Monday, March 5, 2012

Insurance Company: Sinarmas-Company Profile

Here is a company profile of one of ten best insurance companies in Indonesia, Sinarmas.

Sinarmas MSIG Insurance (d / h Sinarmas Life Insurance) began operations on 14 April 1985 with the name of PT. Purnamala Insurance International Indonesia (PII). In 1989, a joint venture with the Ayala Group of the Philippines and at the end of 2005, Ekalife finally became fully owned by Sinar Mas. In early 2007, PT Eka Life Insurance changes its name to PT Sinarmas Life Insurance (also called Sinarmas MSIG Life). To reinforce the vision of being the leading company in the Provider Services Planning and Financial Protection in Asia, on May 2, 2011, Sinarmas MSIG Life back a joint venture with Mitsui Sumitomo Insurance Co., Ltd. which is the company's No. 2 Best General Insurer in Japan and Asia Pacific. With the merger of Mitsui Sumitomo Insurance Co., Ltd., PT Sinarmas Life Insurance changes its name to PT. Sinarmas MSIG Insurance (also called Sinarmas MSIG Life).

It is characterized by Actual Ownership Change Life Insurance PT Sinarmas as stipulated in the approval letter No. S-876/MK. 10/2011 of the Ministry of Finance of the Republic of Indonesia on August 4, 2011. This process has been previously approved by the Department of Justice and Human Rights Republic of Indonesia in a letter dated AHU-32784.AH.01.02.Tahun 2011 July 1, 2011.

Growth Sinarmas MSIG Life shows a very significant development can be seen from the Premium Income increasing from year to year. By the end of 2010, listed total assets Sinarmas MSIG Life reached 11.4 trillion, and total premiums increased by approximately 31% over the previous year. The performance carefully and cautiously, achieving solvency ratio reached Sinarmas MSIG Life end of 2010 using the Risk Based Capital (RBC) is 469.03%.

Sinarmas MSIG Life under the Financial Services division of Sinar Mas, one of the pillars of the business of Sinar Mas, which is engaged in financial services, in addition to overseeing Sinarmas MSIG Life also oversees the Bank Sinarmas, Sinar Mas Insurance, Securities and Sinarmas Multifinance Sinarmas.

The business units Sinar Mas are:
  • Sinar Mas Agribusiness and Food (PT SMART Tbk.)
  • Sinar Mas Pulp and Paper Products (PT Indah Kiat Pulp & Paper Tbk., Kima Tjiwi PT Paper Mill Limited., PT Lontar Papyrus Pulp & Paper Tbk., PT Pindo Deli Pulp And Paper Mills)
  • Land Sinarmas (PT Duta Pertiwi Tbk., PT BSD)
  • Smartfren Telecom Tbk PT. for telecommunications

Since the date of January 17, 2005 Sinarmas MSIG Life has Sharia which provide insurance services according to Islamic principles and is fully supported by the Company.

Developments Sinarmas MSIG Life is supported by the excellent coordination of finance, and ownership is also supported by an extensive business network is realized with more than 59 sales offices, spread over 39 cities throughout Indonesia. Sinarmas MSIG Life ready menyedikan best service for your financial needs and your company.