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Opening AGMS

By

Chairperson of Meeting


Current Condition of the Company – December 31, 2019

Solvency Margin Attained

Total Assets

Total Equity

Established Since Year of 1955

Number of branches &

Marketing

Sharia Total Assets

Sharia Total Equity

Number of Employees

267 – Permanent employees

27

138,67%

291 M

857 M

65 years old

Experts

477

124 M

107 M

20


1. Report from the Board of Directors regarding the Company’s activities for the fiscal

year of 2019

2. Ratifying Financial Position Statements and Comprehensive Income Statements of the

Company for the Fiscal Year ending on December 31, 2018 and Report on supervisory

duty of the board of commissioners.

3. Determination and approval for the use of the Company profit for the financial year

ended on December 31, 2019 and determining the amount of dividend, time and

method of payment.

4. Amendment to the Company's Articles of Association

5. Determination of Remuneration for the Members of the Board of Directors and the

Board of Commissioners

6. Appointment of Public Accounting Firm and Public Accountant for Fiscal Year of 2020.

7. Approval of sharia business unit spin-off work plan.

8. Approving the Company’s Business Plan for 2019-2021 to comply with Financial Services

Authority Regulation 24/POJK.05/2019.

MEETING AGENDAS


1. Report from the Board of Directors regarding the Company’s

activities for the fiscal year of 2019

2. Ratifying Financial Position Statements and Comprehensive

Income Statements of the Company for the Fiscal Year ending

on December 31, 2018 and Report on supervisory duty of the

board of commissioners.

FIRST AND SECOND AGENDA


Ujrah Rp 4,52 M -29,56%

2019 Performance

Premi Bruto

Premi Reasuransi

Klaim Bersih

Komisi Bersih

Hasil Underwriting

25,42%

18,75%

16,84%

1,64%

20,96%

Underwriting Result


Growth Gross Premiums (in million Rupiah)

Jenis Asuransi

Kebakaran

Kendaraan

Pengangkutan

Rekayasa

Rangka Kapal

Aneka

JumlahKEBAKARAN

KENDARAAN

ANEKA

PENGANGKUTAN

REKAYASA

RANGKA KAPAL

-18.49%

12.14%

49.18%

7.94%

33,58%

GROWTH

12,68%

11.07%

2.8%

3.72%

-23.37%

-1.04%

-2.63%

GROWTH

1,64%

134.1%

393,701

443,618 450,877

2017 2018 2019

162,928

217,641211,926

116,618

95,054 97,712

16,240

24,330

18,645

13,439

15,071

15,63110,921

12,130

28,396

73,55479,393 78,567


2019 2018

Premi Bruto 450,877 1.64% 443,618

Premi Reasuransi (204,377) 20.96% (168,958) - -

(Kenaikan) / Penurunan Cad Premi 4,305 144.10% (9,761) - -

Klaim Bersih (93,391) 25.42% (74,464) - -

Komisi Bersih (40,866) -18.75% (50,294) - -

Ujrah 4,529 -29.56% 6,430

Hasil Underwriting 116,547 -16.84% 140,141

Hasil Investasi 16,608 28.51% 12,923

Beban Usaha (124,309) -11.68% (140,753)

Laba Usaha 8,846 -28.15% 12,312

Pendapatan Lain-Lain (903) 131.12% 2,903

Beban Pajak 66 105.19% (1,278)

laba Tahun Berjalan 8,009 -42.53% 13,936

Laba Komprehensif 13,782 -20.72% 17,385

Laba Per Saham 23 -42.50% 40

(In million Rupiah)

1.64%

20.96%

144.10%

25.42%

-18.75%

-29.56%

28.51%

-16.84%

-11.68%

131.12%

105.19%

-42.53%

-20.72%

-42,50%

-28.15%

Consolidated Statements of Profit or Loss and Other Comprehensive Income


2019 2018

Kas dan Bank 25,446 6.13% 23,976

Piutang Premi 143,888 0.91% 142,589

Piutang Reas 28,847 -18.15% 35,242

Piutang Lain-lain 4,837 -42.97% 8,482

Investasi 272,058 -6.34% 290,477

Aset Reasuransi 243,772 6.15% 229,641

Aset Tetap 127,896 3.72% 123,308

Aset Tidak Berwujud 891 -53.43% 1,914

Aset Pajak Tangguhan 6,164 6.86% 5,768

Biaya Dibayar Dimuka 2,056 -81.72% 11,246

Aset Lain-Lain 1,666 -9.01% 1,831

Jumlah Aset 857,521 -1.94% 874,473

Consolidated Statements of Financial Position

Jumlah Aset

6.13%

0.91%

-18.15%

-42.97%

3.72%

-53.43%

6.86%

-81.72%

6.15%

-6.34%

-1.94%

2019 2018

Utang Klaim 10,050 -50.95% 20,491

Utang Reasuransi 53,355 -14.71% 62,561

Utang Komisi 7,890 -15.86% 9,377

Utang Pajak 1,443 -42.04% 2,489

Imbalan Kerja Jangka Panjang 12,353 3.57% 11,927

Beban Akrual 3,716 -84.61% 24,138

Liabilitas Kontrak Asuransi 470,546 4.51% 450,259

Utang Lain-lain 6,682 -43.70% 11,870

Jumlah Liabilitas 566,035 -4.57% 593,111

Ekuitas 291,485 3.60% 281,362

Total Liabilitas & Ekuitas 857,521 -1.94% 874,473

(In million Rupiah)

-50.95%

-42.04%

-84.61%

4.51%

-4,57%

3.60%

-1.94%

-14.71%

-15.86%

3.57%

-43,70%

Liabilitas dan Ekuitas

(In million Rupiah)


2019 2018

Pendapatan Ujroh 4,529 -29.56% 6,430

Pend Investasi Peserta 313 165.65% 118

Pendapatan Investasi 3,354 -10.81% 3,760

Beban Komisi (3,009) -22.77% (3,896)

Beban Usaha (1,939) -49.02% (3,803)

Laba Usaha 3,343 9.53% 3,052

Pendapatan Lain 238 7.28% 222

Laba Bersih 3,581 9.37% 3,274

2019 2018

Kontribusi Bruto 13,646 -30.82% 19,727

Beban Ujroh (4,529) -29.56% (6,430)

Bagian Reasuransi (4,449) -28.28% (6,204)

(Kenaikan)/Penurunan Cad Kontribusi 1,694 -62.68% 4,539

Pembayaran Klaim (7,434) -41.00% (12,600)

Klaim Reasuransi 1,352 871.13% 139

Penyisihan Teknis (670) -218.42% 566

Hasil Investasi 834 151.95% (1,605)

Beban pengelolaan investasi (313) 166.12% (118)

Surplus Underwriting Dana Tabarru' 129 106.50% (1,986)

(Dalam Jutaan Rupiah)

-30.82%

-29.56%

-28.28%

-62.68%

-41.00 %

871.13%

-218.42%

151.95%

166.12%

106.50%

sharia business unit

165.65%

-22.77%

-49.02%

7.28%

-29.56%

-10.81%

9.53%

9.37%


Statements of Surplus on Tabarru' Fund Deficiency Statements of Profit or Loss and Other

Comprehensive Income


2019 2018

Investasi 80,591 -3.84% 83,809

Piutang Kontribusi 4,026 -62.99% 10,878

Aset Tetap 14,857 4.85% 14,170

Total Aset 124,057 -4.57% 129,997

Jumlah Liabilitas 13,401 -43.94% 23,904

Dana Tabarru 3,832 3.49% 3,703

Jumlah Ekuitas 106,824 4.33% 102,391

Jumlah Liabilitas, Dana Tabarru dan

Ekuitas124,057 -4.57% 129,997

Statements of Financial Position (In million Rupiah)

-43.94%

-62.99%

3.49%

4.33%

-3.84%

4.85%

-4.57%

-4.57%

sharia business unit


Compliance with Applicable Regulations

Financial Health

Unit Usaha Syariah

Konvensional Realisasi Syarat

Pencapaian Batas Tingkat Solvabilitas 138.67% 120%

Realisasi Syarat Tingkat Solvabilitas Dana Tabarru' 178.50% 120% Solvabilitas Dana Perusahaan 572.46% 120%

(In million Rupiah) Investment in Government Securities

(In Precentage )

Konvensional Aset Investasi Syarat Realisasi KeteranganPencapaian Batas Tingkat SBN 191,467 20% 22% Terpenuhi

Syariah Aset Investasi Syarat Realisasi KeteranganPencapaian Batas Tingkat SBN 80,591 20% 22% Terpenuhi


1. 12 official meetings of the Board of Commissioners and several ad-hoc meetings as well as meetings with the related

2. Activities of the Audit Committee, Risk Policy Monitoring Committee, Nomination and Remuneration Committee, Good

Corporate Governance Committee.

3. Quite good Evaluation of the Board of Directors’ Performance :

Achievement of premium production with the growth of 1.64% with the achievement of 86.2% of the target set.

There is an increase in the percentage of the net claim burden from 16.79% of the previous year to 20.71% in 2019.

A decrease of commission burden of 18.75% from IDR50.2 billion in 2018 to IDR40.8 billion in 2019.

The ratio of the underwriting results is quite good of 25.85% notwithstanding the decrease of IDR23.5 billion or 16.84%

compared to the previous year.

Increase of investment results to IDR16.61 billion in 2019 compared to IDR12.9 billion in the previous year.

Decrease in the management fee, both in terms of nominal value and percentage, without prejudice to the

performance of the employees with the increasing incentives. In percentage to the gross premium, the management fee

decreases from 31.73% in 2018 to 27.57% in 2019.

Decrease in the total assets and total liabilities of 1.94% and 4.57%, respectively. The total assets and total liabilities in

2019 were IDR857.5 billion and IDR566 billion, respectively.

Increase in equity of 3.60% to be IDR291.4 billion.

Increase of book value per share to be IDR837 per share in 2019 from IDR808 per share in 2018.

4. Change in composition of the Board of Commissioners in 2019.

5. Compliance with the applicable rules and regulations in 2019.

Activities of the Board of Commissioners


1. To well accept the report of the Board of Directors and the results that have been

achieved in the fiscal year of 2019 and approve the Consolidated Financial Position

Statements and the Profit and Loss Statement and the Consolidated Other Comprehensive

Incomes of the Company that have been audited by the Public Accountants Firm of

Mirawati Sensi Idris member of Moore Stephens International Limited for the fiscal year

ended on 31 December 2019, as set out in its report No. 00486/2.1090/AU.1/08/0153

1/1/III/2020 dated 27 March 2020 with an unqualified opinion and accept the report on the

supervision that has been conducted by the Company’s Board of Commissioners.

2. By the receipt of the Company’s activity report and the ratification of the Consolidated

Financial Position Statements and the Consolidated Other Comprehensive Incomes of the

Company for the fiscal year ended on 31 December 2019, it also means to give full release

and discharge (a quit et de charge) the Board of Directors and Board of Commissioners of

the Company for the actions of management and supervision that they conducted during

the fiscal year of 2019 to the extent that those actions of management and supervision are

reflected in the Consolidated Financial Position Statements and the Profit and Loss

Statements and Consolidated Other Comprehensive Incomes of the Company.

Proposals


Determination and approval for the use of

the Company profit for the financial year

ended on December 31, 2019 and

determining the amount of dividend, time

and method of payment.

THIRD AGENDA


Proposed use of Profit 2019

Net Profit of 2019 IDR8,009,060,030

Use of Profit of 2019

1. For Reserve Funds IDR400,453,002

2. For Cash Dividends

348,386,472 x IDR5.7 (Dividend

Payout Ratio 25%)

IDR1,985,802,890

3. For Sign of Profit to Employees

530 x IDR200,000

IDR106,000,000

4. The Rest shall be recorded in the

Remaining Profit

IDR106,000,000


Schedule of Dividend Payments

Cum Trading Dividends in Regular and Negotiation Markets 22 July 2020

Ex Trading Dividends in Regular and Negotiation Markets 23 July 2020

Cum Trading Dividends in Cash Markets 24 July 2020

Ex Trading Dividends in Cash Markets 27 July 2020

Recording Date 24 July 2020

Date of Cash Dividend Payment 12 August 2020


1. To agree to set aside the profit balance as reserve funds about 5% of

the net profit in 2019, amounting to IDR 400,453,002.-

2. To agree to pay dividends to 348,386,472 shares in the amount of IDR

5.7 per share or amounting to IDR 1,985,802,890.

3. To agree to pay the Sign of Profit to 530 certificates in the amount of

IDR 200,000 per certificate or amounting to IDR 106,000,000.

4. To agree to retain the remaining balance amounting to IDR

5,516,804,138 in the profit balance of the Company.

Proposals:


Amendment to the Company's Articles of

Association

FOURTH AGENDA


Background

1. Financial Services Authority Regulation (POJK) Number 15 / POJK.04 / 2020 concerning

Plans for Conducting General Meeting of Shareholders of Public Companies.

2. Amendment to the Company's Articles of Association, especially :

a. Article 18 regarding GMS

b.Article 19 regarding AGMS

c. Article 20 regarding EGMS

d.Article 21 regarding Place of Conduct, Notification, Announcement, Invitation of GMS

e.Article 22 regarding Chairperson and Minutes of the General Meeting of Shareholders

f. Article 23 regarding concerning Quorums, Voting Rights and Decisions

3. Adjustments to the Company's Articles of Association shall be made no later than 18 months from the enactment of the POJK or October 20, 2021


Proposals:

1. approve changes to the articles of association:

a. Article 18 regarding GMS

b. Article 19 regarding AGMS

c. Article 20 regarding EGMS

d. Article 21 regarding Place of Conduct, Notification, Announcement, Invitation of GMS

e. Article 22 regarding Chairperson and Minutes of the General Meeting of Shareholders

f. Article 23 regarding concerning Quorums, Voting Rights and Decisions

2. To give power and authority to the Board of Directors with substitution rights to carry out

any actions necessary related to the resolutions for the agenda of this Meeting in a

Notarial Deed and submit it to the competent institution for its approval and/or receipt of

notification on amendment of the Articles of Association, and to carry out anything

deemed necessary and useful for such purpose without exception, including supplementing

and/or amending the Articles of Association if it is required by the competent institution


Determination of Remuneration for the Members

of the Board of Directors and the Board of

Commissioners

FIFTH AGENDA


1. To give power to the Board of Commissioners of the Company to

determine the amount of the salary and/or other allowances including

incentives/bonus for the Company’s members of the Board of Directors.

2. To determine the amount of the salary and/or other allowances for all

members of the Company’s Board of Commissioners in the maximum

amount of IDR170 (one hundred and seventy) million per month net of

income tax and to give power to the Board of Commissioners of the

Company to determine the amount of the incentives/bonus for all

members of the Company’s Board of Commissioners

Proposals:


Appointment of Public Accounting

Firm and Public Accountant for

Fiscal Year of 2020.

SIXTH AGENDA


1. To appoint the Public Accountants Firm of Mirawati Sensi Idris (MSI) member of

Moore Stephens International Limited and the Public Accountant Ahmad Syakir

who will audit the Financial Statements of the Company for the fiscal year that

will end on 31 December 2020 upon recommendation of the Audit Committee

and to give authority to the Board of Directors to carry out the necessary

actions regarding the appointment of those Public Accountants Firm and Public

Accountant.

2. Give power and authority to the Directors with the right of substitution to take

all necessary actions related to the decision of the agenda of this Meeting, in a

Notarial Deed and submit to the competent authority to obtain approval and /

or receipt of notification of amendments to the Articles of Association, and to

do everything which is deemed necessary and useful for this purpose with none

being excluded, including to make additions and / or changes to the

amendment to the Articles of Association if this is required by the competent

authority

Proposals


Approval of sharia business unit

spin-off work plan

SEVENTH AGENDA


Background

1. Insurance Regulation No. 40 Year 2014, Article 87 Paragraph 1 Insurance

companies are required to separate sharia business units into sharia

insurance companies no later than 10 (ten) years after the promulgation of

the Act;

2. Financial Services Authority Regulation Number 67 / POJK.05 / 2016

concerning Business Licensing and Institutional Insurance Companies, Sharia

Insurance Companies, Reinsurance Companies and Sharia Reinsurance

Companies;


Work Plan of Separation: Method, Stages & Period

Stages Period

Submission of Work Plan for Separation of Sharia Business Unit

By 16 October 2020

Application for Transfer of Portfolios to the FSA By 16 August 2023

Reporting of Portfolio Transfer to the FSA By 16 October 2024

Filing for Revocation of Business Permit to the FSA By 16 October 2024

The separation of the Sharia Business Unit of PT Asuransi Bintang Tbk will be conducted by transferring

all the participation portfolios in the sharia unit to another sharia insurance company that has acquired

its business permit

Stages & Period of Proposal

Method of Separation


1. Approved Sharia Business Unit Separation Work Plan in

accordance with POJK 67/2016 submitted by the Company's

Directors; and

2. Give power and authority to the Directors with the right of

substitution to take all necessary actions related to the

decision of the agenda of this Meeting.

Proposals:


Approving the Company’s Business

Plan for 2019-2021

EIGHTH AGENDA


Fulfillment of POJK 24/2019 concerning Non-Bank

Financial Services Institution Business Plan

The Board of Directors

must communicate the

Business Plan to the

Shareholders or

equivalent and all

organizational levels in

the company.

The company must prepare

and establish the Business

Plan every year and must

submit it to the FSA by 30

November before

commencement of the

Business Plan.

Business Plan


Business Plan 2020 - 2022

Assumption ASBI- Conventional

1. Exchange rate : 1 USD = IDR. 14,900 (Market.Bisnis.com) 2. Inflation rate : About 4% 3. Rate of investment results : 5% per annum 4. Total premiums of New Coverage : IDR235 billion in 2020 & grows 20% in the subsequent

year. 5. Policy discontinuation level : 6% in 2020 and increasing to 10% in the subsequent

year. 6. Gross claim level : 31,32 %

The assumptions used


in million Rupiah

conventional business

Financial Position

Profit & loss



The assumptions used

1. Exchange rate : 1 USD = IDR. 14,900 (Market.bisnis.com) 2. Inflation rate : About 4% 3. Rate of investment results : 5 % per annum 4. Total premiums of New Coverage : IDR1.5 billion in 2020. 5. Policy discontinuation level : 4% in 2020 6. Gross claim level : 55%

Assumptions ASBI- Sharia



In million Rupiah

Sharia business

Profit (loss) Operator

Surplus U/W Dana Tabarru

2020 2021 2022

Kontribusi Peserta 6,599 - -

Beban Klaim 3,794 - -

Pend. Underwriting 806 - -

Business Plan 2020 – 2022 : Spin-off


(In million Rupiah)


operator's financial position

Dana Tabarru financial position

2020 2021 2022

Investasi 24,196 - -

Non Investasi 1,788 - -

TOTAL ASET 25,984 - -

Total Liabilitas 21,751 - -

Total Ekuitas 4,233 - -

Total Liabilitas & Ekuitas 25,984 - -

Sharia business Rencana Bisnis 2020 – 2022 : Spin-off

2020 2021 2022

Investasi 61,492 - -

Non Investasi 55,148 - -

TOTAL ASET 116,640 - -

Total Liabilitas 9,090 - -

Total Ekuitas 107,550 - -

Total Liabilitas & Ekuitas 116,640 - -


Approved the Company's Business Plan for 2020-2022 which was

presented

Proposals:


Closing

By

Chairperson of the Meeting

confidential, unpublished property of bintang. do not ... › download › rups › proxy...

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