Friday, February 18, 2011

Insurance Company: Jasindo-A Brief History

This is another review of insurance company in Indonesia, PT Asuransi Jasindo. The stand of Jasindo is Jasa Indonesia.

The establishment of PT Indonesia Insurance Services (Limited) is an important part of the history of the nation and the homeland of Indonesia. This history began in 1845 when the implementation of the nationalization of Assurantie Maatschappij NV de Nederlander, an insurance company owned by the Dutch General, and Vander Bloom, UK General Insurance company based in Jakarta.

Proclamation of the Republic of Indonesia declared independence on August 17, 1945 by Proclaimer of Indonesia, Ir. Sukarno and Mohammad Hatta, as well as to the implementation of the mandated transfer of power and ownership of the Kingdom of the Netherlands to the Government of Indonesia. Including, to the nationalization of the two companies and changed the name to both a PT Insurance Bendasraya engaged in general insurance in the amount and General PT International Underwriters (uIU) which operates in the field of General Insurance in foreign currencies.

The second follow-up results of the nationalization of the company aims to provide maximum benefit to the community and strengthen its security and economy of the country. The nationalization policy was implemented under the umbrella of law Act No. 86 of 1958 on the nationalization of Dutch Companies that are within the territory of the Republic of Indonesia.

After the implementation of the policy of nationalization and the natives then came an initiative to optimize the functions and roles of the two national companies in the face of challenge and fill in the era of independence of the Republic of Indonesia.

In a historic journey, through the Minister of Finance No.764/MK/IV/12/1972 dated December 9, 1972, the Indonesian government decided to conduct a merger between PT and PT Bendasraya General Insurance International Underwriters (uIU) to PT Indonesia Insurance Services (Limited) as a State Owned Enterprises (SOEs) which is engaged in General Insurance business. Ratification of the merger is further confirmed by Mohamad Ali Deed No. 1 dated June 2, 1973.

As one state that has a brilliant business performance in Indonesia, all the shares of PT Indonesia Insurance Services (Limited) owned by the Republic of Indonesia. Moreover, the passage of time has proved that PT Asuransi Jasa Indonesia (Persero) or known by the Insurance Jasindo, does have the experience of a qualified, long and mature in the field of General Insurance and even since the colonial era. This experience gives the value of its own initiative for the existence and growth of insurance Jasindo performance to date, so successful in gaining public confidence both at home and abroad.

In presenting a professional service and the best, Insurance Jasindo always uphold the values ​​instilled a corporate culture that is Hone, Mercy and Foster. In addition, the Insurance Services Indonesia is also committed to providing excellent service to meet the satisfaction of the insured. Jasindo insurance also receives support from the leading reinsurers around the world, such as Swiss Re and Partner Re, the reinsurance providing back-up, especially the coverage that is mega-risk.

In resolving the claims of, commitment to accuracy and speed Jasindo Insurance can not be doubted. This is evidenced by the settlement of the claims even to be worth trillions of dollars. Call it for example, claims Apogee Kick Motor Palapa B2 of U.S. $ 75 million, BDC Failure Palapa C2 worth U.S. $ 31.2 million, Battery Charging Failure Palapa C2 Satellite amounting to U.S. $ 36.5 million, and the Loss of DB Garuda Satellite belongs Aces International to U.S. $ 101.5 million.

Insurance experience and ability to invite Jasindo admiration, it has been also recognized by the international rating agency, Standard and Poor's to category "Claims Paying Ability" in 1997 with a rating of BBB. Furthermore, in 2009, Insurance Jasindo again gained recognition as the only company General Insurance national who obtained ratings from rating agency International AM Best, based in Hong Kong and the United States, for the category "Financial Strength Ability" (Stable Outlook) with a rating of B + + Issuer Credit and Ability (Stable Outlook) with a rating of BBB.

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