimasukkan ke dalam laporankonsolidasian entitas induk. Standar ini memberikan petunjuktambahan untuk membantu dalam kondisi penentuanpengendalian sulit untuk dinilai. Dalam prinsip yang baru, Grupmengendalikan suatu entitas ketika Grup terekspos terhadap,atau memiliki hak atas, pengembalian variabel dariketerlibatannya terhadap entitas dan memiliki kemampuanuntuk mempengaruhi pengembalian tersebut melaluikekuasaannya atas entitas tersebut.

The Group adopted SFAS 65 (Revised 2013), “ConsolidatedFinancial Statements”. SFAS 65, 'Consolidated financialstatements’ builds on existing principles by identifying theconcept of control as the determining factor in whether anentity should be included within the consolidated financialstatements of the parent company. The standard providesadditional guidance to assist in the determination of controlwhere this is difficult to assess. Under the new principles, theGroup controls an entity when the Group is exposed to, or hasright to, variable returns from its involvement with the entityand has the ability to affect those return through its power overthe entity.

Inter-company transactions, balances and unrealized gains ontransactions between Group companies are eliminated.Unrealized losses are also eliminated. Accounting policies ofsubsidiary have been changed where necessary to ensureconsistency with the policies adopted by the Group.

Pengendalian didapat ketika Grup terekspos atau memiliki hakatas imbal hasil variabel dari keterlibatannya dengan investeedan memiliki kemampuan untuk mempengaruhi imbal hasiltersebut melalui kekuasaannya atas investee.

Entitas-entitas anak dikonsolidasi secara penuh sejak tanggalakuisisi, yaitu tanggal Perusahaan memperoleh pengendalian,sampai dengan tanggal Perusahaan kehilangan pengendalian.Pengendalian dianggap ada ketika Perusahaan memiliki secaralangsung atau tidak langsung melalui entitas-entitas anak, lebihdari setengah kekuasaan suara entitas.

Subsidiaries are fully consolidated from the date of acquisition,being the date on which the Company obtains control, andcontinue to be consolidated until the date when such controlceases. Control is presumed to exist if the Company owns,directly or indirectly through subsidiaries, more than half of thevoting power of an entity.

16



c. c.

a.

b.

c.

a.

b.

c.

Hak yang timbul dari pengaturan kontraktual lain.

Hak suara dan hak suara potensial Grup. The Group’s voting rights and potential voting rights.

Rights arising from other contractual arrangements.

The contractual arrangement with the other vote holders ofthe investee.

c.

Eksposur atau hak atas imbal hasil variabel dariketerlibatannya dengan investee, dan

Kekuasaan atas investee (misal, hak yang ada memberikankemampuan kini untuk mengarahkan aktivitas relevaninvestee).

Power over the investee (i.e., existing rights that give it thecurrent ability to direct the relevant activities of theinvestee).

The Group re-assesses whether or not it controls an investeeif facts and circumstances indicate that there are changes toone or more of the three elements of control. Consolidation ofa subsidiary begins when the Group obtains control over thesubsidiary and ceases when the Group loses control of thesubsidiary. Assets, liabilities, income and expenses of asubsidiary acquired or disposed of during the period areincluded in the consolidated statement of profit or loss andother comprehensive income from the date the Group gainscontrol until the date the Group ceases to control thesubsidiary.

Kemampuan untuk menggunakan kekuasaannya atasinvestee untuk mempengaruhi jumlah imbal hasil investor.

Prinsip-prinsip konsolidasian (lanjutan)

a.

b.

a.

b.

c.

Ketika Grup memiliki kurang dari hak suara mayoritas, Grupdapat mempertimbangkan semua fakta dan keadaan yangrelevan dalam menilai apakah memiliki kekuasaan atasinvestee tersebut:

When the Group has less than a majority of the voting orsimilar right of an investee, the Group considers all relevantfacts and circumstances in assessing whether it has powerover an investee, including:

Secara spesifik, Grup mengendalikan investee jika dan hanyajika Grup memiliki seluruh hal berikut ini:

Specifically, the Group controls an investee if and only if theGroup has:

Exposure, or rights, to variable returns from its involvementwith the investee, andThe ability to use its power over the investee to affect itsreturns.

Laba atau rugi dan setiap komponen atas penghasilankomprehensif lain diatribusikan pada pemegang saham entitasinduk Grup dan pada kepentingan non pengendali (“KNP”),walaupun hasil di kepentingan non pengendali mempunyaisaldo defisit. Bila diperlukan, penyesuaian dilakukan padalaporan keuangan anak perusahaan agar kebijakanakuntansinya sesuai dengan kebijakan akuntansi Grup. Semuaaset dan liabilitas, ekuitas, penghasilan, beban dan arus kasberkaitan dengan transaksi antar anggota Grup akan dieliminasisecara penuh dalam proses konsolidasi.

Profit or loss and each component of other comprehensiveincome ("OCI") are attributed to the equity holders of theparent of the Group and to the non-controlling interest (“NCI”),even if this results in the NCI having a deficit balance. Whennecessary, adjustments are made to the financial statementsof subsidiaries to bring their accounting policies in line with theGroup’s accounting policies. All intra-group assets andliabilities, equity, income, expenses and cash flows relating totransactions between members of the Group are eliminated infull on consolidation.

Pengaturan kontraktual dengan pemilik hak suara yang lain.

Principles of consolidation (continued)

Grup menilai kembali apakah investor mengendalikan investeejika fakta dan keadaan mengindikasikan adanya perubahanterhadap satu atau lebih dari tiga elemen pengendalian.Konsolidasi atas anak perusahaan dimulai ketika Grup memilikipengendalian atas anak perusahaan dan berhenti ketika Grupkehilangan pengendalian atas anak perusahaan. Aset, liabilitas,penghasilan dan beban atas anak perusahaan yang diakuisisiatau dilepas selama periode termasuk dalam laporan laba rugidan penghasilan komprehensif lain konsolidasian dari tanggalGrup memperoleh pengendalian sampai dengan tanggal Grupmenghentikan pengendalian atas entitas anak perusahaan.

17



c. c.

a.

b.c.

d.e.f.

g.

d. d. Financial instruments

recognizes any surplus or deficit in profit or loss; and

Principles of consolidation (continued)

NCI represents the portion of the profit or loss and net assetsof the Subsidiary not attributable directly or indirectly to theCompany, which are presented in the consolidated statementof profit or loss and other comprehensive income and underthe equity section of the consolidated statement of financialposition, respectively, separately from the correspondingportion attributable to the owner of the parent entity.

menghentikan pengakuan akumulasi selisih penjabaran,yang dicatat di ekuitas, bila ada;

mengakui setiap perbedaan yang dihasilkan sebagaikeuntungan atau kerugian sebagai laba rugi; dan

mengakui setiap sisa investasi pada nilai wajarnya;

Prinsip-prinsip konsolidasian (lanjutan)

e.

menghentikan pengakuan jumlah tercatat setiap KNP; derecognizes the carrying amount of any NCI;derecognizes the cumulative translation differences,recorded in equity, if any;

menghentikan pengakuan aset (termasuk setiap goodwilldan liabilitas Entitas anak;

derecognizes the assets (including goodwill) and liabilitiesof the subsidiary;

Perubahan kepemilikan di anak perusahaan, tanpa kehilanganpengendalian, dihitung sebagai transaksi ekuitas. Jika Grupkehilangan pengendalian atas anak perusahaan, maka Grup:

A change in the ownership interest of a subsidiary, without aloss of control, is accounted for as an equity transaction. If theGroup loses control over a subsidiary, it:

recognizes the fair value of the consideration received;mengakui nilai wajar pembayaran yang diterima;recognizes the fair value of any investment retained;

Instrumen keuangan

mereklasifikasi ke laba rugi proporsi keuntungan dankerugian yang telah diakui sebelumnya dalam penghasilankomprehensif lain atau saldo laba, begitu pula menjadipersyaratan jika Grup akan melepas secara langsung asetatau liabilitas yang terkait.

reclassifies to profit or loss the parent’s share ofcomponents previously recognized in other comprehensiveincome or retained earnings, as appropriate, as would berequired if the Group had directly disposed of the relatedassets or liabilities.

a.

b.c.

d.

f.

g.

KNP mencerminkan bagian atas laba atau rugi dan aset bersihdari Entitas anak yang tidak dapat diatribusikan, secaralangsung maupun tidak langsung, pada Perusahaan, yangmasing-masing disajikan dalam laporan laba rugi danpenghasilan komprehensif lain konsolidasian dan dalam ekuitaspada laporan posisi keuangan konsolidasian, terpisah daribagian yang dapat diatribusikan kepada pemilik entitas induk.

Transactions with NCI that do not result in loss of control areaccounted for as equity transactions. The difference betweenthe fair value of any consideration paid and the relevant shareacquired of the carrying value of net assets of the subsidiary isrecorded in equity. Gains or losses on disposals to NCI arealso recorded in equity.

Transaksi dengan kepentingan non pengendali yang tidakmengakibatkan hilangnya pengendalian merupakan transaksiekuitas. Selisih antara nilai wajar imbalan yang dibayar danbagian yang diakuisisi atas nilai tercatat aset neto entitas anakdicatat pada ekuitas. Keuntungan atau kerugian pelepasankepentingan non-pengendali juga dicatat pada ekuitas.

The Group applied SFAS 50 (Revised 2014) “FinancialInstruments: Presentation”, SFAS 55 (Revised 2014)“Financial Instruments: Recognition and Measurement” andSFAS 60 (Revised 2014) “Financial Instruments: Disclosures".The adoption of these SFAS does not have significant impactto the consolidated financial statements.

Grup menerapkan PSAK 50 (Revisi 2014) “InstrumenKeuangan: Penyajian”, PSAK 55 (Revisi 2014) “InstrumenKeuangan: Pengakuan dan Pengukuran” dan PSAK 60 (Revisi2014) “Instrumen Keuangan: Pengungkapan”. PenerapanPSAK-PSAK ini tidak membawa dampak signifikan terhadaplaporan keuangan konsolidasian.

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d. Instrumen keuangan (lanjutan) d. Financial instruments (continued)

Klasifikasi Classification

i) Aset keuangan i) Financial assets

ii) Liabilitas keuangan ii) Financial liabilities

Pengakuan dan pengukuran Recognition and measurement

i) Aset keuangan i) Financial assets

The Group's financial assets consist of cash on hand and inbanks, premiums receivable, reinsurance receivables, otherreceivables, refundable deposit and time deposits classifiedas loans and receivables; shares, mutual fund, assetbacked securities, and bonds classified as financial assetsat fair value through profit or loss; shares, mutual fund, realestate investment trust, and investment in stock, classifiedas available for sale financial assets; and investment inbonds classified as held to maturity investment.

Liabilitas keuangan dalam lingkup PSAK 55 (Revisi 2014)dapat dikategorikan sebagai (i) liabilitas keuangan yangdiukur pada nilai wajar melalui laba rugi, (ii) liabilitaskeuangan yang diukur pada biaya perolehan diamortisasi,atau (iii) derivatif yang ditetapkan sebagai instrumen lindungnilai dalam lindung nilai yang efektif, mana yang sesuai.Grup menentukan klasifikasi liabilitas keuangan pada saatpengakuan awal.

Aset keuangan pada awalnya diakui sebesar nilai wajarnyaditambah, dalam hal investasi yang tidak diukur pada nilaiwajar melalui laba rugi, biaya transaksi yang dapatdiatribusikan secara langsung. Pengukuran aset keuangansetelah pengakuan awal tergantung pada klasifikasinya.

Financial assets are recognized initially at fair value plus, inthe case of investments not at fair value through profit orloss, directly attributable transaction costs. The subsequentmeasurement of financial assets depends on theirclassification.

Financial liabilities within the scope of SFAS 55 (Revised2014) are classified as (i) financial liabilities at fair valuethrough profit or loss, (ii) financial liabilities measured atamortized cost, or (iii) as derivatives designated as hedginginstruments in an effective hedge, as appropriate. TheGroup determines the classification of its financial liabilitiesat initial recognition.

Aset keuangan dalam lingkup PSAK 55 (Revisi 2014)diklasifikasikan sebagai (i) aset keuangan yang diukur padanilai wajar melalui laba rugi, (ii) pinjaman yang diberikan danpiutang, (iii) investasi dimiliki hingga jatuh tempo, (iv) atauaset keuangan tersedia untuk dijual, mana yang sesuai.Grup menentukan klasifikasi aset keuangan tersebut padasaat pengakuan awal dan, jika diperbolehkan dan sesuai,mengevaluasi kembali pengklasifikasian aset tersebut padasetiap akhir tahun keuangan.

The Group's financial liabilities consist of claims payable,reinsurance payables, commissions payable and otherpayables classified as financial liabilities measured atamortized cost.

Aset keuangan Grup terdiri dari kas dan bank, piutang premi,piutang reasuransi, piutang lain-lain, uang jaminan, dandeposito berjangka yang diklasifikasikan sebagai pinjamanyang diberikan dan piutang, saham, reksadana, efekberagunan aset, dan obligasi diklasifikasikan sebagai asetkeuangan yang diukur pada nilai wajar melalui laporan labarugi, saham, reksadana, dana investasi real estat danpenyertaan saham diklasifikasikan sebagai aset keuangantersedia untuk dijual, dan obligasi diklasifikasikan sebagaiinvestasi yang dimiliki hingga jatuh tempo.

Financial assets within the scope of SFAS 55 (Revised2014) are classified as (i) financial assets at fair valuethrough profit or loss, (ii) loans and receivables, (iii) held tomaturity investments, or (iv) available for sale financialassets, as appropriate. The Group determines theclassification of its financial assets at initial recognition and,where allowed and appropriate, revaluates the designationof such assets at each financial year end.

Liabilitas keuangan Grup terdiri dari utang klaim, utangreasuransi, utang komisi, dan utang lain-lain diklasifikasikansebagai liabilitas keuangan yang diukur dengan biayaperolehan diamortisasi.

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Pengakuan dan pengukuran (lanjutan) Recognition and measurement (continued)

i) Aset keuangan (lanjutan) i) Financial assets (continued)

a. a.

Purchases or sales of financial assets that require deliveryof assets within a time frame established by regulation orconvention in the market place (regular way trades) arerecognized on the trade date, i.e., the date that the Groupcommits to purchase or sell the assets.

Aset keuangan yang diukur pada nilai wajar melalui labarugi termasuk aset keuangan untuk diperdagangkan danaset keuangan yang ditetapkan pada saat pengakuanawal untuk diukur pada nilai wajar melalui laba rugi.

Aset keuangan diklasifikasikan sebagai kelompokdiperdagangkan jika mereka diperoleh untuk tujuan dijualatau dibeli kembali dalam waktu dekat. Aset derivatif jugadiklasifikasikan sebagai kelompok diperdagangkankecuali mereka ditetapkan sebagai instrumen lindung nilaiefektif. Aset keuangan yang diukur pada nilai wajarmelalui laba rugi ditetapkan pada nilai wajar dalamlaporan posisi keuangan konsolidasian denganperubahan nilai wajar diakui sebagai pendapatankeuangan atau biaya keuangan dalam laba rugi.

Reklasifikasi ke pinjaman yang diberikan dan piutang,tersedia untuk dijual atau dimiliki hingga jatuh tempotergantung pada sifat aset tersebut. Evaluasi ini tidakmempengaruhi aset keuangan yang ditetapkan pada nilaiwajar melalui laporan laba rugi menggunakan opsi nilaiwajar pada saat penentuan.

Pembelian atau penjualan aset keuangan yangmensyaratkan penyerahan aset dalam kurun waktu yangditetapkan oleh peraturan atau kebiasaan yang berlaku dipasar (pembelian yang lazim/reguler) diakui pada tanggalperdagangan, yaitu tanggal Grup berkomitmen untukmembeli atau menjual aset tersebut.

Subsequent to initial recognition, financial assets at fairvalue through profit or loss are measured at fair value instatements of financial position. Any gains or lossesarising from changes in fair value of the financial assetsare recognized in profit or loss.

Financial assets are classified as held for trading if theyare acquired for the purpose of selling or repurchasing inthe near term. Derivative assets are also classified asheld for trading unless they are designated as effectivehedging instruments. Financial assets at fair valuethrough profit and loss are carried in the consolidatedstatement of financial position at fair value with changesin fair value that recognized as financial income orexpenses in profit or loss.

Grup mengevaluasi aset keuangan untukdiperdagangkan, selain derivatif, untuk menentukanapakah niat untuk menjualnya dalam waktu dekat masihsesuai. Ketika Grup tidak mampu untukmemperdagangkan aset keuangan karena pasar tidakaktif dan niat manajemen untuk menjualnya di masamendatang secara signifikan berubah, Grup dapatmemilih untuk mereklasifikasi aset keuangan, dalamkondisi yang jarang terjadi.

The Group evaluated its financial assets held for trading,other than derivatives, to determine whether theintention to sell them in the near term is still appropriate.When the Group is unable to trade these financial assetsdue to inactive markets and management’s intention tosell them in the foreseeable future significantly changes,the Group may elect to reclassify these financial assetsin rare circumstances.

The reclassification to loans and receivables, availablefor sale or held to maturity depends on the nature of theasset. This evaluation does not affect any financialassets designated at fair value through profit or lossusing the fair value option at designation.

Setelah pengakuan awal, aset keuangan yang diukurpada nilai wajar melalui laporan laba rugi ditetapkan padanilai wajar dalam laporan posisi keuangan. Keuntunganatau kerugian yang timbul dari perubahan nilai wajar asetkeuangan diakui melalui laporan laba rugi.

Financial assets at fair value through profit or lossincludes financial assets held for trading and financialassets designated upon initial recognition at fair valuethrough profit or loss.

Aset keuangan yang diukur pada nilai wajar melaluilaporan laba rugi

Financial assets at fair value through profit or loss

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a. a.

b. Pinjaman yang diberikan dan piutang b Loans and receivables

c. Investasi dimiliki hingga jatuh tempo c. Held to maturity investments

Loans and receivables are non derivative financialassets with fixed or determinable payments that are notquoted in an active market. Such financial assets arecarried at amortized cost using the effective interest ratemethod.

Financial assets at fair value through profit or loss(continued)

Pinjaman yang diberikan dan piutang adalah asetkeuangan non-derivatif dengan pembayaran tetap atautelah ditentukan, yang tidak mempunyai kuotasi di pasaraktif. Aset keuangan tersebut dicatat sebesar biayaperolehan yang diamortisasi dengan menggunakanmetode suku bunga efektif.

Dividends on available for sale equity instrument, if any,are recognized in profit or loss when the Group’s right toreceive the dividends are established.

Held to maturity investments are non derivative financialassets with fixed or determinable payments and fixedmaturities are classified as held to maturity when theGroup has the positive intention and ability to hold themto maturity. After initial measurement, held-to-maturityinvestments are measured at amortized cost using theeffective interest rate method, less impairment.

Investasi dimiliki hingga jatuh tempo adalah asetkeuangan non-derivatif dengan pembayaran tetap atautelah ditentukan dan jatuh temponya telah ditetapkandiklasifikasikan sebagai dimiliki hingga jatuh tempo ketikaPerusahaan memiliki intensi positif dan kemampuanuntuk memiliki aset keuangan tersebut hingga jatuhtempo. Setelah pengukuran awal, investasi dimiliki hinggajatuh tempo diukur pada biaya perolehan yangdiamortisasi dengan menggunakan metode suku bungaefektif, dikurangi penurunan nilai.

Subsequent to initial recognition, held to maturityinvestments uses an effective interest rate that exactlydiscounts estimated future cash receipts through theexpected life of the financial asset to the net carryingamount of the financial asset. Gains and losses arerecognized in profit or loss when the investments arederecognized or impaired, as well as through theamortization process.

Gains and losses are recognized in profit or loss whenthe loans and receivables are derecognized or impaired,as well as through the amortization process.

Aset keuangan yang diukur pada nilai wajar melaluilaporan laba rugi (lanjutan)

Investasi dalam instrumen ekuitas yang tidak tercatat dibursa yang tidak mempunyai kuotasi harga pasar di pasaraktif dan nilai wajarnya tidak dapat diukur secara handaldiklasifikasikan sebagai aset keuangan tersedia untukdijual, diukur pada biaya perolehan dikurangi penurunannilai.

Investment in unlisted equity instruments that are notquoted in an active market and whose fair value cannotbe reliably measured are also classified as availabel forsale asset, measured at cost less impairment.

Keuntungan dan kerugian diakui sebagai laba rugi padasaat pinjaman yang diberikan dan piutang dihentikanpengakuannya atau mengalami penurunan nilai, sertamelalui proses amortisasi.

Dividen atas instrumen ekuitas aset tersedia untuk dijual,jika ada, diakui pada laporan laba rugi pada saat hak grupuntuk memperoleh pembayaran dividen ditetapkan.

Setelah pengakuan awal, investasi dimiliki hingga jatuhtempo menggunakan suku bunga efektif untukmendiskontokan estimasi penerimaan kas di masa datangselama perkiraan umur dari aset keuangan ke nilaitercatat bersih dari aset keuangan. Keuntungan dankerugian diakui dalam laporan laba rugi pada saatinvestasi tersebut dihentikan pengakuannya ataumengalami penurunan nilai, maupun melalui prosesamortisasi.

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d. Aset keuangan tersedia untuk dijual d Available for sale financial assets

The Group evaluates its available for sale financialassets whether the ability and intention to sell them inthe near term is still appropriate. When the Group isunable to trade these financial assets due to inactivemarkets and management’s intention to do sosignificantly changes in the foreseeable future, theGroup may elect to reclassify these financial assets inrare circumstances. Reclassification to loans andreceivables is permitted when the financial assets meetthe definition of loans and receivables and the Grouphas the intent and ability to hold these assets for theforeseeable future or until maturity. Reclassification tothe held to maturity category is permitted only when theentity has the ability and intention to hold the financialasset accordingly.

Untuk aset keuangan direklasifikasi keluar dari asetkeuangan tersedia untuk dijual, keuntungan atau kerugiansebelumnya atas aset tersebut yang telah diakui dalamekuitas diamortisasi ke laporan laba rugi selama sisaumur dari investasi dengan menggunakan suku bungaefektif. Selisih antara biaya perolehan diamortisasi barudan arus kas yang diharapkan juga diamortisasi selamasisa umur aset dengan menggunakan suku bunga efektif.Jika selanjutnya terjadi penurunan nilai aset, maka nilaiyang dicatat dalam akun ekuitas direklasifikasi ke laporanlaba rugi.

For a financial asset reclassified out of the available forsale category, any previous gain or loss on that assetthat has been recognized in equity is amortized to profitor loss over the remaining life of the investment usingthe effective interest rate. Any difference between thenew amortized cost and the expected cash flows is alsoamortized over the remaining life of the asset using theeffective interest rate. If the asset is subsequentlydetermined to be impaired, then the amount recorded inequity is reclassified to profit or loss.

Grup mengevaluasi aset keuangan tersedia untuk dijualapakah kemampuan dan niat untuk menjualnya dalamwaktu dekat masih sesuai. Ketika Grup tidak mampuuntuk memperdagangkan aset keuangan karena pasartidak aktif dan niat manajemen untuk melakukannyasecara signifikan berubahan di masa mendatang, Grupdapat memilih untuk mereklasifikasi aset keuangan dalamkondisi yang jarang terjadi. Reklasifikasi ke pinjamanyang diberikan dan piutang diperbolehkan ketika asetkeuangan memenuhi definisi pinjaman yang diberikan danpiutang dan Grup memiliki maksud dan kemampuanuntuk memiliki aset-aset di masa mendatang atau sampaijatuh tempo. Reklasifikasi ke kelompok dimiliki hinggajatuh tempo hanya diperbolehkan ketika entitas memilikikemampuan dan berkeinginan untuk menahan asetkeuangan sedemikian rupa.

After initial measurement, available for sale financialassets are subsequently measured at fair value withunrealized gains or losses recognized as profit or lossand other comprehensive income in the unrealized gainon change in fair value of available for sale financialassets until the investment is derecognized, at whichtime the cumulative gain or loss is recognized in otheroperating income, or determined to be impaired, at which time the cumulative loss is reclassified to profit or lossand removed from the equity.

Aset keuangan tersedia untuk dijual termasuk efekekuitas, adalah aset keuangan non-derivatif yangditetapkan sebagai tersedia untuk dijual atau yang tidakdiklasifikasikan dalam tiga kategori sebelumnya.

Setelah pengukuran awal, aset keuangan tersedia untukdijual selanjutnya diukur dengan nilai wajar dengankeuntungan atau kerugian yang belum terealisasi diakuisebagai laba rugi dan penghasilan komprehensif laindalam laba yang belum direalisasi atas perubahan nilaiwajar aset keuangan tersedia untuk dijual sampaiinvestasi tersebut dihentikan pengakuannya, pada saatkeuntungan atau kerugian kumulatif diakui dalampendapatan operasional lainnya, atau terjadi penurunannilai, pada saat kerugian kumulatif direklasifikasi ke labarugi dan dihapus dari ekuitas.

Available for sale financial assets include equitysecurities, which are non derivative financial assets thatare designated as available for sale or are not classifiedin any of the three preceding categories.

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d. Aset keuangan tersedia untuk dijual (lanjutan) d Available for sale financial assets (continued)

ii) Liabilitas keuangan ii) Financial liabilities

Dividends on available for sale equity instruments, ifany, are recognized in profit or loss when the Group’sright to receive the dividends are established.

Beban bunga, jika ada, diakui dalam dalam laporan laba rugi.Keuntungan atau kerugian diakui pada laporan laba rugiketika liabilitas keuangan tersebut dihentikan pengakuannyadan melalui proses amortisasi.

After initial recognition, the Group measures all financialliabilities at amortized cost using effective interest ratesmethod.

Financial liabilities are recognized initially at fair value and,in the case of financial liabilities measured at amortizedcost, inclusive of directly attributable transaction costs.

Dividen atas instrumen ekuitas tersedia untuk dijual, jikaada, diakui pada laporan laba rugi pada saat hak Grupuntuk memperoleh pembayaran dividen ditetapkan.

Investments in unlisted equity instruments that are notquoted in an active market and whose fair value cannotbe reliably measured are also classified as available forsale asset, measured at cost less impairment.

Aset keuangan dan liabilitas keuangan saling hapus dan nilainetonya dilaporkan dalam laporan posisi keuangan jika, danhanya jika, saat ini memiliki hak yang berkekuatan hukum untukmelakukan saling hapus atas nilai yang telah diakui danterdapat maksud untuk menyelesaikan secara neto, atau untukmerealisasikan aset dan menyelesaikan liabilitas secarabersamaan.

Financial assets and financial liabilities are offset and the netamount reported in the statement of financial position if, andonly if, there is a currently enforceable legal right to offset therecognized amounts and there is an intention to settle on a netbasis, or to realize the assets and settle the liabilitiessimultaneously.

Offsetting of financial instruments

Setelah pengakuan awal, Grup mengukur seluruh liabilitaskeuangan yang diukur dengan biaya perolehan diamortisasidengan menggunakan metode suku bunga efektif.

Interest expense, if any, is recognized in the profit or loss.Gains or losses are recognized in profit or loss when thefinancial liabilities are derecognized as well as through theamortization process.

Saling hapus dari instrumen keuangan

Liabilitas keuangan yang diukur pada biaya perolehandiamortisasi, selanjutnya setelah pengakuan awal diukurpada biaya perolehan diamortisasi, menggunakan sukubunga efektif kecuali jika dampak diskonto tidak material,maka dinyatakan pada biaya perolehan.

Financial liabilities measured at amortized cost aremeasured, subsequent to initial recognition, at amortizedcost using the effective interest rate method unless theeffect of discounting would be immaterial, in which casethey are stated at cost.

Liabilitas keuangan diakui pada awalnya sebesar nilai wajardan, dalam hal liabilitas keuangan yang diukur pada biayaperolehan diamortisasi, termasuk biaya transaksi yang dapatdiatribusikan secara langsung.

Investasi dalam instrumen ekuitas yang tidak tercatat dibursa yang tidak mempunyai kuotasi harga pasar di pasaraktif dan nilai wajarnya tidak dapat diukur secara handaldiklasifikasikan sebagai aset tersedia untuk jual, diukurpada biaya perolehan dikurangi penurunan nilai.

23




- -

- -

- -

- -

- -

Level 2 - Input other than quoted prices included withinlevel 1 that are observable for asset and liabilities, eitherdirectly (that is, as a price) or indirectly (derived from price).

A fair value measurement of a nonfinancial asset takes intoaccount a market participant's ability to generate economicbenefits by using the asset in its highest and best use or byselling it to another market participant that would use the assetin its highest and best use.

The principal or the most advantageous market must beaccessible to by the Group.

Level 1 - Quoted (unadjusted) market prices in activemarkets for identical assets or liabilities.

Tingkat 1 - harga kuotasian (tanpa penyesuaian) di pasaraktif untuk aset atau liabilitas yang identik.

The Group uses valuation techniques that are appropriate inthe circumstances and for which sufficient data are available tomeasure fair value, maximizing the use of relevant observableinputs and minimizing the use of unobservable inputs.

Semua aset dan liabilitas dimana nilai wajar diukur ataudiungkapkan dalam laporan keuangan konsolidasian dapatdikategorikan pada tingkat hirarki nilai wajar, berdasarkantingkatan input terendah yang signifikan atas pengukuran nilaiwajar secara keseluruhan:

All assets and liabilities for which fair value is measured ordisclosed in the consolidated financial statements arecategorized within the fair value hierarchy, described asfollows, based on the lowest level input that is significant to thefair value measurement as a whole:

Tingkat 2 - Input selain harga yang dikutip dari pasar yangdisertakan pada tingkat 1 yang dapat diobservasi untuk asetdan liabilitas, baik secara langsung (yaitu sebagai suatuharga) atau secara tidak langsung (sebagai turunan dariharga).

Nilai wajar dari instrumen keuangan

Nilai wajar aset atau liabilitas diukur menggunakan asumsi yangakan digunakan pelaku pasar ketika menentukan harga asetatau liabilitas tersebut, dengan asumsi bahwa pelaku pasarbertindak dalam kepentingan ekonomi terbaiknya.

Tingkat 3 - Input untuk aset atau liabilitas yang tidakdidasarkan pada data pasar yang dapat diobservasi(informasi yang tidak dapat diobservasi).

Fair value of financial instruments

The Group adopted SFAS 68 (Revised 2014) “Fair ValueMeasurement”, according to this SFAS, fair value is the pricethat would be received to sell an asset or paid to transfer aliability in an orderly transaction between market participants at the measurement date. The fair value measurement is basedon the presumption that the transaction to sell the asset ortransfer the liability takes place either:

Level 3 - Input for asset or liability that are not based onobservable market data (unobservable information).

Grup menggunakan teknik penilaian yang tepat sesuai keadaandan dimana tersedia kecukupan data untuk mengukur nilaiwajar, memaksimalkan penggunaan input yang dapatdiobservasi yang relevan dan meminimalisir penggunaan inputyang tidak dapat diobservasi.

The fair value of an asset or a liability is measured using theassumptions that market participants would use when pricingthe asset or liability, assuming that market participants act intheir economic best interest.

Di pasar utama untuk aset dan liabilitas tersebut, atau In the principal market for the asset and liability, or

Jika tidak terdapat pasar utama, di pasar yang palingmenguntungkan untuk aset atau liabilitas tersebut.

In the absence of a principal market, in the mostadvantageous market for the asset or liability.

Grup harus memiliki akses ke pasar utama atau pasar yangpaling menguntungkan.

Grup menerapkan PSAK 68 (Revisi 2014), “Pengukuran NilaiWajar”, dalam PSAK ini, nilai wajar adalah harga yang akanditerima untuk menjual suatu aset atau harga yang akan dibayaruntuk mengalihkan suatu liabilitas dalam transaksi teraturantara pelaku pasar pada tanggal pengukuran. Pengukuran nilai wajar mengasumsikan bahwa transaksi untuk menjual aset ataumengalihkan liabilitas terjadi:

Pengukuran nilai wajar atas aset non keuanganmempertimbangkan kemampuan pelaku pasar dalammenghasilkan keuntungan ekonomi dengan penggunaan asetpada kemampuan tertinggi dan terbaik aset atau denganmenjualnya ke pelaku pasar yang lain yang akan menggunakanaset di kemampuan tertinggi dan terbaik.

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Nilai wajar dari instrumen keuangan (lanjutan)

Setiap akhir periode laporan, Grup mengevaluasi apakahterdapat bukti yang obyektif bahwa aset keuangan ataukelompok aset keuangan mengalami penurunan nilai. Asetkeuangan atau kelompok aset keuangan diturunkan nilainyadan kerugian penurunan nilai telah terjadi jika, dan hanya jika,terdapat bukti yang obyektif mengenai penurunan nilai tersebutsebagai akibat dari satu atau lebih peristiwa yang terjadi setelahpengakuan awal aset tersebut (peristiwa yang merugikan), danperistiwa yang merugikan tersebut berdampak pada estimasiarus kas masa depan atas aset keuangan atau kelompok asetkeuangan yang dapat diestimasi secara handal.

The Group assesses at the end of each reporting periodwhether there is any objective evidence that a financial assetor a group of financial assets is impaired. A financial asset or agroup of financial assets is deemed to be impaired if, and onlyif, there is objective evidence of impairment as a result of oneor more events that has occurred after the initial recognition ofthe asset (an incurred "loss event") and that loss event has animpact on the estimated future cash flows of the financial assetor the group of financial assets that can be reliably estimated.

Bukti penurunan nilai meliputi indikasi bahwa kesulitankeuangan signifikan yang dialami penerbit atau pihak peminjam,wanprestasi atau tunggakan pembayaran pokok atau bunga,kemungkinan bahwa pihak peminjam akan dinyatakan pailitatau melakukan reorganisasi keuangan lainnya dan data yangdapat diobservasi mengindikasikan adanya penurunan yangdapat diukur atas estimasi arus kas masa datang, misalnyaperubahan kondisi ekonomi yang berkorelasi denganwanprestasi atas aset dalam kelompok tersebut.

Untuk tujuan pengungkapan nilai wajar, Grup telah menentukankelas aset dan liabilitas berdasarkan sifat, karakteristik, danrisiko aset atau liabilitas, dan tingkat hirarki nilai wajar sepertidijelaskan di atas.

Untuk aset dan liabilitas yang diakui pada laporan keuangankonsolidasian secara berulang, Grup menentukan apakahterjadi transfer antara tingkat di dalam hirarki dengan caramengevaluasi kategori (berdasarkan input level terendah yangsignifikan dalam pengukuran nilai wajar) setiap akhir periodepelaporan.

Biaya perolehan diamortisasi dihitung dengan menggunakanmetode suku bunga efektif dikurangi dengan penyisihan ataspenurunan nilai dan pembayaran pokok atau nilai yang tidakdapat ditagih. Perhitungan tersebut mencakup premium ataudiskonto pada saat perolehan dan mencakup biaya transaksidan biaya yang merupakan bagian yang tak terpisahkan darisuku bunga efektif.

Amortized cost is computed using the effective interest ratemethod less any allowance for impairment and principalrepayment or reduction. The calculation takes into account anypremium or discount on acquisition and includes transactioncosts and fees that are an integral part of the effective interestrate.

Penurunan nilai aset keuangan Impairment of financial assets

Biaya perolehan diamortisasi dari instrumen keuangan

For the purpose of fair value disclosures, the Group hasdetermined classes of assets and liabilities on the basis of thenature, characteristics and risks of the asset or liability and thelevel of the fair value hierarchy as explained above.

For assets and liabilities that are recognized in theconsolidated financial statements on a recurring basis, theGroup determines whether transfers have occurred betweenlevels in the hierarchy by re-assessing categorization (basedon the lowest level input that is significant to the fair valuemeasurement as a whole) at the end of each reporting period.

Fair value of financial instruments (continued)

Amortized cost of financial instruments

Evidence of impairment may include indications that thedebtors or a group of debtors is experiencing significantfinancial difficulty, default or delinquency in interest or principalpayments, the probability that they will enter bankruptcy orother financial reorganization and where observable dataindicate that there is a measurable decrease in the estimatedfuture cash flows, such as changes in arrears or economicconditions that correlate with defaults.

25




a. a. Financial assets carried at amortized cost

If the Group determines that no objective evidence ofimpairment exists for an individually assessed financialasset, whether significant or not, it includes the asset in agroup of financial assets with similar credit riskcharacteristics and collectively assesses them forimpairment. Assets that are individually assessed forimpairment and for which an impairment loss is, orcontinues to be, recognized are not included in a collectiveassessment of impairment.

Jika terdapat bukti obyektif bahwa kerugian penurunan nilaitelah terjadi, jumlah kerugian tersebut diukur sebagai selisihantara nilai tercatat aset dengan nilai kini estimasi arus kasmasa datang (tidak termasuk ekspektasi kerugian kreditmasa datang yang belum terjadi). Nilai kini estimasi aruskasa masa datang didiskonto menggunakan suku bungaefektif awal dari aset keuangan tersebut. Jika pinjaman yangdiberikan dan piutang memiliki suku bunga masa datang,tingkat diskonto untuk mengukur kerugian penurunan nilaiadalah suku bunga efektif terkini. Nilai tercatat aset tersebutberkurang melalui penggunaan akun penyisihan dan jumlahkerugian diakui dalam laba rugi.

If there is objective evidence that an impairment loss hasoccurred, the amount of the loss is measured as thedifference between the assets carrying amount and thepresent value of estimated future cash flows (excludingfuture expected credit losses that have not yet beenincurred). The present value of the estimated future cashflows is discounted at the financial assets original effectiveinterest rate. If a loan and receivable has a variable interestrate, the discount rate for measuring any impairment loss isthe current effective interest rate. The carrying amount ofthe asset is reduced through the use of an allowanceaccount and the amount of the loss is recognized in profit orloss.

Untuk aset keuangan yang dicatat pada biaya perolehandiamortisasi, Grup pertama kali menentukan apakahterdapat bukti obyektif mengenai adanya penurunan nilaisecara individual atas aset keuangan yang signifikan secaraindividual atau untuk aset keuangan yang tidak signifikansecara individual terdapat bukti penurunan nilai secarakolektif.

For financial assets carried at amortized cost, the Groupfirst assesses whether objective evidence of impairmentexists individually for financial assets that are individuallysignificant, or collectively for financial assets that are notindividually significant.

Ketika aset tidak tertagih, nilai tercatat atas aset keuanganyang telah diturunkan nilainya dikurangi secara langsungatau jika ada suatu jumlah telah dibebankan ke akuncadangan penurunan nilai jumlah tersebut dihapusbukukanterhadap nilai tercatat aset keuangan tersebut.

When the asset becomes uncollectible, the carrying amountof the financial assets is reduced directly or if an amountwas charged to the allowance account, the amountscharged to the allowance account are written off against thecarrying value of the financial asset.

Jika, pada periode berikutnya, jumlah kerugian penurunannilai berkurang dan penurunan nilai tersebut diakui, makakerugian penurunan nilai yang sebelumnya diakuidipulihkan, sepanjang nilai tercatat aset tidak melebihibiaya perolehan diamortisasi pada tanggal pemulihandengan menyesuaikan akun cadangan. Jumlah pemulihanaset keuangan diakui pada laporan laba rugi.

If, in a subsequent period, the amount of the impairmentloss decreases and the impairment was recognized, thepreviously recognized impairment loss is reversed to theextent that the carrying amount of the asset does notexceed its amortized cost at the reversal date by adjustingthe allowance account. The amount of the reversal isrecognized in profit or loss.

Aset keuangan yang dicatat pada biaya perolehandiamortisasi

Jika Grup menentukan tidak terdapat bukti obyektifmengenai adanya penurunan nilai atas aset keuangan yangdinilai secara individual, terlepas aset keuangan tersebutsignifikan atau tidak, maka Grup memasukkan aset tersebutke dalam kelompok aset keuangan yang memilikikarakteristik risiko kredit yang sejenis dan menilai penurunannilai kelompok tersebut secara kolektif. Aset yang penurunannilainya dinilai secara individual, dan untuk itu kerugianpenurunan nilai diakui atau tetap diakui, tidak termasukdalam penilaian penurunan nilai secara kolektif.

26




a. a.

b. Aset keuangan tersedia untuk dijual b. Available for sale financial assets

Derecognition

a. a.

a a.

b. b.

For available for sale financial assets, the Group assessesat the end of each reporting period whether there isobjective evidence that an investment or group ofinvestment is impaired.

Dalam hal investasi ekuitas yang diklasifikasikan sebagaitersedia untuk dijual, bukti obyektif akan meliputi penurunanyang signifikan atau penurunan jangka panjang pada nilaiwajar investasi di bawah biaya perolehannya. 'Signifikan'yaitu evaluasi terhadap biaya perolehan awal investasi dan'jangka panjang' dimana nilai wajar telah di bawah biayaperolehannya. Dimana ada bukti penurunan nilai, kerugiankumulatif - diukur sebagai selisih antara biaya perolehandengan nilai wajar kini, dikurangi kerugian penurunan nilaipada investasi yang sebelumnya diakui dalam laporan labarugi - dihapus dari pendapatan komprehensif lain dan diakuidalam laporan laba rugi. Kerugian penurunan nilai atasinvestasi ekuitas tidak boleh dipulihkan melalui laporan labarugi, kenaikan nilai wajar setelah penurunan nilai diakuilangsung dalam pendapatan komprehensif lainnya.

Penghentian pengakuan

Aset keuangan yang dicatat pada biaya perolehandiamortisasi (lanjutan)

Financial assets carried at amortized cost (continued)

Suatu aset keuangan, atau mana yang berlaku, bagian dariaset keuangan atau bagian dari kelompok aset keuangansejenis, dihentikan pengakuannya pada saat:

A financial asset, or where applicable a part of a financialasset or part of a group of similar financial assets, isderecognized when:

Penerimaan kemudian atas piutang yang telahdihapusbukukan sebelumnya, jika pada periode berjalandikreditkan dengan menyesuaikan pada akun cadanganpenurunan nilai, sedangkan jika setelah akhir periodepelaporan dikreditkan sebagai pendapatan operasionallainnya.

Subsequent recoveries of previously written off receivables,if in the current period, are credited to the allowanceaccounts, but if after the reporting period, are credited toother operating income.

Aset keuangan Financial assets

In the case of equity investments classified as available forsale, objective evidence would include a significant orprolonged decline in the fair value of the investment belowits cost. ‘Significant’ is evaluated against the original cost ofthe investment and ‘prolonged’ against the period in whichthe fair value has been below its original cost. Where thereis evidence of impairment, the cumulative loss - measuredas the difference between the acquisition cost and thecurrent fair value, less any impairment loss on thatinvestment previously recognized in profit or loss - isremoved from other comprehensive income and recognizedin profit or loss. Impairment losses on equity investmentsare not reversed through the profit or loss; increases in theirfair value after impairment are recognized directly in othercomprehensive income.

hak kontraktual atas arus kas yang berasal dari asetkeuangan tersebut berakhir; atau

the contractual rights to receive cash flows from thefinancial asset have expired; or

Grup mentransfer hak kontraktual untuk menerima aruskas yang berasal dari aset keuangan atau menanggungkewajiban untuk membayar arus kas yang diterima tanpapenundaan yang signifikan kepada pihak ketiga melaluisuatu kesepakatan penyerahan dan (i) secara substansialmentransfer seluruh risiko dan manfaat atas kepemilikanaset keuangan tersebut, atau (ii) secara substansial tidakmentransfer dan tidak memiliki seluruh risiko dan manfaatatas kepemilikan aset keuangan tersebut, namun telahmentransfer pengendalian atas aset keuangan tersebut.

the Group has transferred its contractual rights toreceive cash flows from the financial asset or hasassumed an obligation to pay them in full withoutmaterial delay to a third party under a “pass-through”arrangement and either (i) has transferred substantiallyall the risks and rewards of the financial asset, or (ii) hasneither transferred nor retained substantially all the risksand rewards of the financial asset, but has transferredcontrol of the financial asset.

Untuk aset keuangan yang dicatat pada tersedia untuk dijual,Grup menilai setiap akhir periode laporan, apakah terdapatbukti obyektif bahwa investasi mengalami penurunan nilai.

27




Penghentian pengakuan (lanjutan) Derecognition (continued)

a. a.

b. Liabilitas keuangan b.

Financial assets (continued)

Financial liabilitiy

Aset keuangan (lanjutan)

Keterlibatan berkelanjutan yang berbentuk pemberianjaminan atas aset yang ditransfer diukur sebesar jumlahterendah dari jumlah tercatat aset dan jumlah maksimal daripembayaran yang diterima yang mungkin harus dibayarkembali.

Continuing involvement that takes the form of a guaranteeover the transferred asset is measured at the lower of theoriginal carrying amount of the asset and the maximumamount of consideration that the Group could be required torepay.

Aset yang ditransfer dan liabilitas terkait diukur dengan dasaryang mencerminkan hak dan liabilitas yang masih dimilikiGrup.

The transferred asset and the associated liability aremeasured on a basis that reflects the rights and obligationsthat the Group has retained.

A financial liability is derecognized when the obligationspecified in the contract is discharged or cancelled orexpired.

Ketika liabilitas keuangan saat ini digantikan dengan yanglain dari pemberi pinjaman yang sama dengan persyaratanyang berbeda secara substansial, atau modifikasi secarasubstansial atas ketentuan liabilitas keuangan yang saat iniada, maka pertukaran atau modifikasi tersebut dicatatsebagai penghapusan liabilitas keuangan awal danpengakuan liabilitas keuangan baru, dan selisih antara nilaitercatat liabilitas keuangan tersebut diakui dalam laporanlaba rugi.

When an existing financial liability is replaced by anotherfrom the same lender on substantially different terms, or theterms of an existing liability are substantially modified, suchan exchange or modification is treated as a derecognition ofthe original financial liability and the recognition of a newfinancial liability, and the difference in the respectivecarrying amounts is recognized in the profit or loss.

Pada saat penghentian pengakuan atas aset keuangansecara keseluruhan, maka selisih antara nilai tercatat danjumlah dari (i) pembayaran yang diterima, termasuk setiapaset baru yang diperoleh dikurangi setiap liabilitas baru yangharus ditanggung; dan (ii) setiap keuntungan atau kerugiankumulatif yang telah diakui secara langsung dalam ekuitasharus diakui pada laporan laba rugi dan penghasilankomprehensif lain konsolidasian.

On derecognition of a financial asset in its entirety, thedifference between the carrying amount and the sum of (i)the consideration received, including any new assetobtained less any new liability assumed; and (ii) anycumulative gain or loss that has been recognized directly inequity is recognized in the consolidated statement of profitor loss and other comprehensive income.

Liabilitas keuangan dihentikan pengakuannya ketika liabilitasyang ditetapkan dalam kontrak dihentikan atau dibatalkanatau kadaluwarsa.

Ketika Grup telah mentransfer hak untuk menerima arus kasdari aset atau telah menandatangani kesepakatan pelepasan(pass through arrangement ), dan secara substansial tidakmentransfer dan tidak memiliki seluruh risiko dan manfaatatas aset keuangan, maupun mentransfer pengendalian atasaset, aset tersebut diakui sejauh keterlibatan berkelanjutanGrup terhadap aset keuangan tersebut.

When the Group has transferred its rights to receive cashflows from an asset or has entered into a pass-througharrangement, and has neither transferred nor retainedsubstantially all of the risks and rewards of the asset nortransferred control of the asset, the asset is recognized tothe extent of the Group’s continuing involvement in theasset.

28



e. Properti investasi e. Investment properties

f. Biaya dibayar dimuka f. Prepaid expenses

Biaya dibayar dimuka diamortisasi selama masa manfaatnyadengan menggunakan metode garis lurus.

Prepaid expenses are amortized over their beneficial periodsusing the straight-line method.

Properti investasi Grup terdiri dari tanah, bangunan danprasarana yang dikuasai Grup untuk menghasilkan sewa atauuntuk kenaikan nilai atau kedua-duanya, dan tidak untukdigunakan dalam produksi atau penyediaan barang atau jasauntuk tujuan administratif atau dijual dalam kegiatan usahasehari-hari.

Investment properties of the Group consist of land, buildingand infrastructures held by the Group to earn rentals or forcapital appreciation or both, rather than for use in theproduction or supply of goods or services or for administrativepurposes or sale in the ordinary course of business.

Transfers to investment properties should be made when, andonly when, there is a change in use, evidenced by the end ofowner-occupation, commencement of an operating lease toanother party or end of construction or development. Transfersfrom investment properties should be made when, and onlywhen, there is a change in use, evidenced by thecommencement of owner-occupation or commencement ofdevelopment with a view to sell.

Properti investasi dihentikan pengakuannya pada saatpelepasan atau ketika properti investasi tersebut tidakdigunakan lagi secara permanen dan tidak memiliki manfaatekonomis di masa depan yang dapat diharapkan pada saatpelepasannya. Laba atau rugi yang timbul dari penghentian ataupelepasan properti investasi diakui dalam laporan laba rugidalam tahun terjadinya penghentian atau pelepasan tersebut.

An investment property should be derecognized upon disposalor when the investment property is permanently withdrawnfrom use and no future economic benefits are expected fromits disposal. Gains or losses arising from the retirement ordisposal of an investment property is credited or charged toprofit or loss in the year the asset is derecognized.

Transfer ke properti investasi dilakukan jika, dan hanya jika,terdapat perubahan penggunaan yang ditunjukkan denganberakhirnya pemakaian oleh pemilik, dimulainya sewa operasike pihak lain atau selesainya pembangunan ataupengembangan. Transfer dari properti investasi dilakukan jika,dan hanya jika, terdapat perubahan penggunaan yangditunjukkan dengan dimulainya penggunaan oleh pemilik ataudimulainya pengembangan untuk dijual.

Properti investasi dicatat sebesar nilai wajarnya, yangmencerminkan nilai pasar yang ditentukan setiap tahun olehpenilai independen. Nilai wajar didasarkan pada harga pasaraktif, yang apabila diperlukan dilakukan penyesuaian atasperbedaan sifat, lokasi atau kondisi dari investasi tersebut. Jikainformasi tidak tersedia, Grup menggunakan metode penilaianalternatif seperti harga pasar terkini atau proyeksi arus kas.Penilaian ini ditinjau ulang setiap tahun oleh penilai independen.Perubahan dalam nilai wajar dicatat dalam laporan laba rugi dan penghasilan komprehensif lain sebagai bagian dari hasilinvestasi.

Investment property is carried at fair value, representing openmarket value determined annually by external valuers. Fairvalue is based on active market prices, adjusted, if necessary,for any difference in the nature, location or condition of thespecific asset. If the information is not available, the Groupuses alternative valuation methods such as recent prices onless active markets or discounted cash flow projections. Thesevaluations are reviewed annually by independent appraiser.Changes in fair values are recorded in the statement of profitor loss and other comprehensive income as part of investmentincome.

For a transfer from investment properties to owner-occupiedproperty, the Group uses the cost method at the date ofchange in use. If an owner-occupied property becomes aninvestment property, the Group shall record the investmentproperty in accordance with the fixed assets policies up to thedate of change in use.

Untuk transfer dari properti investasi ke properti yang digunakansendiri, Grup menggunakan metode biaya pada tanggalperubahan penggunaan. Jika properti yang digunakan sendirioleh Grup menjadi properti investasi, Grup mencatat propertitersebut sesuai dengan kebijakan aset tetap sampai dengansaat tanggal terakhir perubahan penggunaannya.

29



g. Sewa g. Leases

Sebelum 1 Januari 2020 Before January 1, 2020

Setelah 1 Januari 2020 Subsequent to January 1, 2020

- -- -

- -

Aset hak-guna kemudian disusutkan menggunakan metodegaris lurus dari tanggal permulaan hingga tanggal yang lebihawal antara akhir umur manfaat aset hak-guna atau akhir masasewa. Selain itu, aset hak-guna secara berkala dinilai untukpenurunan nilai dan disesuaikan atas pengukuran kembali dariliabilitas sewa.

The right-of-use asset is subsequently depreciated using thestraight-line method from the commencement date to theearlier of the end of the useful life of the right-of-use asset orthe end of the lease term. In addition, the right-of-use asset isperiodically reduced by impairment losses, if any, and adjustedfor certain remeasurements of the lease liability.

Perusahaan memiliki hak untuk mengendalikan penggunaanaset.

The Company has the right to direct the use of the asset.

Pada tanggal dimulainya kontrak atau pada saat penilaiankembali kontrak yang mengandung sewa, Perusahaanmengalokasikan imbalan dalam kontrak untuk setiap unsursewa berdasarkan harga relatif dari unsur sewa.

At the inception or on reassessment of a contract that containsa lease component, the Company allocates the considerationin the contract to each lease component on the basis of theirrelative stand-alone prices.

Pada tanggal permulaan sewa, Perusahaan mengakui aset hak-guna dan liabilitas sewa. Aset hak-guna diukur pada biayaperolehan, dimana meliputi jumlah pengukuran awal liabilitassewa yang disesuaikan dengan pembayaran sewa yangdilakukan pada atau sebelum tanggal permulaan, ditambahdengan biaya langsung awal yang dikeluarkan dan estimasibiaya yang akan dikeluarkan untuk membongkar danmemindahkan aset pendasar atau untuk merestorasi asetpendasar ke kondisi yang disyaratkan dan ketentuan sewa,dikurangi dengan insentif sewa yang diterima.

The Company recognises a right-of-use asset and a leaseliability at the lease commencement date. The right-of-useasset is initially measured at cost, which comprises the initialamount of the lease liability adjusted for any lease paymentmade at or before the commencement date, plus any initialdirect cost incurred and an estimate of costs to dismantle andremove the underlying asset or to restore the underlying assetto the condition required by the terms and conditions of thelease, less any lease incentives received.

Perusahaan memiliki hak untuk memperoleh secarasubstansial seluruh manfaat ekonomi dari penggunaan asetselama periode penggunaan;

The Company has the right to obtain substantially all of theeconomic benefits from use of the asset throughout theperiod of use; and

Sewa dimana sebagian besar risiko dan manfaat yang terkaitdengan kepemilikan dipertahankan oleh pesewa diklasifikasikansebagai sewa operasi. Pembayaran sewa operasi dibebankanpada laporan laba rugi selama periode sewa.

Leases in which a significant portion of the risks and rewardsof ownership are retained by the lessor are classified asoperating leases. Payments made under operating leases arecharged to profit or loss over the term of the lease.

Mulai tanggal 1 Januari 2020, Perusahaan menerapkan PSAKNo. 73 yang mensyaratkan pengakuan liabilitas sewasehubungan dengan sewa yang sebelumnya diklasifikasikansebagai "sewa operasi". Kebijakan ini berlaku untuk kontrakyang disepakati atau diamandemen pada atau setelah 1 Januari2020.

Starting on January 1, 2020, the Company has adopted SFASNo. 73, which sets the requirement for recognition of leaseliabilities in relation to leases which had previously beenclassified as 'operating leases'. This policy is applied tocontracts entered into or amended on or after January 1, 2020.

Pada tanggal permulaan kontrak, Perusahaan menilai apakahkontrak merupakan, atau mengandung sewa.

At the inception of a contract, the Company assesses whetherthe contract is, or contains, a lease.

Suatu kontrak merupakan atau mengandung sewa jika kontraktersebut memberikan hak untuk mengendalikan penggunaanaset identifikasian selama suatu jangka waktu untukdipertukarkan dengan imbalan. Untuk menilai apakah kontrakmemberikan hak untuk mengendalikan penggunaan asetidentifikasian, Perusahaan mempertimbangkan apakah:

A contract is or contains a lease if the contract conveys theright to control the use of an identified asset for a period oftime in exchange for consideration. To assess whether acontract conveys the right to control the use of an identifiedasset, the Company considers whether:

Kontrak melibatkan penggunaan aset yang teridentifikasi; The contract involves the use of an identified asset;

30



g. Sewa (Lanjutan) g. Leases (Continued)

Setelah 1 Januari 2020 (lanjutan) Subsequent to January 1, 2020 (continued)

Modifikasi sewa Lease modification

Liabilitas sewa diukur pada nilai kini pembayaran sewa yangbelum dibayar pada tanggal permulaan, didiskontokan denganmenggunakan suku bunga implisit dalam sewa atau jika sukubunga tersebut tidak dapat ditentukan, maka menggunakansuku bunga pinjaman inkremental.

The lease liability is initially measured at the present value ofthe lease payments that are not paid at the commencementdate, discounted using the interest rate implicit in the lease or,if that rate cannot be readily determined, using the incrementalborrowing rate. Generally, the Company uses its incrementalborrowing rate as the discount rate.

Liabilitas sewa diukur kembali ketika ada perubahanpembayaran sewa di masa depan yang timbul dari perubahansuatu indeks atau tingkat, jika ada perubahan dalam estimasiPerusahaan dari jumlah yang diharapkan akan dibayarkanberdasarkan jaminan nilai residu atau jika Perusahaanmengubah penilaiannya apakah akan melakukan opsipembelian, perpanjangan atau pemutusan kontrak.

The lease liability is measured at amortised cost using theeffective interest method. It is remeasured when there is achange in future lease payments arising from a change in anindex or rate, if there is a change in the Company’s estimate ofthe amount expected to be payable under a residual valueguarantee or if the Company changes its assessment ofwhether it will exercise a purchase, extension or terminationoption.

Ketika liabilitas sewa diukur kembali dengan cara tersebut,penyesuaian dilakukan terhadap jumlah tercatat dari aset hak-guna, atau diakui dalam laba rugi jika jumlah tercatat dari asethak-guna telah dikurangi menjadi nol.

When the lease liability is remeasured in this way, acorresponding adjustment is made to the carrying amount ofthe right-of-use asset or is recorded in profit or loss if thecarrying amount of the right-of-use asset has been reduced tozero.

Perusahaan menyajikan aset hak-guna yang tidak memenuhidefinisi properti investasi sebagai aset tetap dan liabilitas sewadalam laporan posisi keuangan.

The Company presents right-of-use assets that do not meetthe definition of investment property as fixed assets and leaseliabilities in the statements of financial position.

Perusahaan memutuskan untuk tidak mengakui aset hak-gunadan liabilitas sewa untuk sewa jangka-pendek yang memilikimasa sewa 12 bulan atau kurang. Perusahaan mengakuipembayaran sewa atas sewa tersebut sebagai beban dengandasar garis lurus selama masa sewa.

The Company has elected not to recognise right-ofuse assetsand lease liabilities for short-term leases that have a leaseterm of 12 months or less. The Company recognises the leasepayments associated with these leases as an expense on astraight-line basis over the lease term.

Perusahaan mencatat modifikasi sewa sebagai sewa terpisahjika: (a) modifikasi meningkatkan ruang lingkup sewa denganmenambahkan hak untuk menggunakan satu aset pendasaratau lebih; dan (b) imbalan sewa meningkat sebesar jumlahyang setara dengan harga tersendiri untuk peningkatan dalamruang lingkup dan penyesuaian yang tepat pada hargatersendiri tersebut untuk merefleksikan kondisi kontrak tertentu.

The Company accounts for a lease modification as a separatelease if both: (a) the modification increases the scope of thelease by adding the right to use one or more underlyingassets; and (b) the consideration for the lease increases by anamount commensurate with the stand-alone price for theincrease in scope and any appropriate adjustments to thatstand-alone price to reflect the circumstances of the particularcontract.

31



g. Sewa (Lanjutan) g. Leases (Continued)

Modifikasi sewa (lanjutan) Lease modification (continued)

h. Aset tetap h.

Untuk modifikasi sewa yang tidak dicatat sebagai sewaterpisah, pada tanggal efektif modifikasi sewa, Perusahaan: (a)mengukur kembali dan mengalokasikan imbalan kontrakmodifikasian; (b) menentukan masa sewa dari sewamodifikasian; (c) mengukur kembali liabilitas sewa denganmendiskontokan pembayaran sewa revisian menggunakantingkat diskonto revisian berdasarkan sisa umur sewa dan sisapembayaran sewa dengan melakukan penyesuaian terhadapaset hak-guna. Tingkat diskonto revisian ditentukan sebagaisuku bunga pinjaman inkremental Perusahaan pada tanggalefektif modifikasi;

For a lease modification that is not accounted for as aseparate lease, at the effective date of the lease modification,the Company: (a) remeasures and allocates the considerationin the modified contract; (b) determines the lease term of themodified lease; (c) remeasures the lease liability bydiscounting the revised lease payments using a reviseddiscount rate on the basis of the remaining lease term and theremaining lease payment with a corresponding adjustment tothe right to use assets. The revised discount rate isdetermined as the Company’s incremental borrowing rate atthe effective date of the modification;

(d) menurunkan jumlah tercatat aset hak-guna untukmerefleksikan penghentian sebagian atau sepenuhnya sewauntuk modifikasi sewa yang menurunkan ruang lingkup sewa.Perusahaan mengakui dalam laba rugi setiap laba rugi yangterkait dengan penghentian sebagian atau sepenuhnya sewatersebut; dan (e) membuat penyesuaian terkait dengan aset hak-guna untuk seluruh modifikasi sewa lainnya.

(d) decreases the carrying amount of the right to use asset toreflect the partial or full termination of the lease for leasemodifications that decrease the scope of the lease. TheCompany recognises in profit or loss any gain or loss relatingto the partial or full termination of the lease; and (e) makes acorresponding adjustment to the right to use asset for all otherlease modifications.

Biaya perolehan termasuk biaya penggantian bagian aset tetapsaat biaya tersebut terjadi, jika memenuhi kriteria pengakuan.Selanjutnya, pada saat inspeksi yang signifikan dilakukan, biayainspeksi itu diakui ke dalam nilai tercatat (“carrying amount ”) aset tetap sebagai suatu penggantian jika memenuhi kriteriapengakuan. Semua biaya perbaikan dan pemeliharaan yangtidak memenuhi kriteria pengakuan diakui dalam laporan labarugi pada saat terjadinya.

Such cost includes the cost of replacing part of the fixedassets when the cost is incurred, if the recognition criteria aremet. Likewise, when a major inspection is performed, its costis recognized in the carrying amount of the assets as areplacement if the recognition criteria are met. All other repairsand maintenance costs that do not meet the recognitioncriteria are recognized in profit or loss as incurred.

Penyusutan dihitung dengan menggunakan metode garis lurusberdasarkan taksiran masa manfaat ekonomis aset tetap,sebagai berikut:

Depreciation is computed using the straight-line method overthe estimated useful lives of the assets as follows:

Tahun/YearsBangunan 20Kendaraan bermotor 5 Motor vehiclesPeralatan kantor

Tanah dinyatakan berdasarkan harga perolehan dan tidakdiamortisasi. Biaya pengurusan legal hak atas tanah ketikatanah diperoleh pertama kali diakui sebagai bagian dari biayaperolehan aset tanah. Biaya pengurusan perpanjangan ataupembaharuan legal hak atas tanah diakui sebagai aset takberwujud dan diamortisasi sepanjang umur hukum hak atauumur ekonomis tanah, mana yang lebih pendek.

Land is stated at cost and not depreciated. Costs associatedwith the acquisition of legal right of land when the land was first acquired are recognized as part of the cost of land. Costsassociated with the extension or renewal of legal right of landare recognized as an intangible asset and amortized over thelegal life of the land rights or economic life of the land,whichever is shorter.

Komputer 5 ComputerPrasarana kantor 5 Leasehold improvements

Office equipments

Buildings

Fixed Assets

5

Aset tetap dinyatakan sebesar biaya perolehan dikurangiakumulasi penyusutan dan rugi penurunan nilai.

Fixed assets are stated at cost less accumulated depreciationand any impairment loss.

32



h. Aset tetap (lanjutan) h.

i. i.

j. j.

Fixed Assets (continued)

The residual values, estimated useful lives, and depreciationmethod are reviewed and adjusted, at year end, if necessary.

If the available data is in not sufficient to determine long-termpolicy benefit in accordance with the above requirements,insurance liabilities can be calculated using unearned premiumreserve method, and its premium income is recognized alongwith the protection proportion of policy period same as short-term insurance contract.

Kontrak asuransi adalah kontrak dimana penanggungmenerima risiko asuransi signifikan dari tertanggung. Risikoasuransi signifikan didefinisikan sebagai kemungkinanmembayar manfaat signifikan kepada tertanggung jika suatukejadian yang diasuransikan terjadi dibandingkan denganmanfaat minimum yang akan dibayarkan apabila risiko yangdiasuransikan tidak terjadi.

Insurance contract is a contract under which the insureraccepts significant risk from the insured. Significant insurancerisk is defined as the possibility of paying significantly morebenefit to the insured upon the occurrence of insured eventcompared to the minimum benefit that will be paid if the eventdoes not occur.

Kontrak asuransi jangka pendek Short-term insurance contract

Kontrak asuransi jangka pendek merupakan proteksi asuransiuntuk jangka waktu sama dengan atau kurang dari dua belas(12) bulan.

Short-term insurance contract is an insurance protection forperiod of or less than twelve (12) months.

Premi diakui sebagai pendapatan selama periode kontrakberdasarkan proporsi jumlah proteksi yang diberikan danliabilitas asuransi ditentukan melalui metode premi belummerupakan pendapatan. Aset reasuransi atas premi belummerupakan pendapatan disajikan secara terpisah.

Premium is recognized as income along with the protectionproportion of policy period and the insurance liability isdetermined through unearned premium method. Reinsuranceassets on unearned premium is presented separately.

Jika data yang tersedia tidak cukup memadai untuk digunakandalam menentukan liabilitas manfaat polis masa depan sesuaiketentuan di atas, liabilitas asuransi dapat dihitung denganmenggunakan metode premi yang belum merupakanpendapatan, dan pendapatan premi diakui sesuai denganjumlah proteksi yang diberikan seperti kontrak asuransi jangkapendek.

Kontrak asuransi Insurance contract

Nilai residu, estimasi masa manfaat dan metode penyusutandireview dan disesuaikan, setiap akhir tahun, bila diperlukan.

Aset tak berwujud Intangible assets

Aset tak berwujud termasuk perangkat lunak komputer yangdiperoleh dan dikustomisasi yang dicatat dengan menggunakanmodel biaya. Biaya aset adalah nilai kas yang dibayarkan ataunilai wajar pertimbangan lain yang diberikan sampai denganmemperoleh suatu aset pada saat perolehan atau produksi.Kapitalisasi biaya diamortisasi dengan metode garis lurusselama taksiran masa manfaat ekonomis selama 5 tahun dimana masa dari aset tidak berwujud dianggap terbatas. Asettak berwujud yang dimiliki oleh Grup terdiri dari lisensi atasperanti lunak yang memiliki taksiran masa umur manfaatekonomis 5 tahun.

Intangible assets include acquired and customized computersoftware which are accounted for under the cost model. Thecost of the asset is the amount of cash paid or the fair value ofthe other considerations given up to acquire an asset at thetime of its acquisition or production. Capitalized costs areamortized on a straight-line basis over the estimated usefullives for 5 years as the lives of these intangible assets areconsidered limited. The Group's intangible assets are licenseof software that have estimated useful lives for 5 years.

Jumlah tercatat aset tetap dihentikan pengakuannya pada saatdilepaskan atau saat tidak ada manfaat ekonomis masa depanyang diharapkan dari penggunaannya. Laba atau rugi yangtimbul dari penghentian pengakuan aset diakui dalam laporanlaba rugi pada tahun aset tersebut dihentikan pengakuannya.

The carrying value of fixed assets is derecognized upondisposal or when no future economic benefits are expectedfrom its use. Any gain or loss arising on derecognition of theassets is charged to profit or loss in the year the assets isderecognized.

33



k. Pengakuan pendapatan premi k. Premium income recognition

l. l.

Beban klaim meliputi klaim disetujui, klaim dalam prosespenyelesaian termasuk estimasi klaim yang terjadi namunbelum dilaporkan dan beban penyelesaian klaim. Klaim tersebutdiakui sebagai beban pada saat timbulnya liabilitas untukmemenuhi klaim. Bagian klaim reasuradur diakui dan dicatatsebagai pengurang beban klaim pada periode yang samadengan periode pengakuan beban klaim. Hak subrogasi diakuisebagai pengurang beban klaim pada saat realisasi.

Claims expense consist of settled claims, claims in processincluding estimated claims incurred but not yet reported andclaim settlement expenses. Claims are recognized asexpenses when incurred and liabilities arise due to claims. Theportion of claims recovered from reinsurers are recorded andrecognized as a deduction from the claims expense in thesame period as the claims expense are recognized.Subrogation rights are recognized as deduction from claimsexpense upon realization.

Total klaim dalam proses penyelesaian (estimasi klaim retensisendiri) dihitung berdasarkan estimasi kerugian retensi sendiridari klaim yang pada tanggal laporan posisi keuangan masihdalam proses penyelesaian, termasuk klaim yang sudah terjadinamun belum dilaporkan. Perubahan dalam estimasi klaimretensi sendiri diakui dalam laporan laba rugi komprehensifpada tahun terjadinya perubahan. Kenaikan (penurunan)estimasi klaim retensi sendiri adalah selisih antara klaim retensisendiri tahun berjalan dengan tahun lalu.

Claims in process (estimated own retention claims) arecomputed based on the Company’s own retention share of theclaims in process at the statement of financial position date,including claims incurred but not yet reported. The changes inestimated own retention claims are recognized in thestatement of profit or loss and other comprehensive income atthe time of change. The increase or decrease in estimatedown retention claims represents the difference between theestimated own retention claims for the current year and theprior year.

Kenaikan atau penurunan premi yang belum merupakanpendapatan adalah selisih antara saldo premi yang belummerupakan pendapatan tahun berjalan dan tahun lalu.

The increase or decrease in unearned premiums representsthe difference of the balances of unearned premiums betweenthe current and the prior year.

Premi kontrak asuransi jangka panjang diakui sebagaipendapatan pada saat jatuh tempo dari pemegang polis.

Premiums on long-term insurance contract are recognized asrevenue on due date of policy holders.

Beban klaim Claims expense

Premi dari kontrak asuransi dan reasuransi diakui sebagaipendapatan sesuai periode polis (kontrak) berdasarkan proporsijumlah proteksi yang diberikan. Premi dari polis bersama diakuisebesar pangsa premi grup. Premi hak reasuradur diakuisebagai premi asuransi selama periode kontrak asuransi secaraproporsional dengan proteksi yang diperoleh.

Premiums on insurance and reinsurance contracts arerecognized as revenue over the policy contract period inproportion to the insurance coverage provided. Premium fromcoinsurance is recognized as income based on the Group’sproportionate share in the premium. Premium due toreinsurance company is recognized as insurance premiumduring the period of insurance contract in proportion to theinsurance coverage received.

Premi bruto merupakan premi yang diperoleh dari tertanggung,broker maupun dari grup asuransi lain. Premi yang diperoleh,diakui sebagai pendapatan selama periode polis berdasarkanproporsi total pertanggungan yang diberikan dengan dasarakrual, dan dicatat berdasarkan diterbitkannya polis asuransidan/ atau debit nota untuk pendapatan premi asuransi langsungdan fakultatif. Jika periode polis lebih dari satu tahun makapendapatan preminya ditangguhkan selama masa polistersebut. Sedangkan pendapatan premi dari reasuransi diakuidan dicatat pada saat statement of accounts diterima.

Gross premiums represent premium received from directinsured, insurance broker, and ceding group. Premiumsreceived are recognized as income on an accrual basis overthe period of contract in proportion to the amount of insuranceprotection provided and recorded upon the issuance of policyand/or debit note for direct and facultative insurance premiumincome. If the period is more than one year, the premiumincome is deferred over the insured period. While reinsurancepremiums are recognized upon the acceptance of thestatement of accounts.

Premi belum merupakan pendapatan dari kontrak asuransijangka pendek ditentukan untuk masing-masing jenispertanggungan dihitung berdasarkan premi neto sesuai denganproporsi total hari sampai dengan polis berakhir (proporsionalharian).

Unearned premiums on short-term insurance contractdetermined for each kind of business are calculated based onnet premium in proportion to the number of days until thepolicy expires (proportional daily).

34



m. Komisi m. Commission

n. Liabilitas kontrak asuransi n. Insurance contract liabilities

o. Reasuransi o. Reinsurance

a. a.

b. b.

reinsurance assets and the related insurance liabilities; or

income or expense from reinsurance contract and expenseor income from the related insurance contract.

Komisi diberikan pada pialang asuransi, agen dan grupasuransi lain sehubungan dengan penutupan pertanggungandicatat sebagai beban komisi. Sedangkan komisi yang diperoleh dari transaksi reasuransi dicatat sebagai pendapatan komisi,dan diakui sebagai pendapatan dalam laporan laba rugikomprehensif tahun berjalan.

Commissions due to insurance brokers, agents and otherinsurance group relating to insurance coverage are recordedas commission expense when incurred. Whereas commissionobtained from reinsurance transactions are recorded ascommission income and recognized as income in currentyear's profit or loss.

Liabilitas kontrak asuransi mencakup klaim dalam proses, premibelum merupakan pendapatan dan liabilitas manfaat polis masadepan. Pada akhir periode pelaporan Grup menilai apakahliabilitias asuransi yang diakui telah mencukupi, denganmenggunakan estimasi kini atas arus kas masa depanberdasarkan kontrak asuransi. Jika penilaian tersebutmenunjukkan bahwa nilai tercatat liabilitas asuransi dikurangidengan biaya akuisisi tangguhan terkait tidak mencukupidibandingkan dengan estimasi arus kas masa depan, makaseluruh kekurangan tersebut diakui dalam laba rugi.

Insurance contract liabilities include the outstanding claimsprovision, the provision for unearned premium and liability forfuture benefits. At the end of reporting period, the Groupassesses whether recognized insurance liability is adequate,using current estimates of future cash flows under the contractof insurance. If the assessment shows that the carryingamount of insurance liabilities net of related deferredacquisition costs is insufficient compared to the estimatedfuture cash flows, the entire deficiency is recognized in profit orloss.

aset reasuransi dengan liabilitas asuransi terkait; atau

pendapatan atau beban dari kontrak reasuransi dan bebanatau pendapatan dari kontrak asuransi terkait.

Beban premi reasuransi dicatat sebagai pengurang daripendapatan premi bruto. Apabila reasuradur gagal memenuhikewajibannya kepada Grup, Grup tetap memiliki kewajibankepada pemegang polis atas kerugian yang telahdireasuransikan.

Reinsurance premium cost is recorded as a reduction of grosspremium income. The Group remains liable to policy holdersfor reinsured losses in the event the reinsurers are unable tomeet their obligations.

PSAK 62 tidak memperkenankan saling hapus antara: SFAS 62 does not allow offset between:

Untuk mengurangi risiko penutupan polis asuransi, Grupmereasuransikan sebagian risiko polis yang ditutupnya keperusahaan reasuradur dan tidak mengakui ganti rugi atasklaim asuransi yang menjadi tanggungan perusahaanreasuradur. Jika perusahaan reasuradur tidak dapat memenuhiliabilitasnya berdasarkan perjanjian reasuransi, maka Grupmemiliki liabilitas kontinjensi atas seluruh klaim tersebut.Perjanjian reasuransi yang dimiliki Grup meliputi perjanjianreasuransi treaty proporsional dan non proporsional (excess ofloss ), maupun perjanjian reasuransi fakultatif.

To reduce its underwriting risk, the Group reinsures a part ofits total risks to reinsurance group, and treats expectedrecoveries on insurance claims from reinsurers which theGroup is not liable. To the extent that the reinsurancecompanies are unable to meet their obligations under thesereinsurance agreements, the Group has a contingent liabilityfor all such insurance claims loss. The Group has proportionaland nonproportional (excess of loss) reinsurance treatyagreements, and facultative reinsurance agreements.

Total premi dibayar atau bagian premi atas transaksi reasuransiprospektif diakui sebagai premi reasuransi sesuai periodekontrak reasuransi secara proporsional dengan proteksi yangdiberikan. Pembayaran atau kewajiban atas transaksireasuransi retrospektif diakui sebagai piutang reasuransisebesar kewajiban yang dibukukan sehubungan kontrakreasuransi tersebut.

The premium paid to the reinsurer or the insurer’s share in thepremium on prospective reinsurance transaction is recognizedas reinsurance premium over the reinsurance contract periodin proportion to the insurance coverage provided. A paymentor obligation for retrospective reinsurance transaction isrecognized as reinsurance receivable from the reinsurer in theamount equivalent to the payment made or recorded liability inrelation to the reinsurance contract.

35



o. Reasuransi (lanjutan) o. Reinsurance (continued)

p. p. Liability adequacy test

q. Hasil investasi q. Income from investment

r. r.

s. s. Income taxes

Beban usaha dan beban lain-lain diakui pada saat terjadinya(dasar akrual).

Operating and other expenses are recognized when incurred(accrual basis).

Pajak penghasilan

Grup menerapkan PSAK 46 (Revisi 2014), ”Pajak Penghasilan”,yang memberikan tambahan pengaturan untuk aset danliabilitas pajak tangguhan yang berasal dari aset yang tidakdisusutkan yang diukur dengan menggunakan model revaluasi,dan yang berasal dari properti investasi yang diukur denganmenggunakan model nilai wajar. PSAK Revisi ini jugamenghapuskan pengaturan mengenai pajak final.

The Group adopted SFAS 46 (Revised 2014), “Income Taxes”,which provides additional provision for deferred tax asset ordeferred tax liability arising from a non-depreciable assetmeasured using the revaluation model, and those arising frominvestment property that is measured using the fair valuemodel. This revised SFAS also deleted the regulationregarding final taxes.

Keuntungan atau kerugian dari penjualan saham diakui padasaat transaksinya.

Gain or losses on sale of securities are recognized at the timeof the transaction.

Beban usaha Operating expenses

Penghasilan dividen diakui bila hak pemegang saham untukmenerima pembayaran ditetapkan.

Dividend income is recognized when the stockholders’ right toreceive payment is established.

Jika perbandingan tersebut menunjukkan bahwa nilai tercatatatas liabilitas asuransi (dikurangi dengan biaya akuisisitangguhan dan aset tak berwujud terkait) lebih rendahdibandingkan dengan estimasi nilai kini atas arus kas masadepan, maka kekurangan tersebut diakui dalam laba rugi.

If the valuation indicates that the carrying value of insuranceliabilities (net off deferred acquisition costs and relatedintangible assets) is lower than the estimated present value offuture cash outflows, then such deficiency is recognized in theprofit and loss.

Hasil investasi bunga dari deposito berjangka dan obligasidiakui atas dasar proporsi waktu, berdasarkan nilai pokok dantingkat bunga yang berlaku.

Interest income from investment in time deposits and bonds isrecognized on a time proportion basis, based on principaloutstanding and prevailing interest rates.

Aset reasuransi adalah hak kontraktual neto cedant dalamsuatu kontrak reasuransi. Nilai aset reasuransi atas liabilitasmanfaat polis masa depan, premi yang belum merupakanpendapatan dan estimasi liabilitas klaim diestimasi secarakonsisten dengan pendekatan yang digunakan dalammenentukan masing-masing liabilitas manfaat polis masadepan, premi yang belum merupakan pendapatan dan estimasiliabilitas klaim, berdasarkan syarat dan ketentuan dari kontrakasuransi.

Reinsurance asset is the cedant's net contractual rights underan reinsurance contract. The amount of reinsurance asset ofthe liability for future policy benefits, unearned premiums andestimated claims liability are estimated in a manner consistentwith the approach used in determining their liability for futurepolicy benefits, unearned premiums and claims liabilityestimates, based on the terms and conditions of the insurancecontract.

Tes kecukupan liabilitas

Pada setiap akhir periode pelaporan, Grup menilai apakahpremi yang belum merupakan pendapatan dan estimasi klaimyang diakui dalam laporan posisi keuangan telah mencukupi,dengan membandingkan jumlah tercatat tersebut denganestimasi arus kas masa depan sesuai dengan kontrak asuransidan diukur dengan menggunakan tingkat suku bunga masa kini.

At each end of reporting period, the Group evaluates whetherthe unearned premium reserve and estimated claims asrecognized in the statements of financial position have beenadequately recognized by comparing the carrying amount withthe estimated future cash outflows in accordance with theinsurance contracts and measured using current marketdiscount rate.

36



s. Pajak penghasilan (lanjutan) s. Income taxes (continued)

Pajak Kini Current Tax

Pajak Tangguhan Deferred Tax

Jumlah tambahan pokok dan denda pajak yang ditetapkandengan Surat Ketetapan Pajak (“SKP”) diakui sebagaipendapatan atau beban dalam laporan laba rugi danpenghasilan komprehensif lain konsolidasian tahun berjalan,kecuali jika diajukan upaya penyelesaian selanjutnya. Jumlahtambahan pokok pajak dan denda yang ditetapkan dengan SKPditangguhkan pembebanannya sepanjang memenuhi kriteriapengakuan aset.

The amounts of additional tax principal and penalty imposedthrough a tax assessment letter (“SKP”) are recognized asincome or expense in the current year in the consolidatedstatement of profit or loss and other comprehensive income,unless further settlement is submitted. The amounts of taxprincipal and penalty imposed through a SKP are deferred aslong as they meet the asset recognition criteria.

Deferred tax is provided using the liability method ontemporary differences at the reporting date between the taxbases of assets and liabilities and their carrying amounts forfinancial reporting purposes. Deferred tax liabilities arerecognized for all taxable temporary differences with certainexceptions. Deferred tax assets are recognized for deductibletemporary differences and tax losses carry-forward to theextent that it is probable that taxable income will be availablein future years against which the deductible temporarydifferences and tax losses carryforward can be utilized.

Beban pajak terdiri dari pajak kini dan tangguhan. Beban pajakdiakui dalam laporan laba rugi kecuali untuk transaksi yangberhubungan dengan transaksi diakui langsung ke ekuitas,dalam hal ini diakui sebagai pendapatan komprehensif lainnya.

Income tax expense comprises current and deferred tax.Income tax expense is recognized in profit or loss except tothe extent that it relates to items recognized directly in equity,in which case it is recognized in other comprehensive income.

Pajak tangguhan diukur dengan metode liabilitas atas bedawaktu pada tanggal pelaporan antara dasar pengenaan pajakuntuk aset dan liabilitas dengan nilai tercatatnya untuk tujuanpelaporan keuangan. Liabilitas pajak tangguhan diakui untuksemua perbedaan temporer kena pajak dengan beberapapengecualian. Aset pajak tangguhan diakui untuk perbedaantemporer yang boleh dikurangkan dan rugi fiskal apabilaterdapat kemungkinan besar bahwa jumlah laba kena pajakpada masa mendatang akan memadai untuk mengkompensasiperbedaan temporer dan rugi fiskal.

Bunga dan denda untuk kekurangan atau kelebihanpembayaran pajak penghasilan, jika ada, dicatat sebagai bagiandari “Beban Pajak” dalam laporan laba rugi dan penghasilankomprehensif lain konsolidasian.

Interest and penalties for the underpayment or overpayment ofincome tax, if any, are to be presented as part of “Income TaxExpense” in the consolidated statement of profit or loss andother comprehensive income.

The adoption of this new revised SFAS has no significantimpact on the consolidated financial statements.

Penerapan PSAK revisi baru tersebut tidak memberikanpengaruh yang signifikan terhadap laporan keuangankonsolidasian.

Beban pajak kini dihitung dengan menggunakan tarif pajak yangberlaku pada tanggal pelaporan keuangan, dan ditetapkanberdasarkan taksiran laba kena pajak tahun berjalan.Manajemen secara periodik mengevaluasi posisi yangdilaporkan di Surat Pemberitahuan Tahunan (SPT) sehubungandengan situasi di mana aturan pajak yang berlakumembutuhkan interpretasi. Jika perlu, manajemen menentukanprovisi berdasarkan jumlah yang diharapkan akan dibayarkepada otoritas pajak.

Current tax expense is calculated using tax rates that havebeen enacted or substantively enacted at end of the reportingperiod, and is provided based on the estimated taxable incomefor the year. Management periodically evaluates positionstaken in tax returns with respect to situations in whichapplicable tax regulation is subject to interpretation. Itestablishes provision where appropriate on the basis ofamounts expected to be paid to the tax authorities

37



s. Pajak penghasilan (lanjutan) s. Income taxes (continued)

Pajak Tangguhan (lanjutan) Deferred Tax (continued)

t. Imbalan kerja t. Employee benefits

Deferred tax assets and liabilities are measured at the taxrates that are expected to apply to the period when the assetis realized or the liability is settled, based on tax laws that havebeen enacted or substantively enacted at the end of reportingperiod. The related tax effects of the provisions for and/orreversals of all temporary differences during the year,including the effect of change in tax rates, are credited orcharged to current period operations, except to the extent thatthey relate to items previously charged or credited to equity.

Beban pensiun berdasarkan program dana pensiun manfaatpasti Grup ditentukan melalui perhitungan aktuaria secaraperiodic dengan menggunakan metode projected-unit creditdan menerapkan asumsi atas tingkat diskonto, hasil yangdiharapkan atas aset dana pensiun dan tingkat kenaikanmanfaat pasti pensiun tahunan.

The carrying amount of a deferred tax asset is reviewed ateach reporting date and reduced to the extent that it is nolonger probable that sufficient taxable income will be availableto allow all or part of the benefit of that deferred tax asset to beutilized. Unrecognized deferred tax assets are reassessed ateach reporting date and are recognized to the extent that it hasbecome probable that future taxable income will allow thedeferred tax assets to be recovered.

Aset dan liabilitas pajak tangguhan dihitung berdasarkan tarifyang akan dikenakan pada periode saat aset direalisasikanatau liabilitas tersebut diselesaikan, berdasarkan undang-undang pajak yang berlaku atau berlaku secara substantif padaakhir periode laporan keuangan. Pengaruh pajak terkait denganpenyisihan dan/atau pemulihan semua perbedaan temporerselama tahun berjalan, termasuk pengaruh perubahan tarifpajak, untuk transaksi-transaksi yang sebelumnya telahlangsung dibebankan atau dikreditkan ke ekuitas.

Beban bunga dan pengembalian aset dana pensiun yangdiharapkan sebagaimana digunakan dalam PSAK 24 (Revisi2016) versi sebelumnya digantikan dengan beban bunga - neto,yang dihitung dengan menggunakan tingkat diskonto untukmengukur kewajiban manfaat pasti – neto atau aset pada saatawal dari tiap periode pelaporan tahunan.

The interest cost and expected return on plan assets used inthe previous version of SFAS 24 (Revised 2016) are replacedwith a net interest amount, which is calculated by applying thediscount rate to the net defined benefit liability or asset at thestart of each annual reporting period.

Aset dan liabilitas pajak tangguhan disajikan secara salinghapus saat hak yang dapat dipaksakan secara hukum adauntuk saling hapus aset pajak kini dan liabilitas pajak kini, atauaset pajak tangguhan dan liabilitas pajak tangguhan berkaitandengan entitas kena pajak yang sama, atau Grup bermaksuduntuk menyelesaikan aset dan liabilitas pajak kini dengan dasarneto.

Deferred tax assets and liabilities are offset when a legallyenforceable right exists to offset current tax assets againstcurrent tax liabilities, or the deferred tax assets and thedeferred tax liabilities relate to the same taxable entity, or theGroup intends to settle its current assets and liabilities on a netbasis.

Grup mengakui kewajiban imbalan kerja yang tidak didanaisesuai dengan Undang-undang Ketenagakerjaan No. 13/2003,tanggal 25 Maret 2003. Grup menerapkan PSAK 24 (Revisi2016), “Imbalan Kerja”. PSAK revisi ini, antara lain, menghapusmekanisme koridor, mengatur pengakuan biaya jasa lalu sertamengatur beberapa pengungkapan tambahan.

Jumlah tercatat aset pajak tangguhan dikaji ulang pada akhirperiode pelaporan, dan mengurangi jumlah tercatat jikakemungkinan besar laba kena pajak tidak lagi tersedia dalamjumlah yang memadai untuk mengkompensasi sebagian atauseluruh aset pajak tangguhan. Aset pajak tangguhan yangbelum diakui dinilai kembali pada setiap akhir periode pelaporandan diakui sepanjang kemungkinan besar laba kena pajakmendatang akan memungkinkan aset pajak tangguhan tersediauntuk dipulihkan.

The Group recognized unfunded employee benefits liability inaccordance with Labor Law No. 13/2003 dated March 25,2003 (the “Labor Law”). The Group adopted SFAS 24(Revised 2016), “Employee Benefits”. The revised SFAS,among others, removes the corridor mechanism, stipulatesthat all past services costs are recognized and requires certainadditional disclosures.

Pension costs under the Group’s defined benefit pension plansare determined by periodic actuarial calculation using theprojected-unit credit method and applying the assumptions ondiscount rate, expected return on plan assets and annual rateof increase in compensation.

38



t. Imbalan kerja (lanjutan) t. Employee benefits (continued)

u. Transaksi dengan pihak berelasi u. Related parties transaction

a.

i. i.

ii.

b.

All past service costs are recognized at the earlier of when theamendment or curtailment occurs and when the relatedrestructuring or termination costs are recognized. As a result,unvested past service costs can no longer be deferred andrecognized over the future vesting period.

All remeasurements, comprising of actuarial gains and losses,and the return of plan assets (excluding net interest) arerecognized immediately through other comprehensive incomein order for the net pension asset or liability recognized in theconsolidated statement of financial position to reflect the fullvalue of the plan deficit and surplus. Remeasurements are notreclassified to profit or loss in subsequent periods.

iii.

A party is considered to be related to the Group if:Orang atau anggota keluarga terdekat mempunyai relasidengan Grup jika orang tersebut:

v.

Suatu pihak dianggap berelasi dengan Grup jika:

Seluruh pengukuran kembali, terdiri atas keuntungan dankerugian aktuarial dan hasil atas aset dana pensiun (tidaktermasuk bunga bersih) diakui langsung melalui penghasilankomprehensif lainnya dengan tujuan agar aset atau kewajibanpensiun neto diakui dalam laporan posisi keuangankonsolidasian untuk mencerminkan nilai penuh dari defisit dansurplus dana pensiun. Pengukuran kembali tidakmengreklasifikasi laba atau rugi pada periode berikutnya.

Seluruh biaya jasa lalu diakui pada saat yang lebih dulu antaraketika amandemen/kurtailmen terjadi atau ketika biayarestrukturisasi atau pemutusan hubungan kerja diakui. Sebagaiakibatnya, biaya jasa lalu yang belum vested tidak lagi dapatditangguhkan dan diakui selama periode vesting masa depan.

A person or a close member of the person’s family isrelated to the Group if that person:

has control or joint control over the Group;

ii. Suatu entitas adalah entitas asosiasi atau venturabersama dari entitas lain (atau entitas asosiasi atauentitas ventura bersama yang merupakan anggota suatukelompok usaha, yang mana entitas lain tersebut adalahanggotanya).

memiliki pengaruh signifikan atas Grup; atau has significant influence over the Group; or

personil manajemen kunci Grup atau entitas indukPerusahaan.

a.

b.

iii.

iii. Kedua entitas tersebut adalah ventura bersama dari pihakketiga yang sama.

Suatu entitas berelasi dengan Grup jika memenuhi salahsatu hal berikut:

An entity is related to the Group if any of the followingconditions applies:

The entity is a post-employment benefit plan for thebenefit of employees of either the Group or an entityrelated to the Group. If the reporting entity is itself such aplan, the sponsoring entity are also related to the Group.

v.

vii. Orang yang diidentifikasi dalam huruf (a) (i) memilikipengaruh signifikan atas entitas atau personil manajemenkunci entitas (atau entitas induk dari entitas).

vii. A person identified in (a)(i) has significant influence overthe entity or is a member of the key managementpersonnel of the entity (or of a parent of the entity).

vi.

ii. One entity is an associate or joint venture of the otherentity (or an associate or joint venture of a member of agroup of which the other entity is a member).

vi. The entity is controlled or jointly controlled by a personidentified in (a).

memiliki pengendalian atau pengendalian bersama atasGrup;

Entitas dan Grup adalah anggota kelompok usaha yangsama (artinya entitas induk, entitas anak, dan entitas anak berikutnya terkait dengan entitas lain).

i.

ii.

is a member of the key management personnel of theGroup or of a parent of the Company.

Entitas tersebut adalah suatu program imbalan pascakerja untuk imbalan kerja dari salah satu Grup atauentitas yang terkait dengan Grup. Jika Grup adalahentitas yang menyelenggarakan program tersebut, makaentitas sponsor juga berelasi dengan Grup.

iii. Both entities are joint ventures of the same third party.

iv. Suatu entitas adalah ventura bersama dari entitas ketigadan entitas yang lain adalah entitas asosiasi dari entitasketiga.

iv. One entity is a joint venture of a third entity and the otherentity is an associate of the third entity.

The entity and the Group are members of the samegroup (which means that each parent, subsidiary andfellow subsidiary is related to the others).

i.

Entitas yang dikendalikan atau dikendalikan bersama olehorang yang diidentifikasi dalam huruf (a).

39



u. Transaksi dengan pihak berelasi (lanjutan) u. Related parties transaction (continued)

v. Laba per saham v. Earning per share

x. Segmen Operasi x. Operating Segment

i. i.

w. w.

All transactions with related parties, whether or not made atsimilar terms and conditions as those done with third parties,are disclosed in the consolidated financial statements.

Kerugian penurunan nilai dari operasi yang dilanjutkan, jika ada,diakui pada laporan laba rugi dan penghasilan komprehensiflain konsolidasian sesuai dengan kategori beban yangkonsisten dengan fungsi dari aset yang diturunkan nilainya.

Laba per lembar saham dilusian dihitung setelah melakukanpenyesuaian yang diperlukan terhadap jumlah rata-ratatertimbang saham biasa yang beredar dengan asumsi bahwasemua opsi saham dilaksanakan pada saat penerbitan.

Diluted earnings per share is computed after making thenecessary adjustments to the weighted average numberof common shares outstanding, assuming that all stockoptions held are exercised at the time of publication.

An impairment loss is reversed if there has been a change inthe estimate used to determine the recoverable amount of anon-financial asset. An impairment loss is only reversed to theextent that the non-financial asset’s carrying amount does notexceed the recoverable amount, nor exceed the carryingamount that would have been determined, net of depreciationor amortization, if no impairment loss of nonfinancial assetshas been recognized. Reversal of an impairment loss isrecognized in the profit or loss.

Impairment losses of continuing operations, if any, arerecognized in the consolidated statement of profit or loss andother comprehensive income under expense categories thatare consistent with the functions of the impaired assets.

The adoption of SFAS 48 (Revised 2014) “Impairment ofAssets” has no significant impact on the financial reporting anddisclosures in the consolidated financial statements.

Laba per saham dasar dihitung dengan membagi laba netoyang dapat diatribusikan kepada pemilik entitas induk dengantotal rata-rata tertimbang saham yang beredar pada tahun yangbersangkutan.

Earnings per share are calculated by dividing net income forthe year attributable to ordinary equity holders of the parent bythe weighted average number of ordinary shares outstandingduring the year.

Penurunan nilai aset non-keuangan Impairment of non-financial assets

Grup menerapkan PSAK 48 (Revisi 2014) “Penurunan NilaiAset”. Perubahan PSAK 48 “Penurunan nilai aset” terhadappengungkapan atas nilai terpulihkan untuk aset non-finansial.Perubahan ini menghilangkan pengungkapan tertentu untuknilai terpulihkan atas unit penghasil kas yang disyaratkan olehPSAK 48 melalui penerbitan PSAK 68.

The Group adopted SFAS 48 (Revised 2014) “Impairment ofAssets”. Amendments to SFAS 48 "Impairment of Assets” ison the recoverable amount disclosures for non-financialassets. This amendment removed certain disclosures of therecoverable amount of CGUs which had been included inSFAS 48 by the issue of SFAS 68.

Penerapan PSAK 48 (Revisi 2014) “Penurunan Nilai Aset”, tidak memiliki dampak yang signifikan pada laporan keuangan danpengungkapan dalam laporan keuangan konsolidasian.

Segmen operasi adalah suatu komponen dari Grup: An operating segment is a component of the Group:

Yang terlibat dalam aktivitas bisnis yang manamemperoleh pendapatan dan menimbulkan beban(termasuk pendapatan dan beban terkait dengantransaksi dengan komponen lain dari entitas yang sama);

That engages in business activities from which it mayearn revenues and incur expenses (including revenueand expenses related to the transactions with differentcomponents within the same entity);

Rugi penurunan nilai akan dipulihkan jika terdapat perubahandalam taksiran yang digunakan untuk menentukan nilai asetnon-keuangan yang dapat dipulihkan (recoverable amount ). Rugi penurunan nilai hanya akan dipulihkan sampai sebatasnilai tercatat aset non-keuangan tidak boleh melebihi nilaiterpulihkannya maupun nilai tercatat yang seharusnya diakui,setelah dikurangi depresiasi atau amortisasi, jika tidak adapengakuan rugi penurunan nilai aset non-keuangan.Pembalikan rugi penurunan nilai diakui dalam laba rugi.

Seluruh transaksi yang dilakukan dengan pihak-pihak berelasi,baik dilakukan dengan kondisi dan persyaratan dengan pihakketiga maupun tidak, diungkapkan pada laporan keuangankonsolidasian.

40



x. Segmen Operasi (lanjutan) x. Operating Segment (continued)

ii. ii.

iii. iii.

y. y.

1 (satu) Poundsterling Inggris 1(one) Great Britain Poundsterling1 (satu) Euro 1(one) Euro1 (satu) Franc Swiss 1(one) Swiss Franc1 (satu) Dolar AS 1(one) US Dollar1 (satu) Dolar Australia 1(one) Australian Dollar1 (satu) Dolar Singapura 1(one) Singapore Dollar1 (satu) Ringgit Malaysia 1 (one) Malaysian Ringgit1 (satu) Kronor Swedia 1 (one) Swedish Kronor1 (satu) Yen Jepang 1(one) Japan Yen

1(one) Thailand Baht

z. Biaya emisi penerbitan saham z. Shares issuance costs

10.771

136 470

128

December 31, 2020

3.492 1.725 1.488

3.397 10.321

Hasil operasinya dikaji ulang secara reguler olehpengambil keputusan operasional untuk membuatkeputusan tentang sumber daya yang dialokasikan padasegmen tersebut dan menilai kinerjanya; dan

466 1 (satu) Baht Thailand

Biaya-biaya emisi efek yang terjadi sehubungan denganpenawaran saham kepada masyarakat (termasuk penerbitanhak memesan efek terlebih dahulu) dikurangkan langsung darihasil emisi dan disajikan sebagai pengurang pada akun“Tambahan Modal Disetor - Bersih”, sebagai bagian dariEkuitas pada laporan posisi keuangan konsolidasian.

Costs related to the public offering (including rights issue) arededucted from the proceeds and presented as a deduction of“Additional Paid-In-Capital - Net” account, under Equity in theconsolidated statements financial position.

For which discrete financial information is available.

Reviewed by the Group's chief operating decision makerto make decisions about resources to be allocated to thesegment and to assess its performance; and

Tersedia informasi keuangan yang dapat dipisahkan.

13.901

Pada akhir periode laporan, pos aset dan liabilitas dalam matauang asing dilaporkan ke dalam mata uang Rupiah denganmempergunakan kurs tengah Bank Indonesia pada tanggaltersebut, yaitu sebagai berikut:

At the end of the reporting period, assets and liabilities inforeign currencies are translated into Rupiah using the middleexchanges rates quoted by Bank Indonesia at such dates,which are as follows:

Transaksi dan saldo dalam mata uang asing Foreign currencies transaction and balance

Pembukuan Grup diselenggarakan dalam mata uang Rupiah.Transaksi dalam mata uang asing dijabarkan ke dalam Rupiahdengan kurs yang berlaku pada tanggal transaksi. Pada akhirperiode pelaporan, aset dan liabilitas moneter dalam mata uangasing dijabarkan ke dalam Rupiah dengan menggunakan kurstengah yang ditetapkan oleh Bank Indonesia pada tanggaltersebut. Laba atau rugi dari selisih kurs mata uang asing danpenjabaran aset dan liabilitas moneter dalam mata uang Rupiahdiakui dalam laba rugi konsolidasi periode berjalan, kecualiuntuk laba atau rugi pertukaran yang timbul dari penjabaranlaporan keuangan operasi asing ke mata uang penyajian Grup,yang diakui langsung dalam pendapatan komprehensif lainnya.

14.105

10.644

December 31, 2019

15.982

18.250 15.589 14.366

9.739

17.330 19.085

The accounting records of the Group are maintained inRupiah. Transactions denominated in foreign currencies aretranslated into Rupiah at the exchange rates prevailing at thedates of the transactions. At the end of the reporting period,monetary assets and liabilities denominated in foreigncurrencies are translated into Rupiah using the middle rates ofexchange quoted by Bank Indonesia at such dates. Exchangegains and losses arising on foreign currency transactions andon the translation of foreign currency monetary assets andliabilities into Rupiah are recognized in the current periodconsolidated profit or loss, except for the exchange gains andlosses arising on the translation of the foreign operation’sfinancial statements into the presentation currency of theGroup, which are recognized directly in other comprehensiveincome.

31 Desember 2019/31 Desember 2020/

41


3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN 3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONSASUMSI

Pertimbangan Judgments

Klasifikasi instrumen keuangan Classification of financial instruments

Penyisihan atas penurunan nilai piutang usaha Allowance for impairment of receivables

Penentuan mata uang fungsional Determination of functional currency

Grup mengevaluasi akun tertentu jika terdapat informasi bahwanasabah yang bersangkutan tidak dapat memenuhi liabilitaskeuangannya. Dalam hal tersebut, Grup mempertimbangkan,berdasarkan fakta dan situasi yang tersedia, namun tidak terbataspada, jangka waktu hubungan dengan pelanggan dan status kreditdari nasabah berdasarkan catatan kredit dari pihak ketiga danfaktor pasar yang telah diketahui, untuk mencatat provisi yangspesifik atas jumlah piutang pelanggan guna mengurangi nilaipiutang yang diharapkan dapat diterima oleh Grup. Provisi yangspesifik ini dievaluasi kembali dan disesuaikan jika tambahaninformasi yang diterima mempengaruhi nilai cadangan penurunannilai piutang.

The Group evaluates specific accounts where it has informationthat certain customers are unable to meet their financialobligations. In these cases, the Group uses judgment, based onthe best available facts and circumstances, including but notlimited to, the length of its relationship with the customer and thecustomer’s current credit status based on third party credit reportsand known market factors, to record specific provisions forcustomers against amounts due to reduce its receivable amountsthat the Group expects to collect. These specific provisions arereevaluated and adjusted as additional information receivedaffects the amounts of allowance for impairment of receivables.

Penjelasan lebih rinci diungkapkan dalam Catatan 2d, 5, 6 dan 7. Further details are disclosed in Notes 2d, 5, 6, and 7.

Mata uang fungsional Grup adalah mata uang dari lingkunganekonomi primer dimana entitas beroperasi. Mata uang tersebutadalah mata uang yang mempengaruhi pendapatan dan bebanpokok pendapatan. Berdasarkan penilaian manajemen Grup matauang fungsional adalah Rupiah.

The functional currency of the Group is the currency of theprimary economic environment in which each entity operates. It isthe currency that mainly influences the revenue and cost ofrevenue. Based on the Group's management assessment, theGroup's functional currency is in Rupiah.

Penyusunan laporan keuangan Grup mengharuskan manajemenuntuk membuat pertimbangan, estimasi dan asumsi yangmempengaruhi nilai yang dilaporkan dan pengungkapan yangterkait, pada akhir periode pelaporan. Ketidakpastian mengenaiasumsi dan estimasi tersebut dapat mengakibatkan penyesuaianmaterial terhadap nilai tercatat pada aset dan liabilitas dalamperiode pelaporan berikutnya.

The preparation of the Group’s financial statements requiresmanagement to make judgments, estimates and assumptions thataffect the reported amounts herein, and the related disclosures, atthe end of the reporting period. However, uncertainty about theseassumptions and estimates could result in outcomes that requirea material adjustment to the carrying amount of the asset andliability affected in future periods.

Dalam proses penerapan kebijakan akuntansi Grup, manajementelah membuat keputusan berikut, yang memiliki pengaruh palingsignifikan terhadap nilai yang diakui dalam laporan keuangan:

In the process of applying the Group’s accounting policies,management has made the following judgments, which have themost significant effect on the amounts recognized in financialstatements:

Grup menetapkan klasifikasi atas aset dan liabilitas tertentusebagai aset keuangan dan liabilitas keuangan denganmempertimbangkan bila definisi yang ditetapkan PSAK 55 (Revisi2014) dipenuhi. Dengan demikian, aset keuangan dan liabilitaskeuangan diakui sesuai dengan kebijakan akuntansi grup sepertidiungkapkan pada Catatan 2d.

The Group determines the classifications of certain assets andliabilities as financial assets and financial liabilities by judging ifthey meet the definition set forth in SFAS 55 (Revised 2014).Accordingly, the financial assets and financial liabilities areaccounted for in accordance with the Group’s accounting policiesdisclosed in Note 2d.

42


3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN 3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONSASUMSI (Lanjutan) (Continued)

Estimasi dan asumsi Estimates and assumptions

Penilaian instrumen keuangan Valuation of financial assets

Penjelasan lebih rinci diungkapkan dalam Catatan 2d dan 40. Further details are disclosed in Notes 2d and 40.

Imbalan pasca kerja Employee benefits

Penyusutan aset tetap Depreciation of fixed assets

Penentuan utang dan biaya liabilitas imbalan kerja Grupbergantung pada pemilihan asumsi yang digunakan oleh aktuarisindependen dalam menghitung jumlah-jumlah tersebut. Asumsitersebut termasuk antara lain, tingkat diskonto, tingkat kenaikangaji tahunan, tingkat pengunduran diri karyawan tahunan, tingkatkecacatan, umur pensiun dan tingkat kematian. Hasil aktual yangberbeda dari asumsi yang ditetapkan Grup diakui segera dalamlaporan laba rugi konsolidasian dan pada saat terjadi. SementaraGrup berkeyakinan bahwa asumsi tersebut adalah wajar dansesuai, perbedaan signifikan pada hasil aktual atau perubahansignifikan dalam asumsi yang ditetapkan Grup dapatmempengaruhi secara material liabilitas diestimasi atas imbalankerja dan beban imbalan kerja neto. Penjelasan lebih rincidiungkapkan dalam Catatan 2t dan 20.

The determination of the Groups obligations and cost foremployee benefits liability is dependent on its selection of certainassumptions used by the independent actuaries in calculatingsuch amounts. Those assumptions include among others,discount rates, future annual salary increase, annual employeeturn-over rate, disability rate, retirement age and mortality rate.Actual results that differ from the Group’s assumptions arerecognized immediately in the profit or loss as and when theyoccurred. While the Group believes that its assumptions arereasonable and appropriate, significant differences in the Group’sactual experiences or significant changes in the group’sassumptions may materially affect its estimated liability foremployee benefits and net employee benefits expense. Furtherdetails are disclosed in Notes 2t and 20.

Biaya perolehan aset tetap disusutkan dengan menggunakanmetode garis lurus berdasarkan taksiran masa manfaatekonomisnya. Manajemen mengestimasi masa manfaat ekonomisaset tetap antara 5 sampai dengan 20 tahun. Ini adalah umursecara umum diharapkan dalam industri dimana Grupmenjalankan bisnisnya. Perubahan tingkat pemakaian danperkembangan teknologi dapat mempengaruhi masa manfaatekonomis dan nilai sisa aset, dan karenanya biaya penyusutanmasa depan mungkin direvisi.

The costs of fixed assets are depreciated on a straight-line basisover their estimated useful lives. Management properly estimatesthe useful lives of these fixed assets to be within 5 to 20 years.These are common life expectations applied in the industry wherethe Group conducts its business. Changes in the expected levelof usage and technological development could impact theeconomic useful lives and the residual value of these assets, andtherefore future depreciation charges could be revised.

Asumsi utama masa depan dan ketidakpastian sumber estimasiutama yang lain pada tanggal pelaporan yang memiliki risikosignifikan bagi penyesuaian yang material terhadap nilai tercatataset dan liabilitas untuk tahun berikutnya diungkapkan di bawahini. Grup mendasarkan asumsi dan estimasi pada parameter yangtersedia pada saat laporan keuangan disusun. Asumsi dan situasimengenai perkembangan masa depan mungkin berubah akibatperubahan pasar atau situasi di luar kendali Grup. Perubahantersebut dicerminkan dalam asumsi terkait pada saat terjadinya.

The key assumptions concerning the future and other key sourcesof estimation uncertainty at the reporting date, that have asignificant risk of causing a material adjustment to the carryingamounts of assets and liabilities within the next financial year, aredescribed below. The Group based its assumptions and estimateson parameters available when the financial statements wereprepared. Existing circumstances and assumptions about futuredevelopments may change due to market changes orcircumstances arising beyond the control of the Group. Suchchanges are reflected in the assumptions when they occur.

Grup mencatat aset tertentu pada nilai wajar, yang mengharuskanpenggunaan estimasi akuntansi. Sementara komponen signifikanatas pengukuran nilai wajar ditentukan menggunakan bukti obyektif yang dapat diverifikasi, nilai perubahan nilai wajar dapat berbedabila Grup menggunakan metodologi penilaian yang berbeda.Perubahan nilai wajar aset tersebut dapat mempengaruhi secaralangsung laba atau rugi Grup.

The Group carries certain financial assets at fair values, whichrequires the use of accounting estimates. While significantcomponents of fair value measurement were determined usingverifiable objective evidences, the amount of changes in fairvalues would differ if the Group utilized different valuationmethodology. Any changes in fair values of these financial assetswould affect directly the Group’s profit or loss.

43



Penyusutan aset tetap (lanjutan) Depreciation of fixed assets (continued)

Revaluasi properti investasi Investment property revaluation

Pajak penghasilan Income tax

Aset pajak tangguhan Deferred tax assets

Estimasi klaim Estimated claims

Grup wajib membentuk cadangan untuk pembayaran klaim yangtimbul, dimana merupakan biaya yang diharapkan untukmenyelesaikan klaim yang telah terjadi, tetapi masih dalam prosespada saat tanggal laporan posisi keuangan.

The Group is required to establish reserves for payment of claimsthat may arise, which represent the expected ultimate cost tosettle claims occurring prior to, but still outstanding as of the dateof the statement of financial position.

Estimasi klaim terdiri dari 2 (dua) jenis, yaitu cadangan atas klaimyang sudah dilaporkan dan klaim yang sudah terjadi tetapi belumdilaporkan (“IBNR”).

Estimated claims have 2 (two) types, which include reserves forreported losses and reserves for incurred but not reported losses(“IBNR”).

Penentuan nilai wajar properti investasi adalah yang paling sensitifterhadap hasil estimasi serta vacancy rate jangka panjang.Asumsi utama yang digunakan untuk menentukan nilai wajarproperti investasi, dijelaskan lebih lanjut dalam Catatan 8d.

The determined fair value of the investment properties is mostsensitive to the estimated yield as well as the long-term vacancyrate. The key assumptions used to determine the fair value of theinvestment properties are further explained in Note 8d.

Pertimbangan signifikan dilakukan dalam menentukan provisi ataspajak penghasilan badan. Terdapat transaksi dan perhitungantertentu yang penentuan pajak akhirnya adalah tidak pastisepanjang kegiatan usaha normal. Grup mengakui liabilitas ataspajak penghasilan badan berdasarkan estimasi apakah terdapattambahan pajak penghasilan badan.

Significant judgement is involved in determining provision forcorporate income tax. There are certain transaction andcomputation for which the ultimate tax determination is uncertainduring the ordinary course of business. The Group recognizesliabilities for expected corporate income tax issues based onestimates of whether additional corporate income tax will be due.

Aset pajak tangguhan diakui atas seluruh perbedaan temporeryang dapat dikurangkan, sepanjang besar kemungkinannya bahwapenghasilan kena pajak akan tersedia sehingga perbedaantemporer tersebut dapat digunakan. Estimasi signifikan olehmanajemen disyaratkan dalam menentukan jumlah aset pajaktangguhan yang dapat diakui, berdasarkan saat penggunaan dantingkat penghasilan kena pajak serta strategi perencanaan pajakmasa depan.

Deferred tax assets are recognized for all deductible temporarydifferences, to the extent that it is probable that taxable profit willbe available against which the deductible temporary differences.Significant management estimates are required to determine theamount of deferred tax assets that can be recognized, basedupon the likely timing and the level of the future taxable profitstogether with future tax planning strategies.

Penjelasan lebih rinci diungkapkan dalam Catatan 2h dan 12. Further details are disclosed in Notes 2h and 12.

Grup mencatat properti investasi pada nilai wajar, denganperubahan nilai wajar yang diakui dalam laporan laba rugi danpendapatan komprehensif lainnya. Selain itu, pengukuran tanahdan bangunan pada nilai revaluasi dengan perubahan nilai wajardiakui dalam laporan laba rugi dan pendapatan komprehensiflainnya. Grup menggunakan spesialis penilai independen untukmenentukan nilai wajar pada tanggal 31 Desember 2020 dan 2019.Untuk properti investasi Penilaian, ditentukan berdasarkantransaksi pasar terkini yang dilakukan dalam ketentuan-ketentuanyang wajar.

The Group carries its investment properties at fair value, withchanges in fair value being recognized in profit or loss and othercomprehensive income. In addition, it measures land andbuildings at revalued amounts with changes in fair value beingrecognized in profit or loss and other comprehensive income. TheGroup engaged independent valuation specialists to determinethe fair value as of December 31, 2020 and 2019. For theinvestment property, The valuation was determined by referenceto recent market transactions on arm’s length terms.

44



Estimasi klaim (lanjutan) Estimated claims (continued)

Pengujian kecukupan liabilitas Liability adequacy test

Sewa Leases

Penentuan apakah suatu perjanjian mengandung unsur sewamembutuhkan pertimbangan yang cermat untuk menilai apakahperjanjian tersebut memberikan hak untuk mendapatkan secarasubtansial seluruh manfaat ekonomi dari penggunaan asetidentifikasian dan hak untuk mengarahkan penggunaan assetidentifikasian, bahkan jika hak tersebut tidak dijabarkan secaraeksplisit di perjanjian.

Determining whether an arrangement is or contains a leaserequires careful judgement to assess whether the arrangementconveys a right to obtain substantially all the economic benefitsfrom use of the asset throughout the period of use and right todirect the use of the asset, even if the right is not explicitlyspecified in the arrangement.

Perusahaan mempunyai beberapa perjanjian sewa di manaPerusahaan bertindak sebagai penyewa untuk beberapa asettertentu. Perusahaan mengevaluasi apakah terdapat risiko danmanfaat kepemilikan yang signifikan dari aset sewaan yangdialihkan kepada berdasarkan PSAK 73, yang mensyaratkanPerusahaan untuk membuat pertimbangan dan estimasi daripengalihan risiko dan manfaat terkait atas kepemilikan asetsewaan.

The Company has various lease agreements where the Companyacts as a lessee in respect of certain assets. The Companyevaluates whether significant risks and rewards of ownership ofthe leased asset are transferred to the lessee based on SFAS 73,which requires the Company to make judgements and estimatesof transfer of risks and rewards of ownership of a leased asset.

Karena Perusahaan tidak dapat dengan mudah menentukan sukubunga implisit, manajemen menggunakan suku bunga pinjamaninkremental Perusahaan sebagai tingkat diskonto. Ada beberapafaktor yang perlu dipertimbangkan dalam menentukan suku bungapinjaman inkremental, yang banyak di antaranya memerlukanpertimbangan untuk dapat secara andal mengukur penyesuaianyang diperlukan untuk sampai pada tingkat diskonto akhir. Dalammenentukan suku bunga pinjaman inkremental, Perusahaanmempertimbangkan faktor-faktor utama berikut: risiko kreditkorporat Perusahaan, jangka waktu sewa, jangka waktupembayaran sewa, lingkungan ekonomi, waktu di mana sewadimasukkan, dan mata uang di mana pembayaran sewaditentukan.

Since the Company could not readily determine the implicit rate,management used the Company's incremental borrowing rate asa discount rate. There are a number of factors to consider indetermining an incremental borrowing rate, many of which needjudgement in order to be able to reliably quantify any necessaryadjustments to arrive at the final discount rates. In determining anincremental borrowing rate, the Company considers the followingmain factors: the Company ’s corporate credit risk, the lease term,the lease payment term, the economic environment, the time atwhich the lease is entered into, and the currency in which thelease payments are denominated.

Cadangan atas klaim IBNR dibentuk dengan menggunakan datahistoris pengalaman klaim yang diproyeksikan untuk memperolehperkiraan biaya dari klaim yang sudah terjadi tetapi belumdilaporkan.

Reserve on IBNR is established using historical data of claimdevelopment which is projected to obtain estimated cost onincurred claim but not yet reported.

Pada tanggal pelaporan, keseluruhan jumlah aset dan liabilitasasuransi yang dicatat telah dilakukan pengujian kecukupanliabilitas dan Manajemen meyakini bahwa nilai tersebut adalahmemadai.

As of the reporting date, all insurance assets and liabilities havebeen estimated and the management believes that the amountsrecorded are adequate.

Cadangan atas klaim yang sudah dilaporkan berdasarkan padaestimasi pembayaran di masa mendatang untuk menyelesaikanklaim. Estimasi dibentuk berdasarkan fakta-fakta yang tersediapada saat cadangan ditetapkan.

Reserves for reported losses are based on estimates of futurepayments to settle reported claims. Reserve is establish based onthe facts available at the time the reserves are established.

45



Sewa (lanjutan) Leases (continued)

4. KAS DAN BANK 4. CASH ON HAND AND IN BANKS

a. Berdasarkan bank a. By bank

Kas CashBank BanksPihak ketiga Third parties

PT Bank Permata Tbk PT Bank Permata TbkPT CIMB Niaga Tbk PT CIMB Niaga TbkPT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) TbkPT Bank Central Asia Tbk PT Bank Central Asia TbkPT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) TbkPT Bank Mestika Dharma Tbk PT Bank Mestika Dharma TbkPT BPD Jabar dan Banten Tbk PT BPD Jabar dan Banten TbkPT Bank Panin Tbk PT Bank Panin TbkPT Bank Sinarmas Tbk PT Bank Sinarmas TbkPT Bank Sinarmas Tbk - Unit Usaha PT Bank Sinarmas Tbk - Unit Usaha

Syariah SyariahPT Bank Danamon Indonesia Tbk PT Bank Danamon Indonesia TbkPT Bank Mayapada International Tbk PT Bank Mayapada International TbkPT Bank KEB Hana Indonesia PT Bank KEB Hana IndonesiaPT BPR Mandiri Jaya Perkasa PT BPR Mandiri Jaya PerkasaPT Bank China Construction Bank PT Bank China Construction Bank

Indonesia Tbk Indonesia Tbk PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) TbkPT Bank Commonwealth PT Bank CommonwealthPT Bank MNC Internasional Tbk PT Bank MNC Internasional TbkPT Bank Maybank Indonesia Tbk PT Bank Maybank Indonesia TbkKoperasi Kospin Indosurya Cipta Koperasi Kospin Indosurya CiptaPT Bank QNB Indonesia Tbk PT Bank QNB Indonesia TbkPT Bank Oke Indonesia Tbk PT Bank Oke Indonesia TbkBank of China Limited Bank of China Limited

Dalam menentukan jangka waktu sewa, Perusahaanmempertimbangkan semua fakta dan keadaan yang menimbulkaninsentif ekonomi untuk menggunakan opsi perpanjangan, atautidak menggunakan opsi penghentian. Opsi perpanjangan (atauperiode setelah opsi penghentian kontrak kerja) hanya termasukdalam jangka waktu sewa jika cukup pasti akan diperpanjang (atautidak dihentikan). Penilaian tersebut ditinjau kembali jika terjadiperistiwa signifikan atau perubahan signifikan dalam situasi yangmemengaruhi penilaian ini dan berada dalam kendali Perusahaan.Untuk tahun yang berakhir pada tanggal 31 Desember 2020, tidakada revisi persyaratan sewa untuk mencerminkan efek darimelaksanakan opsi perpanjangan dan penghentian hubungankerja.

In determining the lease term, the Company considers all factsand circumstances that create an economic incentive to exercisean extension option, or not exercise a termination option.Extension options (or periods after termination options) are onlyincluded in the lease term if the lease is reasonably certain to beextended (or not terminated). The lease term is reviewed if asignificant event or a significant change in circumstances occurswhich affects this assessment and that is within the control of theCompany. For the year ended December 31, 2020, there is norevision of lease terms to reflect the effect of exercising extensionand termination options.

2020 2019

2.000.000

72.098.884

13.776.388

61.384

- 4.200.347

68.221.185

- -

37.169.580

1.956.687 251.790

5.440.102

4.617.326

7.425.665

564.640 2.473.265

-

21.173.391 29.899.814

422.858

33.104.401 2.000.205

431.802.539

6.554.785

20.260.525.918 13.139.586.239

5.201.290.032

877.380.638

5.423.702.740

4.500.000 4.500.000

2.500.205.096 5.271.439.207 1.836.465.545

4.408.379.074

510.613.438

270.824.817

515.831.263

123.181.918

462.274.086 85.560.042

- 6.439.286

5.132.027 1.031.247

829.190

6.056.999 13.820.981

5.134.439.295

46


4. KAS DAN BANK (Lanjutan) 4. CASH ON HAND AND IN BANKS (Continued)

a. Berdasarkan bank (lanjutan) a. By bank (continued)

Bank (lanjutan) Banks (continued)Pihak ketiga (lanjutan) Third parties (continued)

Pihak berelasi (Catatan 37) Related parties (Note 37)PT Bank Nationalnobu Tbk PT Bank Nationalnobu Tbk

Jumlah kas dan bank Total cash on hand and in banks

Rupiah Indonesian RupiahDolar AS US Dollar

Jumlah Total

b. Informasi lainnya b. Other information

- -- -


5. PIUTANG PREMI 5. PREMIUMS RECEIVABLE

a. Berdasarkan jenis asuransi a. By insurance

Kebakaran FireKesehatan Health

Life and deathKendaraan Bermotor Motor Vehicles

Marine CargoOthers

Jumlah Total

Lain-lain 45.176.931.706

448.922.767.297

24.104.264.372 17.515.063.757

Informasi lainnya sehubungan dengan kas dan bank adalahsebagai berikut:

Other information relating to cash on hand and in banks is asfollows:

Rekening bank dapat ditarik setiap saat; Cash in banks can be withdrawn at anytime;

2020 2019

23.614.820.629 489.443.743

11.138.323.458 11.069.379.899

6.904.156.031 24.323.424.670

2019

Tingkat suku bunga kontraktual bank jangka pendek adalahsebagai berikut:

3,00% - 5,00%

Contractual interest rates on cash in banks are as follows:

2020

16.122.800.088 1.392.263.669

3.839.238.454 4.370.977.518

24.104.264.372 17.515.063.757

Kas dan bank berdasarkan mata uang adalah sebagai berikut:

6,00% - 7,75%0,50% - 1,50% 1,75% - 2,60%

The maximum exposure to credit risk at the end of thereporting period is the carrying amount of each class of cashon hand and in banks mentioned above.

Eksposur maksimum terhadap risiko kredit pada akhir periodepelaporan adalah senilai jumlah tercatat dari setiap kelas kasdan bank sebagaimana yang dijabarkan di atas.

2019

192.069.835.657 81.499.001.921

9.724.608.478

Jiwa dan Kematian 14.282.965.379 17.394.583.039

333.260.381.217

2020

284.825.387.087 83.774.551.189

Piutang premi merupakan tagihan premi kepada tertanggung, agenasuransi dan broker asuransi.

Pengangkutan

3.839.238.454 4.370.977.518

Cash on hand and in banks by currency are as follows:

2020 2019

Premium receivables represent receivables from policy holders,insurance agents and insurance brokers.

47


5. PIUTANG PREMI (Lanjutan) 5. PREMIUMS RECEIVABLE (Continued)

b. Berdasarkan umur b. By age

Kurang dari 60 hari Less than 60 daysLewat jatuh tempo 60-90 hari Overdue for 60-90 daysLewat jatuh tempo lebih dari 90 hari Overdue for more than 90 days

Jumlah Total

c. Berdasarkan tertanggung dan asuradur c. By insured and ceding company

Pihak ketiga Third partiesPT Kalibesar Raya Utama PT Kalibesar Raya UtamaPT Dinamika Prima Servitama PT Dinamika Prima ServitamaPT Jaya Proteksindo Sakti PT Jaya Proteksindo SaktiPT Talisman Insurance Broker PT Talisman Insurance BrokerPT Duta Semesta Raya Insurance Broker PT Duta Semesta Raya Insurance BrokerPT Marsh Indonesia PT Marsh IndonesiaPT Howden Insurance Brokers Indonesia PT Howden Insurance Brokers IndonesiaPT Aventis Pharma PT Aventis PharmaPT Jakarta Propertindo PT Jakarta PropertindoPT Pialang Asuransi Indotekno PT Pialang Asuransi IndoteknoPT Paiton Operation & Maintenance PT Paiton Operation & Maintenance

Indonesia IndonesiaPT Mitra Iswara & Rorimpandey PT Mitra Iswara & RorimpandeyPT Matahari Department Store Tbk PT Matahari Department Store TbkPT Nusa Halmahera Minerals PT Nusa Halmahera MineralsPT Bussan Auto Finance PT Bussan Auto FinancePT Bank Rabobank International Indonesia PT Bank Rabobank International IndonesiaLainnya (masing-masing Others (each account

di bawah Rp 5.000.000.000) below Rp 5,000,000,000)

Pihak berelasi (Catatan 37) Related parties (Note 37)PT Aon Indonesia PT Aon IndonesiaPT Matahari Putra Prima Tbk PT Matahari Putra Prima TbkPT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Lippo Karawaci Tbk PT Lippo Karawaci Tbk

Jumlah Total

17.466.331.290 8.322.298.054

6.003.656.852

6.413.646.498

6.528.045.849 6.531.562.922

225.388.302.072 335.654.589.233

10.960.081.533

8.287.746.876

93.403.955.235

The maximum exposure to credit risk at the reporting date isthe carrying value of each class of receivable mentionedabove. The Group does not hold any collateral as security.

31.931.706.678

34.005.760.407 66.032.794.583

34.037.323.074

16.856.731.109

333.260.381.217 448.922.767.297

297.652.232.702

27.942.346.468 6.431.152.971

2019

As of December 31, 2020 and 2019, the aging analysis ofthese premium receivables is as follows:

2019

7.789.957.396

8.544.909.675 34.175.329.475

2020

81.633.348.272

3.676.441.837

18.927.574.473

113.268.178.064

4.678.528.485

2.111.788.367

Pada tanggal 31 Desember 2020 dan 2019, analisis umurpiutang premi adalah sebagai berikut:

333.260.381.217

16.689.834

17.885.144.253

2020

107.872.079.145

5.069.146.580 9.179.469.996 5.580.689.405

448.922.767.297

100.010.087.265

61.858.682.614

414.549.267.858

21.628.319.692

5.448.459.392

5.244.165.777 (314.472.707)

9.772.905.591 8.328.397.729

Eksposur maksimum risiko kredit pada tanggal pelaporanadalah sebesar nilai tercatat masing-masing kategori piutangyang disebutkan di atas. Grup tidak menguasai aset-asetsebagai jaminan piutang.

-

1.322.286.381

15.956.092.000 - 13.424.024.803 - 9.064.709.515 3.825.931

19.993.154.038

48


5. PIUTANG PREMI (Lanjutan) 5. PREMIUMS RECEIVABLE (Continued)

d. Berdasarkan mata uang d. By currency

Rupiah Indonesian RupiahDolar As US DollarEuro EuroDolar Singapura Singapore DollarDolar Australia Australian Dollar

Others

Jumlah Total

6. PIUTANG REASURANSI 6. REINSURANCE RECEIVABLES


Kebakaran FireLife and deathMarine Cargo

Kesehatan HealthKendaraan Bermotor Motor Vehicles

Others

Jumlah Total

23.852.483.269

269.749.738.121 86.742.176.754

2019

61.289.874.774 360.958.563.699

2020

35.785.130.295

- 44.097.198

873.917.434

751.868.625

15.710.654.181

8.347.685.913

2.735.855.670

6.846.331.820

Manajemen berpendapat piutang premi pada pihak yang berelasidilakukan dengan syarat dan kondisi yang sama sebagaimanadilakukan dengan pihak ketiga (Catatan 37).

Management believes that premium receivables from relatedparties have similar terms and conditions as those from thirdparties (Note 37).

1.126.474.069

1.019.679.439

Lain-lain

Manajemen juga berpendapat bahwa tidak terdapat risiko yangterkonsentrasi secara signifikan atas piutang premi kepada pihakketiga.

30.797.795.466

1.461.596.266

Jiwa dan Kematian

Reinsurance receivables represent billings to reinsurers aftercalculating its reinsurance commissions and claims uponapportioned risks based on treaty reinsurance agreement.

2020

Pengangkutan5.734.620.952

Piutang reasuransi merupakan tagihan kepada reasuradursesudah memperhitungkan komisi dan klaim reasuransi ataspenyerahan sebagian risiko berdasarkan perjanjian ataukesepakatan kedua belah pihak atau lebih.

Management also believes that there is no significantconcentration of risk on premium receivables to third parties.

Based on the review of the status of the premiums receivableaccounts at the end of year, the Group’s management is of theopinion that no allowance for impairment is required asmanagement believes that all such receivables are collectibles.

Berdasarkan analisa atas status masing-masing saldo piutangpremi pada akhir tahun, manajemen Grup berpendapat bahwatidak perlu dibentuk penyisihan penurunan nilai, karenamanajemen berpendapat seluruh piutang premi dapat tertagih.

Berdasarkan Peraturan Otoritas Jasa Keuangan No.71/POJK.05/2016 tanggal 28 Desember 2016 penyempurnaanatas Peraturan Menteri Keuangan Republik Indonesia No.53/PMK.010/2012 tanggal 3 April 2012, piutang premi yang diakuisebagai aset yang diperkenankan dalam menghitung solvabilitasadalah sebesar Rp 414.549.267.858 dan Rp 297.652.232.702pada 31 Desember 2020 dan 2019.

In accordance with Regulation of Financial Services Authority No.71/POJK.05/2016 dated December 28, 2016 improvementRegulation of the Minister of Finance of the Republic IndonesiaNo. 53/PMK.010/2012 dated April 3, 2012, premium receivableswhich stated as admitted assets in solvability calculation areamounted to Rp 414,549,267,858 and Rp 297,652,232,702 as ofDecember 31, 2020 and 2019, respectively.

22.329.052

333.260.381.217

Lain-lain 31.828.661

63.724.114

724.673.477

448.922.767.297

692.894.912

22.179.946

2019

(37.174.071)

49


6. PIUTANG REASURANSI (Lanjutan) 6. REINSURANCE RECEIVABLES (Continued)

b. b.

Kurang dari 60 hari Less than 60 daysLewat jatuh tempo 60-90 hari Overdue for 60-90 daysLewat jatuh tempo lebih dari 90 hari Overdue for more than 90 days

Jumlah Total

c. Berdasarkan tertanggung dan reasuradur c. By insured and ceding company

Pihak ketiga Third partiesPT Jaya Proteksindo Sakti Reinsurance PT Jaya Proteksindo Sakti ReinsurancePT Reasuransi Nasional Indonesia PT Reasuransi Nasional IndonesiaPT Simas Reinsurance Brokers PT Simas Reinsurance BrokersPT Maskapai Reasuransi Indonesia Tbk PT Maskapai Reasuransi Indonesia TbkAon Benfield Asia Pte Ltd Aon Benfield Asia Pte Ltd PT Asuransi Astra Buana PT Asuransi Astra BuanaPT Asuransi Multi Artha Guna Tbk PT Asuransi Multi Artha Guna TbkSwiss Reinsurance Company Ltd Swiss Reinsurance Company LtdPT Reasuransi Indonesia Utama (Persero) PT Reasuransi Indonesia Utama (Persero)Lainnya (masing-masing Others (each account

di bawah Rp 500.000.000) below Rp 500,000,000)

Pihak berelasi (Catatan 37) Related party (Note 37)PT Aon Reinsurance Brokers Indonesia PT Aon Reinsurance Brokers Indonesia

(d/h PT Aon Benfield Indonesia) (formerly PT Aon Benfield Indonesia)

Jumlah Total


Rupiah Indonesian RupiahDolar Singapura Singapore DollarDolar AS US DollarEuro EuroLain-lain Others

Jumlah Total

7.252.003.962 383.111.312

941.728.555 43.739.725

30.797.795.466

2020

754.567.171 4.234.251.524

-

2019

32.503.140.874

30.797.795.466

35.785.130.295

11.266.407.891 2.562.975.739

35.785.130.295

4.223.559.459 4.230.814.134

2.584.108.376

26.704.229.990

1.041.526.929

3.117.037.246

Berdasarkan Peraturan Otoritas Jasa Keuangan No.71/POJK.05/2016 tanggal 28 Desember 2016 penyempurnaanatas Peraturan Menteri Keuangan Republik Indonesia No.53/PMK.010/2012 tanggal 3 April 2012, piutang reasuransi yangdiakui sebagai aset yang diperkenankan dalam menghitungsolvabilitas adalah sebesar Rp 16.621.643.544 dan Rp22.200.560.224 pada 31 Desember 2020 dan 2019.

Based on the review result on reinsurance receivables account atthe end of the year, the Group’s management is of the opinionthat the receivables were collectible and therefore no allowancefor impairment was made.

9.945.337.788

30.797.795.466

274.754.134

2.431.924.708 2.039.546.770

9.361.010.612

-

16.621.643.544

By age

35.785.130.295

2020

5.777.068.950

In accordance with Regulation of Financial Services Authority No.71/POJK.05/2016 dated December 28, 2016 improvementRegulation of the Minister of Finance of the Republic IndonesiaNo. 53/PMK.010/2012 dated April 3, 2012, reinsurance receivablewhich stated as admitted assets in solvency calculation areamounted to Rp 16,621,643,544 and Rp 22,200,560,224 as ofDecember 31, 2020 and 2019, respectively.

217.408.555

4.093.565.476 3.281.989.421

235.067.047

5.113.631.324

4.569.515.570 5.913.037.144

2019

22.200.560.224

Berdasarkan umur

2019

Berdasarkan hasil penelaahan terhadap akun piutang reasuransipada akhir tahun, manajemen Grup berpendapat bahwa piutangtersebut dapat tertagih sehingga tidak dibentuk penyisihanpenurunan nilai.

- 4.311.062

1.037.460.657

32.744.235.255 2.386.331.640

2020

26.510.294.834

1.626.414.858

727.835.688

50


7. PIUTANG LAIN-LAIN 7. OTHER RECEIVABLES

Piutang hasil investasi Investment income receivablesKupon obligasi Interest from bondBunga deposito berjangka Interest from time depositsHasil investasi reksadana Gain on investment of mutual fundSewa RentBunga efek beragunan aset Interest on asset backed securitiesHasil investasi dana investasi real estat Gain on investment of real estate investment

Excess klaim Excess claimPiutang pegawai Employee receivablePiutang pihak berelasi (Catatan 37) Related parties receivables (Note 37)Lain-lain Others

Jumlah Total

Penyisihan kerugian penurunan Allowance fornilai piutang excess klaim impairment - excess claim

Neto Net

8. INVESTASI 8. INVESTMENT

Efek Marketable securitiesDeposito berjangka Time depositsProperti investasi Investment propertiesPenyertaan saham Investment in stock

Jumlah Total

9.035.288.106

1.434.245.154 1.719.736.357 3.356.267.413

Employee receivables are non interest bearing and collectiblethrough monthly salary deduction.

1.001.663.118

271.574.305.617 956.780.532.038

1.500.003

1.339.253.561.392

4.009.428.232

15.088.812.307

1.165.505.611

20192020

3.211.201.727

The Group's management is of the opinion that no allowance forimpairment for other receivables other than excess claim isrequired as management believes that all such receivables arecollectible.

15.781.916.578

Manajemen Grup berpendapat bahwa tidak dibentuk penyisihankerugian penurunan nilai piutang lain-lain selain excess claimkarena manajemen berpendapat bahwa piutang lain-lain tersebutdapat tertagih.

Manajemen berpendapat bahwa penyisihan kerugian penurunanpiutang excess klaim adalah cukup untuk menutup kerugian yangmungkin timbul akibat tidak tertagihnya piutang tersebut.

Management believes that the allowance for impairment isadequate to cover possible losses which might arise from non-collection of excess claims receivable.

Piutang pegawai merupakan pinjaman kepada pegawai yang tidakdikenakan bunga, pembayaran diangsur melalui pemotongan gaji.

163.263.409.417

185.385.398

107.273.286.882 1.165.505.611

15.403.694.615

25.290.658.795

201.538.260 240.183.221

1.185.399.911.397

109.733.218.126

2020

Pada 31 Desember 2020 dan 2019 penyisihan kerugian penurunannilai atas excess klaim masing-masing adalah sebesarRp 693.104.271. Tidak terdapat penambahan, pemulihan ataupenghapusan penyisihan penambahan kerugian penurunan nilaiatas excess klaim pada 2020 dan 2019.

As of December 31, 2020 and 2019, allowance for impairment onexcess claim amounted to Rp 693,104,271. No provision forimpairment and reversal or write off of allowance for impairmenton excess claim were recognized in 2020 and 2019.

2019

179.096.944

(693.104.271)

24.597.554.524

-

1.087.023.381

287.363.015

2.243.121 5.120.635.151

3.238.123.161

1.048.237.940

(693.104.271)

377.446.337

2.976.991.057

913.697.709.487

51


8. INVESTASI (Lanjutan) 8. INVESTMENT (Continued)

a. Deposito berjangka a. Time deposits

Deposito wajib Compulsory time deposits

Dalam mata uang Rupiah Denominated in RupiahPihak ketiga Third parties

PT Bank Permata Tbk PT Bank Permata Tbk

Deposito sukarela Voluntary time deposits

Dalam mata uang Rupiah Denominated in RupiahPihak ketiga Third parties

PT Bank CIMB Niaga Tbk PT Bank CIMB Niaga TbkPT Bank Danamon Indonesia Tbk PT Bank Danamon Indonesia TbkPT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) TbkPT Bank Permata Tbk PT Bank Permata TbkPT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) TbkPT Bank KEB Hana Indonesia PT Bank KEB Hana IndonesiaPT Bank Panin Tbk PT Bank Panin TbkPT Bank Rakyat Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) TbkPT Bank Mayapada Tbk PT Bank Mayapada TbkPT BPD Jabar dan Banten Tbk PT BPD Jabar dan Banten TbkPT BPR Sri Artha Lestari PT BPR Sri Artha LestariPT Bank Amar Indonesia PT Bank Amar IndonesiaPT Bank Perkreditan Rakyat PT Bank Perkreditan RakyatPT Bank Victoria International Tbk PT Bank Victoria International TbkPT Bank Capital Tbk PT Bank Capital TbkPT Bank MNC Internasional Tbk PT Bank MNC Internasional TbkPT BPR Mitradana Madani PT BPR Mitradana Madani

Pihak berelasi (Catatan 37) Related party (Note 37)PT Bank Nationalnobu Tbk PT Bank Nationalnobu Tbk

Dalam mata uang Dolar AS Denominated in US DollarPihak ketiga Third parties

PT Bank CIMB Niaga Tbk PT Bank CIMB Niaga TbkPT Bank Permata Tbk PT Bank Permata Tbk

Pihak berelasi (Catatan 37) Related party (Note 37)PT Bank Nationalnobu Tbk PT Bank Nationalnobu Tbk

Jumlah Total

Rupiah Indonesian Rupiah

Dolar AS US Dollar

6,00% - 7,75%

2.000.000.000 2.500.000.000

Tingkat bunga per tahun adalah sebagai berikut:

2019

109.501.851.863

500.000.000

1.000.000.000

39.254.692.868

3.000.000.000

58.930.594.151

108.501.851.863

2020

2.600.000.000

9.730.707.000

23.347.158.995

2019

29.000.000.000

3.000.000.000 1.000.000.000

10.000.000.000

50.761.557.554

271.574.305.617 163.263.409.417

-

1.000.000.000

66.486.051.471

250.000.000

-

-

0,50% - 1,50%

197.677.753.146

-

9.350.000.000

3.000.000.000

2.000.000.000 2.000.000.000

66.486.051.471 38.834.490.974 2.196.359.580 -

8.250.000.000

67.896.552.471

41.030.850.554

200.677.753.146

5.347.158.995

5.000.000.000

3,00% - 5,00%

10.000.000.000

1.000.000.000

-

3.000.000.000

2.000.000.000

750.000.000

1.410.501.000

Interest rates per annum are as follows:

3.000.000.000

9.350.000.000

200.000.000 500.000.000

43.000.000.000 16.000.000.000

2020

1,75% - 2,60%

50.000.000

21.000.000.000

52



a. Deposito berjangka (lanjutan) a. Time deposits (continued)

b. Efek b. Marketable securities

Diperdagangkan Trading

Saham Shares Pihak ketiga Third party

PT Sucaco Tbk PT Sucaco Tbk

Reksadana Mutual fund Pihak ketiga Third party

Reksadana Cipta Obligasi Gemilang Reksadana Cipta Obligasi GemilangReksadana Syailendra Dana Kas Reksadana Syailendra Dana KasReksadana Danareksa Seruni Reksadana Danareksa Seruni

Pasar Uang II Pasar Uang IIReksadana Mandiri Investa Pasar Uang Reksadana Mandiri Investa Pasar UangReksadana Mandiri Investa Dana Reksadana Mandiri Investa Dana

Obligasi Seri II Obligasi Seri IIReksadana Terproteksi Mandiri Seri 129 Reksadana Terproteksi Mandiri Seri 129Reksadana Kisi Money Market Fund Reksadana Kisi Money Market FundReksadana Penyertaan Terbatas Danareksa Reksadana Penyertaan Terbatas Danareksa

Pendapatan Tetap Indonesia Sehat Pendapatan Tetap Indonesia SehatReksadana Tram Strategic Plus Reksadana Tram Strategic PlusReksadana Terproteksi Cipta Proteksi IX Reksadana Terproteksi Cipta Proteksi IXReksadana Penyertaan Terbatas Reksadana Penyertaan Terbatas

Cipta Properti Indonesia Cipta Properti IndonesiaReksadana Terproteksi Mandiri Seri 109 Reksadana Terproteksi Mandiri Seri 109Reksadana Terproteksi Mandiri Seri 198 Reksadana Terproteksi Mandiri Seri 198

Efek beragunan aset Asset backed securities Pihak ketiga Third party

PT Indonesia Power PT Indonesia Power KIK EBA IP PLN Seri A Tahun 2017 KIK EBA IP PLN Seri A Tahun 2017

118.383.543.110 111.551.016.383

23.459.048.100 29.461.521.612 10.812.996.700 11.129.938.600

- 894.562.500

2020

10.469.353.755

791.872.312

53.029.091.045

2019

6.206.337.463 5.481.669.775

-

-

5.027.475.000

7.846.400.288

5.053.216.500

8.894.421.963

Pada tahun 2020 dan 2019, Deposito wajib sebesarRp 3.000.000.000 merupakan dana jaminan Grup dalam bentukDeposito berjangka sesuai dengan Peraturan Otoritas JasaKeuangan No. 71/POJK.05/2016 tanggal 28 Desember 2016penyempurnaan atas Peraturan Menteri Keuangan RepublikIndonesia No. 53/PMK.010/2012 tanggal 3 April 2012 dimanaPerusahaan wajib membentuk dana jaminan dengan jumlahyang lebih besar antara 20% dari ekuitas minimum yangdipersyaratkan atau bagi perusahaan asuransi umum hasilpenjumlahan 1% dari premi neto ditambah 0,25% dari premireasuransi ditambah 2% dari cadangan atas PAYDI (ProdukAsuransi Yang Dikaitkan Dengan Investasi) dan bagiperusahaan asuransi jiwa adalah hasil penjumlahan 2% daricadangan atas PAYDI ditambah 5% dari cadangan premi untukproduk selain PAYDI dan cadangan atas premi yang belummerupakan pendapatan. Manajemen berpendapat bahwabesarnya deposito wajib Grup telah memenuhi ketentuan diatas.

5.314.650.000 5.222.950.000

5.085.150.000 5.084.900.000

2.073.962.000 2.102.734.800

In 2020 and 2019, Compulsory time deposits amounting toRp 3,000,000,000 is the Group’s guarantee fund in the form oftime deposits in accordance with Regulation of FinancialServices Authority No. 71/POJK.05/2016 dated December 28,2016 improvement Regulation of the Minister of Finance of theRepublic Indonesia No. 53/PMK.010/2012 dated April 3, 2012in which Company required to form guarantee fund thegreater amount between 20% of the minimum equity requiredor for general insurance companies is the sum of 1% of netpremium by 0.25% of reinsurance premiums and 2% ofreserves of insurance products associated with investmentand for life insurance companies is the sum of 2% of reservesof insurance products associated with investment and 5% ofreserves except for insurance products associated withinvestment and unearned premium reserves. Managementbelieves that the amount of the Group compulsory timedeposits has complied with the regulations above mentioned.

177.023.574.446 352.300.159.904

1.197.332.141

32.335.771.439 -

65.297.585.817 -

53



b. Efek (lanjutan) b. Marketable securities (continued)

Diperdagangkan (lanjutan) Trading (contined)

Obligasi Bonds Pihak ketiga Third parties

Obligasi Pemerintah FR 070 Government Bonds FR 070Obligasi Berkelanjutan I Sarana Multi Obligasi Berkelanjutan I Sarana Multi

Infra Tahap II Tahun 2017 Seri C Infra Tahap II Tahun 2017 Seri CObligasi Pemerintah FR 076 Government Bonds FR 076Obligasi I Kereta Api Indonesia Obligasi I Kereta Api Indonesia

Tahun 2017 Seri B Tahun 2017 Seri BObligasi Berkelanjutan III Waskita Obligasi Berkelanjutan III Waskita

Karya Tahap II Tahun 2018 Seri B Karya Tahap II Tahun 2018 Seri B

Jumlah efek diperdagangkan Total trading securities

Tersedia untuk dijual Available for sale

Saham Shares

Pihak berelasi (Catatan 37) Related parties (Note 37)PT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Lippo Karawaci Tbk PT Lippo Karawaci TbkPT Matahari Putra Prima Tbk PT Matahari Putra Prima Tbk

Reksadana Mutual fund Pihak ketiga Third parties

Reksadana Terproteksi Mandiri Seri 109 Reksadana Terproteksi Mandiri Seri 109

Dana investasi real estat Real estate investment trustPihak ketiga Third parties

First REIT First REIT

Jumlah efek tersedia untuk dijual Total available for sale securities

Dimiliki hingga jatuh tempo Held to maturity

Obligasi BondsPihak ketiga Third parties

Obligasi Pemerintah FR 061 Government Bonds FR 061Obligasi Pemerintah FR 052 Government Bonds FR 052Obligasi Pemerintah FR 080 Government Bonds FR 080Obligasi Pemerintah FR 047 Government Bonds FR 047Obligasi Pemerintah FR 036 Government Bonds FR 036

Premium/(diskonto) Premium/(discount)

Jumlah efek untuk tujuan dimiliki Total marketable securitieshingga jatuh tempo held to maturity

Jumlah efek Total marketable securities

11.659.703.976

2020 2019

10.358.466.100

25.200.476.250

2.981.610.000

10.564.673.000

418.994.230.379

913.697.709.487

9.689.457.100

(29.778.657)

278.299.147.500

497.816.080.316 322.725.597.037

8.744.788.500

413.966.730.379

27.000.000.000

5.053.200.000 5.027.500.000

455.414.966.116

1.000.000.000 1.000.000.000

40.000.000.000

2.000.000.000

551.124.484.402

10.000.000.000

(152.371.952)

39.970.221.343 39.847.628.048

2.000.000.000

95.146.142.000

300.225.747.000

95.504.752.000

10.214.542.600

3.000.900.000

25.673.157.000

5.027.500.000

27.000.000.000

143.610.127.950

- -

126.922.794.379 143.529.515.140

5.053.200.000

40.000.000.000

10.000.000.000

144.724.048.100

- 90.656.318.286

956.780.532.038

54




Saham SharesPihak ketiga Third partyPT Sucaco Tbk PT Sucaco Tbk

Reksadana Mutual fundsPihak ketiga Third partyReksadana Cipta Reksadana Cipta

Obligasi Gemilang Obligasi GemilangReksadana Syailendra Reksadana Syailendra

Dana Kas Dana KasReksadana Danareksa Reksadana Danareksa

Seruni Pasar Uang II Seruni Pasar Uang IIReksadana Mandiri Reksadana Mandiri

Investa Pasar Uang Investa Pasar UangReksadana Mandiri Reksadana Mandiri

Investa Dana Obligasi Investa Dana ObligasiSeri II Seri II

Reksadana Terproteksi Reksadana Terproteksi Mandiri Seri 129 Mandiri Seri 129

Reksadana Kisi Money Reksadana Kisi MoneyMarket Fund Market Fund

Reksadana Penyertaan Reksadana PenyertaanTerbatas Danareksa Terbatas Danareksa Pendapatan Tetap Pendapatan TetapIndonesia Sehat Indonesia Sehat

Reksadana Tram Reksadana Tram Strategic Plus Strategic Plus

Reksadana Terproteksi Reksadana TerproteksiCipta Proteksi IX Cipta Proteksi IX

Reksadana Penyertaan Reksadana PenyertaanTerbatas Cipta Terbatas Cipta Properti Indonesia Properti Indonesia



Jumlah reksadana Total mutual funds

Total shares

- 10.469.353.755 9.821.173 -

Rincian efek ekuitas diperdagangkan nilai wajar adalah sebagaiberikut:

18.397.815

5.000.000

6.199.500

3.457.050

5.000.000

18.397.815

Total unit

-

65.297.585.817 -

20.960.234

-

-

11.000.000

December 31, 2020

Fair value

31 Desember 2020/

31 Desember 2019/

-

Nilai wajar/

111.551.016.383

Fair value

The details of trading equity securities at fair value are asfollows:

3.457.050

53.029.091.045

Fair value

December 31, 2019

Nilai wajar/

31 Desember 2020/

45.849.846

5.085.150.000

Jumlah saham/

Total unit

December 31, 2020Jumlah saham/

Nilai wajar/

Nilai wajar efek ekuitas diperdagangkan didasarkan pada hargapasar efek ekuitas yang tercatat pada tanggal laporan posisikeuangan. Laba/(rugi) belum direalisasi ataskenaikan/(penurunan) nilai wajar saham yang diakui sebagaihasil investasi adalah sebesar nihil dan Rp 46.312.500 pada 31Desember 2020 dan 2019 (Catatan 32).

Fair value

177.023.574.446

5.000.000

31 Desember 2019/

5.222.950.000

118.383.543.110

97.500

29.461.521.612

894.562.500

The fair values of trading equity securities were based on thequoted market price at the statement of financial position date.Unrealized gain/(loss) on increase/(decrease) in fair value ofshares amounting to nil and Rp 46,312,500 for December 31,2020 and 2019, respectively is recognized as investmentincome (Note 32).

23.459.048.100

2.000.000 2.073.962.000

6.206.337.463

2.000.000

102.744.763

5.314.650.000

5.053.216.500

-

-

5.084.900.000 5.000.000

5.027.475.000

32.335.771.439

6.199.500

-

Nilai wajar/

10.812.996.700

Total shares

5.000.000

2.102.734.800

December 31, 2019

8.894.421.963

11.129.938.600

7.846.400.288

5.481.669.775

Jumlah unit/

5.000.000

102.744.763

34.004.052

11.000.000

Jumlah unit/

352.300.159.904

55




Efek beragunan aset Asset backed securitiesPihak ketiga Third parties

PT Indonesia Power PT Indonesia Power KIK EBA IP PLN KIK EBA IP PLN Seri A Tahun 2017 Seri A Tahun 2017

Pihak ketiga Third partiesObligasi Pemerintah Government Bonds

FR 070 FR 070Obligasi Berkelanjutan I Obligasi Berkelanjutan I

Sarana Multi Sarana MultiInfrastruktur Tahap II Infrastruktur Tahap IITahun 2017 Seri C Tahun 2017 Seri C

Obligasi Pemerintah Government BondsFR 076 FR 076

Obligasi I Kereta Api Obligasi I Kereta ApiIndonesia Tahun Indonesia Tahun2017 Seri B 2017 Seri B

Obligasi Berkelanjutan Obligasi BerkelanjutanIII Waskita Karya III Waskita Karya Tahap II Tahun Tahap II Tahun 2018 Seri B 2018 Seri B

Pihak ketiga Third partiesObligasi Pemerintah Government Bonds

FR 070 FR 070Obligasi Berkelanjutan I Obligasi Berkelanjutan I

Sarana Multi Sarana MultiInfrastruktur Tahap II Infrastruktur Tahap IITahun 2017 Seri C Tahun 2017 Seri C

Obligasi I Kereta Api Obligasi I Kereta ApiIndonesia Tahun Indonesia Tahun2017 Seri B 2017 Seri B

Jumlah (dipindahkan) Total (carried forward)

15-May-48

15-Mar-24 94.000.000.000

2.981.610.000

25.000.000.000

Nilai tercatat/Tingkat bunga/

3.000.000.000

7,38%

Nilai nominal/

Maturity date

94.000.000.000

Interest rate Maturity date 2020

8,38%

144.724.048.100

129.000.000.000

2019

Nilai tercatat/

Interest rate

10.000.000.000 10.214.542.600

8,25%

791.872.312

10.358.466.100

7,60%

10.564.673.000

142.000.000.000

Interest rate

130.919.770.850

95.504.752.000

Jatuh tempo/

31 Desember 2019/ December 31, 2019

23-Feb-23

1.197.332.141

15-Mar-24

Maturity date

10.000.000.000

95.146.142.000

15-Nov-22

21-Nov-24

25.673.157.000

Tingkat bunga/ Jatuh tempo/

10.000.000.000

Nilai nominal/

8,25%

8,38%

Nominal value Carrying value


Tingkat bunga/ Nilai tercatat/ Carrying value

Carrying valueNominal value

Laba/(rugi) belum direalisasi atas kenaikan/(penurunan) nilaiwajar reksadana yang diakui sebagai hasil investasi pada 31Desember 2020 dan 2019 masing-masing adalah sebesarRp 12.303.299.051 dan Rp 15.144.994.267 (Catatan 32).

Unrealized gain/(loss) on increase/(decrease) in fair value ofmutual fund as of December 31, 2020 and 2019 amounting toRp 12,303,299,051 and Rp 15,144,994,267, respectively isrecognized as investment income (Note 32).

Jatuh tempo/

8,02% 19-Sep-22

7,60% 15-Nov-22 25.000.000.000 25.200.476.250

8,25% 21-Nov-24

56




Pihak ketiga Third parties

Jumlah (pindahan) Total (brought forward)Obligasi Pemerintah Government Bonds

FR 076 FR 076Obligasi Berkelanjutan Obligasi Berkelanjutan

III Waskita Karya III Waskita Karya Tahap II Tahun Tahap II Tahun 2018 Seri B 2018 Seri B

Saham Shares

Pihak berelasi (Catatan 37) Related parties (Note 37)PT Bank Nationalnobu PT Bank Nationalnobu

Tbk TbkPT Lippo Karawaci Tbk PT Lippo Karawaci TbkPT Matahari Putra PT Matahari Putra

Prima Tbk Prima Tbk

Jumlah saham Total shares

Reksadana Mutual fund

Pihak ketiga Third partiesReksadana Terproteksi Reksadana Terproteksi

Mandiri Seri 109 Mandiri Seri 109

Total unit

455.414.966.116

Nilai aset bersih/

Nilai pasar/

278.299.147.500

Nilai pasar/

11.659.703.976

December 31, 2020

Market value

Nilai aset bersih/

5.027.500.000

31 Desember 2019/

413.966.730.379

5.000.000

Net asset value

December 31, 2020 December 31, 2019

Net aset value

31 Desember 2019/ December 31, 2019Tingkat bunga/ Jatuh tempo/

337.332.300

31 Desember 2020/

23-Feb-23 3.000.000.000 3.000.900.000

Nilai nominal/

Jumlah unit/

337.332.300

129.000.000.000

8.744.788.500

Unrealized gain/(loss) on increase/(decrease) in fair value ofbonds as of December 31, 2020 and 2019 amounting toRp 1,113,920,150 and Rp 3,139,474,000, respectively arerecognized as investment income (Note 32).

5.053.200.000

Nilai tercatat/

7,38% 15-May-48 10.000.000.000 9.689.457.100

31 Desember 2019/

5.000.000

143.529.515.140

Jumlah saham/

Rincian efek yang tersedia untuk dijual adalah sebagai berikut:

December 31, 2019Jumlah saham/

83.283.700

300.225.747.000 593.097.170 593.097.170 126.922.794.379

Interest rate

83.283.700

Maturity date Nominal value Carrying value

142.000.000.000 143.610.127.950

Market valueTotal shares Total shares

31 Desember 2020/

Total unit

130.919.770.850

Laba/(rugi) belum direalisasi atas kenaikan/(penurunan) nilaiwajar obligasi yang diakui sebagai hasil investasi pada31 Desember 2020 dan 2019 adalah masing-masing sebesarRp 1.113.920.150 dan Rp 3.139.474.000 (Catatan 32).

8,25%

The details of available for sale equity securities are asfollows:

Jumlah unit/

57




Dana investasi real estat Real estate investment trust

Pihak ketiga Third partiesFirst REIT First REIT

Saldo awal – sebelum Beginning balance -pajak penghasilan tangguhan before deferred income tax

Penambahan keuntungan (kerugian)yang belum direalisasi Additional unrealized gains (losses)selama tahun berjalan - neto during the year - net

Jumlah sebelum pajak Ending balance before deferredpenghasilan tangguhan income tax

Pajak penghasilan tangguhan Deferred income tax

Saldo akhir - neto Ending balance - net

Pihak ketiga Third partiesObligasi Government

Pemerintah BondsFR 061 FR 061

Obligasi GovernmentPemerintah BondsFR 052 FR 052


Obligasi GovernmentPemerintah BondsFR 047 FR 04710%

Carrying value

908.603.617

26.814.418.835

40.000.000.000

26.373.680.000

15-Aug-30

Maturity date Nominal value

Nilai aset bersih/ Jumlah unit/ Nilai aset bersih/Total unit Net asset value Total unit

(49.983.378.605)

39.970.221.343

Nilai tercatat/

Interest rate

53.837.103

Perubahan keuntungan/(kerugian) yang belum direalisasi atasefek-efek dalam kelompok tersedia untuk dijual adalah sebagaiberikut:

27.000.000.000

10.380.000.000

39.581.986.000

The details of bonds classified as held to maturity investmentsare as follows:

15-May-22

(53.755.765.474)

Acquisition cost

- 90.656.318.286

1.000.000.000 15-Feb-28

1.990.528.000


10.256.115.613

(3.813.835.107)

10,50%

2019

December 31, 2020 December 31, 2019

(3.826.223.972)

Jatuh tempo/

31 Desember 2019/

Tingkat bunga/

(53.809.602.577) (3.826.223.972)

31 Desember 2020/

- 8.828.036

Rincian obligasi jatuh tempo diklasifikasikan sebagai dimilikihingga jatuh tempo adalah sebagai berikut:

7,00%

2.000.000.000 1.991.083.278

Movement of unrealized gains /(losses) for available-for-salemarketable securities were as follows:

837.778.000

Net aset value

15-Jun-35

(61.076.391.322)

10.000.000.000

12.388.865

2020

Jumlah unit/

57.250.167.350

7,50%

Nilai nominal/ Biaya perolehan/

58




Pihak ketiga Third partiesObligasi Government

Pemerintah BondsFR 061 FR 061




Rupiah Indonesian RupiahDolar Singapura Singapore Dollar

Jumlah Total

900.261.653 15-Feb-28

15-Jun-35 2.000.000.000 1.990.528.000 1.990.724.717

90.656.318.286

10,50% 15-Aug-30

26.683.894.056

10.000.000.000 10.380.000.000 10.272.747.622

Nominal value

1.000.000.000 837.778.000

Tingkat bunga/

15-May-22 27.000.000.000 26.373.680.000

10%

956.780.532.038


Maturity date

956.780.532.038 -

913.697.709.487

Jatuh tempo/ Nilai nominal/ Biaya perolehan/ Nilai tercatat/

2020 2019

Interest rate Carrying value

40.000.000.000 39.581.986.000 39.847.628.048

Acquisition cost

Pada tahun 2020 dan 2019, Obligasi Pemerintah FR 047, FR052, FR 061, dan FR 080 sebesar Rp 40.000.000.000merupakan dana jaminan Grup dalam bentuk ObligasiPemerintah sesuai dengan Peraturan Otoritas Jasa KeuanganNo. 71/POJK.05/2016 tanggal 28 Desember 2016penyempurnaan atas Peraturan Menteri Keuangan RepublikIndonesia No. 53/PMK.010/2012 tanggal 3 April 2012 dimanaPerusahaan wajib membentuk dana jaminan dengan jumlahyang lebih besar antara 20% dari ekuitas minimum yangdipersyaratkan atau bagi perusahaan asuransi umum hasilpenjumlahan 1% dari premi neto ditambah 0,25% dari premireasuransi ditambah 2% dari cadangan atas PAYDI (ProdukAsuransi Yang Dikaitkan Dengan Investasi) dan bagiperusahaan asuransi jiwa adalah hasil penjumlahan 2% daricadangan atas PAYDI ditambah 5% dari cadangan premi untukproduk selain PAYDI dan cadangan atas premi yang belummerupakan pendapatan.

7,00%

7,50%

823.041.391.201

Efek berdasarkan mata uang adalah sebagai berikut: Marketable securites by currency are as follows:

Government Bonds FR 047, FR 052, FR 061 and FR 080amounting to Rp 40,000,000,000 in 2020 and 2019 are theGroup’s guarantee fund in the form of Government Bonds inaccordance with Regulation of Financial Services AuthorityNo. 71/POJK.05/2016 dated December 28, 2016 improvementof Regulation of the Minister of Finance of the RepublicIndonesia No. 53/PMK.010/2012 dated April 3, 2012 in whichCompany required to form guarantee fund the greater amountbetween 20% of the minimum equity required or for generalinsurance companies is the sum of 1% of net premium by0.25% of reinsurance premiums and 2% of reserves ofinsurance products associated with investment and for lifeinsurance companies is the sum of 2% of reserves ofinsurance products associated with investment and 5% ofreserves except for insurance products associated withinvestment and unearned premium reserves.

59



c. Penyertaan saham (lanjutan) c. Investment in stocks (continued)

Metode biaya Cost method

PT Reasuransi Maipark PT Reasuransi MaiparkIndonesia Indonesia

Konsorsium Asuransi atas Konsorsium Asuransi atasRisiko Khusus Risiko Khusus

PT Fajar Nusa Langgeng PT Fajar Nusa LanggengSertifikat Dewan Asuransi Sertifikat Dewan Asuransi

Indonesia Indonesia

d. Properti investasi d. Investment property

Biaya perolehan CostTanah LandRuang kantor Office space

Ditambah kenaikan nilai Add revaluation increaseTanah LandRuang kantor Office space

Jumlah properti investasi Total investment property

Saldo awal Beginning balanceLaba kenaikan nilai properti investasi Revaluation of investment properties

(Catatan 32) (Note 32)Reklasifikasi (Catatan 12) Reclassification (Note 12)

Saldo akhir Ending balance

Mutasi properti investasi adalah sebagai berikut: Movements investment property are as follows:

2020 2019

107.273.286.882 108.844.000.000

Percentage of ownership

-

2019

1.009.506.611

- 8.749.775.556

15.779.582.593

2019

16.998.305.000

2.459.931.244

Total

99,99% 99,99%

Sampai dengan 31 Desember 2020 dan 2019, PT Fajar NusaLanggeng belum beroperasi secara komersial dan laporankeuangannya belum dikonsolidasi karena tidak material.

As of December 31, 2020 and 2019, PT Fajar Nusa Langgenghas not commenced commercial operations and its financialstatements have not been consolidated because it is notconsidered material.

Pada tanggal 31 Desember 2020 dan 2019, aset yangdiperkenankan Perusahaan untuk penyertaan saham sebesarmasing-masing Rp 105.588.448.868 dan Rp 103.273.868.889.

As of December 31, 2020 and 2019, Company's admittedassets from investment in shares amounted to Rp105,588,448,868 and Rp 103,273,868,889, respectively.

Jumlah/

107.273.286.882

1,98%

2020

2020

(10.320.488.674)

59.426.295.000 59.387.895.000 18.201.113.837

1.000.000

77.627.408.837

109.733.218.126

1.165.505.611 1.165.505.611

54.999.000

-

100.000.000 100.000.000 -

1.000.000

54.999.000

2019

Persentase kepemilikan/

-

107.273.286.882

2020

75.167.477.593

32.105.809.289

16.998.305.000 15.107.504.289

109.733.218.126

Properti investasi merupakan tanah dan ruang kantor. Saldo per31 Desember 2020 dan 2019 masing-masing adalah sebesarberikut:

Investment properties are land and office space. Balances asof December 31, 2020 and 2019 are as follows:

15.107.504.289

1,98% 1.009.506.611

32.105.809.289

60



d. Properti investasi (lanjutan) d. Investment property (continued)

1. Jenis hak yang melekat pada properti; 1. Type of right on property;2. Kondisi pasar; 2. Market condition;3. Lokasi; 3. Location;4. Karakteristik fisik; 4. Physical characteristics;5. Karakteristik dalam menghasilkan pendapatan; dan 5. Income producing characteristics; and6. Karateristik tanah. 6. Land characteristics.

9. BIAYA DIBAYAR DIMUKA DAN UANG MUKA 9. PREPAID EXPENSES AND ADVANCES

Uang muka AdvancesKomisi CommissionSewa RentLain-lain Others

Jumlah Total


Tanah dan bangunan di atas dinyatakan sebesar nilai wajarnya.

Valuation to determine the fair value of the Group’s land andbuildings as of December 31, 2020 and 2019 was performedby KJPP Areyanti dan KJPP Dedy, Arifin, Nazir & Rekan, anindependent valuer registered in OJK, based on its reportsdated January 6, 2021 and January 20, 2019, respectively.The valuation was determined by reference to recent markettransactions on arm’s length terms. Appraisal method used isvaluation technique based on a discounted cash flow model for the land and market data approach method for the building.Elements used in data comparison process to determineassets fair value are as follows:

768.567.170

Both the land and office space are recorded at their fair value.

809.417.285

2020

Tanah merupakan investasi Grup dalam bentuk kavling denganjumlah luas 18.683 meter persegi yang bertempat di BukitSentul.

Land represents investment of the Group in several parcels ofland totaling 18,683 square meters located at Bukit Sentul.

Penilaian pada nilai wajar tanah dan bangunan yang dimilikiGrup pada 31 Desember 2020 dan 2019 telah dilakukan olehKJPP Areyanti dan KJPP Dedy, Arifin, Nazir & Rekan, penilaiIndependen yang telah teregistrasi pada OJK, berdasarkanlaporannya masing-masing tertanggal 6 Januari 2021 dan 20Januari 2019. Penilaian ditentukan berdasarkan transaksi pasarterkini yang dilakukan dalam ketentuan-ketentuan yang wajar.Metode penilaian yang digunakan menggunakan model aruskas yang didiskontokan untuk tanah dan data pasar untukbangunan. Elemen-elemen yang digunakan dalamperbandingan data untuk menentukan nilai wajar aset, antaralain:

Biaya dibayar dimuka dan uang muka lain-lain terutamamerupakan biaya promosi.

2.628.606.041

2019*)

2.242.317.197 11.218.941.286

15.425.531.782

Office space represents investment of the Group in strata-titleoffice space totaling 1,428.17 square meters located at BeritaSatu Building 2nd floor, Jalan Jenderal Gatot Subroto Kav. 35-36, Setiabudi, South Jakarta.

3.099.603.876

75.305.215

Prepaid expenses and advances others mainly a promotionalcosts.

Ruang kantor merupakan investasi Grup dalam bentuk ruangkantor strata-title dengan luas 1.428,17 meter persegi yangterletak di gedung perkantoran Berita Satu lantai 2, JalanJenderal Gatot Subroto Kav. 35-36, Setiabudi, Jakarta Selatan.

212.892.311 569.089.153

61


10. ASET REASURANSI 10. REINSURANCE ASSETS

Premi yang belum merupakan Reinsurance assets onpendapatan bagian reasuransi unearned premium

Estimasi klaim bagian reasuransi Reinsurance assets on estimated claims

Jumlah Total

a. Premi yang belum merupakan pendapatan bagian reasuransi a. Reinsurance assets on unearned premium

Kebakaran FirePengangkutan Marine CargoKendaraan Bermotor Motor VehiclesKesehatan HealthJiwa & Kematian Life & Health

Others

Jumlah Total

Berdasarkan mata uang adalah sebagai berikut: Classified by currency:

Rupiah Indonesian RupiahDolar AS US DollarEuro EuroDolar Singapura Singapore DollarLain-lain Others

Jumlah Total

b. Estimasi klaim asuransi b. Reinsurance assets on estimated claims

Kebakaran FireMarine Cargo

Kesehatan HealthKendaraan Bermotor Motor VehiclesJiwa & Kematian Life & Health

Others

Jumlah Total

Rupiah Indonesian RupiahDolar AS US DollarEuro EuroDolar Singapura Singapore dollar

Jumlah Total625.735.718.895

5.228.269.468

237.836.672.542

2020

338.788.172

309.518.527.106

2019

2.818.043.741

This account consists of :

598.397.095 59.277.132

140.741.295

246.999.033.733

153.291.256.353

17.085.730.316

206.921.266.670

Berdasarkan mata uang adalah sebagai berikut:

237.836.672.542

20.146.920.545

1.755.057.927 233.337.504

2019

5.994.836.980 4.237.876.720

237.836.672.542

5.051.355.268

1.841.903.929

Akun ini terdiri dari :

2.508.433.567

183.085.929.608

Lain-lain

559.141.946.055

863.572.391.437

2020

Pengangkutan

535.370.560

506.572.904.862

Classified by currency:

625.735.718.895

330.125.818

2019

2019

593.610.009 445.806.226

102.490.395.020 77.200.849.953

183.085.929.608

Lain-lain

784.834.004

70.078.899 41.270.334

183.085.929.608

2020

2020

625.735.718.895 559.141.946.055

2019

742.227.875.663

378.615.662.460

79.752.518.040

(19.718.593)

83.348.444.420 148.309.487.734

3.068.847.878

248.283.485.686

559.141.946.055

97.632.901.995

2020

880.392.021

555.099.259

461.128.289.768

18.932.699.038

17.278.125.288

62


10. ASET REASURANSI (Lanjutan) 10. REINSURANCE ASSETS (Continued)

11. SEWA 11. LEASES

a. Aset hak-guna a. Right-of-use assets

Rincian aset hak-guna adalah sebagai berikut: The details of right-of-use assets are as follows:

Biaya perolehan: Cost:

Bangunan Buildings

Akumulasi depresiasi: Accumulated depreciation:

Bangunan Buildings

Nilai buku Net book value

b. Liabilitas sewa b. Lease liabilities

Saldo awal Beginning balancePenambahan AdditionBeban bunga (Catatan 34) Interest expense (Note 34)Biaya bunga yang masih harus dibayar Accrued expense - interestPembayaran Payment

Saldo akhir Ending balance

Beban bunga (Catatan 34) Interest expense (note 34)Beban terkait sewa jangka pendek Expenses relating to short-term leasesBeban terkait sewa atas aset Expenses relating to leases of

bernilai rendah low-value assetsBeban terkait sewa variabel Expenses relating to variable leases

-

(2.081.590.895)

Pada tanggal 31 Desember 2020 dan 2019, manajemenberpendapat bahwa tidak terdapat penurunan nilai aset reasuransi.

As of December 31, 2020 and 2019, management believes thatthere is no impairment in values of aforementioned reinsuranceassets.

-

2020Saldo awal/

Penambahan/ Pengurangan/ Saldo akhir/balance Additions Deductions Ending balance

-

3.224.437.569 -

2020 2019

379.649.483

- 379.649.483 - -

2.316.658.042 -

-

Beginning

-

Jumlah yang terkait dengan sewa jangka pendek, sewa atasaset bernilai rendah, dan sewa variabel tidak dimasukkansebagai liabilitas sewa berdasarkan sifatnya sebagaimanadibahas pada Catatan 2g.

Amounts related to short-term leases, leases of low-valueassets and variable leases are not required to be included aslease liabilities based on their nature as discussed in Note 2g.

7.093.805.460 - - 7.093.805.460

1.780.294.291 1.793.980.143 - 3.574.274.434

5.313.511.169 3.519.531.026

2020 2019

4.926.378.981 -

Beban penyusutan seluruhnya dicatat sebagai beban umumdan administrasi (Catatan 33).

Depreciation expense was charged to general andadministrative expenses (Note 33).

Laporan laba rugi menyajikan saldo berikut berkaitan dengansewa:

The statements of profit or loss show the following amountsrelated to leases:

50.482.507 - -

63


11. SEWA (Lanjutan) 11. LEASES (Continued)

b. Liabilitas sewa (lanjutan) b. Lease liabilities (continued)

Arus kas dari aktivitas operasi Cash flows from operating activitiesPembayaran kepada pemasok Payment to suppliersPembayaran pada beban keuangan Payment for finance charges

Arus kas dari aktivitas pendanaan Cash flows from financing activitiesPembayaran kembali atas liabilitas sewa Repayments of lease liabilities

12. ASET TETAP 12. FIXED ASSETS

Pemilikan langsung Direct acquisitions

Biaya perolehan: Cost:

Tanah LandBangunan BuildingsKendaraan Bermotor Motor vehiclesPeralatan kantor Office equipmentKomputer ComputerPrasarana kantor Leasehold improvement

Akumulasi penyusutan: Accumulated depreciation:

Bangunan BuildingsKendaraan Bermotor Motor vehiclesPeralatan kantor Office equipmentKomputer ComputerPrasarana kantor Leasehold improvement

Nilai buku Book value

Pemilikan langsung Direct acquisitions

Biaya Perolehan Cost

Tanah LandBangunan BuildingsKendaraan Bermotor Motor vehiclesPeralatan kantor Office equipmentKomputer ComputerPrasarana kantor Leasehold improvement

Akumulasi penyusutan Accumulated depreciation

Bangunan BuildingsKendaraan Bermotor Motor vehiclesPeralatan kantor Office equipmentKomputer ComputerPrasarana kantor Leasehold improvement

Nilai buku Net book value

*) Reklasifikasi atas properti investasi (lihat catatan 8d) Reclassification of investment properties (see note 8d) (*

2.677.981.803

(2.367.140.549) -

8.772.953.301

- -

- 287.700.000

2.389.638.222

2.088.023.008

16.048.846.686 9.254.933.453

11.339.960.023 8.531.438.421 2.669.381.784

115.740.656.780

18.633.337.421

54.529.490.660

59.931.111.698

10.386.202.058

1.546.713.198 479.901.814 63.211.262

-

2.089.826.274

2020Saldo awal/ Saldo akhir/

Ending balancePenambahan/

Beginning balance

(379.649.483)

10.320.488.674

10.320.488.674

61.211.166.120

2.584.490.735

107.775.672.065

478.163.300 2.276.689.920 63.146.510

47.844.560.367

14.011.383.556 20.647.826.002 3.051.925.384

16.111.832.793

Penambahan/

37.351.643.916

Saldo awal/2019

3.051.925.384

6.162.568.000 55.467.421.045

13.970.419.609 14.143.741.248

41.712.464.138

- -

15.268.907.769 55.467.421.045

43.205.075.343

Reclassifications*)Beginning balance Additions

2.665.557.535

55.755.121.045

-

1.546.713.198 1.046.850.253

-

8.120.743.487

6.162.568.000 7.795.288.455

-

9.254.933.453

Saldo akhir/

3.879.665.000

11.339.960.023 2.289.042.217

Ending balance

13.681.108.619 14.143.741.248

10.054.810.989

11.908.646.976 10.744.981.831

6.162.568.000

10.263.456.669

Additions

2.856.322.374

2.807.976.184 243.949.200 -

107.775.672.065

7.871.897.746

84.917.539.481

13.562.433.713

(1.701.941.412)

The statements of cash flows show the following amountsrelated to leases:

2020 2019

-

3.051.925.384

16.702.306.900

2.486.412.973 16.048.846.686

Laporan arus kas menyajikan saldo berikut berkaitan dengansewa:

6.162.568.000

186.940.590 -

347.544.122 7.029.928.645

DeductionsPengurangan/

1.355.494.525

- 15.268.907.769 14.361.475.103 2.117.846.710

59.931.111.698

7.547.043.164

- 13.681.108.619

47.844.560.367

1.442.230.553

3.481.258.463

12.101.882.155 8.531.438.421

2.121.818.565 547.563.219 2.669.381.784

-

-

- - - - -

- 906.006.510

2.117.416.657 457.835.296

-

Reklasifikasi/Deductions

Pengurangan/

1.367.069.375 2.335.580.565

462.013.050

4.164.662.990

- -

-

64


12. ASET TETAP (Lanjutan) 12. FIXED ASSETS (Continued)

Harga jual Sales proceedNilai buku Book value

Laba penjualan aset tetap (Catatan 34) Gain on the sale of fixed assets (Note 34)

13. ASET TAK BERWUJUD 13. INTANGIBLE ASSETS

Biaya perolehan Cost:

Perangkat lunak Software

Akumulasi amortisasi Accumulated amortization

Perangkat lunak Software


Depreciation expense was charged to general and administrativeexpenses.

683.404.527

Pada tahun 2020 dan 2019 Grup melakukan penjualan aset tetapdengan rincian sebagai berikut :

Land pertains to Rights to Build and Use the Building (HGB).These rights will expire on November 26, 2040, September 2,2024, March 30, 2024, March 31, 2024, January 22, 2032, April 6,2028, March 28, 2024, and October 20, 2028. Referencing tohistorical practices, the Group believes that they can renew thoseHGBs.

Seluruh aset tetap yang ada pada tanggal pelaporan digunakanuntuk menunjang aktivitas operasi Grup. Pada tanggal 31Desember 2020 dan 2019 jumlah tercatat bruto dari setiap asettetap yang telah disusutkan penuh dan masih digunakanmasing-masing sebesar Rp 27.546.384.166 dan Rp19.189.158.960.

2.061.412.005

Seluruh hak atas tanah merupakan hak guna bangunan yang akanberakhir pada tanggal 26 Nopember 2040, 2 September 2024,30 Maret 2024, 31 Maret 2024, 22 Januari 2032, 6 April 2028,28 Maret 2024 dan 20 Oktober 2028. Mengacu pada praktek dimasa lampau, Grup memiliki keyakinan dapat memperpanjangHGB tersebut.

Berdasarkan evaluasi manajemen Grup, tidak terdapat kejadian-kejadian atau perubahan-perubahan keadaan yangmengindikasikan adanya penurunan nilai aset tetap Grup.

2019

All of the fixed assets as of the reporting date are fully used tosupport the Group operation activities. As of December 31, 2020and 2019, the gross carrying amount of all fixed assets thathas been fully depreciated and still in use amounted toRp 27,546,384,166 and Rp 19,189,158,960, respectively.

Based on the review of the Group's management, there are noevents or changes in circumstances which may indicateimpairment of assets value.

6.061.775.311

16.273.082.541

Saldo akhir/

665.000.001

2020

10.211.307.230

663.196.735

-

In 2020 and 2019, the Group’s sold fixed assets with details asfollows:

2020Penambahan/Saldo awal/

Beban penyusutan seluruhnya dicatat sebagai beban umum danadministrasi.

Ending balanceBeginning balance

8.149.895.225

Pengurangan/

1.031.709.180

598.774.425

-

7.091.478.136

1.282.178.952

Aset tetap tertentu, kecuali tanah, diasuransikan terhadap risikokerugian karena kebakaran dan lainnya dengan nilaipertanggungan per 31 Desember 2020 dan 2019 masing-masingsebesar Rp 244.551.592.801 dan Rp 654.631.077.664 menurutmanajemen memadai untuk menutupi kemungkinan kerugian atasaset yang dipertanggungkan.

Certain fixed assets, except land, are covered by insuranceagainst losses by fire and other risk under blanket policies. As ofDecember 31, 2020 and 2019, insurance coverage amounted toRp 244,551,592,801 and Rp 654,631,077,664. The managementis of the opinion that the amount is adequate to cover the possiblelosses arising from such risks.

1.803.266

Additions Deductions

15.241.373.361

65


13. ASET TAK BERWUJUD (Lanjutan) 13. INTANGIBLE ASSETS (Continued)

Biaya Perolehan Cost:

Perangkat Lunak Software

Akumulasi amortisasi Accumulated amortization

Perangkat Lunak Software


14. ASET LAIN-LAIN 14. OTHERS ASSETS

Uang jaminan Refundable depositsUang muka pembelian aset tetap Advances for fixed assets purchasesLain-lain Others

Jumlah Total

15. UTANG KLAIM 15. CLAIM PAYABLES


Kesehatan HealthKebakaran FireJiwa dan Kematian Life and DeathKendaraan Bermotor Motor Vehicles

Marine CargoOthers

Jumlah Total

b. b.

Kurang dari 60 hari Less than 60 daysLewat jatuh tempo 60 - 90 hari Overdue for 60-90 daysLewat jatuh tempo lebih dari 90 hari Overdue for more than 90 days

Jumlah Total

2.225.177.772

459.770.968 299.227.365

1.794.292.943

1.334.659.676

1.003.784.163

Saldo akhir/

8.539.903.082

-

11.069.169.301

-

1.293.169.675

8.149.895.225

- 776.752.826 14.464.620.535

Pengurangan/Additions

Claims payable represents approved claims based on DefiniteLoss Advice with or without advice from adjuster.

(62.268.913) 9.815.639.148

Ending balance

193.080.565 1.060.449.588

6.505.979.289 5.865.272.783

Deductions

Berdasarkan umur

Lain-lain 5.756.274.149

15.241.373.361

2019Penambahan/

7.091.478.136

1.850.235.395

17.105.872.604 11.069.169.301

2019

1.098.831.018

2020

3.392.445.513

2019

2.116.296.199

2019

16.164.357.354

5.924.717.453

By age

2020

696.123.654

Beginning balance

17.105.872.604

689.475.538 5.986.387

84.638.450

5.986.387

2020

1.067.307.838

Pengangkutan

Merupakan utang atas klaim yang disetujui yaitu berdasarkanLaporan Kerugian Pasti dengan atau tidaknya laporan dari pihakpenilai.

1.148.125.354

Saldo awal/

66


15. UTANG KLAIM (Lanjutan) 15. CLAIM PAYABLES (Continued)

c. Berdasarkan tertanggung dan asuradur c. By insured and ceding company

Pihak ketiga Third PartiesPT Tenaga Listrik Gorontalo PT Tenaga Listrik GorontaloPT Multi Anugerah Lestari Texindo PT Multi Anugerah Lestari TexindoPT Siloam Hospitals International Tbk PT Siloam Hospitals International TbkRumah Sakit Pondok Indah Rumah Sakit Pondok IndahPT Japfa Comfeed Indonesia Tbk PT Japfa Comfeed Indonesia TbkLainnya (masing-masing Others (each account


Pihak berelasi (Catatan 37) Related parties (Note 37)PT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Lippo Karawaci Tbk PT Lippo Karawaci TbkPT Aon Indonesia PT Aon IndonesiaPT Matahari Putra Prima Tbk PT Matahari Putra Prima Tbk

Jumlah Total


Rupiah Indonesian RupiahDolar AS US DollarDolar Singapura Singapore Dollar

Jumlah Total

16. UTANG REASURANSI 16. REINSURANCE PAYABLES

a. Berdasarkan jenis asuransi a. by reinsurers

Kebakaran FireJiwa dan Kematian Life and death

Marine CargoKesehatan HealthKendaraan Bermotor Motor Vehicles

Others

Jumlah Total

17.105.872.604

2020

Lain-lain

6.854.421.452

16.846.621.576

2020

Reinsurance payables are liabilities to the reinsurers forpremiums, commissions and claims.

541.845.370

21.486.530

1.195.920.227

2019

139.184.754.908 91.430.984.053

48.276.057 5.143.341

5.743.345.494

6.544.962.062 1.068.693.762

347.706.797

156.014.817

700.416.900

482.421.560

8.694.929.896 9.117.584.990

2019

1.157.168.525

11.069.169.301

392.639.348

581.573.566

2019

6.082.500.284

10.368.752.401

1.491.040

662.755.339

6.082.133.656 4.190.945.055

2020

160.930.886.067 108.760.958.228

17.105.872.604

11.069.169.301

Merupakan liabilitas kepada reasuradur sehubungan denganpremi, komisi dan klaim.

7.832.519

16.515.751.177 10.716.319.163

29.829.042 234.480.537

259.251.028

Pengangkutan

4.725.000.000

665.721.058 1.859.136.360

- -

503.560.194 192.807.005

1.792.921 -

67


16. UTANG REASURANSI (Lanjutan) 16. REINSURANCE PAYABLES (Continued)

b. b.

Kurang dari 60 hari Less than 60 daysLewat jatuh tempo 60 - 90 hari Overdue for 60-90 daysLewat jatuh tempo lebih dari 90 hari Overdue for more than 90 days

Jumlah Total

c. Berdasarkan mata uang c. By currency

Rupiah RupiahDolar AS US DollarDolar Singapura Singapore DollarEuro EuroDolar Australia Australian DollarLain-lain Others

Jumlah Total

d. Berdasarkan reasuradur d. By reinsurers

Pihak ketiga Third PartiesPT Reasuransi Nasional Indonesia PT Reasuransi Nasional IndonesiaAon Benfield Asia Pte Ltd Aon Benfield Asia Pte LtdPT Jaya Proteksindo Sakti Reinsurance PT Jaya Proteksindo Sakti ReinsurancePT Simas Reinsurance Brokers PT Simas Reinsurance BrokersSwiss Reinsurance Company Ltd Swiss Reinsurance Company LtdTrinity Reinsurance Brokers Limited Trinity Reinsurance Brokers LimitedPT Reasuransi Indonesia Utama (Persero) PT Reasuransi Indonesia Utama (Persero)PT Asuransi Kredit Indonesia PT Asuransi Kredit IndonesiaPT Tugu Reasuransi Indonesia PT Tugu Reasuransi Indonesia Aon Singapore (Broking Centre) Pte Ltd Aon Singapore (Broking Centre) Pte LtdPT IBS Reinsurance Brokers PT IBS Reinsurance BrokersPT Maskapai Reasuransi Indonesia Tbk PT Maskapai Reasuransi Indonesia TbkHannover Rueck SE Hannover Rueck SEPT Mitra Utama Reasuransi PT Mitra Utama ReasuransiPT Asuransi Multi Artha Guna Tbk PT Asuransi Multi Artha Guna TbkPT Reasuransi Maipark Indonesia PT Reasuransi Maipark IndonesiaPT Asuransi Astra Buana PT Asuransi Astra BuanaMunich Re Munich RePT Asuransi Jasa Indonesia PT Asuransi Jasa IndonesiaWilliam Russell Limited William Russell LimitedPT Marsh Indonesia PT Marsh IndonesiaLainnya (masing-masing Others (each account

di bawah Rp 1.000.000.000) below Rp 1,000,000,000)

Pihak berelasi (Catatan 37) Related party (Note 37)PT Aon Reinsurance Brokers Indonesia PT Aon Reinsurance Brokers Indonesia

(d/h PT Aon Benfield Indonesia) (formerly PT Aon Benfield Indonesia)

Jumlah Total

10.123.814.001

1.438.112.720 624.717.984 1.297.848.525 88.525.941

1.219.438.244 - 1.199.049.820 - 1.085.901.879 1.052.380.807

- -

1.333.191.018

2.105.408.253

4.361.168.992

160.930.886.067

11.692.236.469

6.801.293.342

1.278.798.334

3.192.601.796

4.195.970.180

2.965.612.500

984.806.614

4.967.451.889

1.269.347.513 1.611.816.647

3.376.252

21.055.200.475

108.760.958.228

57.753

139.492.096.187 95.102.303.081 1.063.464.633

68.021.375.500

2020

15.317.933.796

25.573.324.155 17.030.075.481

710.565.645

3.338.988.934

18.755.995.376

15.790.292.268

108.760.958.228

156.734.915.887 99.817.807.986

12.595.190.514

160.930.886.067

Berdasarkan umur By age

2020 2019

15.418.435.140 8.278.968.270

23.772.177.519

2019

2.628.117

816.678.501

2.261.778.635

160.930.886.067 108.760.958.228

2.290.753.846

-

39.519.757.109

1.977.323.902 4.619.176.391

5.982.484.887

2020

1.344.943.440

505.825.969

109.884.188.634 48.894.199.797

8.943.150.242

1.028.722.052 20.410.067.828

-

2019

10.822.247.798

1.918.762.095 1.643.529.195

68


17. UTANG KOMISI 17. COMMISSIONS PAYABLE

a. Berdasarkan agen dan broker a. By agent and brokers

Pihak ketiga Third Parties

PT Marsh Indonesia PT Marsh IndonesiaPT Nusantara Insurance Broker & PT Nusantara Insurance Broker &

Consultant ConsultantPT Howden Insurance Brokers Indonesia PT Howden Insurance Brokers IndonesiaBapak Djohan Mr DjohanPT Cipta Integra Duta PT Cipta Integra DutaLainnya (masing-masing Others (each account


Pihak berelasi (Catatan 37) Related Parties (Note 37)

PT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Aon Indonesia PT Aon Indonesia

Jumlah Total

b. Berdasarkan mata uang b. By currency

Rupiah RupiahDolar AS US DollarLain-lain Others

Jumlah Total

18. UANG PREMI JANGKA PANJANG 18. DEFERRED PREMIUM INCOME

19. LIABILITAS KONTRAK ASURANSI 19. INSURANCE CONTRACTS LIABILITIES

This account consists of:

Premi yang belum merupakan pendapatan Unearned premiumsEstimasi klaim Estimated claims

Jumlah Total

11.908.293 3.409.546

2019

4.436.584.844 5.837.994.416

403.978.829

85.441.837 293.362.815

Akun ini terdiri dari:

1.368.656.817.132

2020

2.064.577.076

5.837.994.416

2019

719.279.793.367

123.309.328

306.561.593

1.572.910.372.263

702.402.545

2.593.373.754

1.994.009.896

587.258.539

2020

2019

744.401.106.467 649.377.023.765 828.509.265.796

Akun ini merupakan pendapatan premi diterima dimuka untuk polisdengan periode pertanggungan lebih dari 1 (satu) tahun.

2020

1.292.907.146

2.551.077.374

4.436.584.844

This account represents advance premiums income received inadvance for Program coverage with periods of more than one (1)year.

538.838.473

1.439.232.261

402.606.440

1.250.857.341

1.843.211.090 3.286.917.042

Saldo per 31 Desember 2020 dan 2019 masing-masing sebesarRp 2.881.413.715 dan Rp 3.188.193.590.

As of December 31, 2020 and 2019, the balance of this accountamounted to Rp 2,881,413,715 and Rp 3,188,193,590,respectively.

3.845.916.759 3.761.509.047

300.442.886 104.813.742

905.162.078 130.652.050

69


19. LIABILITAS KONTRAK ASURANSI (Lanjutan) 19. INSURANCE CONTRACTS LIABILITIES (Continued)

a. Premi yang belum merupakan pendapatan bruto a. Gross unearned premiums

Kebakaran FireKesehatan HealthKendaraan bermotor Motor vehiclesJiwa dan Kematian Life and deathPengangkutan Marine cargoLain-lain Others

Jumlah Total

b. Estimasi klaim bruto b. Gross estimated claims

Kebakaran FireKesehatan HealthPengangkutan Marine cargoKendaraan bermotor Motor vehicles

Life and deathLain-lain Others

Jumlah Total

1. 1.

2. 2.

3. 3.

4. 4.

719.279.793.367

27.603.977.691 10.390.287.283

This account includes Incurred But Not Reported (IBNR) claimsamounting to Rp 34,705,832,335 and Rp 46,281,670,370 as ofDecember 31, 2020 and 2019, respectively.

Method used in calculating insurance contracts liability:

10.195.042.271

Best estimate method for the calculation of Incurred But NotReported (IBNR) claims.

2020

199.358.774.629

828.509.265.796

Dalam estimasi klaim termasuk estimasi atas klaim yang sudahterjadi namun belum dilaporkan (IBNR) masing-masing sebesarRp 34.705.832.335 dan Rp 46.281.670.370 pada 31 Desember2020 dan 2019.

5.946.416.827

Metode estimasi sentral atau terbaik terkini untuk menghitungestimasi atas klaim yang sudah terjadi namun belum dilaporkan(IBNR).

Metode Loss Ratio digunakan untuk menghitung cadanganatas risiko yang belum dijalani.

65.803.951.734

76.943.860.394

536.397.460.495

649.377.023.765

Metode Harian atau Daily Method untuk perhitungan cadanganatas premi yang belum merupakan pendapatan.

31.103.284.917

215.735.683.104

Jiwa dan Kematian

50.965.970.385

Daily Method for the calculation reserves of unearnedpremiums.

Metode Gross Premium Valuation untuk pertanggungan jangkapanjang.

2020

54.706.484.952

744.401.106.467

585.650.856.010

Loss Ratio method used to calculate for the provision of risksthat have not undertaken.

Metode yang digunakan dalam menghitung tingkat liabilitas kontrakasuransi:

354.116.505.705

2019

7.298.514.337

133.573.912.336 98.751.528.688

262.136.119.688

59.203.258.010

771.194.416

22.003.352.100

2019

31.105.841.563

96.123.386.106

Gross Premium Valuation method for long-term insurancecoverage.

5.681.525.754

70


19. LIABILITAS KONTRAK ASURANSI (Lanjutan) 19. INSURANCE CONTRACTS LIABILITIES (Continued)

b. Estimasi klaim bruto (lanjutan) b. Gross estimated claims (continued)

Jenis Asuransi By insurance

Kebakaran FireKendaraan bermotor Motor vehiclesRekayasa EngineeringPengangkutan Marine cargoTanggung gugat LiabilityKecelakaan diri General accidentAneka Miscellaneous

Jenis Asuransi By insurance

Kebakaran FireKendaraan bermotor Motor vehiclesRekayasa EngineeringTanggung gugat LiabilityKecelakaan diri General accidentAneka Miscellaneous

20. LIABILITAS IMBALAN KERJA 20. EMPLOYEE BENEFITS LIABILITY

a. Imbalan kerja karyawan jangka pendek a. Short-term employee benefits

46,99%

2,75%

9,06%

4,09%

11,27% 36,95%

Short-term employee benefits include profit sharing andbonuses that are payable within three months after thefinalization of the audited financial statements.

5,68%20,84%

Perhitungan Tes Kecukupan Liabilitas dilakukan oleh aktuarisindependen Kantor Konsultan Aktuaria Enny Diah Awal dan PTBestama Aktuaria dengan Laporan No. 20130/LGI/DF/03/2021tanggal 19 Maret 2021 untuk tahun 2020 dan No.19073/LGI/DF/01/2020 tanggal 31 Januari 2020 untuk tahun 2019.

9,06%3,35%

9,06%

5,68%

3,35%

9,06%


Assumptions used in calculating long term insurance claims:

5,68%

9,06%

Amount of profit and bonuses to be shared by Group woulddepend on several factors such as, achievement of salestargets, cost efficiency, profitability and Group’s plan for futureexpansion.

1,52%

2,07%

13,58%

Asumsi yang digunakan dalam menghitung tingkat klaim asuransijangka panjang:

11,27% 27,96%

33,58% 5,68%

11,27%

3,65%

Discount rate

InflationExpense ratio

5,68%

2,75%

66,49%

Claim ratio

10,33%

3,65%

3,35%9,06%

9,06%

Liability Adequacy Test (LAT) is calculated by an independentactuary, Consultant Actuary Firm Enny Diah Awal and PTBestama Aktuaria, based on its report No. 20130/LGI/DF/03/2021dated March 19, 2021 and report No. 19073/LGI/DF/01/2020dated January 31, 2020 for 2019, respectively.

Expense ratio

28,87%3,35%

Besarnya laba dan bonus yang akan dibagikan Grup akansangat tergantung pada beberapa hal, yaitu, pencapaian targetpenjualan, efisiensi biaya, profitabilitas dan perencanaanekspansi Grup di masa mendatang.

10,43% 3,35%

Tingkat kesalahan/ Inflasi/

0,00% 2,75%

11,27% 31,42%

10,65%

3,35%

Rasio biaya/ Rasio klaim/31 Desember 2019/ December 31, 2019

13,57%

2,75%

3,65% 0,17% 2,75%

Tingkat diskon/Discount rate

2,75%

Lapse level

Rasio biaya/

1,78%

44,46%

3,65%

11,27%3,65%

Tingkat kesalahan/Claim ratio

Imbalan kerja karyawan jangka pendek merupakan provisi bagilaba dan bonus yang akan dibayarkan tiga bulan setelahfinalisasi laporan keuangan auditan ini.

Rasio klaim/ Tingkat diskon/Lapse level

2,75%

5,68% 1,81%

11,27%

6,51%

Inflasi/

3,65%3,65%35,75%

6,89%

6,37%

11,27%

Inflation

71


20. LIABILITAS IMBALAN KERJA (Lanjutan) 20. EMPLOYEE BENEFITS LIABILITY (Continued)

a. Imbalan kerja karyawan jangka pendek (lanjutan) a. Short-term employee benefits (continued)

Pada awal tahun At the beginning of the yearDibebankan pada laporan laba rugi: Charged to profit or loss:

Tambahan provisi Additional provisionImbalan yang dibayar Benefits paid

Pada akhir tahun At the end of the year

b. Imbalan pasca kerja karyawan b. Post employment benefit

i) i)

Perusahan CompanyNilai kini kewajiban yang didanai Present value of funded obligationNilai wajar aset program Fair value of plan assets

Anak Perusahaan SubsidiaryNilai kini kewajiban yang didanai Present value of funded obligation

(Surplus)/defisit program yang didanai (Surplus)/deficit of funded plans

ii) ii)

Perusahan CompanyPada awal tahun Beginning balanceBiaya jasa kini Current service costBiaya bunga Interest cost

Pengukuran kembali: Remeasurements:

Dampak perubahan asumsi keuangan Effects of changes in financial assumptionsDampak perubahan demografi Effects of changes in demographicDampak penyesuaian pengalaman Effects of experience adjustments

Pembayaran dari program: Payment from plans:

Pembayaran akhir tahun At the end of the year

336.583 -

2019

(3.112.541.555)

2.873.521.660

The amounts recognized in the consolidated statements offinancial position are determined as follows:

2020

47.936.734.509

(333.803.477)

Grup membukukan imbalan pasca kerja untuk karyawan sesuaidengan Undang-Undang Ketenagakerjaan No. 13 Tahun 2003.Jumlah karyawan Perusahaan yang berhak atas imbalan pascakerja pada 31 Desember 2020 dan 31 Desember 2019 adalah340 orang dan 311 orang. Jumlah karyawan entitas anak yangberhak atas imbalan pasca kerja pada 31 Desember 2020 dan31 Desember 2019 adalah 8 orang dan 10 orang.

(2.237.811.838)

1.642.310.781 1.592.154.852

(3.880.122.619) 8.374.651.465

1.642.310.781 1.592.154.852

17.485.000.000

(7.515.000.000)

(990.281.084)

33.413.042.561

20192020

(32.564.284.414) (51.816.857.128)

Tabel berikut ini merupakan mutasi kewajiban imbalan kerjakaryawan jangka pendek.

The following table is a movement on short-term employeebenefits obligation.

(9.200.000.000)

Group has recorded employee benefits in accordance withLabor Law No.13 Year 2003. Total the Company's employeeswho have entitled rights to employment benefits in December31, 2020 and December 31, 2019 are 340 employees and 311employees, respectively. Total subsidiary's employees whohave entitled rights to employment benefits in December 31,2020 and December 31, 2019 are 8 employees and 10employees, respectively.

3.070.420.191

40.183.499.301

3.273.624.078

3.896.935.080

(2.518.187.500)

40.938.935.879

4.567.725.666

2.778.401.495 4.263.905.162

(306.543.750)

15.000.000.000

47.936.734.509

9.966.806.317

48.577.081.736

Mutasi liabilitas imbalan pasti selama tahun berjalanadalah sebagai berikut:

40.938.935.879

Jumlah yang diakui pada laporan posisi keuangankonsolidasian ditentukan sebagai berikut:

40.938.935.879

The movement in the defined benefit obligation over theyear is as follows:

10.000.000.000

10.000.000.000 9.200.000.000

10.000.000.000

2020 2019

72



b. Imbalan pasca kerja karyawan (lanjutan) b. Post employment benefit (continued)

ii) ii)

Anak Perusahaan SubsidiaryPada awal tahun Beginning balanceBiaya jasa kini Current service costBiaya bunga Interest cost

Pengukuran kembali: Remeasurements:

Dampak perubahan asumsi keuangan Effects of changes in financial assumptionsDampak penyesuaian pengalaman Effects of experience adjustments

Pembayaran dari program: Payment from plans:

Pembayaran akhir tahun At the end of the year

Pada awal tahun At the beginning of the yearPenghasilan bunga Interest incomeKontribusi ContributionPengukuran kembali aset program Remeasurement return on plan assetPembayaran dari program Payment from plans

Pada akhir tahun At the end of the year

Reksadana pendapatan tetap Fixed income mutual fund

Perusahaan Company

Total karyawan Total employeesEstimasi rata-rata sisa masa Estimated average remaining

kerja karyawan working lives of employeesUsia pensiun normal Normal retirement ageTingkat mortalitas Mortality rateTingkat kenaikan gaji Future wages increasesTingkat diskonto Discount rate

(400.812.405) (36.787.562)

- (12.428.000)

1.642.310.781 1.592.154.852

Mutasi liabilitas imbalan pasti selama tahun berjalanadalah sebagai berikut:

The movement in the defined benefit obligation over theyear is as follows:

2020 2019

331.556.720 411.826.211 119.411.614 93.181.723

1.855.532.633 1.197.988.509

51.816.857.128 100%

15.000.000.000

Plan assets consist of the following:

7,5%

2.640.797.558

(45.281.250)

51.816.857.128 32.564.284.414

Aset program terdiri dari:

2.442.321.331

2.043.123.186 1.641.370.414

(400.812.405) 86.218.422 - (123.005.984)

340

Indonesia - III 2011

2020 2019

2020

32.564.284.414

Liabilitas imbalan kerja ditentukan dengan menggunakanmetode Projected Unit Credit dengan asumsi-asumsi sebagaiberikut:

100%

The employee benefits obligation was determined using theProjected Unit Credit method with the following assumptions:

Mutasi nilai wajar aset program selama tahun berjalan adalahsebagai berikut:

32.564.284.414

6,9%

21,14

2019

311

21,11

Indonesia - IV 2019

(1.981.450.000)

-

10% 10%

55 tahun/ years 55 tahun/ years

2020 2019

The movement in the fair value of plan assets is as follows:

1.592.154.852 1.136.362.480

30.706.948.347

73




Anak Perusahaan Subsidiary

Total karyawan Total employeesEstimasi rata-rata sisa masa Estimated average remaining

kerja karyawan working lives of employeesUsia pensiun normal Normal retirement ageTingkat mortalitas Mortality rateTingkat kenaikan gaji Future wages increasesTingkat diskonto Discount rate

Perusahaan Company

31 Desember 2020 December 31, 2020Tingkat diskonto Discount rateGaji Salary





2020 2019

TMII III - 2011

52.785.638.222 52.590.626.084 43.428.542.186

1% kenaikan/ increase

1% penurunan/ decrease

8

55 tahun/ yearsIndonesia - IV 2019

1.955.935.067 2.330.970.488 2.313.346.230 1.967.218.924

1.942.723.676 2.273.468.866 2.266.820.232 1.945.358.717

The Company's provision for post employment benefits wascalculated by an independent actuary, PT Dian Artha Tama,based on its report no. 284/PSAK/DAT/III/2021 dated March4, 2021 for 2020 and report no. 247/PSAK/DAT/II/2020 datedFebruary 21, 2020 for 2019. The Subsidiary's provision forpost employment benefits was calculated by an independentactuary, PT Dian Artha Tama, based on its report no.285/PSAK/DAT/III/2021 dated March 4, 2021 for 2020 andreport no. 248/PSAK/DAT/II/2020 dated February 21, 2020 for2019.

10%

Analisis sensitivitas kuantitatif untuk asumsi yang signifikanpada tanggal 31 Desember 2020 dan 2019 sebagai berikut:

43.353.002.472

50.888.902.749

The sensitivity analyses are based on a change in anassumption while holding all other assumptions constant. Inpractice, this is unlikely to occur, and changes in some of theassumptions may be correlated. When calculating thesensitivity of the defined benefit obligation to significantactuarial assumptions the same method (present value of thedefined benefit obligation calculated with the projected unitcredit method at the end of the reporting period) has beenapplied as when calculating the pension liability recognizedwithin the statement of financial position.

Cadangan imbalan paska kerja Perusahaan dihitung olehaktuaris independen PT Dian Artha Tama dengan Laporan no.tanggal 284/PSAK/DAT/III/2021 tanggal 4 Maret 2021 untuktahun 2020 dan Laporan no. 247/PSAK/DAT/II/2020 tanggal 21Februari 2020 untuk tahun 2019. Cadangan imbalan paskakerja anak Perusahaan dihitung oleh aktuaris independen PTDian Artha Tama dengan Laporan no. 285/PSAK/DAT/III/2021,tanggal 4 Maret 2021 untuk tahun 2020 dan Laporan no.248/PSAK/DAT/II/2020, tanggal 21 Februari 2020 untuk tahun2019.

6,7% 7,5%10%

10

17,47 17,81

Analisa sensitivitas didasarkan pada perubahan atas satuasumsi aktuarial di mana asumsi lainnya dianggap konstan.Dalam prakteknya, hal ini jarang terjadi dan perubahanbeberapa asumsi mungkin saling berkorelasi. Dalamperhitungan sensitivitas kewajiban imbalan pasti atas asumsiaktuarial utama, metode yang sama (perhitungan nilai kinikewajiban imbalan pasti dengan menggunakan metodeprojected unit credit di akhir periode) telah diterapkan sepertidalam penghitungan kewajiban pensiun yang diakui dalamlaporan posisi keuangan.

50.548.597.948

55 tahun/ years

Impact on the net defined benefits obligationsDampak kewajiban manfaat pasti neto/

60.926.827.737

A quantitative sensitivity analysis for significant assumptionsas of December 31, 2020 and 2019 is as follows:

61.458.501.032

74




Perusahaan Company

Dalam waktu 12 bulan berikutnya Within the next 12 months(periode laporan periode berikutnya) (the next annual)

Antara 1 dan 5 tahun Between 1 and 5 yearsAntara 5 dan 10 tahun Between 5 and 10 yearsDi atas 10 tahun Beyond 10 years


Dalam waktu 12 bulan berikutnya Within the next 12 months(periode laporan periode berikutnya) (the next annual)

Antara 1 dan 5 tahun Between 1 and 5 yearsAntara 5 dan 10 tahun Between 5 and 10 yearsDi atas 10 tahun Beyond 10 years

21. UTANG LAIN-LAIN 21. OTHER PAYABLES

Asuransi InsurancePihak ketiga Third partiesDeposit pelanggan Customers’ depositsDividen DividendsSewa diterima dimuka (Catatan 37) Unearned rent income (Note 37)Lain-lain Others

Jumlah Total


2020 2019

10.071.166.233

-

10.630.346.621

2020

2019*)

Akun utang lain-lain merupakan biaya yang masih harus dibayar,premi yang dibayar dimuka dan penerimaan premi yang masihdalam proses identifikasi.

8.895.948.855

24.940.444.648

556.663.806 572.071.806

17.070.133.430

Metode dan tipe asumsi yang digunakan dalam menyiapkananalisa sensitivitas tidak berubah dari periode sebelumnya.

- 458.588.852 697.781.385

- - 1.183.721.929 894.373.467

Durasi rata-rata kewajiban manfaat pasti di akhir periodelaporan adalah 10,69 tahun dan 9,77 tahun masing-masinguntuk tahun 2020 dan 2019.

The average duration of the defined benefit plan obligations atthe end of reporting period is 10.69 years and 9.77 years forthe year 2020 and 2019, respectively.

128.523.978.984 26.011.775.574

51.383.850.519

172.653.268

Others payable mainly represent consist of accrued expenses,premium paid in advance and premium received but in process ofidentification.

The maturity of defined benefits obligations as of December31, 2020 and 2019 is as follows:

7.342.640.296 3.085.703.803 10.597.675.480

The methods and types of assumptions used in preparing thesensitivity analysis did not change compared to the previousperiod.

42.481.686 12.193.289.972 8.844.999.851

21.980.288.109

Jatuh tempo kewajiban manfaat pasti pada tanggal 31Desember 2020 dan 2019 adalah sebagai berikut:

2020

12.690.410.981

2019

164.133.703.655

Durasi rata-rata kewajiban manfaat pasti di akhir periodelaporan adalah 9,33 tahun dan 9,40 tahun masing-masing untuktahun 2020 dan 2019.

The average duration of the defined benefit plan obligations atthe end of reporting period is 9.33 years and 9.40 years for theyear 2020 and 2019, respectively.

27.203.659 143.347.500

75


22. MODAL SAHAM 22. SHARE CAPITAL

PT Inti Anugerah Pratama PT Inti Anugerah Pratama PT Star Pacific Tbk PT Star Pacific TbkMasyarakat (masing-masing Public (each below 5%

dengan pemilikan di bawah 5% ownership)

23. TAMBAHAN MODAL DISETOR 23. ADDITIONAL PAID-IN CAPITAL

Peningkatan modal disetor tahun 1997 yang Additional paid in capital in 1997pembayarannya dilakukan di atas nilai nominal from capital stock payments

Peningkatan modal melalui penawaran Additional paid in capital from initial public offeringPenyesuaian akibat perubahan kebijakan Adjustment due to changes of the accounting

akuntansi mengenai biaya emisi saham policy for stock issuance cost

24. SALDO LABA 24. RETAINED EARNINGS

19,80%49.340.450.000

(6.950.066.595)

102.724.933.405

14.848.750.000

14,41% 10.810.800.000

Percentage of shares Total

65,79%

Number of shares

Based on Annual General Meeting of Shareholders (“AGMS”)held on August 7, 2020, a total cash dividend for 2019 ofRp 32,100,000,000 has been approved.

21.621.600

75.000.000.000

The Group had appropriated statutory balance reserve ofRp 19,000,000,000 and Rp 18,000,000,000 as of December 31,2020 and 2019, respectively.

Pada Rapat Umum Pemegang Saham Tahunan (“RUPST”)Perusahaan yang diadakan pada tanggal 7 Agustus 2020, telahdisetujui pembagian dividen tunai untuk tahun 2019 sejumlahRp 32.100.000.000.

Pada Rapat Umum Pemegang Saham Tahunan (“RUPST”)Perusahaan yang diadakan pada tanggal 12 April 2019, telahdisetujui pembagian dividen tunai untuk tahun 2018 sejumlahRp 48.750.000.000.

Grup telah menetapkan saldo cadangan umum sebesarRp 19.000.000.000 dan Rp 18.000.000.000 masing-masing untuk31 Desember 2020 dan 2019.

Persentase

Jumlah/saham/

98.680.900 29.697.500

100,00%

Sesuai dengan daftar pemegang saham yang dikeluarkan olehBiro Administrasi Efek Perusahaan (PT Sharestar Indonesia), padatanggal 31 Desember 2020 dan 2019, susunan pemegang sahamPerusahaan adalah sebagai berikut:

Based on stockholders list issued by share's registrar of theCompany (PT Sharestar Indonesia), as of December 31, 2020and 2019, the stockholders of the Company are as follow:

Jumlah lembar

kepemilikan/

150.000.000

As of December 31, 2020 and 2019, no shares of PT LippoGeneral Insurance Tbk and its subsidiaries were owned by theBoard of Commissioners and Directors.

Based on Annual General Meeting of Shareholders (“AGMS”)held on April 12, 2019, a total cash dividend for 2018 ofRp 48,750,000,000 has been approved.

87.975.000.000 21.700.000.000

Rincian tambahan modal disetor pada tanggal 31 Desember 2020dan 2019 adalah sebagai berikut:

Details of additional paid in capital as of December 31, 2020 and2019 are as follows:

Pada tanggal 31 Desember 2020 dan 2019 tidak terdapat sahamPT Lippo General Insurance Tbk dan entitas anak yang dimilikioleh Dewan Komisaris dan Direksi.

76


25. PREMI BRUTO 25. GROSS PREMIUM WRITTEN

Kesehatan HealthKebakaran FireKendaraan Bermotor Motor VehiclesJiwa dan Kematian Life and death

Marine CargoOthers

Jumlah Total

Pihak ketiga Third partiesPihak berelasi (Catatan 37) Related parties (Note 37)

Jumlah Total

26. PREMI REASURANSI 26. REINSURENCE PREMIUM

Kebakaran FireMarine Cargo

Kendaraan Bermotor Motor VehiclesKesehatan HealthJiwa dan Kematian Life and death

Others

Jumlah Total


Jumlah Total

27. PREMI YANG BELUM MERUPAKAN PENDAPATAN NETO 27. NET UNEARNED PREMIUM INCOME

Kesehatan HealthKebakaran FireKendaraan Bermotor Motor VehiclesJiwa dan kematian Life and death

Marine CargoOthers

Jumlah Total

36.891.058.176

1.531.971.748.174

1.693.224.032.388

1.239.282.034.767

1.459.602.169.507

1.303.677.357 Lain-lain

506.564.433.925 466.291.094.156

2019

4.319.628.157 1.907.787.941 6.159.168.544 6.139.953.673

467.304.396.373 367.556.198.599

Premi yang belum merupakan pendapatan neto berdasarkan jenisasuransi adalah sebagai berikut:

Net unearned premiums by line of business are as follows:

15.477.487.883

471.791.156.962 383.033.686.482

861.099.118.948 771.857.462.299

Pengangkutan

Premi reasuransi berdasarkan pihak-pihak yang bertransaksi:

220.320.134.740

49.229.415.358

57.448.200.083

147.195.239.035 108.844.863.335

895.061.559

213.893.779.175 196.289.926.751

4.486.760.589

93.614.952.539

2019

Pengangkutan

Lain-lain

471.791.156.962

2020

8.407.330.652 4.660.134.828

383.033.686.482

14.249.341.287 13.847.243.580

Gross premium written based on the parties which havetransactions:

2020 2019

14.017.554.601

2020

396.632.560.323

54.473.147.448

1.693.224.032.388 1.459.602.169.507

455.719.447.981 110.345.667.706 130.364.216.054

Reinsurance premium based on customers:

561.262.232.043

42.023.127.999

27.468.627.546 Lain-lain 83.818.970.787 51.050.553.471

319.587.508.284

2020 2019

23.844.477.322

2020

26.766.012.380

Premi bruto berdasarkan pihak-pihak yang bertransaksi:

Pengangkutan

2019

161.252.284.214

12.173.142.524

72.705.983.674

77


27. PREMI YANG BELUM MERUPAKAN PENDAPATAN NETO 27. NET UNEARNED PREMIUM INCOME(Lanjutan) (Continued)


Singapore DollarEuro Euro

Others

Jumlah Total

Saldo awal Beginning balanceSaldo akhir Ending balance

28. KLAIM BRUTO 28. GROSS CLAIMS

Kesehatan HealthKebakaran FireKendaraan Bermotor Motor VehiclesJiwa dan kematian Life and death

Marine CargoOthers

Jumlah Total


Jumlah Total

29. KLAIM REASURANSI 29. REINSURANCE CLAIMS

Kebakaran FireJiwa dan kematian Life and deathKesehatan Health

Marine CargoKendaraan Bermotor Motor Vehicles

Others

Jumlah Total

27.326.631.702 19.599.787.169

481.151.519.083

Lain-lain

19.530.893.909

815.610.986 715.058.733

530.737.104.680 683.691.474.382

506.564.433.925 466.291.094.156

(40.273.339.769)

Dolar Singapura 1.337.230.800 1.239.954.281

2020 2019

310.004.889.834

2020

5.644.830.583

270.629.674.513

506.564.433.925 466.291.094.156

2020 2019

29.069.329.044

45.490.123 39.778.979

480.358.766.361 444.765.408.254 24.007.335.655

14.860.424.927

1.057.789.982.510

Perubahan neto premi yang belum merupakan pendapatandihitung dengan cara sebagai berikut:

Net change in unearned premium income is calculated as follows:

1.057.789.982.510

466.291.094.156

20.213.117.241 2.432.210.922

39.899.324.303 87.589.725.264

2020 2019

4.674.860.107 1.712.864.256

Klaim bruto berdasarkan pihak-pihak yang bertransaksi:

2.316.937.947 2.761.370.411

244.564.386.744 212.121.344.968

849.004.496

957.761.143.852

241.656.627.673

43.617.324.089 49.154.886.819

Gross claims based on transaction with counterparties:

27.135.467.848

281.744.535.308

5.208.610.257

Lain-lain

957.761.143.852

2019

917.861.819.549

2.203.878.166 2.415.719.875 Pengangkutan

Lain-lain 40.866.583.290

Premi yang belum merupakan pendapatan neto berdasarkan matauang adalah sebagai berikut:

Net unearned premiums by currency are as follows:

2020 2019

970.200.257.246

Pengangkutan

78


29. KLAIM REASURANSI (Lanjutan) 29. REINSURANCE CLAIMS (Continued)


Jumlah Total

30. ESTIMASI KLAIM RETENSI SENDIRI NETO 30. NET ESTIMATED CLAIMS FOR OWN RETENTION

Kebakaran FireKesehatan HealthKendaraan Bermotor Motor Vehicles

Marine CargoJiwa dan Kematian Life and Death

Others

Jumlah Total

Rupiah Indonesian RupiahDolar AS US DollarEuro Euro

Others

Jumlah Total

Saldo awal Beginning balanceSaldo akhir Ending balance

31. KOMISI - NETO 31. COMMISSION - NET

Kesehatan HealthKebakaran FireKendaraan bermotor Motor vehicles

Marine cargoJiwa dan Kematian Life and Death

Others

Jumlah Total

(23.904.304.409) 89.006.569.522

Reinsurance claims based on transaction with counterparties:

Perubahan neto estimasi klaim sendiri dihitung dengan carasebagai berikut:

Pengangkutan 7.457.057.146 4.725.226.812

2020

160.137.847.313 168.071.025.940

24.287.957.190 327.396.196 813.141.533

35.941.505.340

2020

Lain-lain

2019

65.349.089.645

5.083.128.659 711.917.284 Lain-lain

65.102.265.113

35.233.051.507

3.569.568.757

64.384.617.082

Pengangkutan

Lain-lain

202.773.546.901

(639.108.452)

Net changes in estimated claims for own retention is calculated asfollows:

(6.524.537)

7.988.251.609 5.819.056.361 -

2.738.236.718 21.975.965.123 3.563.044.220

19.010.905.648

82.223.113

Net

5.819.056.361

202.773.546.901

Beban komisi/

Commission expense

202.773.546.901 160.137.847.313

Estimasi klaim retensi sendiri neto berdasarkan mata uang adalahsebagai berikut:

Net estimated claims for own retention by currency are as follows:

206.545.170

8.627.360.061

964.472.563

2020Pendapatan komisi/

2.216.308.469

241.656.627.673

160.137.847.313

42.635.699.588 (7.933.178.627)

19.237.728.405

2019

64.891.464.450

79.077.951.149

3.037.851.153

281.744.535.308

2020 2019

65.357.650.508 50.360.465.376 75.269.170.728

169.797.672.071 104.906.207.621

Komisi neto/

2019

279.528.226.839 238.618.776.520

Klaim reasuransi berdasarkan pihak-pihak yang bertransaksi:

123.885.109.103 178.075.970.402

10.060.161.465 9.856.254.099

160.137.847.313

Commission Income

2020

79


31. KOMISI - NETO (Lanjutan) 31. COMMISSION - NET (Continued)

Kesehatan HealthKebakaran FireKendaraan bermotor Motor vehicles

Marine cargoJiwa dan Kematian Life and Death

Others

Jumlah Total

32. HASIL INVESTASI 32. INVESTMENT INCOME

Pihak ketiga Third partiesBunga obligasi Interest on bondsLaba/(rugi) atas kenaikan nilai wajar efek Unrealized gain/(loss) on increase in

yang belum direalisasi diperdagangkan fair value of trading marketable securitiesHasil investasi reksadana Gain on investment of mutual fundBunga deposito Interest on time depositsLaba kenaikan nilai properti investasi Revaluation of investment propertiesDividen DividendHasil investasi dana investasi real estat Gain on investment of real estate investmentAmortisasi diskonto obligasi Amortization of bond discountBunga efek beragunan aset Interest on asset backed securitiesLaba/(rugi) pelepasan investasi Gain/(loss) on disposal of investment

Pihak berelasi (Catatan 37) Related parties (Note 37)Bunga deposito Interest on time depositsHasil investasi lainnya Other investment

Laba (rugi) selisih kurs atas Gain (loss) on foreign exchange investasi on investments

Jumlah Total

561.883.882

3.524.188.605 - 3.524.188.605 2.044.814.107

70.717.294 96.314.200 122.593.294 111.721.294

14.344.317.192

10.110.716.262

2020 2019

7.794.804.620

60.172.801.303

1.962.131.565

27.619.765.719

(14.298.279.011)

26.104.817.211

6.227.877.313

10.664.833.042

1.506.435.171

1.243.012.992

76.083.532.127

18.330.780.767

(1.021.588.147) 7.249.465.460

NetCommission Income

14.265.171.875

2.459.931.244 8.749.775.556

39.658.198.559

13.417.219.201

6.167.288.019

57.543.580

18.146.329.759

-

71.806.497.391 1.514.948.508

263.422.179

119.090.946

Pendapatan komisi/Beban komisi/ Komisi neto/

39.336.918.648 85.198.288.656

57.064.996.439 (14.741.500.952)

2.189.632.985

2019

83.456.632.897 159.540.165.024

11.399.413.669

Lain-lain

83.076.073.880

202.188.965 (3.628.649.947)

119.090.946

Pengangkutan

696.088.553

Commission expense

60.868.889.856

4.234.447.092

80


33. BEBAN USAHA 33. OPERATING EXPENSES

Gaji dan upah Salaries and payrollPemasaran MarketingPenyusutan aset tetap (Catatan 12) Depreciation of fixed assets (Note 12)Perbaikan dan pemeliharaan Repair and maintenanceKesejahteraan karyawan Employee welfareImbalan kerja (Catatan 20) Post employment benefits (Note 20)Transportasi TransportationPendidikan dan latihan Training and education

Komunikasi CommunicationPerlengkapan kantor Office suppliesJasa profesi Professional feeAmortisasi aset tak berwujud (Catatan 13) Amortization of intangible (Note 13)Penyusutan aset-hak-guna (Catatan 11) Depreciation of right-of-use assets (Note 11)Sewa kantor Office rentLain-lain Others

Jumlah Total

34. PENGHASILAN/(BEBAN) LAIN-LAIN - BERSIH 34. OTHER INCOME/(EXPENSE) - NET

Pihak ketiga Third partiesSelisih kurs – neto Foreign exchange gain (loss) - netLaba penjualan aset tetap (Catatan 12) Gain on sale of fixed assets (Note 12)Pendapatan sewa lain Other rent incomeJasa giro Interest from current accountBeban bunga sewa (Catatan 11) Lease interest expense (Note 11)Administrasi bank Bank chargesBeban investasi Investment expenseBeban bunga Interest expenseLain-lain Others

Pihak berelasi Related partiesPendapatan sewa lain (Catatan 37) Other rent income (Note 37)

Jumlah Total

35. PERPAJAKAN 35. TAXATION

a. Utang pajak a. Taxes payable

Pajak penghasilan pasal 29 Corporate income tax article 29Pajak penghasilan pasal 21 Income tax article 21Pajak Pertambahan Nilai Value Added TaxPajak penghasilan pasal 23/26 Income tax article 23/26Pajak penghasilan pasal 4(2) Income tax article 4(2)Pajak penghasilan pasal 25 Income tax article 25

Jumlah Total

(379.649.483) -

3.886.839.130 2.076.116.746 1.154.267.250

745.747.848 628.904.311

2.225.177.772 2.061.412.005

15.214.401.771

598.774.425

18.336.649.521 2.458.287.838

334.115.891 -

8.467.750.904 9.748.336.182

(1.121.879.176) (989.919.633)

2020

(7.014.229.604)

(106.166.395)

206.201.182.748

503.205.943 81.022.500

(1.178.302.952) (7.095.252.104)

190.106.898.267

376.017.334

(4.644.226.379)

95.434.047.006

2020 2019

94.821.619.619

716.863.741

188.255.106

- (4.075.278.359) (2.457.164.541)

51.687.182

7.594.918.141 839.242.375

(675.097.009)

6.884.056.000

146.685.224 176.295.631

2.075.747.625

4.286.368.823 950.434.638

2020 2019

42.507.902.637 32.732.220.022

4.817.018.604 6.467.492.321

3.897.486.822 2.998.093.855

7.020.185.185 10.171.995.730 8.772.953.301 8.120.743.487

5.646.792.860 4.634.667.116 5.900.209.139 5.468.952.715

663.196.735

(138.491.008) 282.154.788

186.239.670 46.056.821

2019

3.493.765.615

233.347.500 45.000.000

- 1.793.980.143

81


35. PERPAJAKAN (Lanjutan) 35. TAXATION (Continued)

a. Utang pajak (lanjutan) a. Taxes payable (continued)

b. Pajak penghasilan badan b. Corporate income tax

Beban pajak kini Current tax expensePerusahaan CompanyEntitas anak Subsidiary

Jumlah beban pajak kini Total current tax expense

Beban pajak tangguhan Deferred tax expensePerusahaan CompanyEntitas anak Subsidiary

Jumlah beban pajak tangguhan Total deferred tax expense

Beban pajak penghasilan Income tax expensesPerusahaan CompanyEntitas anak Subsidiary

Total beban pajak penghasilan Total income tax expense

Laba konsolidasian sebelum pajak Consolidated income before taxLaba/(rugi) entitas anak sebelum pajak Gain/(loss) of subsidiary before

penghasilan income tax

Laba sebelum pajak perusahaan Income before tax attributable to the Company

Pajak dihitung dengan tarif pajak Tax calculated at applicableyang berlaku tax rates

Dampak pajak pada penghasilan pada: Tax effects of:- Penghasilan kena pajak final Income subject to final tax -- Beban yang tidak dapat dikurangkan Expenses not deductible for -

untuk tujuan perpajakan tax purposesEntitas anak SubsidiaryPenurunan tarif pajak Tax rates reduction

Jumlah beban pajak penghasilan Total income tax expense

111.914.336.371

7.771.486.906

30.508.210.000

(4.067.388.344)

(8.755.982.573)

1.159.452.009 -

Besarnya pajak penghasilan terutang ditetapkan berdasarkanperhitungan pajak yang dilakukan sendiri oleh wajib pajak (self-assessment ).

The filing of tax returns is based on the Company’s owncalculation of tax liabilities (self assessment).

Rekonsiliasi antara laba sebelum pajak Perusahaan denganpenghasilan kena pajak Perusahaan untuk tahun yang berakhirpada tanggal 31 Desember 2020 dan 2019 adalah sebagaiberikut:

2020

Pada tahun 2020 dan 2019, pajak penghasilan kini dantangguhan telah dihitung dengan menggunakan tarif-tarif pajaktersebut.

In 2020 and 2019, current and deferred income taxes havebeen calculated using these enacted tax rates.

(3.398.599.500)

The reconciliation between income before income tax of theCompany and the Company’s estimated taxable income forthe years ended December 31, 2020 and 2019 is as follows:

(507.228.605) (170.090.075)

19.005.851.331 7.771.486.906

26.759.344.544 11.703.655.135

138.673.680.915

20192020

2019

(5.427.543.284)

24.869.421.392

(170.090.075)

Pajak atas laba Grup sebelum pajak berbeda dari nilai teoritisyang mungkin muncul apabila menggunakan rata-ratatertimbang tarif pajak terhadap laba pada entitas konsolidasiandalam jumlah sebagai berikut:

The tax on Group’s income before tax differs from thetheoretical amount that would arise using the weightedaverage tax rate applicable to income on the consolidatedentities as follows:

- -

12.271.053.740 11.838.875.250

87.774.030.433

6.734.797.591

19.005.851.331

99.477.685.568

(11.500.301.127)

7.941.576.981 19.513.079.936 (507.228.605)

11.838.875.250

(170.090.075) (507.228.605) (3.897.298.269) 7.242.026.196

12.271.053.740

82



b. Pajak penghasilan badan (lanjutan) b. Corporate income tax (continued)

Laba sebelum pajak penghasilan Profit before income tax permenurut laporan laba-rugi consolidated statement ofkomprehensif konsolidasian comprehensive income

Laba/(rugi) entitas anak sebelum pajak Gain/(loss) of subsidiary beforepenghasilan income tax

Laba sebelum pajak perusahaan Income before tax attributable to the CompanyDikurangi: Less:Perbedaan tetap Permanent differences

Laba penjualan efek Gain on sale of investment in sharesLaba kenaikan nilai properti investasi Gain on revaluation of investment propertiesBiaya transportasi Transportation expenesesSumbangan, jamuan, dan representasi Donation, entertainment, and representationBeban pajak Tax expensesBeban pendapatan yang telah Expenses related to income

dikenakan pajak final subjected to final tax

Biaya penitipan saham dan Custody fee for compulsory timedeposito wajib deposit and marketable securities

Pendapatan yang telah dikenakan Income already subjected to final taxpajak yang bersifat final

Bunga InterestKenaikan nilai reksadana Gain on increase in value of mutual fundPendapatan sewa Rent revenueSelisih kurs atas investasi Differences exchange rates of investment

Keuntungan (kerugian) yang belum Unrealized loss ondirealisasi akibat perubahan increase in fair value of tradingnilai wajar efek yang diperdagangkan marketable securities

Perbedaan temporer Temporary differencesImbalan kerja karyawan - neto Employee benefits - netEstimasi klaim retensi sendiri Estimated claims for own retentionBonus BonusPenyusutan DepreciationSewa - PSAK 73 Leases - SFAS 73Penurunan premi yang belum Decrease (increase) of

merupakan pendapatan unearned premium

Estimasi penghasilan kena pajak Estimated taxable income

Estimasi penghasilan kena pajak Estimated taxable income(pembulatan) (rounded)

Beban pajak kini: Current tax expense:Perusahaan The CompanyEntitas anak Subsidiary

Beban pajak penghasilan konsolidasian Consolidated current income tax expense

- (295.093.457)

-

(13.569.406.603)

(19.377.137.070) (25.501.835.876)

111.914.336.371

55.777.517.357

55.777.517.000 47.355.501.000

(7.814.941.902)

350.000

250.117.706

(11.266.626.987) (16.285.055.224)

(6.221.076.691)

2.517.756.939

(18.146.329.759)

(9.782.392.559)

(510.993.654)

4.481.168.891

(10.038.325.474) 3.592.921.682

26.759.344.544

2.309.453.596

2020

(55.248.100.333)

-

13.430.873.513 7.485.000.000

11.838.875.250

47.355.501.033

(27.648.063.225) 15.589.193.076

- 12.271.053.740

12.271.053.740 11.838.875.250

1.899.170.892

(11.480.355.397)

11.703.655.135

138.673.680.915 99.477.685.568

(17.180.306.082)

(67.711.377.611)

(1.156.521.971) 1.782.757.799

87.774.030.433

3.356.350.000 2.987.979.030

2019

(8.906.000.000)

1.646.853.430

(3.281.300.000)

10.223.107 44.374.028

83



b. Pajak penghasilan badan (lanjutan) b. Corporate income tax (continued)

Dikurangi: pajak dibayar dimuka Less: prepaid income taxesPerusahaan The Company

Pasal 23 Article 23Pasal 25 Article 25

Taksiran utang pajak penghasilan Estimated income tax payable

c. Pajak tangguhan c. Deferred tax

Perusahaan The Company

Aset pajak tangguhan Deferred tax Assets

Premi yang belum

merupakan Unearned premium

pendapatan income

Penyisihan piutang Allowance for other

lain-lain receivables

Imbalan kerja karyawan Employee benefits

Investasi tanah dan Investment in land and

bangunan building

Penyisihan cadangan

bonus Allowance for bonus

Depreciation of

Penyusutan aset tetap fixed assets

Estimasi klaim retensi Estimated claim

sendiri retention

Sewa - PSAK 73 Leases - SFAS 73

Keuntungan (kerugian)

yang belum direalisasi Unrealized gain (loss)

atas perubahan on change in fair value

nilai wajar efek of available for sale

tersedia untuk dijual financial assets

Aset lain-lain Other assets(119.249.750) - - 14.309.970

(64.920.560) - - (64.920.560)

(104.939.780)

9.027.196.116 (2.566.229.697) - (1.083.263.534) 5.377.702.885

12.267.741.949 (5.499.183.682) (534.349.185) (1.470.642.370) 4.763.566.712

173.276.068 - - (20.793.128) 152.482.940

2.491.701.580 (2.109.218.571) (575.797.423) (299.004.190) (492.318.604)

12.388.865 - 41.448.238 - 53.837.103

182.988.750

2020

(2.525.485.326) (2.525.678.187) - 303.058.240 (4.748.105.273)

January 1, 2020

524.925.646 120.163.333 - (62.991.078)

Penyesuaian

Dikreditkan/ akibat perubahan

(dibebankan) ke Dibebankan tarif pajak/ 31 Desember

-

582.097.901

to profit or loss equity rates

2020 2019

6.884.056.000

4.676.135.599 4.954.819.250

4.644.734.351 4.946.187.713

Dalam laporan keuangan konsolidasian ini, jumlah penghasilankena pajak didasarkan atas perhitungan sementara, karenaPerusahaan belum menyampaikan Surat PemberitahuanTahunan pajak penghasilan badan.

- (21.958.650) 161.030.100

2.500.000.000 1.646.700.000 - (300.000.000) 3.846.700.000

2020

laporan laba rugi/ ke ekuitas/ Adjustment due to 2020/

1 Januari 2020 Credited/(charged) Charged to changes in December 31,

In these consolidated financial statements, the amount oftaxable income is based on preliminary calculations, as theCompany has not yet submitted its corporate income taxreturns.

7.594.918.141

31.401.248 8.631.537

Rincian dari manfaat (beban) pajak tangguhan dan aset(liabilitas) tangguhan pada tahun 2020 dan 2019 adalahsebagai berikut:

The details of the deferred income tax expense (benefit) anddeferred tax assets (liabilities) in 2020 and 2019 are asfollows:

84



c. Pajak tangguhan (lanjutan) c. Deferred tax (continued)

Aset pajak tangguhan: Deferred tax assets:Premi yang belum

merupakan Unearned premiumpendapatan income

Penyisihan piutang Allowance for otherlain-lain receivables

Imbalan kerja karyawan Employee benefitsInvestasi tanah dan Investment in land and

bangunan buildingPenyisihan cadangan

bonus Allowance for bonusDepreciation of

Penyusutan aset tetap fixed assetsEstimasi klaim retensi

sendiri Estimated claim retentionKeuntungan (kerugian)

yang belum direalisasi Unrealized gain (loss)atas perubahan on change in fair valuenilai wajar efek of available for saletersedia untuk dijual financial assets

Aset lain-lain Other assets

d. Peraturan perpajakan d. Tax regulation

Perubahan Tarif Pajak Badan Changes in Corporate Tax Rates

-

2.500.000.000

(2.525.485.326)

524.925.646

-

-

ke pendapatan Manfaat (beban)

4.067.388.344

1.120.292.223

Dibebankan

Credited (charged) December 31

173.276.068

1.379.707.777

2019

to comprehensive

960.614.173 1.021.375.405 509.712.002

1 Januari 2019/2019/

173.276.068

di laporan laba rugi/Credited (charged)

-

12.267.741.949

2.491.701.580

182.988.750 182.988.750

(119.249.750)

7.645.418.481

-

- (119.249.750) 12.388.865 45.223.122

- -

(32.834.257) -

Aset dan liabilitas pajak tangguhan pada tanggal 31 Desember2020 dan 2019 telah memperhitungkan tarif pajak yang berlakuuntuk setiap periode yang terkait.

Deferred tax assets and liabilities as of December 31, 2020and 2019 have been calculated taking into account tax ratesapplicable for each respective period.

Pada tanggal 31 Maret 2020, sebagai bagian dari stimulusekonomi untuk perlindungan dampak Covid-19 , pemerintahRepublik Indonesia mengumumkan Peraturan PemerintahPengganti Undang-undang (“Perpu”) No. 1 Tahun 2020 tentangKebijakan Keuangan Negara dan Stabilitas Sistem Keuanganuntuk Penanganan Pandemi Corona Virus Disease 2019(Covid-19) dan/atau dalam Rangka Menghadapi Ancaman yang Membahayakan Perekonomian Nasional dan/atau StabilitasSistem Keuangan.

On March 31, 2020, as part of an economic stimulus forimpact protection Covid-19, the government of the Republic ofIndonesia announced a Substitute Government RegulationLaw (“Perpu”) No. 1 of 2020 concerning State Financial Policyand Stability Financial System for Handling the Corona VirusDisease 2019 (Covid-19) Pandemic and/or in the Frameworkof Facing Threats that Endanger the National Economy and/orFinancial System Stability.

3.399.824.153 -

- -

45.293.607

-

5.627.371.963

554.935.124

9.027.196.116

479.632.039 -

January 1, 2019 to profit or loss income 2019

(1.953.735.476) (571.749.850)

komprehensif/ 31 Desember

85



d. Peraturan perpajakan (lanjutan) d. Tax regulation (continued)

Perubahan Tarif Pajak Badan (lanjutan) Changes in Corporate Tax Rates (continued)

- -- -- -

36. LABA PER SAHAM 36. EARNINGS PER SHARE

Laba neto untuk perhitungan Net income for calculating basiclaba per saham dasar earnings per share

Total rata-rata tertimbang saham Total weighted average commonbiasa untuk perhitungan laba per share for calculation of basicsaham dasar earnings per share

Laba neto per saham (dalam Earnings per share (full amountRupiah penuh) in Rupiah)

37. SIFAT DAN TRANSAKSI DENGAN PIHAK-PIHAK 37. NATURE OF RELATIONSHIP AND TRANSACTIONS WITH BERELASI RELATED PARTIES

PT Aon Indonesia Dibawah kesamaan pengendalian/ Penutupan asuransi/Insurance premiumUnder common control Klaim bruto/Gross claims

Komisi/Commision

PT Aon Reinsurance Brokers Indonesia Dibawah kesamaan pengendalian/ Penutupan asuransi/Insurance premium(d/h PT Aon Benfield Indonesia) Under common control Reasuradur/Reinsurance

Related parties

2020

Below are data used for basic earnings per share calculation:

Pada tanggal 27 April 2020, Pemerintah menerbitkan PeraturanMenteri Keuangan No. 44/PMK.03/2020 selanjutnya dirubahterakhir No. 110/PMK.03/2020 mengenai insentif pajak untukwajib pajak terdampak pandemi corona virus disease 2019.Perusahaan memperoleh insentif perpajakan sejak ditetapkanperaturan ini.

On April 27, 2020, the Government issued Regulation of theMinister of Finance No. 44/PMK.03/2020 which wassubsequently amended most recently No. 110/PMK.03/2020regarding tax incentives for taxpayers affected by the 2019corona virus disease pandemic. Companies have received taxincentives since the enactment of this regulation.

Hubungan dengan pihak-pihak berelasi adalah sebagai berikut:

150.000.000 150.000.000

2019

Mulai tahun pajak 2022: dari 22% menjadi 20%;

80.002.543.527

The relationships with the related parties mentioned in theforegoing are as follows:

The deferred income tax calculation has used the new taxrate.

Nature of transactionSifat dari transaksi/

92.908.485.040

Nature of relationshipPihak berelasi/

Berikut ini adalah data yang digunakan untuk perhitungan laba persaham dasar :

619 533

Sifat dari hubungan/

Starting tax year 2022: from 22% to 20%;Perusahaan Terbuka dalam negeri yang memenuhi kriteriatambahan tertentu dapat memperoleh tarif pajak sebesar 3%lebih rendah dari tarif pajak yang disebutkan di atas.

Domestic public listed companies that meet certainadditional criteria can obtain the tax rate is 3% lower thanthe tax rate stated above.

Perhitungan pajak penghasilan tangguhan telah menggunakantarif pajak baru tersebut.

Perpu No. 1 Tahun 2020 mengatur, antara lain, penurunan tarifpajak badan sebagai berikut:

Perpu No. 1 of 2020 regulates, among other things, areduction in corporate tax rates as follows:

Untuk tahun pajak 2020 dan 2021: dari 25% menjadi 22%; For the 2020 and 2021 tax years: from 25% to 22%;

86


37. SIFAT DAN TRANSAKSI DENGAN PIHAK-PIHAK 37. NATURE OF RELATIONSHIP AND TRANSACTIONS WITH BERELASI (Lanjutan) RELATED PARTIES (Continued)

PT Lippo Karawaci Tbk Dibawah kesamaan pengendalian/ Penutupan asuransi/Insurance premiumUnder common control Klaim bruto/Gross claims

Investasi/Investment

PT Matahari Putra Prima Tbk Dibawah kesamaan pengendalian/ Penutupan asuransi/Insurance premiumUnder common control Investasi/Investment

Klaim bruto/Gross claims

PT Bank Nationalnobu Tbk Dibawah kesamaan pengendalian/ Penutupan asuransi/Insurance premiumUnder common control Investasi/Investment

Kas di bank/Cash in banksReasuradur/ReinsuranceKomisi/CommissionKlaim bruto/Gross claims

PT Mahkota Sentosa Utama Dibawah kesamaan pengendalian/ Piutang lain-lain/Other receivablesUnder common control

a. Premi bruto (Catatan 25) a. Gross premium (Note 25)

PT Aon Indonesia PT Aon IndonesiaPT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Matahari Putra Prima Tbk PT Matahari Putra Prima TbkPT Lippo Karawaci Tbk PT Lippo Karawaci Tbk

Persentase terhadap jumlah premi bruto Percentage to gross premiums

b. Premi reasuransi (Catatan 26) b. Reinsurance premium (Note 26)

PT Aon Reinsurance Brokers Indonesia PT Aon Reinsurance Brokers Indonesia(d/h PT Aon Benfield Indonesia) (formerly PT Aon Benfield Indonesia)

Persentase terhadap jumlah Percentage to total premi reasuransi reinsurance premiums

c. Klaim bruto (Catatan 28) c. Gross claims (Note 28)

PT Aon Indonesia PT Aon IndonesiaPT Matahari Putra Prima Tbk PT Matahari Putra Prima TbkPT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Lippo Karawaci Tbk PT Lippo Karawaci Tbk

Persentase terhadap jumlah klaim bruto Percentage to gross claims

0,95%

30.913.883.068

15.477.487.883

19.146.777.901

4,04%

2020

11.906.436.693

2019

105.843.237.684 158.822.908.264

161.252.284.214

18.588.659.576

4.486.760.589

2020

57.115.194.856

87.589.725.264

6.958.846.848 7.413.511.485

The Group has performed transactions with related parties, mainlyconcerning selling of policy, insurance transactions, tradingmarketable securities, both listed and non-listed in stockexchange. The details of these transactions are as follows:

Grup melakukan transaksi dengan pihak-pihak berelasi, terutamamenyangkut penjualan polis, transaksi asuransi, jual-beli efek baikyang telah maupun yang belum terdaftar di pasar efek. Transaksitersebut adalah sebagai berikut:

2019

14.585.874.731

14.355.380.440

24.355.831.936

9,52% 15,09%

39.899.324.303

8,28%

2019

7.392.209.224 8.705.638.483

15.997.468.677

220.320.134.740

2020

6.959.608.655

4,17%

Pihak berelasi/ Sifat dari hubungan/Nature of relationship Nature of transaction

Sifat dari transaksi/ Related parties

87



d. Klaim reasuransi (Catatan 29) d. Reinsurance claim (Note 29)

PT Aon Reinsurance Brokers Indonesia PT Aon Reinsurance Brokers Indonesia(d/h PT Aon Benfield Indonesia) (formerly PT Aon Benfield Indonesia)

Persentase terhadap jumlah Percentage to totalklaim reasuransi reinsurance claims

e. Hasil investasi (Catatan 32) e. Investment income (Note 32)

PT Bank Nationalnobu Tbk PT Bank Nationalnobu TbkPT Lippo Karawaci Tbk PT Lippo Karawaci Tbk

Persentase terhadap jumlah hasil investasi Percentage to total investment income

f. Penghasilan/(beban) lain-lain - bersih (Catatan 34) f. Other income/(expense) - net (Note 34)

PT Bank Nationalnobu Tbk PT Bank Nationalnobu Tbk\Persentase terhadap jumlah pendapatan Percentage to total revenue

g. Aset g. Assets

Kas dan bank (Catatan 4) Cash on hand and in banks (Note 4)Piutang premi (Catatan 5) Premium receivable (Note 5)Piutang reasuransi (Catatan 6) Reinsurance receivables (Note 6)Investasi (Catatan 8) Investments (Note 8)Piutang lain-lain (Catatan 7) Other receivables (Note 7)

PT Mahkota Sentosa Utama PT Mahkota Sentosa Utama

Persentase terhadap jumlah aset Percentage to total assets

h. Liabilitas h. Liabilities

Utang klaim (Catatan 15) Claim payable (Note 15)Utang reasuransi (Catatan 16) Reinsurance payable (Note 16)Utang komisi (Catatan 17) Commission payable (Note 17)Utang lain-lain (Catatan 21) Other payables (Note 21)

PT Bank Nationalnobu Tbk PT Bank Nationalnobu Tbk

Persentase terhadap jumlah liabilitas Percentage to total liabilities

1.843.211.090 3.286.917.042

1,81%

263.422.179

0,79%

2020 2019

0,32%

700.416.900

3.037.851.153

4.093.565.476 3.281.989.421

6.325.635.957

20,69%

2.216.308.469

119.090.946

3.839.238.454 4.370.977.518

19,20%

2020

2019

0,30%

2020

1,26%

81.022.500

0,04% 0,01%

119.090.946 1.506.435.171

0,67%

2019

2020 2019

503.205.943

- 1.243.012.992

259.251.028

13.073.831.684

2019

1.087.023.381 1.001.663.118

540.665.236.754 582.672.382.318

27.203.659 143.347.500

4.195.970.180

2020

8.943.150.242

113.268.178.064 107.872.079.145

418.377.231.379 466.145.673.116

88



i. Kompensasi manajemen kunci i. Key management compensation

Jumlah imbalan yang diberikan kepada Total compensations given toKomisaris dan Direksi Board of Commissioners and Directors

Jumlah imbalan yang diberikan kepada personil Total compensations given to othermanajemen kunci lainnya key management personnel

Jumlah iuran pensiun untuk Dewan Direksi Total pension contribution for Board Directors

Jumlah iuran pensiun untuk personil Total pension contribution for othermanajemen kunci lainnya key management personnel

38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO 38. FINANCIAL RISK MANAGEMENT OBJECTIVESKEUANGAN AND POLICIES

a. Risiko asuransi a. Insurance risk

Risiko penjamin/underwriting Underwriting risk

Related party transactions have policy and condition which arethe same as with third parties.

31.960.191.618

10.840.463.773

2.312.270.127

The core function of the Group's risk management is to identify allkey risks for the Group, measure these risks and manage the riskpositions in accordance with its policies and Group's risk appetite.The Group regularly reviews its risk management policies andsystems to reflect changes in markets, products and best marketpractice.

Risiko underwriting mencakup risiko atas tingginya biaya klaimdari yang diperkirakan, yang dipengaruhi oleh ketidakpastiansifat dan frekuensi serta besarnya tingkat kerugian, dan risikoperubahan peraturan perundangan dan kondisi ekonomi padaperlindungan asuransi atau reasuransi. Hal tersebut berdampakbagi penjamin polis untuk menanggung premi yang terlalusedikit atas risiko yang telah disepakati untukdipertanggungkan, yang mengakibatkan pada keterbatasandana Grup untuk berinvestasi dan membayar klaim, ataubilamana klaim yang terjadi lebih besar dari yang diperkirakan.

Underwriting risk represents the exposure to loss resultingfrom actual policy experience adversely deviating fromassumptions made in the product pricing. Underwriting risksare brought about by a combination of the following:

Risiko underwriting merupakan kerugian yang diakibatkankebijakan yang sebenarnya merugikan menyimpang dariasumsi yang dibuat dalam nilai produk. Risiko penjaminan emisidisebabkan oleh kombinasi dari hal-hal berikut:

To minimize the risk of underwriting, the underwriting riskmanagement is conducted and evaluated by the BusinessRisk Committee to ensure the coverage meets anyunderwriting philosophy and principles of Good CorporateGovernance. This is supported also by conducting oversight ofthe provision of formal underwriting as well as limitations andstandards for the protection of the reinsurer.

13.026.130.976

Underwriting risk includes the risk of higher claims costs thanexpected, which is influenced by the uncertainty of the natureand frequency as well as the large levels of losses, andexposure to changes in legislation and economic conditions oninsurance or reinsurance protection. This has implications forthe guarantor to bear the premium of the policy which too littleof the risks that have been agreed for the insured, whichresulted in limited funds of the Group to invest and pay claims,or if the claim was greater than expected.

Untuk meminimalisir risiko penjaminan/underwriting ini,pengelolaan risiko penjaminan/underwriting dilakukan dandievaluasi dalam Komite Risiko Usaha (Business RiskCommittee ) untuk memastikan setiap penutupanpertanggungan telah memenuhi filosofi underwriting dan prinsip Good Corporate Governance . Hal ini didukung pula denganmelakukan pengawasan atas ketentuan formalpenjaminan/underwriting serta batasan dan standar yangberlaku demi perlindungan atas reasuradur.

16.621.691.954 20.206.083.613

2.185.765.764 2.042.127.411

2.083.701.609

37.358.043.609

Fungsi utama dari manajemen risiko Grup adalah untukmengidentifikasi seluruh risiko kunci, mengukur risiko-risiko ini danmengelola posisi risiko sesuai dengan kebijakan dan risk appetiteGrup. Grup secara rutin menelaah kebijakan dan sistemmanajemen risiko untuk menyesuaikan dengan perubahan dipasar, produk dan praktek pasar terbaik.

Transaksi dengan pihak-pihak berelasi dilakukan dengankebijakan harga dan syarat transaksi yang sama dengan pihakketiga.

2020 2019

89


38. KEBIJAKAN DAN TUJUAN MANAJEMEN RISIKO 38. FINANCIAL RISK MANAGEMENT OBJECTIVESKEUANGAN (Lanjutan) AND POLICIES (Continued)

a. Risiko asuransi (lanjutan) a. Insurance risk (continued)

Risiko penjamin/underwriting (lanjutan) Underwriting risk (continued)

1. Risiko kematian 1. Mortality risk

2. Risiko morbiditas 2. Morbidity risk

3. Risiko kejadian 3. Occurrence risk

4. Risiko tingkat keparahan 4. Severity risk

5. Risiko pengembangan 5. Development risk

Risk of loss arising due to policyholder death experiencebeing different than expected.

Kemungkinan bahwa biaya pada saat peristiwa terjadi akanberbeda dari yang diharapkan.

The possibility that the cost of the events will differ fromthose expected.

Risiko kerugian yang timbul karena kejadian sebelumnyaatas polis kematian yang berbeda dari yang diharapkan.

The possibility that the number of insured events will differfrom those expected.

Risiko kerugian yang timbul karena kejadian sebelumnyaatas polis kesehatan yang berbeda dari yang diharapkan.

Risk of loss arising due to policyholder health experiencebeing different than expected.

Kemungkinan atas jumlah kejadian yang diasuransikan akanberbeda dari yang diharapkan.

However, the uncertainty faced by the insurance companiescan not be described in the financial statements of insurancecompanies. The principle of uncertainty in the financialstatements are generally raised in the form of technicalreserves consisting of premium reserves and claims reserves.Premium reserves include reserves for unearned premiumsdue to policies has not yet matured and the cost of acquisitionis still pending, while claims reserves include reserves forclaims not yet settled.

Salah satu tujuan asuransi adalah agar pemilik polis diberikesempatan untuk melindungi diri mereka sendiri dariketidakpastian yang mungkin muncul di masa mendatang, yangdapat mengakibatkan kerugian keuangan, dengan caramengalihkan risiko tersebut kepada perusahaan asuransi.Perusahaan asuransi menerima pengalihan risiko tersebut daripemegang polis dengan menerima imbalan premi, dan denganmanajemen risiko yang diterapkan perusahaan asuransidiharapkan bahwa semua kumpulan premi yang diterima darisemua nasabahnya akan menghasilkan nilai tambah keuanganbagi Grup.

Kemungkinan bahwa perubahan yang dapat terjadi padajumlah kewajiban asuransi pada akhir masa kontrak.

Secara geografis, semua bisnis Grup berada di wilayahIndonesia. Artinya untuk risiko tertentu, Grup menghadapipenumpukan risiko di suatu lokasi dan oleh karenanyadibutuhkan usaha untuk menyebarkan risiko tersebut. Untukkeperluan manajemen dan penyebaran risiko ini, Grupmengembangkan strategi penempatan reasuransi sampai keluar negeri, sehingga risiko tidak terkonsentrasi lagi di dalamnegeri.

Geographically, all the Company's business is in the region ofIndonesia. This means that for certain risks, the Group facesthe risk of accumulation in a location and therefore therequired effort to spread the risk. For the purposes ofmanagement and deployment of these risks, the group isdeveloping strategies for placement of reinsurance to goabroad, so the risk is not concentrated in the country.

The possibility that changes may occur in the amount of aninsurer's obligation at the end of the contract period.

Namun demikian, ketidakpastian yang akan dihadapi olehperusahaan asuransi tidak dapat digambarkan dalam laporankeuangan perusahaan asuransi. Prinsip ketidakpastian dalamlaporan keuangan Grup umumnya dimunculkan dalam bentukcadangan teknis yang terdiri dari cadangan premi dancadangan klaim. Cadangan premi meliputi cadangan premiyang belum merupakan pendapatan dikarenakan polisnyabelum jatuh tempo dan biaya akuisisi yang masih ditunda,sementara cadangan klaim meliputi cadangan atas klaim yangbelum diselesaikan.

One goal of insurance is to give the opportunity to policyowners to protect themselves from the uncertainty that mightarise in the future, which could result in financial losses, bytransferring risk to insurance companies. Insurancecompanies accept the transfer of risk from policyholders toreceive compensation premiums, and risk managementconducted by the insurance company is expected that all thecollection of premiums received from all its customers willgenerate added value for the Group's finances.

90



a. Risiko asuransi (lanjutan) a. Insurance risk

Kontrak asuransi Insurance contract

Asumsi Utama Main Assumptions

Sensitivitas Sensitivity

Claim liabilities are very volatile to key assumptions used. It isnot possible to quantify the sensitivity of certain assumptionssuch as regulation change or uncertainty in the estimationprocess.

Liabilitas klaim sangat sensitif terhadap asumsi utama yangdigunakan. Hingga saat ini adalah hal yang tidak mungkin untukdapat menentukan tingkat sensitivitas dari beberapa asumsiseperti perubahan perundangan atau ketidakpastian dalamproses estimasi.

For purposes of risk management on significant amount ofinsurance coverage and special risk coverage, the Groupentered into proportional and/or non-proportional reinsurancecontracts with some local and foreign insurance andreinsurance companies.

Asumsi utama yang menjadi dasar dalam perhitungan estimasikewajiban klaim yaitu bahwa pembentukan klaim masa depanGrup akan memiliki pola yang sama dengan pembentukan klaimyang terjadi di masa lampau. Termasuk asumsi dari rata-ratabeban klaim, beban penanganan klaim, faktor inflasi klaim, danjumlah klaim untuk setiap tahun kecelakaan. Justifikasi kualitatiftambahan digunakan untuk memperkirakan tingkat di mana trenmasa lampau tidak akan terulang lagi di masa depan, misalnyakejadian khusus yang hanya terjadi sekali, perubahan yangterjadi di pasar seperti sikap masyarakat terhadap klaim, kondisiekonomi maupun faktor internal seperti campuran portofolio,syarat dan ketentuan polis dan prosedur penanganan klaim.

Justifikasi lebih lanjut digunakan untuk menghitung tingkat dimana faktor eksternal seperti keputusan peradilan danperaturan pemerintah yang mempengaruhi estimasi besaranklaim. Kondisi utama yang mempengaruhi keandalan dariasumsi yang digunakan adalah rasio kerugian, keterlambatandalam penyelesaian dan perubahan nilai tukar mata uang asing.

Dalam rangka manajemen risiko atas pertanggungan asuransiyang bernilai signifikan dan mempunyai risiko khusus, Grupmengadakan kontrak reasuransi baik yang bersifat proporsionalmaupun non-proporsional dengan beberapa perusahaanasuransi dan reasuransi dalam negeri dan luar negeri.

Eksposur risiko yang terkait dengan kontrak asuransi dapatdimitigasi dengan melakukan diversifikasi portofolio kontrakasuransi dan area geografis. Keberagaman risiko diperbaikijuga melalui pemilihan risiko dengan hati-hati dan implementasidari pedoman underwriting serta pengaturan programreasuransi.

The principal risk that the Group faces under insurancecontracts is the difference between actual claims, benefitpayments and claim dates from the one predicted previously.This is influenced by the frequency, severity of claims, actualbenefits paid and subsequent development of long-termclaims. Therefore, the objective of the Group is to ensure thatsufficient reserves are made to cover those liabilities.

Further justification is required to assess the extent to whichexternal factors such as judicial decisions and governmentregulations affect the claim estimates. Other key conditionsaffecting the reliability of assumption used are loss ratio, delayin settlement and changes in foreign currency exchange rates.

The risk exposure related to insurance contracts is mitigatedby diversification of insurance contracts portfolio andgeographical areas. The variability of risks is also improved byprudent risks selection and implementation of underwritingstrategy guidelines, as well as reinsurance programarrangements.

The principal assumption in calculating the claim reserveestimations is that the Group’s future claims development willfollow a similar pattern to historical claims development. Thisincludes assumptions on average claim costs, claim handlingcosts, claim inflation factors and claim numbers for eachaccident year. Additional qualitative judgments are used toassess the extent to which historical trends may not apply inthe future, for example: specific one-off occurrence, changesin market factors such as public attitude to insurance claims,economic conditions, as well as internal factors such asportfolio mix, policy terms and conditions and claims handlingprocedures.

Risiko utama yang dihadapi Grup terkait dengan kontrakasuransi adalah perbedaan antara jumlah klaim yang terjadi,manfaat yang dibayarkan dan waktu terjadinya klaim denganyang diprediksikan sebelumnya. Hal ini dipengaruhi olehfrekuensi, tingkat keparahan (severity ) dari klaim, manfaataktual yang dibayarkan, dan perkembangan dari klaim jangkapanjang. Oleh karena itu, tujuan Grup adalah untuk memastikanbahwa cadangan yang dibentuk cukup untuk memenuhi semualiabilitas tersebut.

91



b. Risiko kredit b. Credit risk

Bank Bank

Piutang premi Premiums receivablePiutang reasuransi Reinsurance receivablesPiutang lain-lain Other receivablesUang jaminan Refundable depositInvestasi Investment

Deposito berjangka Time depositsEfek Marketable securitiesPenyertaan saham Investment in stocks

Jumlah Total1.759.730.160.214

956.780.532.038 956.780.532.038

24.597.554.524

Jumlah Neto/

30.797.795.466

1.480.919.637.445 1.481.612.741.716 1.759.037.055.943

333.260.381.217

15.781.916.578

1.165.505.611

Credit risk includes the potential loss incurred on the risk ofcounterparties to meet contractual obligations. The Group isexposed to credit risk from underwriting in the business ofinsurance and the Group applies the provisions of credit toreduce this risk. Exposure for credit risk is monitored on anongoing basis.

1.165.505.611

Tabel berikut ini memberikan informasi mengenai maksimumkredit yang dihadapi oleh Grup pada 31 Desember 2020 dan2019:

17.510.563.757 17.510.563.757

1.148.125.354

Grup senantiasa melakukan penagihan premi dari pemegangpolis dan klaim dari reasuransi pada saat jatuh tempopenagihannya. Pengawasan terhadap saldo piutang dilakukansecara berkesinambungan untuk meminimalisasi piutang yangtidak dapat ditagih. Grup memilih reasuransi berdasarkanreputasinya dan yang mempunyai rating di atas A.

448.922.767.297

Gross Amounts

448.922.767.297

163.263.409.417 163.263.409.417

333.260.381.217 35.785.130.295

The following table provides information regarding themaximum credit risk exposure of the Group as of December31, 2020 and 2019:

Gross Amounts

271.574.305.617

15.088.812.307 1.098.831.018 1.148.125.354

913.697.709.487

1.098.831.018

24.099.764.372

271.574.305.617

Jumlah Neto/Jumlah Bruto/

24.099.764.372

The following table provides the credit quality and age analysisof the Group’s financial assets according to the Group’s creditratings of counterparties as of December 31, 2020 and 2019:

2019

Risiko kredit adalah risiko bahwa counterparty tidak akanmemenuhi liabilitasnya berdasarkan instrumen keuangan ataukontrak pelanggan, yang menyebabkan kerugian keuangan.Grup dihadapkan pada risiko kredit dari kegiatan operasi dandari aktivitas pendanaan, termasuk deposito pada bank danlembaga keuangan, transaksi valuta asing dan instrumenkeuangan lainnya. Risiko kredit terutama berasal dari piutangpremi dari pemegang polis, agen asuransi dan broker danpiutang reasuransi.

Credit risk is the risk that a counterparty will not meet itsobligations under a financial instrument or customer contract,leading to a financial loss. The Group is exposed to credit riskfrom its operating activities and from its financing activities,including deposits with banks and financial institutions, foreignexchange transactions and other financial instruments. Creditrisk arises mainly from premium receivables from policyholders, insurance agents and brokers and reinsurancereceivables from reinsurers.

Risiko kredit mencakup kerugian potensial yang terjadi atasrisiko dari counterparty untuk memenuhi liabilitaskontraktualnya. Grup terekspos terhadap risiko kredit dariunderwriting dalam usaha/bisnis asuransi dan Grupmenerapkan ketentuan kredit untuk mengurangi risiko ini.Eksposur atas risiko kredit ini dimonitor secaraberkesinambungan.

Tabel berikut memberikan kualitas kredit dan analisis umur asetkeuangan grup sesuai dengan peringkat kredit debitur gruppada tanggal 31 Desember 2020 dan 2019:

2020

1.165.505.611 913.697.709.487

35.785.130.295

1.165.505.611

The Group collects premiums from policyholders and claims ofreinsurance on the due date billing. Supervision of thereceivable balance is conducted continuously to minimize theamounts that can not be billed. Reinsurance companies arechosen based on reputation and which have a ratings of aboveA.

Jumlah Bruto/

30.797.795.466

Total Neto/

25.290.658.795

Total Neto/

92



b. Risiko kredit (lanjutan) b. Credit risk (continued)

Bank Bank

Piutang Premiums

premi receivable

Piutang Reinsurance

reasuransi receivables

Piutang lain-lain Other receivable

Uang Refundable

jaminan deposit

Investasi Investment

Deposito

berjangka Time deposits

Marketable

Efek securities

Penyertaan Investment

saham in stocks

Jumlah Total

Bank Bank

Piutang Premiums

premi receivable

Piutang Reinsurance

reasuransi receivables

Piutang lain-lain Other receivable

Uang Refundable

jaminan deposit

Investasi Investment

Deposito Time deposits

berjangka

Marketable

Efek securities

Penyertaan Investment

saham in stocks

Jumlah Total

1.759.730.160.214

1.481.612.741.716

414.549.267.858

297.652.232.702

319.852.792.926 1.111.874.125.933

1.279.316.493.180 431.170.911.402

163.263.409.417

913.697.709.487

333.260.381.217

956.780.532.038

271.574.305.617

448.922.767.297

693.104.271

9.361.010.612

1.165.505.611

1.148.125.354

> 90-120 days

Total

-

- - - 1.165.505.611

693.104.271

- 3.676.441.837 31.931.706.678

- 15.088.812.307

penurunan nilai/

7.900.001.296 41.292.717.290

- -

60-90 days impaired

37.887.684.256

due nor impaired

-

-

tidak mengalami

15.781.916.578

- 22.200.560.224 4.223.559.459

24.099.764.372

35.785.130.295

10.661.967.105

mengalami

tempo atau

Neither past

impaired

- 693.104.271

25.290.658.795

-

1.098.831.018 -

- - -

Belum jatuh

Total

17.510.563.757 -

1.148.125.354 - -

-

-

> 60 hari/

tempo atau tempo dan

6.431.152.971

-

Past due and

- -

-

Neither past Jumlah/

> 60 days

> 90-120 days

-

- 913.697.709.487

-

163.263.409.417

17.510.563.757

Telah jatuh

> 60 hari/ 60-90 hari/ > 90-120 hari/ Past due and

- -

tempo dan

-


- 1.165.505.611

penurunan nilai/

-

1.098.831.018

60-90 hari/ > 90-120 hari/

27.942.346.468 -

-

-

-

-

tidak mengalami

- - 956.780.532.038

-

-

- 16.621.643.544 4.230.814.134

-

- -

30.797.795.466 9.945.337.788

mengalami

penurunan nilai/

24.597.554.524 693.104.271

Jumlah/

> 60 days


60-90 daysdue nor impaired

Belum jatuh Telah jatuh

1.165.505.611

penurunan nilai/

24.099.764.372

-

271.574.305.617 -

-

-

-

93



c. Risiko Pasar c. Market Risk

Risiko Tingkat Suku Bunga Interest Rate Risk

Risiko Nilai Tukar Mata Uang Asing Foreign Exchange Currency Risk

Risiko mata uang asing adalah risiko dimana nilai wajar atauarus kas masa mendatang dari suatu instrumen keuangan akanberfluktuasi karena perubahan dari nilai tukar mata uang asing.

This risk is related to liabilities to be settled compared withexpected earnings in foreign exchange currencies. Exchangerates risk may also occur due to time difference betweenrecording of income and liability as a result of fluctuations ofexchange rates. Exchange rates risk is mitigated by applyingprudent underwriting and selecting appropriate strategiestowards funding utilization and transactions carried out inforeign currencies as well as applying compliance withrecording.

Pengaruh dari risiko perubahan nilai tukar mata uang asingterutama berasal dari aktivitas usaha Grup.

Interest rate changes may affect the Group's investmentresults, particularly impact on the level of income from portfolioinvestments in time deposit and bonds. For that, managementproactively placing the funds collected from the premiumcollection and recovery of reinsurance claims in a financialinstrument that brings a yield that is always competitive, inaddition to still consider the terms of the quality and security ofsuch investment.

Perubahan suku bunga dapat mempengaruhi hasil investasiGrup, terutama berdampak pada tingkat penghasilan dariportfolio investasi dalam deposito berjangka dan obligasi. Untukitu Manajemen proaktif menempatkan dana-dana yangterhimpun dari hasil penagihan premi dan recovery klaimreasuransi dalam instrumen keuangan yang mendatangkanyield yang selalu kompetitif, disamping tentunya tetapmemperhatikan segi kualitas dan keamanan investasi tersebut.

The Company’s exposure to the risk of changes in foreignexchange rates relates primarily to the Group’s operatingactivities.

Grup memonitor secara ketat fluktuasi dari nilai tukar mata uangasing sehingga dapat mengambil langkah-langkah yang palingmenguntungkan Grup pada waktu yang tepat. Manajemen tidakmenganggap perlu untuk melakukan transaksi forward/swap mata uang asing saat ini.

Risiko nilai tukar dikaitkan dengan kewajiban yang harusdilunasi dibandingkan pendapatan yang diterima dalam bentukvaluta asing. Disamping itu potensi risiko nilai tukar juga dapatterjadi karena perbedaan waktu pencatatan pendapatan dengankewajiban pada saat nilai tukar fluktuatif. Risiko nilai tukardimitigasi dengan melakukan pengendalian risiko nilai tukarmelalui penerapan prinsip kehati-hatian dan pemilihan strategiyang tepat (lindung nilai) terhadap penyediaan dana dantransaksi yang mencakup eksposure risiko dalam valuta asing,serta menerapkan kepatuhan dalam pencatatan.

Foreign exchange currency risk is the risk that the fair value orfuture cash flows of a financial instrument will fluctuatebecause of changes in foreign exchange rates.

Risiko pasar adalah risiko dimana nilai wajar dari arus kas masadepan dari suatu instrumen keuangan akan berfluktuasi karenaperubahan harga pasar. Grup dipengaruhi oleh risiko pasar,terutama risiko tingkat suku bunga, dan risiko nilai tukar matauang asing.

Market risk is the risk that the fair value of future cash flows ofa financial instrument will fluctuate because of changes inmarket prices. The Group is exposed to market risks, inparticular, interest rate risk and foreign currency exchangerisk.

The Group closely monitors the foreign exchange ratefluctuation and market expectation so it can take necessaryactions benefited most to the Group in due time. Themanagement currently does not consider the necessity toenter into any currency forward/swaps.

As of December 31, 2020 and 2019, the Group is exposed tochanges in market interest rates through its cash in banks,time deposit, and bonds which are subject to variable interestrates (Notes 4 and 8). All other financial assets and liabilitieshave fixed rates.

Pada tanggal 31 Desember 2020 dan 2019, Grup menunjukkanperubahan suku bunga pasar melalui kas dan bank, depositoberjangka, dan obligasi yang merupakan suku bunga variabel(Catatan 4 dan 8). Seluruh aset dan liabilitas keuanganmenggunakan suku bunga tetap.

94



c. Risiko Pasar (lanjutan) c. Market Risk (continued)

Aset AssetsKas dan bank Cash on hand and in banks

Dolar AS US DollarPiutang premi Premium receivable

Dolar AS US Dollar Dolar Singapura Singapore DollarDolar Australia Australian DollarEuro Euro

Piutang reasuransi Reinsurance receivablesDolar AS US Dollar Euro EuroDolar Singapura Singapore Dollar

Deposito berjangka Time depositsDolar AS US Dollar

Efek Marketable securitiesDolar Singapura Singapore Dollar

Jumlah aset Total assets

Liabilitas LiabilitiesUtang klaim Claim payable

Dolar AS US Dollar Dolar Singapura Singapore Dollar

Utang reasuransi Reinsurance payableDolar AS US Dollar Euro EuroDolar Australia Australian DollarDolar Singapura Singapore Dollar

Utang komisi Commission payable

Dolar AS US dollar

Jumlah liabilitas Total liabilities

Aset neto Net assets

d. Risiko likuiditas d. Liquidity risk

Equivalent in Rupiah Foreign Currency

489.443.743

Mata uang Asing/

44.449

2020

2.386.331.640 217.408.555

- - 1.461.596.266

15.079 235.067.047

6.149.744 86.742.176.754

1.392.263.669

Ekuivalen Rupiah/Mata uang Asing/Ekuivalen Rupiah/

5.987 63.724.114 4.409.025

2.584.108.376

34.700

2019

Equivalent in Rupiah

15.854 274.754.134

4.535 25.013 347.706.797

Risiko likuiditas adalah risiko dimana Grup tidak bisa memenuhiliabilitas pada saat jatuh tempo. Manajemen melakukanevaluasi dan pengawasan yang ketat atas arus kas masuk(cash-in ) dan kas keluar (cash-out ) untuk memastikantersedianya dana untuk memenuhi kebutuhan pembayaranliabilitas yang jatuh tempo. Secara umum, kebutuhan danauntuk pelunasan liabilitas jangka pendek maupun jangkapanjang yang jatuh tempo diperoleh dari penjualan kepadapelanggan.

Liquidity risk is the risk that the Group is unable to meet itsobligations when they fall due. The management evaluatesand monitors cash - in flows and cash - out flows to ensure theavailability of fund to settle the due payment obligation. Ingeneral, fund needed to settle the current and long - termliabilities is obtained from selling insurance to customers.

39.519.757.109

108.384.422.501

1.333.191.018 49.011 505.825.969

587.258.539 148.520

45.582 710.565.645 3.466.443 48.894.199.797

125.252

41.635

2.842.942

- -

692.894.912

541.845.370

-

160.605.871.783

-

6

209.335.186.637

52.221.449.282 43.153.633.690

2.064.577.076

166.181.552.947

141.617

65.001 1.126.474.069

Berikut adalah posisi aset dan liabilitas moneter dalam matauang asing pada tanggal 31 Desember 2020 dan 2019:

The following table shows monetary assets and liabilities inforeign currency as of December 31, 2020 and 2019:

48.276.057 498 5.143.341

47.125 816.678.501 57.753

61.289.874.774

224.193

3.651.647

21.065

38.415

8.783.897 90.656.318.286

Foreign Currency

185.894

50.761.557.554 4.813.650 67.896.552.471

115.308 1.626.414.858

44.097.198

100.156

4.528

95



d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)

Utang klaim Claim payableUtang reasuransi Reinsurance payableUtang komisi Commission payable

Liabilitas imbalan Short term employeekerja jangka pendek benefits


Jumlah Total

Utang klaim Claim payableUtang reasuransi Reinsurance payableUtang komisi Commission payable

Liabilitas imbalan Short term employeekerja jangka pendek benefits


Jumlah Total


e. Manajemen risiko modal e. Capital risk management

-

3 bulan/

Within 3 months

10.008.719.713 628.260.892

3-12 months > 3 years

Kurang dari 1 tahun/

243.773.330.642

3.661.865.237

> 3 tahun/3-12 bulan/

- 432.188.696

-

20.410.067.828

53.047.296.845

5.010.409.582

17.105.872.604

4.436.584.844

68.890.704.355

-

774.719.607 -

167.202.748.780

-

-

628.260.892

Within 3 months 3-12 months

Total

1.183.174.000

Lebih dari 1 tahun/

Grup mengelola struktur permodalan dan melakukanpenyesuaian, berdasarkan perubahan kondisi ekonomi. Untukmemelihara dan menyesuaikan struktur permodalan,Perusahaan dapat menyesuaikan pembayaran dividen kepadapemegang saham, imbalan modal kepada pemegang sahamatau menerbitkan saham baru. Tidak ada perubahan atastujuan, kebijakan maupun proses pada periode berakhir padatanggal-tanggal 31 Desember 2020 dan 2019.

96.165.767.714

77.435.441.819

The above contractual maturities reflect the gross cash flows,which may differ from the carrying values of the liabilities at theend of the reporting period.

Less than 1 year

- 164.133.703.655

687.572.254 -

- 17.485.000.000

-

187.051.972.464

50.200.676.519

17.485.000.000 -

Total/

827.584.834

10.000.000.000

- 364.092.047.170

1 - 3 tahun/

1-3 years

Tujuan utama pengelolaan modal Perusahaan adalah untukmemastikan pemeliharaan rasio modal yang sehat untukmendukung usaha dan memaksimalkan imbalan bagipemegang saham.

The primary objective of the Company’s capital managementis to ensure that they maintain healthy capital ratios in order tosupport its business and maximize shareholder value.

-

More than 1 year

2019*)

5.837.994.416

19.220.962.792

- 12.595.190.514 108.760.958.228

11.069.169.301

Kontrak atas jatuh tempo diatas menggambarkan arus kasbruto yang berbeda dari nilai tercatat atas liabilitas pada akhirperiode laporan.

The Group manages its capital structure and makesadjustments to it, in light of changes in economic conditions.To maintain or adjust the capital structure, the Company mayadjust the dividend payment to shareholders, issue newshares or raise debt financing. No changes were made in theobjectives, policies or processes for the years endedDecember 31, 2020 and 2019.

-

- -

- 51.383.850.519

10.000.000.000

The Group’s policy is to maintain a healthy capital structure inorder to secure access to finance at a reasonable cost.

140.520.818.239 - - 160.930.886.067 16.102.088.441 316.211.909

1-3 years > 3 years Total

Kurang dari 1 tahun/ Lebih dari 1 tahun/

Less than 1 year More than 1 year

3 bulan/ 3-12 bulan/ 1 - 3 tahun/ > 3 tahun/ Total/

2020

Kebijakan Grup adalah untuk menjaga rasio modal yang sehatdalam rangka untuk mengamankan pembiayaan pada biayayang wajar.

42.883.274.709

42.195.702.455

96



e. Manajemen risiko modal (lanjutan) e. Capital risk management (continued)

Jumlah liabilitas Total liabilities

Dikurangi: Less:Kas dan bank Cash on hand and in banks

Liabilitas neto Net liabilitiesEkuitas Equity

Modal saham Capital stockTambahan modal disetor Additional paid in capitalSaldo laba Retained earnings

Total ekuitas Total equity

Utang terhadap ekuitas Liabilities to equity


39. SEGMEN OPERASI 39. OPERATING SEGMENT

a. Segmen usaha a. Business segment

2020 2020

Pendapatan premi Premium income

Premi bruto Gross premiums

Premi reasuransi Reinsurance premium

Perubahan bersih premi

yang belum merupakan Net change in

pendapatan unearned

Jumlah pendapatan Total premiums

premi income

Beban underwriting Underwriting expenses

Beban klaim Claim expenses

Klaim bruto Gross claims

Klaim reasuransi Reinsurance claims

Perubahan bersih estimasi Net change in estimated

liabilitas klaim claim liabilities

Jumlah beban Total claim

klaim expenses

1.954.498.917.680 1.577.331.540.407

1.930.394.653.308 1.559.816.476.650

(27.136) (4.675)

Ratio of net debt to equity as of December 31, 2020 and 2019are as follows:

543.417 23.300

5.209

(2.204) (849) (281.745) (2.317)

34.384 42.564

2.732 14.997

27.327 43.617

110.346

40.866

3.809

(42.023)

39.952

(6.159) (4.320)

718.652

(204) 42.636

5.737

(1.844)

1.181.160

20.654

(244.564)

24.104.264.372 17.515.063.757

Life andKesehatan/ Lain-lain/ Kematian/Pengangkutan/Jiwa dan

Jumlah/Kebakaran/

75.000.000.000 102.724.933.405

(dalam jutaan Rupiah/ in millions Rupiah)

215% 187%

Grup mengklasifikasikan lini bisnisnya atas asuransi kebakaran,kendaraan bermotor, pengangkutan laut, kesehatan, jiwa dankematian dan lain-lainnya untuk pelaporan segmen primernya.

The Group classifies its lines of business into fire, vehicle,marine cargo, health, life and death and others for its primarysegment reporting.

Fire Motor vehicle cargo Health

1.693.224 561.262

bermotor/

27.469 861.099

(471.791) (14.249)

(409) (17.604) (2.975)

957.761

126.279 122.848 12.811 837.336 41.934

(38.350)

69.250

49.229

102.724.933.405 718.110.307.484

83.819

834.325.568.296

Rasio utang neto terhadap ekuitas pada tanggal 31 Desember2020 dan 2019 adalah sebagai berikut:

20.909

Marine

895.835.240.889

656.600.634.891

Kendaraan

(40.273)

310.005 530.737

death Others Total

648

(396.633) (8.407)

75.000.000.000

2020 2019*)

97


39. INFORMASI SEGMEN (Lanjutan) 39. SEGMENT INFORMATION (Continued)

a. Segmen usaha (lanjutan) a. Business segment (continued)

2020 2020

Commission expense

Beban komisi - bersih - net

Beban underwriting Other underwriting

lainnya expenses

Jumlah beban Total underwriting

underwriting expenses

Underwriting

Hasil underwriting income

2019 2019

Pendapatan premi Premium income

Premi bruto Gross premiums


Perubahan bersih premi

yang belum merupakan Net change in

pendapatan unearned

Jumlah pendapatan Total premiums

premi income


Beban klaim Claim expenses

Klaim bruto Gross claims


Perubahan bersih estimasi Net change in estimated

liabilitas klaim claim liabilities

Jumlah beban Total claim

klaim expenses

Commission expense

Beban komisi - bersih -net

Beban underwriting Other underwriting

lainnya expenses

Jumlah beban Total underwriting

underwriting expenses

Underwriting

Hasil underwriting income

62.505

49.155 5.645 683.691

586 (356) (12.244)

46.425 68.542 3.703

(14.742)

43.484 41.851 2.014 686.323 18.055

(1.713)

270.630

21.579

Jumlah/Total


89.900 (430) 703

72.022

26.676

Marine

(23.904) 19.238

cargo

5.819 (7) (639)

- (343)

1.057.790

5.326

1.459.602 51.052

(383.034)

cargo

14.810 1.091.428

(13.847)

(180) 53 148 16.325 (2.135)

26.105 2.045

17.683

(1.022)

54.257 279.133 7.511 139.634 12.815

64.892

4.573

Kendaraan

64.385

Jiwa dan

-

Others

Jiwa dan


Kebakaran/ Life and Lain-lain/

29.119

Kendaraan

118.483

Kematian/Pengangkutan/bermotor/ Kesehatan/

135.951

649

60.343

Motor vehicle death

1.634

death Others

35.379

Lain-lain/

Health

902.027

Kesehatan/

Fire

Marine

(319.588) (1.907)

Kebakaran/ Jumlah/

5.300 697.702

(1.215) 5.393 168 7.618

(4.660)

(212.121)

60.173 76.083

TotalFire Motor vehicle

771.857 23.844

Health

Pengangkutan/ Kematian/

(2.432) (2.416) (2.761)

19.802

Life andbermotor/

(6.139)

455.719 130.364 26.766

3.524

(15.025) (4.872)

14.860

15.108 889.609

(7.933)

89.526 57.215 9.364 47.791 (1.777)

19.600

125.757 13.067 782.043

(36.891)

16.473

(241.657)

(298)

808.200

29.069

(20.214)

201.819

734.252

98



b. Segmen geografis b. Geographical segment

Pendapatan underwriting Underwriting revenues

Premi bruto Gross premium

Jabodetabek JabodetabekSumatera SumateraJawa Timur Jawa TimurJawa Barat Jawa BaratJawa Tengah Jawa TengahMakassar MakassarBali Bali Balikpapan Balikpapan



Perubahan neto premi yang Net changes in belum merupakan pendapatan unearned premium


Pendapatan premi - neto Net premium income

1.270.164.190.160

1.459.602.169.507

1.091.428.907.952

1.481.673.991.540

1.693.224.032.388

(471.791.156.962)

1.181.159.535.657

(66.774.502)

(41.371.232.010)

67.530.480 (3.418.049.761)

(40.273.339.769) 14.860.424.927

(351.779.022)

(185.958.113) 173.902.179

4.601.195.123 5.993.664.305 2.435.955.827

(346.687.735) 1.329.446.872

(12.986.676.117) (11.135.339.919) (672.274.776) (242.357.387)

1.988.574.610

477.959.775 (75.624.363)

(383.033.686.482)

(13.329.093.005) (6.494.153.953)

(213.233.940) (172.540.338)

(29.840.274.394) 7.368.280.124

(48.277.823.363)

6.155.641.258

(550.903.641) (455.216.934)

(351.180.517.425) (295.975.831.191)

(1.055.997.957) 3.393.603.120 (9.038.132.803)

(44.580.634.695) (27.187.014.750)

27.216.651.704 24.988.289.691 5.927.071.972 6.281.530.381

23.200.554.062 18.439.762.123

Grup juga mengklasifikasikan bisnis usahanya berdasarkanwilayah geografis, pendapatan Grup berdasarkan wilayahgeografis adalah sebagai berikut:

The Group also classifies its business based on geographicalarea. The Group's revenue based on geographical area are asfollows:

Berdasarkan pasar geografis/By geographical market

2020 2019

76.902.833.673 54.447.455.239 71.265.778.487 77.298.702.998

99



b. Segmen geografis (lanjutan) b. Geographical segment (continued)


Klaim bruto Gross claim




Perubahan neto estimasi klaim retensi sendiri Net changes in estimated claims for own retention


Klaim neto Net claimsJabodetabek JabodetabekSumatera SumateraJawa Timur Jawa TimurJawa Barat Jawa BaratJawa Tengah Jawa TengahMakassar MakassarBali Bali Balikpapan Balikpapan

1.057.789.982.510

6.983.133.661

10.915.643.114 38.068.654.697

70.504.348 (99.369.979) (33.167.643)

12.523.766.901

11.731.786.586 17.043.755.484 26.089.272.669 12.217.895.058

42.635.699.588 (7.933.178.627)

4.542.360.586

658.540.079

5.778.799.094

2.156.232.632 2.376.293.364 866.590.673

718.652.308.132 808.200.176.210

2.507.967.638 6.525.880.354

(1.402.733.114) 1.531.310.893

(8.751.095.322) (13.088.660.149) (6.108.944.414) (2.161.156.262)

- (32.555.683)

(281.744.535.308) (241.656.627.673)

(132.171.765)

6.386.146.170 (5.807.825.313) (850.427.017) (1.015.891.153)

(2.720.574.053) (10.427.050.577)

37.851.324.998 16.056.243.629 3.334.625.899 (8.128.303.073)

(3.271.713) (37.885.653)

(9.221.956.539) (18.649.902.035) (34.934.672)

(42.293.054)

663.983.014.281 750.867.195.282

(2.518.482.427) (12.896.596.140)

31.114.380.520 13.942.505.092

957.761.143.852

34.855.751.706 5.126.741.227

2.088.999.997 2.513.548.996

(255.105.850.221) (194.657.699.986)

2019

881.237.539.504 929.468.651.639


2020

28.454.221.821

691.707.722 941.439.409

16.484.891.178 3.945.635.424

15.700.814.316

100



b. Segmen geografis (lanjutan) b. Geographical segment (continued)

Beban komisi - bersih Commission expense - netBeban underwriting lainnya Other underwriting expense

Jumlah beban underwriting Total underwriting expenses

Hasil underwriting Underwriting income

40. INSTRUMEN KEUANGAN 40. FINANCIAL INSTRUMENT


Aset keuangan yang Financial assets

diukur pada nilai wajar measured at fair value

melalui laba rugi through profit or loss

Saham Shares


Efek beragunan aset Asset backed securities

Obligasi Bonds

Piutang yang diberikan

dan pinjaman Loans and receivables

Kas dan bank Cash and bank

Piutang premi Premium receivables

Piutang reasuransi Reinsurance receivables

Piutang lain-lain Other receivables

Deposito berjangka Time deposits

Uang jaminan Refundable deposits

Aset keuangan tersedia Available for sale

untuk dijual financial assets

Saham Shares



Penyertaan saham Investments in stocks

894.562.500

352.300.159.904 177.023.574.446

455.414.966.116

352.300.159.904

144.724.048.100 144.724.048.100

5.326.115.191

30.797.795.466 30.797.795.466

24.597.554.524

5.053.200.000

801.095.518.294 801.095.518.294 566.060.922.347 566.060.922.347

1.165.505.611 1.165.505.611 1.165.505.611

15.088.812.307

1.165.505.611

271.574.305.617

455.414.966.116

5.027.500.000

413.966.730.379

143.610.127.950

2020 2019Nilai tercatat/

17.515.063.757

448.922.767.297 448.922.767.297

Tabel di bawah ini adalah perbandingan nilai tercatat dan nilaiwajar dari instrumen keuangan Grup yang dicatat di laporankeuangan.

The table below is a comparison by class of the carrying amountsand fair value of the Group’s financial instruments that are carriedin the financial statements.

-

1.197.332.141 1.197.332.141

5.027.500.000

163.263.409.417

1.098.831.018 1.098.831.018

889.609.823.528

-

Fair value

413.966.730.379

1.148.125.354

35.785.130.295

17.515.063.757

279.132.417.569

2020

35.785.130.295

333.260.381.217 333.260.381.217

24.104.264.372 24.104.264.372

497.816.080.316

201.819.084.424

894.562.500

322.725.597.037

5.053.200.000

1.148.125.354

271.574.305.617

902.027.118.088

177.023.574.446

Carrying value Fair value Carrying value

322.725.597.037

143.610.127.950

Nilai wajar/ Nilai tercatat/ Nilai wajar/

24.597.554.524

420.159.735.990 420.159.735.990 552.289.990.013 552.289.990.013

15.088.812.307

-

163.263.409.417

497.816.080.316

64.891.464.450 76.083.532.127


2019

118.483.345.506

- 90.656.318.286 90.656.318.286

791.872.312 791.872.312

101


40. INSTRUMEN KEUANGAN (Lanjutan) 40. FINANCIAL INSTRUMENT (Continued)


Aset keuangan dimiliki Held to maturity

hingga jatuh tempo financial assets

Obligasi Bonds

Jumlah aset keuangan Total financial assets

Liabilitas keuangan Financial liabilities

Liabilitas keuangan yang

yang dicatat Financial liabilities

berdasarkan biaya measured at amortized

perolehan diamortisasi cost

Utang klaim Claims payable

Utang Reasuransi Reinsurance payables

Utang komisi Commissions payables


Liabilitas imbalan Short term employee

jangka pendek benefits

Jumlah liabilitas keuangan Total financial liabilities


1.759.041.555.943

4.436.584.844

164.133.703.655 164.133.703.655

44.685.872.910 39.847.628.048

187.051.972.464

Nilai wajar aset lancar dan liabilitas jangka pendek mendekati nilaitercatat karena jangka waktu jatuh tempo yang singkat atasinstrumen keuangan tersebut.

Investasi yang tidak memiliki kuotasi harga di pasar yang aktifberupa penyertaan saham pada PT Reasuransi MaiparkIndonesia, Konsorsium Asuransi atas Risiko Khusus, PT FajarNusa Langgeng dan Sertifikat Dewan Asuransi Indonesia yangnilai wajarnya tidak dapat ditentukan dengan andal, maka dicatatpada harga perolehan.

Carrying value

Unquoted investments in shares of stock of PT ReasuransiMaipark Indonesia, Konsorsium Asuransi atas Risiko Khusus, PTFajar Nusa Langgeng and Sertifikat Dewan Asuransi Indonesia,wherein the fair values cannot be reliably measured are carried atcost.

39.970.221.343

108.760.958.228

51.383.850.519

1.763.757.207.510

364.092.047.170

The fair value of refundable deposits is carried at cost because itsfair value cannot be measured reliably and considered notmaterial.

10.000.000.000

187.051.972.464 364.092.047.170

17.485.000.000 17.485.000.000

5.837.994.416

51.383.850.519

2020

5.837.994.416

Carrying value

Nilai wajar/2019*)

Nilai tercatat/ Nilai wajar/

43.030.833.780

The fair value of financial assets held to maturity is determined bydiscounting cash flow using effective market interest rate.

108.760.958.228

Nilai wajar uang jaminan dicatat sebesar biaya perolehan karenatidak dapat diukur secara andal dan dianggap tidak material atasnilai wajarnya.

Fair value

The fair value of current assets and current liabilities approximatetheir carrying amounts largely due to the short-term maturities ofthese instruments.

17.105.872.604 11.069.169.301

Fair value

Berikut metode dan asumsi yang digunakan untuk estimasi nilaiwajar:

The following methods and assumptions are used to estimate thefair value:

17.105.872.604

4.436.584.844

Nilai tercatat/

1.480.924.137.445

10.000.000.000

1.484.107.343.177

Nilai wajar dari aset keuangan yang dimiliki hingga jatuh tempoditentukan menggunakan diskonto arus kas berdasarkan tingkatsuku bunga pasar efektif.

11.069.169.301

160.930.886.067 160.930.886.067

102



a. Tingkat 1 a. Level 1

b. Tingkat 2 b. Level 2

c. Tingkat 3 c. Level 3

Aset Keuangan Financial assets

Aset keuangan

diperdagangkan Trading

Saham SharesReksadana Mutual funds

Efek beragunan aset Asset backed securities

Obligasi Bonds

Aset keuangan tersedia Available for sale

untuk dijual financial assets

Saham Shares

Reksadana Mutual funds


Jumlah Total

-

Tingkat 3/

144.724.048.100

Fair value estimation

Quoted prices (unadjusted) in active markets for identicalassets or liabilities.

Total/

-

Inputs other than quoted prices included within level 1 that areobservable for the asset or liability, either directly (as prices) orindirectly (derived from prices).

Inputs for the asset or liability that are not based onobservable market data (unobservable inputs).

413.966.730.379

Harga kuotasian (tidak disesuaikan) dalam pasar aktif untukaset atau liabilitas yang identik.

Tingkat 2/

-

- -

5.027.500.000

- -

-

916.810.310.695

-

Input untuk aset atau liabilitas yang bukan berdasarkan datapasar yang dapat diobservasi (input yang tidak dapatdiobservasi).

Tabel di bawah ini menganalisis intrumen keuangan yang dicatatpada nilai wajar berdasarkan tingkatan metode penilaian.Perbedaan pada setiap tingkatan metode penilaian dijelaskansebagai berikut:

The table below analyses financial instruments carried at fairvalue, by level of valuation method. The different levels ofvaluation methods have been defined as follows:

Level 3Tingkat 1/Level 1

Pada tanggal 31 Desember 2020 dan 2019, Grup memilikiinstrumen keuangan berikut dicatat pada nilai wajar dalam laporanposisi keuangan konsolidasian:

Estimasi nilai wajar

352.300.159.904

2020

352.300.159.904

Total

- - -

Level 2

5.027.500.000

144.724.048.100

As of December 31, 2020 and 2019, the Group had the followingfinancial instruments measured at fair value in the consolidatedstatement of financial position:

916.810.310.695

-

Input selain harga kuotasian yang termasuk dalam tingkat 1yang dapat diobservasi untuk aset atau liabilitas, baik secaralangsung (misalnya harga) atau secara tidak langsung(misalnya derivasi dari harga).

-

413.966.730.379

- -

791.872.312 - - 791.872.312

- -

103



Aset Keuangan Financial assets

Aset keuangan

diperdagangkan Trading

Saham SharesReksadana Mutual fundsEfek beragunan aset Asset backed securities

Obligasi Bonds

Aset keuangan tersedia Available for saleuntuk dijual financial assets

Saham SharesReksadana Mutual fundsDana investasi real estat Real estate investment trust

Jumlah Total

a. a.

b. b.

c. c.

1.197.332.141

-

If one or more of the significant inputs is not based on observablemarket data, the instrument is included in level 3. This is the casefor unlisted equity securities.

-

-

894.562.500

1.197.332.141 - -

143.610.127.950

873.850.081.439 873.850.081.439

-

Teknik lain seperti analisis arus kas yang didiskonto digunakanuntuk menentukan nilai instrumen keuangan lainnya.

Tingkat 1/

-

The fair value of financial instruments that are not traded in anactive market is determined using valuation techniques. Thesevaluation techniques maximize the use of observable market datawhere it is available and rely as little as possible on estimates. Ifall significant inputs required to fair value an instrument areobservable, the instrument is included in level 2.

Teknik penilaian tertentu digunakan untuk menentukan nilaiinstrumen keuangan mencakup :

Specific valuation techniques used to value financial instrumentsinclude :

Penggunaan harga yang diperoleh dari bursa atau pedagangefek untuk instrumen sejenis.

The use of quoted market prices or dealer quotes for similarinstruments.

Jika satu atau lebih input yang signifikan tidak berdasarkan datapasar yang dapat diobservasi, maka instrumen tersebut masuk kedalam tingkat 3. Ini berlaku untuk surat-surat berharga ekuitasyang tidak diperdagangkan di bursa.

455.414.966.116

Other techniques, such as discounted cash flows analysis, areused to determine fair value for the remaining financialinstruments.

143.610.127.950 -

The fair value of forward foreign exchange contracts isdetermined using forward exchange rates at the reportingdate.

455.414.966.116

Nilai wajar untuk instrumen keuangan yang diperdagangkan dipasar aktif ditentukan berdasarkan kuotasi nilai pasar pada tanggalpelaporan. Kuotasi nilai pasar yang digunakan Grup untuk asetkeuangan adalah harga penawaran (bid price ), sedangkan untukliabilitas keuangan menggunakan harga jual (ask price ). Instrumenkeuangan ini termasuk dalam tingkat 1.

The fair value of financial instruments traded in active markets isbased on quoted market prices at the reporting date. The quotedmarket price used for financial assets held by the Group is thecurrent bid price, while financial liabilities use ask price. Theseinstruments are included in level 1.

-

Level 2Tingkat 2/

5.053.200.000

177.023.574.446 177.023.574.446 - - 894.562.500

Tingkat 3/ Total/Level 1 TotalLevel 3

-

Nilai wajar kontrak mata uang asing berjangka ditentukanberdasarkan kurs tukar berjangka pada tanggal pelaporan.

5.053.200.000 - - 90.656.318.286

-

2019

Nilai wajar instrumen keuangan yang tidak diperdagangkan dipasar aktif ditentukan dengan menggunakan teknik penilaiantertentu. Teknik tersebut menggunakan data pasar yang dapatdiobservasi sepanjang tersedia, dan seminimal mungkin mengacupada estimasi. Apabila seluruh input signifikan atas nilai wajardapat diobservasi, instrumen keuangan ini termasuk dalam tingkat2.

-

90.656.318.286

104


41. INFORMASI PENTING LAINNYA 41. OTHER SIGNIFICANT INFORMATION

Tingkat solvabilitas Solvency MarginTotal aset yang diperkenankan Total admitted assets

Investasi InvestmentsBukan investasi Non Investments

Jumlah Jumlah

Liabilitas (kecuali pinjaman subordinasi) Liabilities (except for subordinated loan)

Jumlah tingkat solvabilitas Total solvency margin

Batas Tingkat Solvabilitas Minimum (BTSM) Required Minimum Solvency Margin

Jumlah Batas Tingkat Solvabilitas Minimum Total Required Minimum Solvency Margin

Kelebihan Batas Tingkat Excess over the RequiredSolvabilitas Minimum Minimum Solvency Margin

Rasio Pencapaian Solvabilitas Solvency Ratio

1.096.007.767.116

1.975.362.321.800

1.507.616.950.034

1.022.047.225.177 1.330.607.918.761

2.352.655.143.937

1.874.263.075.189

467.745.371.766 478.392.068.749

Analisis kekayaan dan perhitungan batas tingkat solvabilitas

2020

879.354.554.684

2019

Assets analysis and calculation of solvency margin

Perhitungan tingkat solvabilitas perusahaan tersebut diatasdapat dijelaskan sebagai berikut:

Calculation of the Company’s solvency is determined as:

Minimum solvency margin is calculated by consideringunsuccessful assets management, imbalance betweenprojected flows of assets and liabilities, imbalance betweenassets and liabilities value in each currency, the differencesbetween claims expense incurred and estimated claimsexpense, insufficient premium as a result of differencesbetween investment income assumed in determiningpremiums and investment income earned, inability of reinsurerto pay claims and other deviations arising from assets andliabilities management.

Sesuai dengan Peraturan Otoritas Jasa KeuanganNo. 71/POJK.05/2016 tanggal 28 Desember 2016penyempurnaan atas Peraturan Menteri Keuangan RepublikIndonesia No. 53/PMK.010/2012 tanggal 3 April 2012, Grupdiwajibkan untuk menjaga rasio solvabilitas yang dihitungdengan menggunakan pendekatan Modal Minimum BerbasisRisiko (“MMBR”). Grup setiap saat wajib memenuhi tingkatsolvabilitas minimum sebesar 120% dari risiko kerugian yangmungkin timbul sebagai akibat dari deviasi dalam pengelolaankekayaan dan liabilitas.

In accordance with Regulation of Financial Services AuthorityNo. 71/POJK.05/2016 dated December 28, 2016 improvementRegulation of the Minister of Finance of the Republic IndonesiaNo. 53/PMK.010/2012 dated April 3, 2012, the Group isrequired to maintain solvency ratio, which is calculated byusing Minimum Risk Based Capital ('MRBC") approach. TheGroup has to meet at all times a solvency margin of at least120% of risk of loss that might arise from deviation of assetsand liabilities management .

Batas tingkat solvabilitas minimum dihitung denganmempertimbangkan kegagalan pengelolaan kekayaan,ketidakseimbangan antara proyeksi arus kekayaan danliabilitas, ketidakseimbangan antara nilai kekayaan dan liabilitasdalam setiap jenis mata uang, perbedaan antara beban klaimyang terjadi dan beban klaim yang diperkirakan, ketidakcukupanpremi akibat perbedaan hasil investasi yang diasumsikan dalampenetapan premi dengan hasil investasi yang diperoleh,ketidakmampuan pihak reasuradur untuk memenuhi liabilitasmembayar klaim dan deviasi lainnya yang timbul daripengelolaan kekayaan dan liabilitas.

252.544.980.747 235.595.992.578

225.847.088.001 232.149.379.188

189% 199%

105


42. REKLASIFIKASI ATAS AKUN LAPORAN KEUANGAN 42. RECLASIFICATION FINANCIAL STATEMENTS OF ACCOUNTS

Laporan Posisi Keuangan Consolidated Statement of Konsolidasian Financial Position31 Desember 2019 December 31, 2019

Biaya dibayar dimuka dan Prepaid expenses anduang muka advances


Laporan Posisi Keuangan Statement of Financial Position31 Desember 2019 December 31, 2019

Biaya dibayar dimuka dan Prepaid expenses anduang muka advances


43. KETIDAKPASTIAN KONDISI EKONOMI 43. ECONOMIC ENVIRONMENT UNCERTAINTY

Reklasifikasi ini tidak mempengaruhi laba bersih untuk tahun yangberakhir pada tanggal 31 Desember 2019 yang dilaporkansebelumnya.

These reclassifications did not affect the net profit for the yearended December 31, 2019, as previously reported.

13.288.301.387 2.137.230.395 15.425.531.782

49.246.620.124 2.137.230.395 51.383.850.519

13.182.303.364 2.137.230.395 15.319.533.759

46.830.460.780 2.137.230.395 48.967.691.175

Akun-akun tertentu pada laporan posisi keuangan konsolidasianpada tanggal 31 Desember 2019 telah direklasifikasi untukmenyesuaikan atas penyajian laporan posisi keuangankonsolidasian pada tanggal 31 Desember 2020 untukmencerminkan klasifikasi yang sesuai atas transaksi dan saldoadalah sebagai berikut:

Certain accounts in the consolidation statement of financialposition as of December 31, 2019 have been reclassified toconform to the presantation of the consolidation statement offinancial position as of December 31, 2020 to reflect properclassification of the transactions and balances with details asfollows:

Dilaporkansebelumnya/ Setelah

As previously Reklasifikasi/ reklasifikasi/reported Reclassification As reclasification

Pada awal tahun 2020, pandemi global Covid-19 telahmempengaruhi banyak negara termasuk Indonesia yangberdampak pada terjadinya perlambatan ekonomi. Sampai dengantanggal laporan keuangan, telah terjadi penurunan indeks yangsignifikan di Bursa Efek Indonesia yaitu Indeks Gabungan danserta penurunan nilai tukar mata uang Rupiah terhadap mata uangasing. Perusahaan menyadari masalah yang muncul dari kondisidan dampak negatif terhadap bisnis Perusahaan. Namun, dampakdi masa depan akan tergantung pada efektivitas kebijakan yangdikeluarkan oleh Pemerintah Indonesia, tindakan yang berada diluar kendali Perusahaan. Dampak spesifik terhadap bisnis danlaporan keuangan Perusahaan belum dapat ditentukan.

Early 2020, global pandemic of Covid-19 has affected manycountries including Indonesia which has an impact on economicslowdown. Up to this financial report date, there has been asignificant declining in Indonesian Stock Exchange. CompositeIndex and Rupiah foreign currencies exchange rates. TheCompany is aware of the challenges emerging from the conditionsand negative impacts to the Company's business. However,future impact will depend on the effectiveness of policy issued bythe Indonesian Government, actions which are beyond theCompany's control. The specific impact to the Company'sbusiness and financial statements cannot be determined yet.

106


44. PERISTIWA SETELAH PERIODE PELAPORAN 44. SUBSEQUENT EVENT PERIOD

Undang-Undang Cipta Kerja Job Creation Law

Pada tanggal 5 Oktober 2020, DPR menyetujui Undang-UndangCipta Kerja ("RUU Cipta Kerja") - yang biasa dikenal dengan"Undang-Undang Omnibus", yang kemudian ditandatanganiPresiden pada tanggal 2 November 2020. Undang-UndangOmnibus mengamendemen lebih dari 75 undang-undang, danmengharuskan pemerintah pusat untuk menerbitkan lebih dari 30peraturan pemerintah dan peraturan pelaksana lainnya yang harusdikeluarkan dalam waktu tiga bulan setelah diundangkan Undang-Undang Omnibus. Undang-Undang Omnibus berfokus padapeningkatan kemudahan berusaha di Indonesia (diantaranya,menyederhanakan proses perizinan, menyederhanakan prosespengadaan tanah, memformalkan zona ekonomi, memberikanlebih banyak insentif untuk zona perdagangan bebas, danmengubah undang-undang ketenagakerjaan).

On 5 October 2020, the Indonesian Parliament approved the JobCreation Law - commonly known as the "Omnibus Law", whichwas later signed by the President on 2 November 2020. TheOmnibus Law amended more than 75 current laws and willrequire the central government to issue more than 30 governmentregulations and other implementing regulations which must beissued within three months of its enactment. The Omnibus Lawfocuses on increasing the ease of doing business in Indonesia(e.g., simplifying licensing processes, simplifying land acquisitionprocesses, formalizing economic zones, providing more incentivesfor free trade zones and amending the labor law).

Pada tanggal 2 Februari 2021, Pemerintah Republik Indonesiatelah resmi mengeluarkan 45 Peraturan Pemerintah dan 4Peraturan Presiden sebagai peraturan pelaksana Undang-UndangNo. 11 Tahun 2020 tanggal 2 November 2020 tentang Cipta Kerja("UU Cipta Kerja").

On February 2, 2021, the Government of the Republic ofIndonesia has officially issued 45 Government Regulations and 4Presidential Regulations as implementing regulations for Law No.11 of 2020 dated November 2, 2020 concerning Job Creation("the Job Creation Law").

Pada saat penerbitan laporan keuangan ini, manajemen sedangmempelajari dampak yang mungkin timbul dari peraturanpelaksana UU Cipta Kerja ini terhadap bisnis dan operasionalPerusahaan, serta pengaruhnya terhadap laporan keuanganPerusahaan.

As at the authorization date of these financial statements,management is still evaluating the possible impact of theseimplementing regulation for the Job Creation Law to theCompany's business and operations, as well as the impact on theCompany's financial statements.

107

LAMPIRAN I ATTACHMENT I

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN POSISI KEUANGAN STATEMENTS OF FINANCIAL POSITIONENTITAS INDUK *) PARENT ENTITY *)Tanggal 31 Desember 2020 dan 2019 As of December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

ASET ASSETS

Kas dan bank Cash and bankPihak ketiga Third partiesPihak berelasi Related parties

Piutang premi Premium receivablesPihak ketiga Third partiesPihak berelasi Related parties

Piutang reasuransi Reinsurance receivablesPihak ketiga Third partiesPihak berelasi Related parties

Piutang lain-lain - bersih Other receivables - net

Investasi InvestmentsDeposito berjangka Time deposits


Efek Marketable securitiesPihak ketiga Third partiesPihak berelasi Related parties

Penyertaan saham Direct investmentsProperti investasi Investment properties

Jumlah investasi Total investments

Biaya dibayar di muka dan uang muka Prepaid expenses and advancesAset reasuransi Reinsurance assetsAset-hak-guna - bersih Right-of-use assets - netAset tetap - setelah dikurangi Fixed assets-net

akumulasi penyusutan tahun of accumulated depreciation 2020 dan 2019 masing-masing of Rp 51,204,694,719 andsebesar Rp 51.204.694.719 dan of Rp 45,202,646,117 andRp 45.202.646.117 for 2020 and 2019, respectively

Aset tak berwujud - setelah dikurangi Intangible assets-netakumulasi amortisasi tahun of accumulated amortization2020 dan 2019 masing-masing of Rp 7,231,967,538 andsebesar Rp 7.231.967.538 dan of Rp 6,417,042,157 andRp 6.417.042.157 for 2020 and 2019, respectively

Aset imbalan pasti neto Net defined benefit assetAset pajak tangguhan Deferred tax assetsAset lain-lain Other assets

JUMLAH ASET TOTAL ASSETS

*) Menggunakan metode biaya Using cost method *)

**) Direklasifikasi, lihat catatan 42 Reclassified, see note 42 **)

3.880.122.619 -

25.063.174.514 33.049.274.625

51.543.850.010 49.580.913.897

3.883.320.059 11.836.638.231

3.086.976.639 15.319.533.759 861.218.936.415 741.935.261.027

3.519.531.026 -

20.969.609.038 29.767.285.204

4.410.501.000 10.730.707.000

434.641.061.839 322.191.001.318

21.618.137.051 12.376.727.082

214.563.804.617 115.532.702.417

4.093.565.476 3.281.989.421

121.031.300.000 117.750.000.000 201.165.503.611 181.165.504.611

1.401.594.609.154 1.238.128.651.790

454.264.726.012 366.707.260.266 406.158.773.914 446.242.477.496

18.980.351.975 8.291.205.788

325.448.149.663 218.202.786.761 109.192.912.176 103.988.214.557

1.786.460.713 278.665.746

2020 2019**)

17.193.891.262 8.012.540.042

2.181.530.137 1.964.746.339

2.832.886.247.380 2.436.404.541.250

1.674.645.942 1.730.587.394

LAMPIRAN I ATTACHMENT I

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN POSISI KEUANGAN (Lanjutan) STATEMENTS OF FINANCIAL POSITION (Continued)ENTITAS INDUK *) PARENT ENTITY *)Tanggal 31 Desember 2020 dan 2019 As of December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS LIABILITIES

Utang klaim Claim payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang reasuransi Reinsurance payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang komisi Commission payablesPihak ketiga Third partiesPihak berelasi Related parties

Utang pajak Taxes payableUang muka premi jangka panjang Deferred premium incomeLiabilitas kontrak asuransi Insurance contract liabilitiesLiabilitas imbalan kerja Employee benefits liability

Liabilitas imbalan kerja jangka pendek Short term employee benefitsLiabilitas imbalan pasca kerja Post employment benefits liabilities


JUMLAH LIABILITAS TOTAL LIABILITIES

EKUITAS EQUITY

Modal saham Share capitaldengan nilai nominal Rp 500 with par value of Rp 500 per share per saham. Authorized capital - Modal dasar - 350.000.000 saham 350,000,000 shares Modal ditempatkan dan Issued and fully paid - disetor penuh - 150.000.000 saham 150,000,000 shares

Tambahan modal disetor Additional paid in capitalCadangan perubahan nilai Reserves for changes of fair

wajar aset keuangan tersedia value of available-for-saleuntuk dijual - setelah pajak financial assets - net tax

Saldo laba Retained earningsCadangan umum General reservesBelum ditentukan penggunaannya Unappropriated

JUMLAH EKUITAS TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS TOTAL LIABILITIES AND EQUITY


**) Direklasifikasi, lihat catatan 42 Reclassified, see note 42 **)

149.880.494.434 95.626.862.931 4.195.970.180 8.943.150.242

16.038.564.765 9.775.999.626

2.832.886.247.380 2.436.404.541.250

778.213.815.308 690.801.711.611

958.623.172.191 926.650.360.821

19.000.000.000 18.000.000.000

(16.315.576.522) 40.123.715.805

75.000.000.000 75.000.000.000 102.724.933.405 102.724.933.405

10.000.000.000 8.374.651.465

1.874.263.075.189 1.509.754.180.429

164.991.785.427 48.967.691.175

17.485.000.000 -

1.508.025.588.499 1.313.179.137.763

154.076.464.614 104.570.013.173

9.644.713.574 8.310.501.628

838.328.322 1.378.325.534 281.216.273 2.009.666.475

1.119.544.595 3.387.992.009

37.661.561 16.013.114.774 9.738.338.065

2.881.413.715 3.188.193.590

2020 2019**)

25.449.991

LAMPIRAN II ATTACHMENT II

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN LABA RUGI DAN STATEMENTS OF PROFIT OR LOSS ANDPENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOMEENTITAS INDUK *) PARENT ENTITY *)Untuk tahun-tahun yang berakhir pada tanggal For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

PENDAPATAN REVENUESPendapatan underwriting Underwriting revenue

Premi bruto Gross premiumsPihak ketiga Third partiesPihak berelasi Related parties

Premi reasuransi Reinsurance premiumsPihak ketiga Third partiesPihak berelasi Related parties

Perubahan bersih liabilitas premi Net change in premium liabilities

Jumlah pendapatan premi neto Total net premium income

Hasil investasi Investment incomePenghasilan/(beban) lain-lain - bersih Other income/(expenses) - net

JUMLAH PENDAPATAN TOTAL REVENUES

BEBAN EXPENSESKlaim-bruto Gross claims


Klaim reasuransi Reinsurance claimsPihak ketiga Third partiesPihak berelasi Related parties

Perubahan bersih estimasi Net change in estimatedliabilitas klaim claims liabilities

Jumlah beban klaim neto Total net claim expenses

Beban komisi-bersih Commission expenses – netBeban underwriting lainnya Other underwriting expensesBeban usaha Operating expenses

JUMLAH BEBAN TOTAL EXPENSES

LABA SEBELUM PAJAK PENGHASILAN INCOME BEFORE TAX

Beban pajak Tax expense



35.721.793.770 84.380.384.563

930.434.512.150 1.038.190.195.341

1.199.731.929.509 1.140.051.025.866

894.712.718.380 953.809.810.778

(5.829.037.511)

(467.471.528.805) (381.125.898.541)

(37.298.287.134) 16.995.301.003

1.139.448.039.204 1.071.795.021.014

(462.984.768.216)

191.873.169.835 172.622.845.319

1.061.058.248.593 1.040.573.340.298

138.673.680.916 99.477.685.568

(19.513.079.935) (7.941.576.981)

119.160.600.981 91.536.108.587

59.072.408.090 72.559.343.522 118.483.345.506 5.326.115.191

(274.853.366.732) (236.905.912.264)

(277.069.675.201) (239.943.763.417)

38.264.488.213 (8.181.395.658)

(2.216.308.469) (3.037.851.153)

691.629.325.162 790.065.036.266

(365.648.410.658) (4.486.760.589) (15.477.487.883)

59.579.209.504 74.085.042.363 704.680.801

146.813.089.507 214.877.581.056

1.644.217.855.143 1.435.925.618.552

1.497.404.765.636 1.221.048.037.496

2020 2019

LAMPIRAN II ATTACHMENT II

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN LABA RUGI DAN STATEMENTS OF PROFIT OR LOSS ANDPENGHASILAN KOMPREHENSIF LAIN (Lanjutan) OTHER COMPREHENSIVE INCOME (Continued)ENTITAS INDUK *) PARENT ENTITY *)Untuk tahun-tahun yang berakhir pada tanggal For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)


PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVELAIN INCOME

Pos yang tidak akan direklasifikasi Items that will not be reclassifiedke laba rugi to profit or loss

Pengukuran kembali liabilitas Remeasurements of postimbalan kerja employment benefit

Beban pajak terkait Related tax income

Pos yang akan direklasifikasi Items that will be reclassifiedke laba rugi to profit or loss

Aset keuangan tersedia untuk dijual Available-for-sale financial assetsBeban pajak terkait Related tax income

Jumlah rugi komprehensif Total other comprehensive losslain tahun berjalan for the years

JUMLAH LABA KOMPREHENSIF TOTAL COMPREHENSIVE GAINTAHUN BERJALAN FOR THE YEAR

LABA BERSIH PER SAHAM - EARNINGS PER SHARE -dalam Rupiah penuh in full Rupiah


(54.974.219.399) (64.532.681.033)

(56.439.292.327) (62.975.954.356)

44.686.711

64.186.381.582 27.003.427.554

794 610

1.465.072.928 (1.556.726.677)

(56.479.376.033) (63.020.641.067) 40.083.706

119.160.600.981 91.536.108.587

2.216.448.610 (2.075.635.569) (751.375.682) 518.908.892

2020 2019

LAMPIRAN III ATTACHMENT III

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN PERUBAHAN EKUITAS STATEMENTS OF CHANGES IN EQUITYENTITAS INDUK *) PARENT ENTITY *)Untuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

Cadangan perubahan nilai

wajar aset keuangan tersedia Belum

Tambahan untuk dijual/ DitentukanModal Modal Disetor/ Reserves for changes Cadangan Penggunaannya/

Saham/ Additional of fair value of Umum/ UnappropriatedShare Paid - in available-for-sale General Retained Jumlah Ekuitas/Capital Capital financial assets Reserves Earnings Total Equity


- - (63.020.641.067) - - (63.020.641.067) Efek pajak terkait - - 44.686.711 - - 44.686.711 Related tax effectPenilaian kembali imbalan kerja - - - - (2.075.635.569) (2.075.635.569) Remeasurement employee benefitsEfek pajak terkait - - - - 518.908.892 518.908.892 Related tax effectDana cadangan umum - - - 1.000.000.000 (1.000.000.000) - Appropriated for general reservesDividen kas - - - - (48.750.000.000) (48.750.000.000) Laba bersih untuk tahun berjalan - - - - 91.536.108.587 91.536.108.587


Dampak penerapan awal standar Impact of initial application of newakuntansi baru PSAK 73 - - - - (113.570.212) (113.570.212) accounting standards PSAK 73

Saldo per 1 Januari 2020 75.000.000.000 102.724.933.405 40.123.715.805 18.000.000.000 690.688.141.399 926.536.790.609 Balance as of January 1, 2020

- - (56.479.376.033) - - (56.479.376.033) Efek pajak terkait - - 40.083.706 - - 40.083.706 Related tax effectPenilaian kembali imbalan kerja - - - - 2.216.448.610 2.216.448.610 Remeasurement employee benefitsEfek pajak terkait - - - - (751.375.682) (751.375.682) Related tax effectDana cadangan umum - - - 1.000.000.000 (1.000.000.000) - Appropriated for general reservesDividen kas - - - - (32.100.000.000) (32.100.000.000) Laba bersih untuk tahun berjalan - - - - 119.160.600.981 119.160.600.981



Retained EarningsSaldo laba/


Aset keuangan tersedia untuk dijual Available-for-sale financial assets


Aset keuangan tersedia untuk dijual Available-for-sale financial assets

LAMPIRAN IV ATTACHMENT IV

PT LIPPO GENERAL INSURANCE Tbk PT LIPPO GENERAL INSURANCE TbkLAPORAN ARUS KAS STATEMENTS OF CASH FLOWSENTITAS INDUK *) PARENT ENTITY *)Untuk tahun-tahun yang berakhir For the years ended31 Desember 2020 dan 2019 December 31, 2020 and 2019(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)

Arus kas dari aktivitas operasi Cash flows from operating activities

Penerimaan premi Premium income receivedPenerimaan klaim reasuransi Reinsurance claims receivedPembayaran klaim Claims paidPembayaran komisi-bersih Commissions paid-netPembayaran premi reasuransi Reinsurance premiums paidPembayaran beban usaha Operating expenses paidPembayaran lain-lain - bersih Other payments - netPembayaran pajak Taxes paid

Kas bersih diperoleh Net cash provided bydari aktivitas operasi operating activities

Arus kas dari aktivitas investasi Cash flows from investing activities

Hasil penjualan dan Proceeds from sale and redemptionpencairan investasi of investments

Penerimaan bunga Interest income receivedPenerimaan dividen Dividend income receivedPenerimaan reksadana Mutual fund income receivedPenerimaan sewa Rent receivedPenempatan investasi Placement of investmentsPerolehan aset tetap Acquisition of fixed assetsHasil penjualan aset tetap Proceed from sales of fixed assetsPembelian piranti lunak komputer Acquisition of computer software

Kas bersih diperoleh dari/(digunakan Net cash provided by/(used in)untuk) aktivitas investasi investing activities

Arus kas dari aktivitas pendanaan Cash flows from financing activities

Pembayaran dividen Dividends paidPenambahan modal di entitas anak Capital subscription to subsidiaryPembayaran kembali atas

liabilitas sewa Repayments of lease liabilities

Kas bersih digunakan untuk Net cash used inaktivitas pendanaan financing activities

Dampak perubahan nilai kurs pada Effect of exchange rate changes inkas dan bank cash on hand and in banks

Kenaikan/(penurunan) bersih Net increase/(decrease) inkas dan bank cash on hand and in banks

Kas dan bank pada awal Cash on hand and in banks attahun the beginning of the year

Cash on hand and in banksKas dan bank pada akhir tahun at the end of the year


(3.502.518.309)

8.291.205.788 11.793.724.097

(10.054.810.989) (16.195.067.384)

213.895.679.299 15.768.207.389

1.451.696.616.771 952.420.261.878 5.434.926.810

125.942.944 57.543.580

447.172.185 579.307.008

14.533.035.005

21.137.399.692 19.448.597.483

(1.701.941.412) -

(18.178.867.989) (14.145.329.669)

(417.965.077.755) (369.620.765.723)

(1.623.493.387.109) (924.169.669.790)

(76.701.357.988) (148.800.411.544) (103.377.513.582) (3.234.508.975)

(924.171.947.011) (1.037.220.658.062) (62.226.346.827) (70.886.882.081)

285.055.775.704 227.938.180.218

2020 2019

1.531.461.014.747 1.431.738.583.225

18.980.351.975 8.291.205.788

(19.999.999.000) (10.000.000.000)

665.000.001 1.282.178.952

(32.084.592.000) (48.726.600.000)

(53.786.532.412) (58.726.600.000)

(149.474.433.032) 39.574.100.420

(2.842.599.323) (972.780.326)

54.432.332 (118.226.118)

10.689.146.187

Kantor Pusat (Head Office)Lippo Kuningan Building Lt. 27 Unit A&FJl. HR Rasuna Said Kav. B -12Jakarta Selatan, 12940, IndonesiaPhone : (021) 525 6161Fax : (021) 525 7161

Kantor Operasional (Operational Office)Karawaci Office Park Blok I No. 30 - 35Lippo Village, Tangerang, 15139, IndonesiaPhone : (021) 5579 0672Fax : (021) 5579 0682

meraih momentum · 2021. 6. 22. · pt lippo general insurance tbk (hereinafter referred to as...

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