f/a simas ar03 - Asuransi Simasnet

Transcription

Annual Repor t
2003
New Spirit Brings about Great Improvement
Cover Story
A horse is commonly
characterised as strong, freespirited and full of energy. They are
known to live in hordes (group)
and in open space fields. In many
cultures, horses are viewed to bring
luck and prosperity.
Asuransi Sinar Mas’ performance
throughout 2003 is seen as a
turning point for the better, thanks
to its new management team.
Their new ideas and strategies for
the Company have greatly
influenced ASM’s success in
rebuilding its internal structure and
developing concrete objectives that
eventually creates trust for the
stakeholders.
Contents
1A New Dawn 2 Vision & Mission 3 Asuransi Sinar Mas in Brief 4 Performance in 2003 6 Risk Base Capital
7 Good Corporate Governance 8 Chairman’s Statement 10 Director’s Foreword 13 Empowering People
14 Expanding Network 16 Testimonial 18 Auditors’ Report 30 Products 31 Branch and Representative Offices
Asuransi Sinar Mas:
A New Dawn
Asuransi Sinar Mas’ headquarter
located at Jl. Fachrudin No. 18,
Central Jakarta.
The foundation
1
progressive future development
has been laid down in 2003, thanks to
its new management team and
their new ideas and strategies.
Annual Report Asuransi Simas Mobil
for Asuransi Sinar Mas’
Vision
To become the most
respected and professional
insurance providers in the
region by providing
superior value to our
customers, reinsurers,
shareholders, and
employees.
2
Mission
• Know the customers and satisfy their needs
• Profitable net and gross underwriting
• Explore talent, increase productivity, and efficiency of the staff
Asuransi Sinar Mas in Brief
The frontliners are
ASM’s first point of
encounter between
the Company and
prospective
customers.
The Company was established in
and reinsurance companies either
insurance company, while other
1985 in Jakarta under the name of
directly or dealing through
insurance companies were still
PT Asuransi Kerugian Sinar Mas
reputable international reinsurance
confused in making decisions to pay
Dipta. In 1991, the Company’s
brokers.The client’s database of the
the claims.
name was changed to PT Asuransi
Company includes both national
Sinar Mas. Nowadays, the Company
and multinational corporations, as
The Company’s gross written
is also well known by the name of
well as individuals. Some of them
premium and total assets have
Asuransi Simas Mobil.
liaise with professional insurance
consistently increased from year to
brokers and dedicated agents.
year. Our solvability ratio is more
3
variety of general insurance
After a long journey, PT Asuransi
level required by the law. The
products. In addition, it has many
Sinar Mas has proven its success.
success we have nowadays is
branches and representative offices
We are now one of the top five
accomplished by our solid team
in Indonesia to suppor t its
insurance companies in Indonesia.
work and full support from our
businesses.
We have a commitment to satisfy
business partners.Valuable support
our customers by giving quick
coming from shareholders and
In providing the protection for its
responses. For instance, when
clients took a role in the Company’s
clients, the Company is backed up
catastrophic claims occurred, we
success as well.
by first class international insurers
were the first and the fastest
than the minimum limit of solvability
The Company provides a wide
Performance in 2003
Performance Highlights
Description
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2003
(Rp)
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2002
(Rp)
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Increase/
Decrease
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Gross Written Premium
685,962,074,702
641,710,781,042
6.90%
Gross Claim Paid
179,101,238,475
245,722,514,457
-27.11%
Underwriting Result
85,740,558,160
80,579,928,508
6.40%
Profit Before Tax
60,940,589,808
35,828,407,211
70.09%
Profit After Tax
52,801,229,284
31,414,673,272
68.08%
Total Assets
483,848,140,142
446,840,394,166
8.28%
Net Worth
252,233,770,238
199,410,179,766
26.49%
Technical Reserves
130,649,874,673
120,773,687,467
8.18%
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Gross Premium income, for all lines of business,
and miscellaneous business recorded positive
amounted to Rp 686.0 billion in 2003, an
growth. As for the portfolio mix, Motor vehicle
increase of 6.9% compared to previous year’s
gross premium take the biggest por tion
figure. Motor vehicle, engineering, medicare
(32.10%).
Gross Premium Composition
3.05%
Miscellaneous
41.64 %
Fire
16.30%
Medicare
1.00%
Engineering
0.60%
Marine Hull
5.31%
Marine Cargo
32.10%
Motor Vehicle
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Gross Premium
Class
Gross Premium (Billion Rp)
2003
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Increase
2002
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Fire
285,63
282,29
1.18%
Motor Vehicle
220,17
165,31
33.19%
6,85
6,28
9.08%
Engineering
Medicare
Miscellaneous
111,79
79,13
41.27%
20,97
12,92
62.30%
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Conversely, the gross claims paid to the
The solvability ratio in 2003 was 213%.
customers were down 27.11% to Rp 179.1
There was a surplus of solvency margin of
billion then in 2002. From this amount, the
Rp 102.7 billion than required by the decree of
reinsurer’s share was Rp 41.9 billion. Engineering,
Rp 90.6 billion. It was computed by using Risk
medicare, and miscellaneous gross claim
Based Capital method. Our admitted
showed an increase then in 2002.The significant
assets in 2003 was Rp 425.9 billion whereas
gross claim increase came from marine hull
our liability was Rp 232.6 billion.
business. It posted an increase of 311.5% to
Rp 4.4 billion followed by miscellaneous gross
Total assets of the Company as at the end of
claim. Fire, recorded a decrease.
2003 was Rp 483.8 billion.There was an increase
growth had been the result of the increase in
Net Income (in billion Rp)
premium receivable.
52.80
50.80
46.72
48.29
Technical reserves increased from Rp 120.7
billion in 2002 to Rp 130.6 billion in 2003.
Hence, there is an increase of 8.18%. This
increase had been the result of growth in
31.41
99
00
01
02
written premium.
03
Net Income for the year 2003 totaled
Rp 52.8 billion after deducting corporate
income tax. It indicated a marked improvement
of 68.08% over the previous year.
of 8.28% compared to the year 2002. This
5
Risk Base Capital
DESCRIPTION
2003
2002
In million Rupiah, except stated otherwise
Solvency Margin
Based on Risk Base Capital Method
A. Solvency Margin
a. Total Admitted Assets
b. Total Liabilities
c. Solvency Margin
B. Minimum Solvency Margin Requirement *)
C. Surplus (Deficit) Solvency Margin
D. Achievement Ratio (%) **)
425,939
232,587
193,352
428,572
248,163
180,409
90,607
73,202
102,745
107,207
213
246
3,400
3,400
215
248
92
112
11,869
17,407
152
149
144
129
Other Informations
A. Total Compulsory Time Deposits
6
B. Investment to Technical Reserve and
Claims Payable Ratio (%)
C. Own Retention Premium to Net
Worth Ratio (%)
D. Direct to Indirect Premium Ratio (%)
E. Liquidity Ratio (%)
F.
Total Expenses (Claims, Operational, and
Commission) to Net Premium Earned Ratio (%)
Explanations:
*)
Minimum Solvency Margin Requirement is the amount needed to cover the risk of loss which is possible to
happen as a result of the deviation of asset-liability management.
**)
In accordance with the chapter 43 verse 2 in the letter of the Minister of Finance No. 424/KMK.06/2003 regarding
the financial soundness of insurance and reinsurance companies, the ratio of minimum requirement of solvency
margin is at least 100% at the end of 2003.
Good Corporate Governance
For the last two years, the management of
trainings, the evaluation of employee’s performance for both
PT Asuransi Sinar Mas has been working on the
front office and back office, which are solely based on high
implementation of Good Corporate Governance.
achievement. All of which are measured by the so-called
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Key Performance Indicator.
openly on a regular basis. In addition, the management has
assigned an independent commissioner to supervise the
operations of the Company independently.
In terms of human resources, Asuransi Sinar Mas has been
developing many things, such as the selective process of
recruitment, the improvement of quality and quantity of
The Company so far has announced its financial reports
Chairman’s Statement
Doddy Susanto
Commissioner
Ivena Widjaja
President Commissioner
8
Ir. Gandi Sulistiyanto S.
Commissioner
First of all, I give my best thank to the Lord
From a political perspective, in the year 2003, the political
since I am trusted to be the President
situation was also under control of the Government. Even
Commissioner of PT Asuransi Sinar Mas as of
the bomb explosion at J.W. Marriot hotel did not shake
January 26, 2004. In addition, on behalf of the
this country at all. One of the signals was the stock market
Board of Commissioners, I am honored to put
which only dropped on the day of the explosion, yet the
the Annual Repor t and Accounts of the
day after, it rose back even higher. The exchange rate, as
Company for the year ended December 31,
another signal, slightly went down but returned to the
2003 on view.
rate which was on the day before the incident several
days later.
Looking at the previous reports, I am amazed with this
Company for it has been running well for years, even in
Both the improving economic condition and the political
unfavorable conditions hitting this country since 1998.
stability, I believe, had supported the Company to attain
Right now, the economic condition of Indonesia is getting
higher achievement. However, the real key to the success
better and better. The economic growth of 2003 was
of the Company in 2003 was the changes made by the
4.1%, higher than that of 2002, which was only 3.7%.
new management who implemented new strategies to
Inflation rate has decreased to 5.06% from 10.03% in
penetrate new markets as well as to develop the existing
2002. Our Rupiah currency was getting stronger against
ones.
the U.S. Dollar. In addition to that, the Jakarta Stock
Index dramatically rose from 407,177 to 691,891.
Kokarjadi Chandra
Commissioner
Hotbonar Sinaga
Independent Commissioner
Henry C. Suryanaga
Commissioner
The strategies implemented by the new management
Rp 179 billion. In terms of solvability, which is measured
which consists of energetic, young professionals were: (i)
and known as Risk Based Capital (RBC), for the year 2003
to strengthen the sales force by recruiting and training
the required level by the law was 100%, whereas, the
highly prospective young people, (ii) to open new
Company’s level was 213%.
representative offices in major cities all over the country,
Lastly, I believe with the new spirit that is in the new
car dealers by using B to B (Business to Business)
management, the Company will be able to keep going up
technology, (iv) to expand retail business through agency,
to get more improvements for the sake of all the
(v) to develop the call center for both inbound and
stakeholders. In addition, I would like to congratulate the
outbound calls, and (vi) to increase the image of our
new management and their staffs on the improvements
company name as well as our products by intensifying
they have achieved, and believe they will keep performing
promotion through newspapers and billboards.
in the future.
As a result, we can see that the profit grew remarkably by
71%, from Rp 31 billion in 2002 to Rp 57 billion in 2003
and gross premium also increased from Rp 642 billion in
2002 to Rp 686 billion in 2003. On the contrar y,
gross claim paid went down by 27% to the amount of
Ivena Widjaja
President Commissioner
9
(iii) to collaborate with more finance companies, banks,
Director’s Foreword
10
The new management in 2003 consists of young
Indra Widjaja
President Director
professionals who are energetic and innovative in
creating the Company’s value.
One of the main
focus in 2003 was
upgrading the
Company’s human
resources.
We would like to say thank you firstly to the Lord,
finance companies. For the last one, we especially formed
and to the Board of Commissioners, as well as to
a joint-cooperation in Motor Vehicles Insurance by using
all staffs of PT Asuransi Sinar Mas for what they
B to B (Business to Business) technology.
have contributed to the Company during the year
2003.
In terms of human resources readiness to support the
expansion, we recruited new potentially young people and
For the sake of the stakeholders, in the year 2003, the
sent them into our training programs related to their talent,
structure of the top management of the Company was
which are Super visor Development Program for
changed. The new formation of the top management
Marketing, Career Development Program for back office,
afterward consists of young professionals who are
and Management Development Program for new leaders.
energetic and innovative in creating the Company’s value.
We had made intensive promotions as well, such as
implemented several new policies to improve the
advertising on newspapers and billboards. To make the
Company’s performance. Basically, the policies were to
plan comprehensive, we had improved the quality of our
seize new markets, to improve the existing ones, as well
service to our customers. In the near future, our customers
as to increase the quality of customer service.
will be able to know the status of the process of their
claims or to get any other information of their policies by
To expand the market, we opened new marketing offices
looking through the Company’s website. In addition, we
in potential cities all over the country, which were Jayapura,
upgraded the call center for both inbound and outbound
Bengkulu, Depok, Pekalongan, Magelang, Tegal, Cilacap,
calls.
Sampit, Kediri, Mojokerto, Mataram, Krawang, and Cilegon.
In the year 2004, we will open another 20 offices. Besides
For the year 2004, we will keep professionally working on
that, we have also collaborated with almost all state-owned
improving what we have achieved in 2003 for the benefit
banks, top ten private-owned banks as well as several
of all of us.
Indra Widjaja
President Director
11
Without waiting any longer, the new team right away
I Ketut P. Swastika
Director
Dumasi M.M. Samosir
Director
12
The new management of Asuransi Sinar Mas.
Marten P. Lalamentik
Director
Aryanto Alimin
Director
Njoman Sudartha
Director
Empowering People
Skilled
employees are
key factor in
determining
the Company’s
future.
Another in-house training that has been conducted is the
manpower. Only by having highly qualified people
AAAIK tutorial. Asuransi Sinar Mas requires its employees
would a company be able to perform well, year
to be competent in insurance business. A tutorial class is
after year. PT Asuransi Sinar Mas realizes this
held approximately one month before AAAIK examination
matter. Therefore, the Company has been
in order to prepare employee’s to be more encouraged
recruiting competent graduates frequently.
to join the AAAIK and AAIK examination.
To provide them with adequate skills, the Company sent
With qualified employees, Asuransi Sinas Mas provides the
them on trainings. Currently, there are several training
best service to its clients and is ready to face the future.
programs available: Management Development Program
(MDP), Supervisor Development Program (SDP), and
Career Development Program (CDP). The first two
programs are for marketing, and the last one is for back
office need.
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One of the key success factors of a company is
Expanding Network
The opening
of Cilegon
branch office.
Realizing that future competition in the insurance
Collaboration with more state-owned banks, top ten private-
industry will be tougher and tougher, especially
owned banks and finance companies is another kind of
in the retail market, the management of
company expansion. In this relationship, Asuransi Sinar Mas
PT Asuransi Sinar Mas, therefore, would like to
becomes an insurance provider for the clients of those
do business expansions intensively.
financial institutions. In the case of cooperation with finance
companies, especially for Motor Vehicles Insurance, Asuransi
14
In the year 2003, Asuransi Sinar Mas started the expansion
Sinar Mas will use B to B (Business to Business) technology.
by opening new offices in several cities scattered all over
the country, such as: Jayapura, Bengkulu, Depok, Pekalongan,
To penetrate the retail market, in the year 2003, Asuransi
Magelang,Tegal, Cilacap, Sampit, Kediri, Mojokerto, Mataram,
Sinar Mas began to recruit new agents intensively from inside
Krawang, and Cilegon. For the year 2004, the Company is
or outside Jakarta, and train them afterward.To motivate the
going to open another 20 new offices.
agents, the Company conducted a contest and the winner
was awarded with a prize. As a result of this policy, the number
With these new offices, Asuransi Sinar Mas will be able to
of agents increased by 96.3%, from originaly 325 persons in
serve its customers faster and better.
March 2003 to 638 persons in March 2004 and total gross
written premium for the first three months of 2004 went up
73,4%, compared to that of 2003.
Yogyakarta
Bandung
15
Makassar
Medan
Testimonial
11
April 2004
From left to right: Andy Dharmadji (Manager of Oto
Multiartha), Aryanto Alimin (Director of Asuransi Sinar
Mas),Tonny Latidjan (General Manager of Asuransi Sinar
Mas), Lionel D. Pantow (Director of Sun Motor), Nugroho
Tjandrakusuma (Director of Sun Motor).
03
February 2004
From left to right: Laurence Kusuma (Director of Bank
Danpac), Hermanus H. Muslim (President Director of
Bank Danpac), Indra Widjaja (President Director of
Asuransi Sinar Mas), and Aryanto Alimin (Director of
Asuransi Sinar Mas).
10
June 2004
From left to right: Novi Andriati (Deputy Branch Mgr
Semarang), Widodo Septiadi (Division Head of Health
& Personal Lines), Chandra Setiawan (Regional Head
III), Stefanus Sudjoko (Finance & Acc. Mgr of PT CFI),
Rina Roosana (HRD & GA Mgr of PT CFI), Dumasi M
M Samosir (Director of ASM), Helen Aliwarga (Deputy
Branch Mgr of SPD), and Feri Rudiaman (Branch Mgr
of ASM Semarang).
Claim payment at Simas Mobil
Signing of joint agreement
Simas Medicare Seminar in
Claim & Service Center
between Asuransi Sinar Mas &
Semarang
Bank Danpac
16
On April 6, 2004, once again Simas Mobil
In order to expand the business of
PT Asuransi Sinar Mas (ASM), branch office
kept its promise to pay a claim of CTL
PT Asuransi Sinar Mas in the banking
Semarang, held Simas Medicare Health
(Constructive Total Loss) for a Chrysler
market, especially for the products of Fire
Insurance at Hotel Patra Jasa Semarang on
Cherokee automobile which had an accident
Insurance and Motor Vehicle insurance on
June 10, 2004. The seminar was attended
on the Pondok Indah freeway. The total
Tuesday, February 13, 2004, an agreement
by over 103 participants originating from
payment of the claim, which was paid to
was signed between PT Asuransi Sinar Mas
57 companies operating in the area of
PT Sentrakar ya Ekamegah (Sun Motor
and Bank Danpac to close insurance policies
Semarang, Kudus, Solo, Yogyakar ta, and
Group), amounted to Rp 540 million. This
of Bank Danpac’s customers.
surroundings.The objective was to provide
claim payment was done less than one week
education on the impor tance of health
since the complete document submitted.This
insurance and the insurance products
is in-line with Asuransi Sinar Mas’
available at ASM. Similar seminars are
commitment, which is “One Week Payment”,
planned at several other cities around
to customers and automobile workshops as
Indonesia.
business partners.
At the same time, an insurance policy
handover took place between ASM and
PT Country Form Indonesia (CFI) as the
newest Simas Medicare Semarang member
who joined in June 2004. In 2004, ASM
targets to obtain insurance premium up to
Rp 200 billion.
17
Left: Joint-Agreement between Asuransi
Sinar Mas and BII to provide health
insurance, known was Simas Medicare, to
BII employees and their families
throughout Indonesia.
Right: Asuransi Sinar Mas paid fire claim
amounting to Rp 3 billion to Mesra Mall
in Samarinda.
Auditors’ Report
INDEPENDENT AUDITOR’S REPORT
Repor t No. 3120.1/04-B1A
The Stockholders, Commissioners, and Directors
PT ASURANSI SINAR MAS
We have audited the accompanying Consolidated Balance Sheets of PT Asuransi Sinar Mas and Subsidiary as of
December 31, 2003 and 2002, and the related Consolidated Statements of Income, Changes in Stockholders’ Equity,
and Cash Flows for the years then ended. These Financial Statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these Financial Statements based on our audits.
We conducted our audits in accordance with auditing standards established by the Indonesian Institute of
Accountants. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the Consolidated Financial Statements are free of material misstatement. An audit includes examining, on a
test basis, evidence suppor ting the amounts and disclosures in the Consolidated Financial Statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall Consolidated Financial Statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the Consolidated Financial Statements referred to above present fairly, in all material respects, the
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Financial Position of PT Asuransi Sinar Mas and Subsidiary as of December 31, 2003 and 2002, and the Results of
their Operations, Changes in their Stockholders’ Equity and their Cash Flows for the years then ended, in conformity
DRS JOHAN, MALONDA & REKAN
Licence No. 98.2.00010
Kiman Mustika Karta, SE, Ak., BAP
Public Accountant Licence No. 02.1.0820
March 20, 2004
Notice to Readers
Although the Indonesian Institute of Accountants is a member of the International Accounting Standards Committee (IASC), the accompanying Financial Statements,
presenting the Financial Position, Results of Operations, Changes in Stockholders’ Equity and Cash Flows, may not be completely the same as those prepared under
accounting principles and practices generally accepted in countries and jurisdictions other than Indonesia. Accordingly, it might occasionally happen that a certain
minor par t of the accompanying Financial Statements and the auditor’s report thereon may have to be viewed in conjunction with accounting principles and auditing
standards generally accepted and applied in Indonesia.
with generally accepted accounting principles applied in Indonesia.
PT Asuransi Sinar Mas and Subsidiary
Consolidated Balance Sheets
December 31, 2003 and 2002
2003
2002
Rp
Rp
I NV E ST M E NT S
Time Deposits
98,576,890,750
199,556,531,460
180,259,030,752
108,447,141,754
12,404,017,815
11,051,199,490
1,724,900,000
49,999,926
35,460,200,649
14,328,341,891
4,264,780,413
1,899,496,778
332,689,820,379
335,332,711,299
5,875,847,950
3,907,637,396
PREMIUM RECEIVABLES
74,625,693,591
37,409,164,380
REINSURANCE RECEIVABLES
20,422,476,359
30,259,281,752
6,557,241,878
6,401,956,678
39,075,584,091
32,048,878,193
48,119,700
13,710,000
OTHER ASSETS
4,553,356,194
1,467,054,468
TOTAL ASSETS
483,848,140,142
446,840,394,166
Marketable Securities
Investment in Shares of Stock :
-
Associated Company
-
Other Companies
Buildings
Mortgage Loans
Total Investments
CASH ON HAND AND IN BANKS
20
OTHER RECEIVABLES
PROPERTY AND EQUIPMENT - Net of
Accumulated Depreciation of Rp 27,575,919,211
and Rp 22,277,039,918 as of
December 31, 2003 and 2002, respectively
DEFERRED TAX ASSETS
Consolidated Balance Sheets
December 31. 2003 and 2002 (continued)
2003
2002
Rp
Rp
L IA B I L IT I E S
Claim Payables
8,028,646,201
14,003,646,763
Estimated Own Retention Claims
37,510,050,306
31,825,502,913
Unearned Premiums
93,139,824,367
88,948,184,554
Reinsurance Payables
53,531,598,527
72,998,334,547
Commission Payables
10,408,508,290
17,330,763,108
1,712,913,292
924,839,506
Taxes Payable
Deferred Tax Liabilities
14,711,485,160
11,172,697,280
Other Payables
12,515,335,321
10,174,573,404
231,558,361,464
247,378,542,075
Total Liabilities
21
MINORITY INTEREST IN NET ASSETS OF
SUBSIDIARY
51,672,325
100,000,000,000
100,000,000,000
22,361,188
-
152,211,409,050
99,410,179,766
252,233,770,238
199,410,179,766
483,848,140,142
446,840,394,166
Capital Stock - Rp 1,000,000 par value per share
Authorized - 400,000 shares
Subscribed and Fully Paid - 100,000 shares
Difference Arising from Changes in Equity
Transactions of Subsidiary
Retained Earnings
Total Stockholders’ Equity
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
See accompanying Notes to Consolidated Financial Statements
which are an integral par t of these Consolidated Financial Statements
56,008,440
STOCKHOLDERS’ EQUITY
Consolidated Statements of Income
For The Years Ended December 31, 2003 and 2002
2003
2002
Rp
Rp
PREMIUM INCOME
Gross Premiums
Reinsurance Premiums
Increase in Unearned Premiums
Total Premium Income
685,962,074,702
641,710,781,042
(323,736,182,452)
(329,301,992,075)
(4,191,639,813)
358,034,252,437
(11,319,203,619)
301,089,585,348
UNDERWRITING EXPENSES
Claim Expenses :
Gross Claims
179,101,238,475
245,722,514,457
Reinsurance Claims
(41,935,682,429)
(115,873,049,515)
Increase (Decrease) in Estimated Own Retention
Claims
Total Claim Expenses
Net Commission Expenses
Other Underwriting Expenses
22
621,864,298
130,471,329,240
129,376,330,838
90,038,327,600
67,260,000
-
272,293,694,277
220,509,656,840
UNDERWRITING INCOME
85,740,558,160
80,579,928,508
INCOME FROM INVESTMENTS
30,396,076,276
4,990,372,127
989,163,375
757,361,066
Total Underwriting Expenses
5,684,547,393
142,850,103,439
GROSS INCOME FROM CAR SERVICES
OPERATING EXPENSES
(58,293,553,983)
(51,204,435,676)
58,832,243,828
35,123,226,025
2,108,345,980
705,181,186
60,940,589,808
35,828,407,211
Current Tax
(4,630,872,100)
(4,500,556,000)
Deferred Tax
(3,504,378,180)
INCOME FROM OPERATIONS
OTHER INCOME - NET
INCOME BEFORE PROVISION FOR INCOME
TAXES
PROVISION FOR INCOME TAXES
Total Provision for Income Taxes
89,803,395
(8,135,250,280)
(4,410,752,605)
52,805,339,528
31,417,654,606
INCOME BEFORE MINORITY INTEREST IN
NET INCOME OF SUBSIDIARY
MINORITY INTEREST IN NET INCOME
OF SUBSIDIARY
NET INCOME
(4,110,244)
52,801,229,284
(2,981,334)
31,414,673,272
Consolidated Statements of Changes In Stockholders’ Equity
Difference
Arising
from Changes
in Equity
BALANCE AS OF DECEMBER 31, 2001
NET INCOME IN 2002
Transactions
Retained
Capital Stock
of Subsidiary
Earnings
Total
Rp
Rp
Rp
Rp
100,000,000,000
-
67,995,506,494
167,995,506,494
-
-
31,414,673,272
31,414,673,272
100,000,000,000
-
99,410,179,766
199,410,179,766
-
22,361,188
-
22,361,188
-
-
52,801,229,284
52,801,229,284
100,000,000,000
22,361,188
152,211,409,050
252,233,770,238
DIFFERENCE ARISING FROM CHANGES IN
EQUITY TRANSACTIONS OF SUBSIDIARY
NET INCOME IN 2003
23
Consolidated Statements of Cash Flows
2003
2002
Rp
Rp
CASH FLOWS FROM OPERATING ACTIVITIES
Income before Provision for Income Taxes
60,940,589,808
35,828,407,211
Adjustments to Reconcile Income before Provision for
Income Taxes to Net Cash Provided by (Used in)
Operating Activities :
Gain on Sale of Marketable Securities
Depreciation
Unrealized Loss (Gain) on Marketable Securities
Gain on Sale of Property and Equipment
Equity in Net Income of an Associated Company
Interest Income and Mutual Fund
Estimated Liability for Employee Benefits
(5,850,294,848)
6,152,282,200
33,228,031
(103,537,532)
(241,766,928)
5,610,608,911
(1,964,325,295)
(283,069,598)
(1,352,818,325)
(1,450,847,706)
(29,230,651,728)
(21,503,709,251)
1,530,373,115
276,372,701
Increase (Decrease) in :
24
Premium Receivables
Reinsurance Receivables
Other Receivables
Other Assets
(37,216,529,211)
6,571,940,584
9,836,805,393
(3,524,264,780)
(45,402,146)
1,481,234,741
(3,086,301,726)
97,555,007
Decrease (Increase) in :
Claim Payables
(5,975,000,562)
(2,207,003,379)
Estimated Own Retention Claims
5,684,547,393
621,864,298
Unearned Premiums
4,191,639,813
11,319,203,619
Reinsurance Payables
(19,466,736,020)
40,638,386,693
Commission Payables
(6,922,254,818)
Taxes Payable
787,799,069
Other Payables
810,388,802
Cash Provided by (Used in) Operating Activities
Income Tax Paid
Net Cash Provided by (Used in) Operating Activities
(5,401,036,277)
117,235,410
(4,070,268,660)
(19,281,873,292)
61,916,517,301
(4,630,597,383)
(4,754,624,559)
(23,912,470,675)
57,161,892,742
Consolidated Statements of Cash Flows
For The Years Ended December 31, 2003 and 2002 (continued)
2003
2002
Rp
Rp
CASH FLOWS FROM INVESTING ACTIVITIES
Placement in Investments in Shares of Stock
(77,948,589,241)
(95,176,261,264)
Receipt from Interest and Mutual Funds
29,340,534,782
21,831,784,867
Proceeds from Sale of Marketable Securities
87,564,186,254
17,560,910,673
Proceeds from Sale of Property and Equipment
Acquisitions of Property and Equipment
Net Cash Provided by (Used in) Investing Activities
242,415,923
1,052,796,352
(13,317,866,489)
(5,062,827,905)
25,880,681,229
(59,793,597,277)
NET INCREASE (DECREASE) IN CASH ON HAND AND
1,968,210,554
(2,631,704,535)
CASH ON HAND AND IN BANKS, BEGINNING
IN BANKS
3,907,637,396
6,539,341,931
CASH ON HAND AND IN BANKS, ENDING
5,875,847,950
3,907,637,396
25
Notes to Consolidated Financial Statements
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Basis of Financial Statement Presentation
At Balance Sheet dates, monetary assets and liabilities
The reporting currency used in the preparation of the
denominated in foreign currencies are conver ted into
Consolidated Financial Statements is the Indonesian
Rupiah using the middle rates of expor t money draft
Rupiah (Rp).
determined by Bank Indonesia prevailing at such dates.The
resulting gains of losses are credited or charged to
The Consolidated Financial Statements have been prepared
the current year operations.
based on generally accepted accounting principles applied
in Indonesia, Statement of Financial Accounting Standards
d. I n v e s t m e n t s
No. 28 (revision 1996) and the Historical Cost Concept,
The Company’s investments consist of time deposits, bonds/
except for certain accounts that have been prepared based
promissory notes, shares, warrants, units of mutual funds,
on other measurements as described in each related
exchange offer loans, investments in shares of stock, land
account. The Consolidated Statements of Cash Flows are
and buildings and mortgage loans.
prepared using the Indirect method and classified into
operating, investing and financing activities.
Time deposits consist of statutory time deposits and
ordinary deposits which are stated at nominal values.
The Consolidated Financial Statements, except for the
Consolidated Statements of Cash Flows, are presented
Accounting for investments in securities is as follows :
based on the Accrual basis.
- Investments in debt securities held to maturity are
stated at cost, adjusted for unamortized premium or
26
b. Principles of Consolidation
discount;
The Consolidated Financial Statements include the Financial
- Investments in trading debt and equity securities are
Statements of the Company and its Subsidiary wherein
stated at fair values. Unrealized gains or losses from the
the Company has direct ownership interest of more than
increase or decrease in fair values are reflected in current
50 %. Intercompany balances and transactions, including
operations;
unrealized gains or losses on intercompany transactions,
- Investments in debt and equity securities available for
are eliminated to reflect the financial position and results
sale are stated at fair values. Unrealized gains or losses
of operations of the Company and its subsidiary as one
from the increase or decrease in fair values are recorded
business entity.
as part of equity and recognized as income or expenses
of the period when realized.
c. Foreign Currency Transactions and Balances
The Company maintains its book of accounts in Rupiah.
Direct investments in shares of stock with ownership
interest of less than 20 % are accounted for using the Cost
Transactions involving foreign currencies are recorded in
Indonesian Rupiah at the rates of exchange prevailing at
the time the transactions are made.
method.
Investments in shares of stock with ownership interest of
The estimated useful lives of property and equipment are
20 % to 50 % (associated companies), directly or indirectly
as follows :
owned, are accounted for using the Equity method
Buildings
whereby the Company’s propor tionate share in the net
Motor Vehicles
4 and 8 years
income or loss of the associated company after the date of
Office Equipment
4 and 8 years
acquisition is added to or deducted from, and the dividends
Furniture and Fixtures
4 and 8 years
received are deducted from, the acquisition cost of the
Partitions
4 and 8 years
20 years
investments. The carrying amount of the investments is
written down to recognize a permanent decline in value of
The estimated useful lives of the Subsidiary’s property and
the individual investments which is charged directly to
equipment are as follows :
current operations.
Buildings
20 years
Machine
8 years
Investment in land and buldings, and mortgage loans are
Motor Vehicles
8 years
stated at cost.
Workshop Equipment Car Services
Interest income from investments in time deposits,
Office Equipment
8 years
4 and 8 years
certificates of Bank Indonesia, bonds/promissory notes and
exchange offer loans are recognized when earned. Dividend
The cost of repairs and maintenance is charged to income
income is recognized upon the receipt of dividend
as incurred. Expenditures which extend the useful life of
declaration letter. Interests and dividend income are
asset or result in increased future economic benefits are
recorded as income from investments. Gains or losses on
capitalized. When assets are retired or otherwise disposed
foreign exchange transactions relating to investments in time
of, their carr ying values and the related accumulated
deposits, bonds/promissory notes and exchange offer loans
depreciation are removed from the accounts and any
are also recognized as income from investments.
resulting gain or loss is reflected in the current operations.
27
The Company provides an allowance for decline in asset
Allowance for doubtful accounts is provided based on a
value based on management’s review at year-end on the
review of the status of individual receivable accounts at
assets which potentially indicate decrease in value by
end year.
considering the estimated recoverable value from the use
of such assets.
f. Property and Equipment
Property and equipment are stated at cost, less accumulated
depreciation. Except for buildings which are depreciated
using the Straight-line method, the Company’s property
and equipment are depreciated using the Double Declining-Balance method.
e. Allowance for Doubtful Accounts
g. Premium Income Recognition
Claims in process (estimated own retention claims) are
Premiums on insurance and reinsurance contracts are
computed based on estimated loss of own retention claims
recognized as revenue over the policy contract period in
which at Balance Sheet date are still in process. Claims
proportion to the insurance coverage provided. Premiums
incurred but not repor ted are computed based on
from coinsurance is recognized as income based on the
reasonable estimation of claims incurred but not
Company’s proportionate share of the premium. Premium
reported.
due to reinsurance company is recognized as reinsurance
premium during the period of reinsurance contract in
Changes in estimated own retention claims are recognized
proportion to the insurance coverage received.
in the Statements of Income of the period in which they
occur. Increase (decrease) in estimated own retention claims
Unearned premiums are calculated in aggregate using a
represents the difference between estimated own retention
certain percentage in accordance with Decree No. 424/
claims for the current and prior period.
KMK.06/2003 of the Minister of Finance of the Republic of
Indonesia which is 40 % of the amount of own retention
Claim expenses in the Statements of Income consist of
premiums.
gross claims, reinsurance claims and increase (decrease) in
estimated own retention claims. Reinsurance claims are
Increase (Decrease) in unearned premium representing the
presented as deduction from gross claims.
difference between unearned premium balance for the
current and prior period is charged to the Consolidated
i. Net Commission
28
Income Statements.
Commissions due to insurance brokers, agents and other
insurance companies in connection with the insurance
The presentation of premium income in the Statements of
coverage are recorded as commission expenses, whereas
Income reflects gross premiums, reinsurance premiums and
commissions obtained from reinsurance transactions are
decrease (increase) in unearned premiums. Reinsurance
recorded as deduction from commission expenses, and
premiums are presented as direct deduction to gross
recognized when earned. If the commission received is more
premiums.
than total commission expenses, the difference is presented
as a commission income in the Statement of Income.
h. Claim Expenses
Claim expenses consist of settled claims, claims in process,
j. R e i n s u r a n c e
including claims incurred but not repor ted and claim
The Company reinsured part of its total accepted risk to
settlement expenses.
other insurance and reinsurance companies. The amount
of premium paid or par t of premium for prospective
Claims are recognized as expenses at the time liabilities for
reinsurance transactions is recognized as reinsurance
claims are recognized. A portion of the claims received from
premiums within the reinsurance contract period, in
reinsurers are recorded as deduction from claim
proportion to the insurance coverage provided. Payment
expenses in the same period when the claim expenses are
or obligation for retrospective reinsurance transactions is
recognized. Subrogative rights are recognized as deduction
recognized as reinsurance receivable in an amount
from claim expenses at the time of realization.
equivalent to the recorded liability in connection with the
reinsurance contract.
k. Income from Car Services
Deferred tax is determined using the prevailing tax rate or
Income from car services and sparepart replacement are
substantially applied at Balance Sheet date. Deferred tax is
recognized when car services and spareparts are rendered
credited in the Income Statement, except for the deferred
to customers.
tax which is directly credited to equity.
l. E x p e n s e s
Deferred tax assets and liabilities are presented in the
Operating and other expenses are recognized when
Balance Sheet, except for the deferred tax assets and
incurred (accrual basis).
liabilities for different entity, based on the compensation in
accordance with the presentation of current tax assets and
m. Pension Plan
liabilities.
The Company has established a defined contribution
pension plan covering its local permanent employees. The
o. Difference arising from Changes in Equity
Company’s contribution to the plan is charged to current
Transactions of Subsidiary
operation.
Difference arising from changes in equity transactions of
subsidiary is recorded as part of equity in “Difference arising
n. Provision for Income Tax
from Changes in Equity Transactions of Subsidiary” account.
Provision for current Income Tax is determined based on
Such difference consist of the presentation of unrealized
the estimated taxable income for the year using the
gain (losses) of a Subsidiary’s equity securities available for
prevailing tax rate.
sale in the Equity section.
29
Tax method to determine the provision for income tax in
accordance with Statement of Financial Accounting
Standards (PSAK) No. 46 regarding “Accounting for Income
Taxes”. The aim of deferred income taxes is to reflect the
tax effects on timing differences between financial reporting
and income tax purposes.
The deferred tax assets and liabilities are recognized for
the future tax consequence which arises from the difference
in carrying value of the assets and liabilities in the Financial
Statements. The deferred tax assets and liabilities are
recognized for the deductable timing difference provided
there is large possibility they could be used to substract
future taxable income.
The Company and Subsidiary adopt the Deferred Income
Products
PT Asuransi Sinar Mas specializes in coverages tailored to the specific needs of business.
The general range includes:
Fire and Allied Perils Insurance
• Glass
Surety Bond
• Homeowners
• Burglary
• Customs Bond
• Indemnity Against Loss of Profit or
• Fidelity Guarantee
• Bid Bond
• Direct Mailing
• Construction/Performance Bond
Interruption of Business
30
• Property All Risk
• Industrial All Risk
• Maintenance Bond
Engineering Insurance
• Supply Bond
• Contractors All Risk/Erection All Risk
• Bankers Blanket Bond
Marine Insurance
• Machinery Breakdown
• Surety Bond
• Marine Hull
• Contractors Plant and Machinery
• Marine Cargo
• Heavy Equipment
• Boiler Explosion
General Accident Insurance
• Electronic Equipment
• Personal Accident
• Computers
• Hospitalization and Health
• Cash in Transit
Motor Vehicle Insurance
• Cash in Safe
• Comprehensive All Risk including TPL
• Comprehensive General Liability
• Comprehensive All Risk including
SRCC, Flood, and TPL
• TLO (Total Loss Only)
Branch and Representative Offices
BRANCH OFFICES
Medan
Jl. Mangkubumi No. 18, Medan 20151
Tel
: (061) 453 1532, 453 4700,
451 0707
Fax
: (061) 453 7697
Email : admin.mdn@sinarmas.co.id
Batam
Komplek Naga Sakti No. 2,
Jl. Raden Patah, Batam
Tel
: (0778) 459 218 (Hunting),
459 214, 455 517, 455 465,
455 489
Fax
: (0778) 459 213
E-mail : admin.btm@sinarmas.co.id
Palembang
BII Building, 3rd Floor,
Jl. Kapt. A. Rivai 1293, Palembang
Tel
: (0711) 316 966, 351 920
Fax
: (0711) 313 559
E-mail : admin.plg@sinarmas.co.id
Tangerang
Komp. Ruko Bumi Mas Raya No. 15/P3,
Jl. MH. Thamrin, Tangerang
Tel
: (021) 557 50808
Fax.
: (021) 557 52828
E-mail : admin.tng@sinarmas.co.id
Jakarta Selatan
Komp. Perkantoran Kebayoran Mall,
Jl. Kebayoran Baru No. 9 - 10, Jakarta
Tel
: (021) 720 5027, 739 2951
Fax
: (021) 720 5031
E-mail : admin.jaksel@sinarmas.co.id
SPD
Wisma Eka Jiwa, 9th Floor, R. 11,
Jl. Mangga Dua Raya, Jakarta 10730
Tel
: (021) 625 7687 (Hunting)
Hotline : (021) 625 7688
Fax
: (021) 625 7689
E-mail : admin.spd@sinarmas.co.id
Bekasi
Komp. Ruko Bekasi Mas,
Jl. Ahmad Yani Blok C No. 4-5, Bekasi
Tel
: (021) 889 3228-9, 884 1275
Fax
: (021) 884 0343
E-mail : admin.bks@sinarmas.co.id
Bandung
Wisma Eka Life,
Jl. Abdul Rivai No. 2, Bandung
Tel
: (022) 420 7272 (Hunting),
420 1144
Fax
: (022) 420 7211
E-mail : admin.bdg@sinarmas.co.id
Surabaya
BII Building, Jl. Argopuro No. 53 A, Surabaya
Tel
: (031) 534 2261/8152 (A),
532 0528 (Hunting),
532 0531/2/27
Fax
: (031) 532 0529 / 534 8155 (A)
E-mail : admin.sby@sinarmas.co.id
Samarinda
Jl. KH. Ahmad Dahlan TR. 03 No. 45, Samarinda
Tel
: (0541) 735 497, 738 405
Fax
: (0541) 735 426
E-mail : admin.smrd@sinarmas.co.id
Pontianak
Jl. Imam Bonjol No. 1A, Pontianak
Tel
: (0561) 738 521 (Hunting)
Fax
: (0561) 730 529
E-mail : admin.ptk@sinarmas.co.id
Makassar
Komp. Latanette Plaza Blok D-11
Jl. Sungai Sadang, Makassar
Tel
: (0411) 316 752 (Hunting),
334 284 (Direct)
Fax
: (0411) 326 556
E-mail : admin.ujpdg@sinarmas.co.id
REPRESENTATIVE OFFICES
Pematang Siantar
BII Building, Jl. Dr. Soetomo No. 245,
Pematang Siantar
Tel
: (0622) 26711
Fax
: (0622) 431 655
E-mail : admin.psiantar@sinarmas.co.id
Padang
Jl. Jend. Sudirman 14, Padang
Tel
: (0751) 810 348
Fax
: (0751) 840 833
E-mail : admin.pdg@sinarmas.co.id
Pekanbaru
Jl. Jend. Sudirman No. 97, Pekanbaru
Tel
: (0761) 32282, 20150
Fax
: (0761) 33605
E-mail : admin.pkbaru@sinarmas.co.id
Jambi
BII Building, Jl. Dr. Soetomo No. 54, Jambi
Tel
: (0741) 32141, 32146 ext. 1311,
22232 (Direct)
Fax
: (0741) 20872
E-mail : admin.jambi@sinarmas.co.id
Bengkulu
Wisma Eka Life, 2nd Floor,
Jl. S. Parman No. 62E, Bengkulu
Tel.
: (0736) 348 881
Fax.
: (0736) 348 881
E-mail : admin.bkl@sinarmas.co.id
Bandar Lampung
Wisma Eka Life, 2nd Floor,
Jl. Pattimura No. 8, Bandar Lampung
Tel.
: (0721) 482 949, 470 482
Fax.
: (0721) 482 747
E-mail : admin.lpg@sinarmas.co.id
Cilegon
Komp. Ruko Mahkota Mas, Blok C No. 3,
Jl. Serang Cibeber, Cilegon, Banten
Tel.
: (0254) 390 372
Fax.
: (0254) 390 376
E-mail : admin.cilegon@sinarmas.co.id
Jatinegara
Jl. Jatinegara Timur No. 59,
Jakarta Timur
Tel.
: (021) 280 1375-77
Fax.
: (021) 280 1374
E-mail : admin.jtngr@sinarmas.co.id
Depok
BII Building, 2nd Floor,
Jl. Margonda Raya No. 38, Depok
Tel.
: (021) 7720 2343
Fax.
: (021) 7720 2493
E-mail : admin.depok@sinarmas.co.id
Bogor
Jl. Raya Wangun No. 307, Tajur, Bogor
Tel
: (0251) 249 111
Fax
: (0251) 249 353
E-mail : admin.bgr@sinarmas.co.id
Sukabumi
Jl. Perintis Kemerdekaan No. 17B, Sukabumi
Tel
: (0266) 236 670
Fax
: (0266) 236 670
E-mail : admin.skbm@sinarmas.co.id
Karawang
Jl. Tuparev No. 381/ Jl. Nusa Indah,
Cinago, Karawang
Tel.
: (0267) 408 550
Fax.
: (0267) 408 565
E-mail : admin.krwg@sinarmas.co.id
Tasikmalaya
Jl. Yudanegara No. 16-17, Tasikmalaya
Tel
: (0265) 311 027
Fax
: (0265) 311 137
E-mail : admin.tasikmalaya@sinarmas.co.id
31
Jakarta Utara
Jl. Jembatan Dua Raya No. 11 G, Jakarta
Tel
: (021) 662 2332 (Hunting)
Fax
: (021) 668 4746
E-mail : admin.jakut@sinarmas.co.id
Semarang
Rukan Pemuda Mas Blok A Kav. A/8,
Jl. Pemuda No. 150, Semarang
Tel
: (024) 356 8138 (Hunting),
356 8143, 358 8690 (A)
Fax
: (024) 356 8581-2,
356 8142 (A)
E-mail : admin.smg@sinarmas.co.id
Cirebon
Jl. Tuparev No. 30, Cirebon
Tel
: (0231) 246 471
Fax
: (0231) 248 514
E-mail : admin.crb@sinarmas.co.id
Cilacap
Komp. YKPP, Blok I,
Jl. MT. Haryono No. 79/K, Cilacap
Tel.
: (0282) 533 241
Fax.
: (0282) 520 339
E-mail : admin.clcp@sinarmas.co.id
Tegal
Jl. Jend. Sudirman No. 40, Tegal
Tel.
: (0283) 354 481
Fax.
: (0283) 354 481
E-mail : admin.tegal@sinarmas.co.id
Purwokerto
Jl. Letjen S. Parman No. 77, Purwokerto
Tel
: (0281) 641 451
Fax
: (0281) 640 573
E-mail : admin.pwt@sinarmas.co.id
Pekalongan
BII Building,
Jl. Diponegoro No. 4, Pekalongan
Tel.
: (0285) 429 549
Fax.
: (0285) 429 549
E-mail : admin.pklng@sinarmas.co.id
32
Magelang
BII Building,
Jl. Ahmad Yani No. 11, Magelang
Tel.
: (0293) 314 465
Fax.
: (0293) 314 465
E-mail : admin.mgl@sinarmas.co.id
Yogyakarta
Jl. Balapan Kemakmuran No. 11, Yogyakarta
Tel
: (0274) 557 222
Fax
: (0274) 557 224
E-mail : admin.yogya@sinarmas.co.id
Solo
BII Building, Jl. Slamet Riyadi No. 307, Solo
Tel
: (0271) 723 172-3
Fax
: (0271) 722 911
E-mail : admin.solo@sinarmas.co.id
Kediri
BII Building,
Jl. Hayam Wuruk No. 20B-C, Kediri
Tel.
: (0354) 685 582
E-mail : admin.kediri@sinarmas.co.id
Mojokerto
BII Building,
Jl. Jaksa Agung Suprapto No. 30, Mojokerto
Tel
: (0321) 329990
Fax
: (0321) 329990
E-mail : admin.mjkt@sinarmas.co.id
Kudus
Komp. Ruko Panjunan,
Jl. Lukmonohadi 65, Kudus
Tel
: (0291) 435 145
Fax
: (0291) 435 145
E-mail : admin.kudus@sinarmas.co.id
Malang
Jl. Letjen S. Parman No. 102 C, Malang
Tel
: (0341) 417 778, 406 496, 406 497
Fax
: (0341) 417 702
E-mail : admin.mlg@sinarmas.co.id
Jember
Jl. Gatot Subroto 48, Jember
Tel
: (0331) 427 222, 427 210
Fax
: (0331) 427 200
E-mail : admin.jember@sinarmas.co.id
Manado
BII Building, Jl. Sam Ratulangi No. 18, Manado
Tel
: (0431) 844 365
Fax
: (0431) 852 001
E-mail : admin.mdo@sinarmas.co.id
Palu
BII Building, Jl. Danau Lindu No. 345, Palu
Tel
: (0451) 423 262
Fax
: (0451) 421 919
E-mail : admin.palu@sinarmas.co.id
Jayapura
Ruko Pasifik Permai, Blok C No. 34
Jayapura
Tel.
: (0967) 521 227
Fax.
: (0967) 521 227
AGENCY
Denpasar
Kompleks Graha Renan,
Jl. Raya Puputan No. 20 A-B,
Renan, Denpasar
Tel
: (0361) 231 752/3
Fax
: (0361) 239 542
E-mail : admin.denpasar@sinarmas.co.id
Agency Division Mangga Dua
Wisma Eka Jiwa, 9th Floor, R.11,
Jl. Arteri Mangga Dua, Jakarta Pusat
Tel
: (021) 625 7687 ext. 1101/3
601 8733 (Direct)
Fax
: (021) 601 8868
E-mail : admin.agt-md@sinarmas.co.id
Mataram
BII Building,
Jl. A.A. Gde. Ngurah No. 48 C-D, Mataram
Tel.
: (0370) 630 814/15
Fax.
: (0370) 630 813
E-mail : admin.mtr@sinarmas.co.id
Agency Division Fatmawati
Komp. Duta Mas Blok A2 No. 9 - 10,
Jl. R.S. Fatmawati, Jakarta Selatan
Tel
: (021) 723 5222
Fax
: (021) 720 6277
E-mail : admin.agt-fmt@sinarmas.co.id
Banjarmasin
Jl.MT. Haryono No. 25, Rt. 10,
Banjarmasin
Tel
: (0511) 52177, 50077, 54571,
362875
Fax
: (0511) 52177
E-mail : admin.bjmn@sinarmas.co.id
Balikpapan
Komp. Balikpapan Permai Blok D1/3,
Jl. Jend. Sudirman, Balikpapan
Tel
: (0542) 415 682
Fax
: (0542) 427 623
E-mail : admin.blkppn@sinarmas.co.id
Sampit
Jl. D.I. Panjaitan No. 39A,
Rt. 03 Rw. 01, Kelurahan Hulu, Sampit
Tel.
: (0531) 31951
Fax.
: (0531) 31951
Singkawang
Jl. Diponegoro No. 33 C,
Singkawang, Pontianak
Tel
: (0562) 638 976
Fax
: (0562) 638 976
Asuransi Simas Mobil
Wisma Sinar Mas Dipta
Jl. Fachruddin No. 18, Jakarta 10250, Indonesia
Tel. : (62-21) 390 2141 (Hunting)
Hotline : (62-21) 392 0888, 625 7688
Fax.: (62-21) 390 2159-60
E-mail: info@sinarmas.co.id
http://www.sinarmas.co.id

f/a simas ar03 - Asuransi Simasnet

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