2012, "Jasa Raharja" Rp 1.5 trillion budget for claims

JAKARTA. PT Jasa Raharja (Persero) set aside the claims of Rp 1.5 trillion this year. The amount is increased by 7% compared to total funding of claims paid in 2011 Raharja Services Rp 1.4 trillion. Although only increased slightly, the management is ready to pay any claim of claims filed.

"Due to the principle of law is to be paid. If up to Rp 3 trillion, we will still pay," said Director of Services Raharja, Diding S. Anwar on Thursday (2/16/2012). Of the total claims in 2011, 70% is paid to victims of motor vehicle accidents.

On the same occasion, to explain Services Raharja Diding no plans to change the placement of funds under management. "We follow the investment direction of the Minister of Finance a bond that is prudent because safer," said Diding.

The composition of his own investment portfolio Raharja Services sebanya 80% is in bonds and medium term notes (MTM). The rest comes from deposits and government bonds and Bank Indonesia.

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Workers Need Social Security

JAKARTA, KOMPAS.com - The management of PT Jamsostek (Persero) continue to boost the amount of participation. Workers need a social security so that they can work more quietly and productivity increases.

Director of Membership Ansyori Jamsostek Ahmad argues, it optimizes the National Movement involving Mandatory Social Security Employers' Association of Indonesia, unions, the Ministry of Manpower and Transmigration, the Ministry of State Owned Enterprises, and local governments. Social Security is the right of workers according to the Act (Act) No. 3 of 1992 on Social Security.

According to the Act, Social Security Insurance program runs Accidents, Health Insurance, Old Age Security, and Security Death. Workers and employers to pay a fee sharing program, except Health Insurance fees are fully paid by employers.

Over the last two years, Social Security is also working with high prosecution in Indonesia for law enforcement. So far, there have been several companies that are reluctant to run the Social Security Act are processed entirely legal.

Currently, there are 153 938 active companies pay dues regularly and 100 140 inactive. As of 34.28 million workers who participated in Social Security, 10.25 million active paying dues and 24 million people no longer pay dues.

Previously, Director of Social Security Hotbonar Sinaga states, proposing Social Security Minister of Manpower and Transmigration No. 24 of 2006 on the Employment of Foreign Manpower increased to government regulations. Permennakertrans Social Security is a legal basis to hold informal workers as participants in the program.

Of the 117.4 million person work force by Indonesia in August 2011, 70 percent of them are informal workers. They generally work independently without an employer or self-employed, but also requires the social security.

Although Social Security will move into the Social Security Administering Bodies (BPJS) employment since January 1, 2014, which effectively operate from July 1, 2015, in accordance with Law No. 24/2011 on BPJS, management continues to improve its current membership number. "The increase in benefits for the participant is still our focus," said Hotbonar, Tuesday (02/14/2012) in Jakarta.

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Recapital larger insurance business of heavy equipment

JAKARTA. The growth of the mining business in the country attract Recapital Insurance. Recapital Group subsidiary is intended to hoist the insurance portion of the machine by 20%, from last year only 10%. President Director of Insurance Recapital, Josef Line said, a lot of new mining sites, so the demand for heavy equipment insurance is also great.

Insurance to be one of heavy equipment to hoist the mainstay Recapital acquisition premiums this year, though, is also the risk of potential claims. Last year Recapital to pay claims of U.S. $ 300,000 to PT Tunas Jaya Perkasa severely damaged due to the weight equipment. "But his name risks, it is normal because it was anticipated," said Josef, Friday (10/2).

Besides enlarging the insurance line of heavy equipment, Recapital also interested in working on the insurance delay. Mandala Air target airline. Understandably, the founder of Recapital, Sandiaga Uno, a shareholder of the airline since September 2011.

Insurance Finance Director Recapital, Saut Panggabean targeting, acquisition premiums this year grew 58.73% to Rp 200 billion. In terms of capital, management plans to ask for Rp 30 billion cash injection from shareholders, the Securities and Recapital Recapital Advisor. This additional hoist the company's capital to Rp 100 billion from last year's Rp 70 billion.

In addition, in 2011 to record the acquisition premium Recapital Rp 126 billion alias rose 110% from a year earlier. Sales through direct marketing accounted for 60%. The rest of the agency, brokerage and leasing. Insurance premium contributions come from motor vehicles 30%, 30% property, heavy equipment 10%.

The rest is marine hull insurance, transportation, surety ship to travel insurance. Total assets of Rp 125 billion, growing 78.57%. The plan, this year will add 2 Recapital marketing office in Makassar and Palembang, so the amount of tissue into 12 units.

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Feng Shui Mandiri Card with the lure of insurance

JAKARTA. PT Bank Mandiri Tbk (BMRI) has always tried to seize the opportunity to embrace new customers separately. Coincide with the Year of the Dragon, bank-owned status (SOEs) has launched the latest credit card products.

By carrying the name of Feng Shui Mandiri Card, this card is expected to further strengthen the business Mandiri in the credit card segment both in terms of the transaction or the customer side of the card holder.

Until December 2011, the amount of bank credit card holders with stock code BMRI it reaches more than 2.3 million customers and value of transactions (unaudited) above Rp15 trillion or an increase of more than 20% over the previous year. Growth was well above the market average in the range of 7%. Was based on unaudited data, non-performing loan (NPL) or bad credit plastic money business is only 2%.

Executive Vice President Coordinator Consumer Finance Bank Mandiri Mansyur S Nasution said the Independent Feng Shui Card is a product of collaboration with MasterCard Worldwide are designed specifically according to the principles of Feng Shui consultation with renowned Feng Shui Master.

"Through this product, we want to take advantage of the moment of the Lunar New Year which has just passed to target consumers with particular preference level, especially those who base their business decisions on the calculation of Feng Shui," said Mansyur.

Feng Shui Card published independently in the five card designs where each design has a major natural elements combined with the element of luck. Water with Metal, Wood with Water, Fire with Wood, Land of the Fire and Metals in Soil. Elements, elements, symbols and colors of this card has its own basic nature. The combination of the element of choice that is believed to bring positive energy, balance is also good luck to the cardholder.

Another unique feature of Mandiri Card Feng Shui is the use of eight initial numbers from MasterCard Worldwide special card, which is 5573 3888 which means wealth, away from obstacles and hostility and brought closer to the direction of prosperity.

The lure of insurance

As a sweetener, the owners of the Feng Shui Card Mandiri will pocket the insurance protection in the form of travel insurance, free travel insurance premiums is to protect the card holder if you buy tickets using a credit card with a self-insured for a maximum of Rp 5 billion. Card holders also receive the protection of travel inconvenience insurance, ie insurance premiums free travel inconvenience caused delays for planes up to Rp10 million and lost luggage of up to Rp. 25 million for each trip.

In addition to insurance protection, the Self Feng Shui Card holders will also be able to enjoy the airport lounge facilities at some airports in Indonesia in cooperation with Bank Mandiri and double power points program, in which for every transaction valued at Rp 2,500 customers will receive 2 power points that can be collected to be exchanged with a variety of fantastic prizes.

"With the various advantages and unique features offered, we expect new products Mandiri credit cards are well accepted by consumers in this country as one means of payment options in everyday transactions," said Mansyur.

Meanwhile, Matthew Driver, Division President, South East Asia, MasterCard Worldwide, said he was deeply appreciates the cooperation with the Independent, as one of the largest commercial bank in Indonesia, the launch of this Feng Shui Mandiri card.

"At MasterCard, we are committed to working with its member banks to innovate to meet the needs and aspirations of our card holders. Bank Mandiri is one bank in Indonesia that has appeal to a wide range of customers, so the credit card MasterCard Mandiri Feng Shui is designed to provide convenience for the cardholder transactions and travel easily, "said Matthew.

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AAUI proposing five new proposed designs beleid

JAKARTA. General Insurance Association of Indonesia (AAUI) ultimately determine the attitude of the draft regulations related to the finance minister (RPMK) about the marketing of insurance products. AAUI beleid proposed design is more flexible especially about the application of an actuary, the name of insurance products, experts, provision of marketing two insurance companies, and bancassurance.

"Essentially we do not reject but suggested that better," said Julian Noor, Executive Director AAUI, Thursday (26 / 1).

AAUI proposal, first about the naming of products. In the design of new beleid, naming an insurance product must be distinguished from other insurance products. AAUI specifically requested that the public insurance, there are two levels of standard products and product modifications to the basic alias. The product does not need mandatory standards named but the modification does not matter if you have a different name. "Because if a standard product in exactly the same model everywhere," said Julian.

The second matter of actuaries. Beleid new steering committee requires that the product contains an actuary. The use of actuaries in general insurance is nothing new. Well AAUI asked that the general insurance actuary consultants are allowed to recruit without having to hire an actuary as a permanent employee. Because without having recruiting, companies do not need to spend operational expenses.

However AAUI also provide another alternative. If the regulator still requires, the tolerances required insurance companies have actuaries extended. In the draft beleid, tolerance given 3 years to have adjunct actuary, and 5 years of age should already have a fellow actuaries. AAUI ask for 5 years to 8 years adjunct fellow actuaries and actuaries.

All three experts about the use of obligations in each line of general insurance business. This rule is burdensome, if the insurance company has 13 lines of business. So AAUI proposed that experts be allowed to handle per group not per line of business. For instance, experts can handle marine cargo and surety ship. "In order to do because there is no expert companies can not operate," he continued.

Fourth on the provision of joint product marketing. In the draft beleid, each product marketed jointly between the insurance must be submitted to the Minister of Finance. AAUI asked that a special mechanism of co-insurance is not included that should be reported to the finance minister. Examples of co-insurance, a property guaranteed by the two insurance companies. But for the consortium is not a problem.

Last about bancassurance products. AAUI proposal relating to product collateral and assets not included bancassurance category. Examples relating to this, the insured credit guarantees. "We support this input so that the rules but the rules will also make good," added Cornelius Simanjuntak AAUI Chairman.

Responding to proposals AAUI, Head of Insurance Bureau of Bapepam-LK, Isa Rachmatawarta can not yet responded. For a while it accommodate all proposals from the insurance industry. "We are now examine all the input from AAUI," said Isa Rachmatarwata.

In addition, this new design to enhance your beleid Minister of Finance Decree (KMK) No. 422/KMK.06/2003 on Implementation of Business Insurance and Reinsurance Company and KMK No. 426/KMK.06/2003 of Institutional Business Development and Licensing of Insurance Company and Reinsurance. The purpose of new beleid later to tighten spending, development and marketing of new insurance products.

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Sun Life Financial Obtain Award from Corporate Knights

Sun Life Financial is the only insurance company in North America who voted in the Global 100 Most Sustainable Companies in the World for 2012. The survey was conducted by Corporate Knights magazine and announced at the World Economic Forum in Davos, Switzerland.

"Sun Life is one of six Canadian companies from all industrial sectors are selected in this list" said Dean Connor, Chief Executive Officer of Sun Life Financial. "This ranking is a testament to our commitment to manage the sustainability of the things that are proactive in our business. As a company that develops and provides long-term financial products, we make a promise that will be valid for decades to come. "

The existence of Sun Life as the only North American insurance companies in the Global 100 also becomes an affirmation to our customers that Sun Life Financial focuses on the needs of the community. "Being sustainable emerged as a competitive differentiator. Moreover, many customers who want to do business with companies that are in line with the values they profess. This means keeping Sun Life, a financially strong, with effective governance and innovation that will bring a bright future, "said Connor again.

This year, Corporate Knights ranking methodology to revise them and impose more stringent requirements to demonstrate continuous performance of the company. This is the sixth year of Sun Life took this position. Besides listed in the top 100 Global, Sun Life Financial is the only life insurance companies listed in the 50 Best Corporate Citizens of Canada (Canada's 50 Best Corporate Citizens) version of the Corporate Knights in 2011 and "Reliable Life Insurance Company" in Canada according to a survey of consumers about the brand trusted conducted by Reader's Digest in 2011.

Sun Life Financial is an international financial services organization that provides a variety of protection products and the accumulation of wealth for individuals and corporate clients. Founded in 1865, Sun Life Financial and its partners are currently operating at world's major markets, including Canada, the United States, Britain, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of 30 September 2011, Sun Life Financial group of companies had total assets under management of CDN $ 459 billion.

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Insurance Sinar Mas aggressively expanding into the area

JAKARTA. PT Sinar Mas added a long list of public insurance expansions to the area. This year they will open 25 sales offices in outer Java Bali. Each sales office cost around Rp 250 million.

"Incidentally, our partners in the region are also ready to help," guarantee Dumasi Marisina Magdalen Naidoo, Director of Insurance Sinar Mas, Thursday (26 / 1).

According to him, the contribution of the area has not been too great. But over time, the portion of the area will be able to offset the premium Java and Bali. Especially this year, retail products there will be more intensified. Sinar Mas view, retail products and gadgets such as car insurance is suitable for local markets. Even so, the property is also great potential.

Sinar Mas to hoist the mainstay premium contributions Simas areas such as cars. Last year, this product is still a small contribution of Rp 5 billion. Still far from the long-term targets will contribute up to Rp 100 billion. Additionally gadget insurance Sinar Mas, its contribution last year only Rp 3 billion. "But the future of products like these much sought after communities in the region," he explained.

Throughout 2011 and then, premiums Sinar Mas reached Rp 3.7 trillion aka grew 15% from a year earlier. Premium is still the dominant contribution of the property and fires by 40%, 25% of motor vehicle insurance, health insurance 15%. The rest of the various insurance, transport insurance, engineering.

Last year, the insurance company is managed mejaring profit of Rp 300 billion. That number jumped 100% from the previous position.

Improved sustained performance car insurance. In addition, the claims ratio is also improved because of the lack of disaster. This year, Sinar Mas target profit rose 17% from a year earlier.

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AAJI ask for clarity about the tax unitlink

JAKARTA. Since last week, circulated Circular Directorate General (DG) Tax, which forces the Insurance Bureau of Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) to intervene. Head of the Insurance Bureau of Bapepam-LK, Isa Rachmatarwata will meet with the insurance industry and the tax to discuss the new tax rules.

Meeting to follow up on the SE Taxation Office is an unsettling life insurance players. "You have to sit together, so that both understand," said Isa, last weekend. Sit with it, according to Jesus, because the glasses could have reasonable taxes. For that we need to understand each other's point of view. Unfortunately, this meeting is not yet certain time and place.

According to Jesus, this issue has actually been a long time. Only when that's not all insurance confused. For the application of each different tax offices, there are some that do not apply. Given this circular, all the tax office to apply the same rules.

Isa ensure, from the circular, investment unitlink not be exposed to double taxation. "My friends must have a mechanism in the tax calculation," he said. Moreover, the deposit is already taxed.

Based on IRS Circular Letter No. SE-09/PJ.42/1997, unitlink which closed before three years are taxed 20% deposit. However, there is no clarity about the investment unitlink taken after three years.

Bapepam-LK assertion is in accordance request Life Insurance Association of Indonesia (AAJI). Imanto Simon, Head of the Department of Taxation, Finance, and Investing AAJI said, will prompt a dialogue with the Directorate General of Taxation to discuss the application of the tax plan.

Tax issues emerge after the tax unitlink A. Fuad Rahmany issued a Circular Letter (SE) number 97/PJ/2011 on Treatment of Income Tax on establishment or Fertilization Premium Reserve Fund for Taxpayers in the field of Life Insurance and can be deducted from gross income.

In a circular letter, the IRS asserted, remains pure premium reserve is not taxable, because not a tax object. But, insurance products unitlink premium reserve, which comes from investment income, should no longer be a tax deduction. Because it does not become a tax deduction, the premium of insurance products unitlink regarded as an object so that taxes should be taxed.

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Insurance actuaries still need 400

JAKARTA. The insurance industry is still shortage of actuaries. Head of the Insurance Bureau of Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) Rachmatarwata Isa said the number of insurance companies and actuaries power has not been balanced.

In fact, the Bureau of Insurance has designed the rules on the marketing of insurance products. One of its contents requires the use of actuarial services. In the draft new rules, each company must involve product development steering committee for the marketing of insurance products. One member of the committee is an actuary.

Isa said the actuaries who have signature authority of the insurance company actuarial reports only about 150 actuaries at this time. "The rest is still an associate, they have the technical capability but can not be held responsible for his signature," said Isa.

According to Jesus, the existence of an actuary is very important for the insurance industry. They have the technical ability in mathematics, finance, economic statistics to see the economy forward. Even an assessment of what will happen in the hands of actuaries. "But the level of fellow, not the associate level," continued Jesus.

Actuary needs depending on the size of the insurance company. Small companies with products that are not too varied, for example, insurance companies with insurance products and insurance vehicles housing just simply an actuary.

The more varied the products offered, such as insurance off shore and on shore, order ships, and aviation needs more than one actuary. Currently there are 85 general insurance, reinsurance 4, and 45 life insurance. If an insurance company needs a minimum of two actuaries, the actuary needs of 268 people.

Isa added that ideally the number of actuaries more than that number. Because the insurance industry needs an independent actuary to perform the evaluation. "Say the same amount of insurance in two or three years, 300-400 people need to be undertaken," said Isa.

Executive Director of the General Insurance Association of Indonesia (AAUI) Julian Noor also expressed concerns about the limited number of actuaries.

Chairman of the Actuarial Association of Indonesia (PAI), Budi Tampubolon acknowledged, the number of actuaries are still limited. There are currently 350 members of the PAI. Only 150 were entitled to sign the actuarial report. Most of them work in life insurance. "Moreover, the insurance will be needed," he explained. Budi said, ideally the number of actuaries in the company of more than one.

Budi said it is ready to anticipate the needs of actuaries. PAI has issued a Certified Non-Life Analys. Certificate holder simply pocketed the five courses that requirement to be an actuary. PAI also working with the University of Indonesia, UGM, ITB, ITS, and IPB because it has the same subjects with PAI.

To be akturis fellow, actuaries have pocketed the 10 required courses plus one seminar. "This is to accelerate and anticipate two more years, but they have to take another condition," said Budi.

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PT Jamsostek Pay Claims Rp 59 Billion

Padang, Indonesia - PT Jamsostek had paid claims of more than Rp59 billion in West Sumatra. Among others, to guarantee 1014 work accident cases with a value of collateral Rp4, 4 billion, the 7541 pension labor warranty with the Rp51, 7 billion. Then, 131 life insurance to the value of labor compensation Rp3, 4 billion. While the overall security payments since 1978-September 2011 has been paid Rp47, 17 trillion from 175.4 million cases.

Service Director PT Jamsostek, Djoko Sungkono on the sidelines of the giving of a unit of Dr Reksodiwiryo ambulance to the hospital yesterday (23/12) said that, as public programs, social security programs provide for certain rights and obligations for companies and labor, so neither the company nor labor can get legal certainty and protection.

To realize this commitment, said Djoko, commencing December 1, 2011, PT Jamsostek Limited has provided additional benefits for heart surgery, cancer, dialysis and HIV / AIDS are also medical check-ups for workers aged 40 years and above for workers assurance program participants health maintenance. "The granting of this benefit is held simultaneously throughout Indonesia," said Djoko.

Mentioned, the development of membership jamsostek until September 2011 is quite remarkable with 245 693 companies and 33.9 million workforce. Special to PT Jamsostek Region I covers an area of ​​North Sumatra, West Sumatra and Aceh, Social Security membership from January to November 2011 2.538 companies with achievement of about 101.49 percent of the company's 2501 target. While the labor force numbers 136,057 workers to the achievement of 105.76 per cent of the target of 128 650 workers.

From the achievements above, the light Djoko, there is a contribution of West Sumatra branch office that is 441 company with 24,847 workers. He added that the addition amount of such membership, an active participant in the Region I Social Security until November 2011 at 12 823 companies with 565,530 workers. "Among other things for a branch office in West Sumatra there are 2436 companies with 85,899 workers," said Djoko.

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Panin Life will add 1500 agents next year

JAKARTA. The rapid business unitlink make life insurance companies vying to hoist the acquisition of the investment-based insurance products in the next year. Just look at the gait Panin Life, which next year will add about 1,500 new agents for the sake of hoisting the acquisition premium.

Now this number of agents in a subsidiary of the Panin Group of 3200. Year-end target of 3500 agents. "Going forward, the agency still must run parallel with bancassurance," said Vice President Director Simon Imanto Panin Life, Thursday (22/12).

Actually in Panin Life, currently the largest contribution to the distribution line is bancassurance, which is 70%. The remaining agencies 15%, and a combination of group insurance, direct marketing, and sharia by 10%. Panin Life Bancassurance because cooperation with major banks such as Bank Panin, Commonwealth, ANZ and DBS to market the product.

Simon said, next year unitlink still growing. But they do not want to rely solely bancassurance. Moreover, the insurance is in the process of licensing two new products for individual segments. Well, in order to more aggressively marketing this product will use an agency.

The agents certainly be certified. So secure in marketing products unitlink. Additional agents to hoist the acquisition premium of Rp 3.2 trillion aka grew 23% from this year. As an illustration, of the total target of Rp 2.2 trillion in premiums in 2012 through November already collected Rp 1.9 trillion.

This figure grew 70% compared to same period last year. Largest contribution was from unitlink, the remaining 90% of traditional products. Next year, Panin Life set a target of Rp 3.2 trillion atawa premiums grew 23% from this year's target.

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Bakrie Life insurance agents are more responsible than the Bakrie Life itself

If the owner of Bakrie Life can be arbitrarily broken a promise to refund the customer, not so with the agent. In the midst of limited income, they seek to restore customer funds Bakrie Life.

Six years ago, Oki Mulyades be smiling broadly. He managed to carve achievements as Best Life Insurance Financial Consultant at Bakrie. And he easily obtain income into the coffers of Bakrie Life agent.

But now just a shame that hanging themselves this 26-year-old man. Relatives demanded the right to payment of Bakrie Life. Understandably, formerly Oki Bakrie Life to sell more products to them and also to close friends.

As a result, certified life insurance agent Life Insurance Association of Indonesia (AAJI) with license number 012 119 is helter-skelter to take care of disbursement of customer funds. One of their contracts expire November 2010. "My uncle is the customer all Bakrie Life by life assurance policy number 03-41.2004.07672. Supposed to benefit from the cash value at the end of last year. Rather than dilute the benefits, the company's insurer even stumble problem," said Oki to KONTAN, yesterday.

In fact, there are 15 policies out of 10 relatives and colleagues. Each policy is different from one another benefit. Some take all life assurance, personal accident, plus the assurance to education for their children.

Rice has become porridge. Oki broke his career where he first heard of the company like a precarious.

Oki who began his career come from branches of Bandung, West Java, was asked to fight for the right customer is handled. "It was strange to collect the cash value of the benefit promise only piece of the company's group insurance business big fish," said Oki.

Lena had another story. Former employees of this bank intends to help Aan, who became his partner Bakrie Life insurance agent to find customers. He recommends Listyani to invest money through an investment-based life insurance products, Diamond Investa.

Instead of thanks, the woman who lives in Bandung, this fact must bear the moral weight when received Listyani nevertheless guarantee protection. "I am not an agent. I go awry when Listyani demand accountability," he concluded.

Aan as an insurance agent who closes Listyani coverage declined to comment. He claims to have resigned from Bakrie Life since November last year. "Since I was not in charge. Please contact Iceuh in Bakrie Life," said Aan.

Iceuh insurance claim is not an agent, but employees Bakrie Life. When contacted further, Iceuh can not speak much. He asked contacted later.

While Ubaidillah must be willing to live without savings. He has a duty of more than Rp 20 million, which comes from 10 customers Bakrie Life that he had "prospects". They are relatives and friends nearby. "My salary at the company now only USD 2.5 million. Of the 10 people, I just paid off one of Rp 2.7 million," he explained.

He admitted to not get your hopes up his money back. "According to the agreement, if the return policy before maturity only got half. Yes, hopefully right back in half, so that funds could be to pay for my other clients," he explained.

Just for information, relatives and colleagues Oki, Ubayd Allah and Lena just a fraction of the victims of Bakrie Life insurance products. Activity Bakrie Life itself has been discontinued since the case of default of 250 customers Diamond Investa (DI) with a total fund of Rp 360 billion stagnate.

Previously, Head of Insurance Bureau of Bapepam-LK, Isa Rachmatarwata estimates, the debt owed to non-DI customers around Rp 50 billion. The problem is exactly the client IN.

When contacted KONTAN, President Director of Bakrie Life Timoer Soetanto admitted, Bakrie Capital Indonesia (BCI) as the holding company and other business groups are still seeking settlement of obligations. "But we have not dared to schedule because there are no funds," he explained.

Ironically, instead of putting mortgage payments a refund, instead pursuing BCI broadcasting rights football World Cup 2014 in Brazil. BCI willing to spend enough for the broadcasting rights.

Early last week, the Insurance Bureau of Bapepam-LK back Bakrie called Life and parent management business. The meeting was reportedly to admonish Bakrie Life to immediately make a payment. Unfortunately, such a meeting after the meeting deadlocked. Bakrie Life is often raised their hands when mugged settlement obligations. Is this management strategy to gain time until regulators decided revoke the business license?

If so, regulators are no longer authorized to persuade Bakrie Life restore the lost funds. Bakrie Life is also survived the demands of the customer, unless the company distributing the remaining assets, including notes secured medium. Even then, if the debt is really still there.

Strange, large companies and holders of the 2014 World Cup broadcasting rights, really, unable to pay its customers a free piece of the fund.

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This year, Bakrie Life does not pay the mortgage

JAKARTA, Indonesia - If there was a survey, whichever is most fond of the company reneged on a promise, Life Insurance PT Bakrie (Bakrie Life) would be number one.

The company reneged on a promise to pay back the refund installment Diamond Investa customers associated cases of default. Throughout this year, Bakrie Life did not pay the mortgage principal to 250 customers of Rp 80 billion.

Not to mention, the remaining arrears September and December last year to Rp 28 billion, including interest payments in the month of August to December 2011 which reached USD 8 billion. The customers are forced to bite the fingers.

Freddy Koeshariono, customer representatives Diamodn Investa was disappointed over the attitude of Bakrie Life. According to him, Bakrie has violated an agreement with installment refund, as contained in the letter agreement (LCS) between the management of Bakrie Life with customers. "This letter formally signed by both parties," he said, Wednesday (21/12).

In fact, the requesting scheme in installments that just the management of Bakrie Life itself. Because do not see other opportunities, the customer accepted the offer, which is then poured in the LCS. "Ironically, they deny themselves," he said.

Lie Hendy, another customer to make sure, Bakrie Life will not complete its obligations until the end of this year. He obtained the assurance that after visiting the office of Bakrie Life.

In fact, according to LCS, should Bakrie Life early next year have paid off the remaining obligation as much as 50%. While another 50% in installments. "To date, no refund up to 30% of total customer funds," said Lie.

President Director of Bakrie Life Timoer Soetanto previously said it could only await capital injections from Bakrie Capital Indonesia (BCI) as the holding company. "We can not promise anything. Payments depend on wholesale funds business, "he stated. Surprisingly, the BCI is more willing to disburse funds to win the 2014 World Cup broadcasting rights in Brazil

Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) actually requires that Bakrie Life provide periodic reports every week. The report contains, among others, the communication between the directors and the client. "With or without development, Bakrie Life shall submit reports to us," said Head of Insurance Bureau of Bapepam-LK, Isa Rachmatarwata, recently.

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Sun Life Premium Income Reaches USD 638 Billion

JAKARTA, Indonesia - The insurance company PT Sun Life Financial Indonesia (Sun Life) announced its financial performance for the third quarter of 2011, Thursday (17/11/2011) in Jakarta.

The company's total premium income reached USD 638.1 billion, an increase of 28 percent from Rp 498.3 billion in the third quarter in 2010. "We are delighted that in the third quarter of 2011 to grow our business profitably," said Bert Paterson, Country Manager of Sun Life Financial Indonesia.

Bert hope to capitalize on this momentum in the fourth quarter. Support comes from the availability of the products value-for-money is expected to meet the needs of our customers.

As of October 31, 2011, Sun Life has more than 4,800 agents in 43 sales offices in 29 cities across Indonesia, five partner banks, a non-financial institution partners, and more than 200 telemarketers.

In addition to premiums, First Year Premium income (including Single Premium) the company also rose about 44 percent to the Rp313, 1 billion. Premium Income Unit Link to Rp 424.3 billion, while in the same period last year Premium Income Unit Link is Rp207, 6 billion.

That makes the Sun Life's total assets reached Rp 4.46 trillion, up 2 percent from the third quarter of 2010.

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Avrist Grow Quality of Life

MEDAN, Indonesia-As the life insurance company backed international financial institutions in Indonesia, PT Avrist Assurance (Avrist) play an active role in raising public awareness on the development of the quality of family life, both in terms of health and finance.

Vice President Avrist Assurance Director, Adi Purnomo Wijaya said, judging by data AAJI (Life Insurance Association of Indonesia) as of the end of 2010, the total number of life insurance penetration in Indonesia is still low at 13.52 percent.

So, Avrist present to remind how important a quality of life balanced with awareness and concern for the health to financial planning and the importance of life insurance protection for families.

Make it happen, Avrist Assurance held an activity named Avrist Purple Movement with the theme of Healthy Life, Healthy Food and Healthy Finance. Healthy for Life activities is Fun Bike, Fun Aerobic and Health Clinic of health checks and free medical consultations in collaboration with Columbia Asia Hospital and the Hospital Martha Friska Medan.

Meanwhile, a bazaar Healthy Food healthy eating and healthy cooking demonstration by Chef Tatang. Finally, event-filled Healthy Finance Financial Clinic and brought Hendri Hartopo in providing information and various tips on the management. And family financial planning effective and efficient.

"Many of these activities we held in Medan Citadel Square, followed by staff Avrist Assurance and toned appearance bands capital and the division of door prizes," he said.

Previously, the same activity has also been held in Silang Monas Jakarta on 30 October 5700 and followed participants. "The city of Medan, we are targeting more than 3,000 participants attended and later we also held similar activities in Surabaya on 4 December," he explained.

Meanwhile, Kathyn M Parapak as Head Of Corporate Marketing and Communications Avrist Assurance add Avrist Purple Movement itself inspired by the motto Avrist Advancing Life Assurance, which is interpreted from the purple color Avrist identity.

"The color purple reflects the well-being so we would expect Avrist a motion for the community to promote the welfare of yourself and your family in terms of both health and finances," he said.

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Potential Microinsurance Help 77 Million People

Indonesia, Micro-insurance has the potential to help a third of Indonesia's population, or about 77 million people who have no insurance or savings. Given the large potential market share, private insurance companies are now seeing interest to develop products for the poor.

Stefan Koeberle, World Bank Country Director for Indonesia, said the incident unexpected events in life such as falling sick, accident, job loss, crop failure, or death for anyone having a big impact, but the impact of these events was far worse for the home low-income households. "It's important it was for poor families to be able to support themselves and mitigate those risks, without any additional financial burden," said Stefan.

Micro-insurance is one of the key components of the national strategy for financial inclusion in Indonesia, by providing insurance products to low-cost broad market segments and has not served until today. In addition, micro insurance is able to bring Indonesia closer to achieving financial inclusion.

To that end, the World Bank with Insurance Council of Indonesia and the International Finance Corporation to host the Micro Insurance Exchange (Microinsurance Markerplace) the first in Indonesia. With the implementation of these exchanges, Stefan hopes to stimulate innovative ideas for microinsurance.

"Stock microinsurance is an opportunity for stakeholders in Indonesia to learn from international experience in providing protection for the poor from the financial side. Important as that micro insurance solutions to Indonesia emerge from this country, therefore these exchanges also provide space for industry players at the grassroots level to demonstrate their innovations, "he explained.

According to him, there are several factors that until now still hamper the development of microinsurance in Indonesia. From the demand side, still very little awareness of the importance of insurance, lack of insurance products are intended to respond to the needs of the poor, the perception that insurance is only for the rich, and lack of trust those who provide insurance. From the service provider, an insurance contract (policy) is very complicated to dimengeti, billing claims are very time consuming and bureaucratic, as well as high transaction costs make insurance products available today are too expensive for the poor.

Simanjuntak Cornelius, Chairman of the Insurance Council of Indonesia urged the Indonesian government and the insurance industry needs to play better in the community educating the poor about the benefits of insurance. Because it is in line with national strategies for making financial services more affordable and accessible. It is becoming increasingly important because Indonesia is a country highly vulnerable to natural disasters such as earthquakes, tsunamis and volcanic eruptions. "Microinsurance for groups of low-income families have the potential to stimulate the industry in creating innovative products and competitive. It also could provide an alternative for the government to pay direct cash assistance to the poor by more efficient, "he said.

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Axa Mandiri OJK Support Implementation

JAKARTA, Axa Mandiri The insurance industry supports the implementation of the OJK. This rule is very positive for the development of the insurance industry. Hopefully, no longer the case rules that overlap so that Axa Mandiri could further improve its performance. Until the third quarter of 2011, Axa Mandiri's net profit reached Rp 591 billion.

President Director of Axa Mandiri Financial Services Albertus Wiroyo revealed it in the performance of Axa Mandiri exposure in the third quarter of 2011 in Jakarta, Tuesday (11/08/2011). In addition to performance, she asked for ratification of the response related to the Draft Law Financial Services Authority which recently passed the House.

Albertus said, for this industry engaged in bancassurance is very dependent on the regulation of Bank Indonesia and the Bureau of Insurance. Supervision will be better again. Regulation will be organized so that competition becomes more fair.

About the charges, I think so far is still reasonable. If I see advantages in encouraging the performance of the insurance industry, course fees can still be tolerated, said Albertus.

In his presentation, Axa Mandiri just recorded a net profit in the books of the third quarter of 2011 amounting to Rp 591 billion. This number increased 76.5 percent over the same period in 2010 amounting to Rp 335 billion. In fact, has exceeded earnings during the year 2010 amounted to Rp 479 billion.

In the third quarter of 2011, total premiums Axa Mandiri to Rp 3.731 trillion, an annualized new premiums pertahungan reached Rp 2.331 trillion, the fund managed to Rp 9.376 trillion, and the results of non-unitlink investment reached USD 92.4 billion, as well as the strength of its total assets of Rp 10.213 trillion.

Iwan Pasila, Chief Financial Officer of Axa Mandiri, explains, "Investments to be very careful because we also provide some sort of warranty to the customer in order to pay at maturity. For the on-unitlink, we tried on the assets that roughly match the investment characteristics. "

Director of Sales Axa Mandiri K Kadarisman said, there are some channels that have not been optimally developed. Axa Mandiri will optimize the development of micro businesses.

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Know Your Unit Linked Products

Indo, 2008 crisis had hit sales of unit-linked products alias type equity funds investing in stocks based products fell sharply. For example, according to Manager of Marketing & Commonwealth Life Nonagency sound of chuckle Sofyan Budiman, the product Commonwealth Life equity funds in 2008 was down 50.96 percent.

Not surprisingly, many unit-link customers are traumatized with this product. Benny Putranto, for example, claimed to see the fruit of his money around Rp 150 million in unit-linked fallen drastically. Soon, he closed the unit-linked products and break up the relationship with the insurance company issuing units that link. Until now, he has not dared to try to buy a unit-linked products again.

Why does this happen? Quite simply the answer is, many customers were not yet fully understand the insurance product wrapped in this investment. Not only do not understand well the structure and purpose of investing in unit-link, many of them think, the unit's risk-free link.

In fact, the main principle of buying insurance and investment products is get to know the product you buy. Also, buy a product that suits your needs and your own financial capabilities.

Let not confused dealing with unit link, let us recognize the variety of unit-linked products on the market today.

Based on the placement of funds

As mentioned, link units included in the class of nontraditional insurance. The traditional insurance products consisting of term life insurance and term life or whole life or endowment. Unit-linked products were a mixture of two financial products, ie, life insurance and invstasi products. So. premiums paid by customers are divided into two purposes. First, for the purposes of protection. Second, for the development of investment funds alias. Typically, funds investing in mutual funds played.

Based on the placement of investment funds, unit link is divided into four kinds. Four types are link units or units of money market cash fund unit-linked, unit-linked fixed income fund fixed income alias unit-linked, unit-linked managed fund or unit-linked mixed income, and equity fund units link the alias unit-linked stocks.

Besides, now growing unit-linked products that invest funds or unit linked to Islamic sharia. We think of it, this kind as a kind of fifth.

Why the division based on the placement of funds similar in terms of investment in mutual fund products? Already alluded too, is because the investment strategy of forging unit linked assets in mutual funds.

Sound of chuckle said, the type of recommendation to the customer unit also links with the recommendations of the mutual fund clients, which is in accordance with their nature or their investment patterns: aggressive, modest, or conservative. "But, keep this in unit-linked products, the final choice in the hands of customers," said the sound of chuckle.

Therefore, the sound of chuckle notice, choose the link units also need to adjust the character of your investments and your attitude toward risk. For example, banner Harsanto, Financial Planning & Money Love pointed out, if classified as clients aggressively, then the product is suitable for your equity funds.

Similarly sebalikma prouk equity funds unsuitable for the conservatives. Cause. value of units of this stock-based products follow the movements of stock indices fluctuated. Thus, the development of your investment funds will follow the trend of stock indices.

More precisely, let us discuss one by one type of product. Product unit of cash funds or money market fund portion will put investment in money market instruments, such as Bank Indonesia Certificates (SBI), time deposits, and letters uaang with tenures below one year.

Unit linked financial markets, according to the banner, perfect for those who are not familiar with the risks. In addition to the short tenor, also the lowest risk investments.

Next, unit-linked fixed income products. Usually. This product will put a portion of the fund's investment policy holder at least 80 per cent in debt instruments. New rest in money market instruments. For those of you who want to obtain a relatively stable rate of return, fixed income unit-linked products could be an option.

While on a unit-linked managed fund products, the placement of the portion of funds for investment can be varied, such as stocks, bonds, and money market instruments. For example, the investment will be put in stocks, bonds or money markets. This type of link unit is suitable for the customer who preyed adequate income while expecting the results of long-term investment.

Furthermore, the type of unit linked equity fund products. Sound of chuckle said, the share of investment in this product is very diverse. However, generally the largest portion of shares placed in the instrument. If you are an aggressive type, who expect high investment returns and are familiar with high risk, this product is right for you.

Well, equity funds are also still many variants, depending on the insurance companies that offer. There are insurance companies that focus on infrastructure issuers sahamsaham, nusalnya, or can also type link unit that places a special investment funds in commodity emitenemiten.

Finally, unit-linked products pendmpatan Islamic investment funds based on sharia principles. In unit-linked products shariah, also contains four categories. For example, unit-linked Islamic fixed placement. Placement policy of investment funds in this product is in Surat Wadiah Bank Indonesia (SBI special Shariah) and Islamic bonds.

While unit-linked products sharia type of equity fund, investment funds are usually placed in the shares of these listed companies are included in the list of Jakarta Islamic Index. That is, the stock market listed company whose business did not violate Islamic principles, such as the manufacture of liquor or the production of illicit goods.

Well, this fund category type of placement will be the basis for insurance companies in the publishing unit-linked products of them.

Based on the investment objectives

In addition to the placement of investment funds, products unit, the link can also be distinguished based on objective and investment protection. However, the actual purpose of this investment is not a separate product, but the insurance company's programs in order to match the needs of the customer.

Call it a unit-linked investment objectives for education or retirement. There are also links the family unit or units of professional links. According to the sound of chuckle, this is just a kind of package it in the way insurance companies offer their products.

Based on premium payments

In addition to the placement of funds and investment objectives, link units can also be distinguished by type of deposit premiums, ie single and periodic.

The Light of Financial Planners Financial Planning Consultancy Group Donny A. Wiguna explained, the unit linked single premium, customer must pay premiums in advance at the same time. Furthermore, customers no obligation to pay premiums again.

Single premium payment scheme is more suitable for someone who has been financially stable. Understandably, the deposit premium only occurs once during the period of protection insurance policy. As a result the value of premiums were classified as the largest of the other types of insurance.

Meanwhile, on regular premium system, the customer must pay the premiums in stages. Stages of payment can be monthly, quarterly, or every year until a certain time. This type of link units periodically prenu is suitable for customers who want to get protection and investment, but has a limited capacity of the bag. Typically, these products of their choice who is still young.

As a side note, if you choose this type, your investment funds should not be withdrawn aka locked for a certain period, say, six or seven years. Because, until the third year, your premiums are usually discharged to the cost of acquisition. Only after that, the premium that you contribute can be set aside for investment purposes.

When it produces anything, there are the costs deducted from here, such as fund management fees, administrative costs and others. As a result, investment returns or return will be reduced considerable. Probably, the actual return on a unit-linked investment bacilli can reach 30 percent, but funding was cut so that customers will only receive 20 percent.

Perhaps, are less of a problem if the management of these investments can provide high returns. The problem is when insurance companies fail to generate substantial returns. As a result, once cut, the result is tiny. So, on this condition, the locking scheme can be detrimental to customers.

With this system of regular premium, you can file off the premium if the financial condition you are not allowed to pay premiums. In fact, after a period of time, you may not have to pay the premium value of your investment karma enough to pay the premiums.

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90% of Indonesian People doesn't know Insurance

JAKARTA - The World insurance in Indonesia is believed to still be growing. Because the Indonesian people who are not familiar with the insurance exceeds the 90 percent of the total population of Indonesia.

According to Media-Based Data Management and Insurance Department Head Sinar Mas Listya Lin, with a number of world market share of insurance in the future still has a bright prospect.

"The development of insurance can now be greatly expanded, because given the explored portion of a child insurance to 10 percent who do not understand about the insurance. The share market is still huge," said Listya in casual conversation in the office of Legal, Jalan Kebon Sirih Jakarta, Thursday (4 / 11 / 2011).

Regarding competition in the insurance world by himself, he admitted that the most important now is how to handle claims from consumers, who thinks this is a determining factor in the competitive insurance.

"To increase their own insurance claims handling, especially, because they just feel good when he gets an insurance claim," he explained.

He also hopes the insurance industry can continue to evolve, and provide education or knowledge to the majority of people who do not understand about insurance.

"The world community can continue to expand insurance and we can educate the public to have awareness for insurance," he concluded.

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Insurance Company

A company that offers insurance policies to the public, either by selling directly to an individual or through another source such as an employee's benefit plan.

An insurance company is usually comprised of multiple insurance agents. An insurance company can specialize in one type of insurance, such as life insurance, health insurance, or auto insurance, or offer multiple types of insurance.


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