UEU Undergraduate 394 Lampiran

PT Asuransi Bina Dana Arta Tbk.

(d/h PT Dharmala Insurance Tbk) Insurance (d/h PT Dharmala Insurance Tbk) Insurance
Head Office Wisma Dharmala Sakti 8th Floor Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Jenderal Sudirman Kav. 32 President Commissioner Effendy Herman President Director Suhanda Wiraatmadja
Jakarta 10220 (million rupiah) Commissioners Thio Gwan Po Micky, Harjono Darto, Directors Herlani Sunardi, Tjiendra Widjaja,
2002 2003 2004 Murniaty Kartono Candra Gunawan, Rudi Rusdianto
Phone (021) 570-8157 (Hunting),
315-0781 Total Assets 153,168 189,837 261,643
Fax (021) 570-8166, 570-8159 Current Assets 66,507 58,732 43,131 Number of Employees 356
E-mail: abda-inswds@abdainsurance.co.id of which
Cash on hand and in banks 11,670 5,756 6,707 No Type of Listing Listing Date Trading Date Number of Shares Total Listed
www.abdainsurance.co.id
Premium receivables 40,803 37,451 28,150
Business General Insurance per Listing Shares
Receivable from reinsurers 13,745 15,271 8,062
Company Status PMDN Non-current Assets 86,661 131,105 218,512 1 First Issue 06-Jul-89 06-Jul-89 900,000 900,000
of which
PT. Asuransi Bina Dana Arta Tbk. Fixed Assets-Net 18,637 18,075 16,739
2 Company Listing 25-Aug-89 25-Aug-89 4,500,000 5,400,000
Profit after tax was down from Rp 15.027 bil- Investment 59,010 99,955 176,047 3 Private Placement 07-Aug-90 07-Aug-90 200,000 5,600,000
lion in 2003 to Rp 8.478 billion in 2004. Underwriting expenses were up Other Assets 7,396 10,984 23,211 4 Right Issue 07-Aug-90 07-Aug-90 3,240,000 8,840,000
from Rp 86.5 billion to Rp 122.2 billion. Liabilities 90,101 113,865 133,303
5 Dividen Shares 06-Oct-93 06-Oct-93 886,000 9,726,000
Established in 1982, PT Asuransi Bina Dana Arta, mem- Current Liabilities 26,698 44,494 57,872 6 Cooperative 06-Oct-93 06-Oct-93 100,000 9,826,000
ber of Dharmala Group, operates in general insurance business, consisting of which 7 Bonus Shares 26-Feb-96 26-Feb-96 7,860,800 17,686,800
Claims payable 11 2,244 10,065 8 Stock Split 16-Dec-96 16-Dec-96 17,686,800 35,373,600
of liablility, health, accident, fire, motor car and marine.
Payable to reinsurers 4,675 5,045 5,266 9 Right Issue 15-Jan-02 06-Feb-02 70,747,200 106,120,800
Non-current Liabilities 63,403 69,372 75,431
10 Bonus Shares 07-Aug-03 07-Aug-03 31,836,240 137,957,040
Shareholders' Equity 63,067 75,972 128,340 11 Right Issue 21-Dec-04 21-Dec-04 137,957,040 275,914,080
Paid-up capital 38,911 48,462 89,849
Paid-up capital Underwriters
in excess of par value 641 401 5,663 PT INDOVEST, PT MERINCORP
Retained earnings 23,516 27,109 32,828
Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Revenue 103,495 125,366 147,804
Stock Price Trading Shares Traded Listed Market
Operating Expenses 81,908 116,877 153,902
Operating Profit (Loss) 21,586 8,490 (6,098) Month High Low Close Frequency Day Volume Value Shares Capitalization
Other Income (Expenses) (6,246) 879 2,682 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
Profit (Loss) before Taxes 15,340 9,368 (3,416) January-04 400 320 400 28 7 368.00 123.00 137,957,040 55,183.00
Profit (Loss) after Taxes 10,331 15,027 8,478 February-04 550 325 550 109 15 1,269.00 589.00 137,957,040 75,876.00
March-04 500 450 500 18 6 217.00 107.00 137,957,040 68,979.00
Revenue Breakdown April-04 600 425 500 26 5 407.00 185.00 137,957,040 68,970.00
Premium Income 169,284 161,111 164,518 May-04 525 425 465 67 9 927.00 442.00 137,957,040 64,150.00
Investment Income (expenses) 3,850 28,555 45,522 June-04 475 350 415 12 4 61.00 26.00 137,957,040 57,252.00
July-04 450 430 430 7 2 65.00 29.00 137,957,040 59,322.00
Expense Breakdown
August-04 0 0 430 0 0 0.00 0.00 137,957,040 59,322.00
Reinsurance Premiums 23,100 29,434 26,841
September-04 450 450 450 3 3 14.00 6.00 137,957,040 62,081.00
Claims Paid 56,740 86,535 122,020
October-04 450 400 400 8 2 35.00 14.00 137,957,040 55,183.00
Others 72,136 68,701 57,418
November-04 400 360 390 38 6 288.00 108.00 137,957,040 53,803.00
Per Share Data (Rp) December-04 400 350 400 71 11 644.00 71.00 275,914,080 110,366.00
Earnings (Loss) per Share 266 310 31 January-05 0 0 400 0 0 0.00 0.00 275,914,080 110,366.00
Equity per Share 1,621 1,568 465 February-05 375 355 365 5 1 102.00 37.00 275,914,080 100,709.00
Dividend per Share n.a 20 n.a March-05 380 360 380 14 6 122.00 44.00 275,914,080 104,847.00
Closing Price 245 325 400 April-05 375 350 375 3 1 17.00 6.00 275,914,080 103,468.00
May-05 375 340 365 5 2 64.00 22.00 275,914,080 100,709.00
Financial Ratios
June-05 365 285 325 24 9 130.00 39.00 275,914,080 89,672.00
PER (x) 0.92 1.05 13.02
PBV (x) 0.15 0.21 0.86
Dividend Payout (%) n.a 6.45 n.a Stock Price and Traded Chart
Dividend Yield (%) n.a 6.15 n.a Stock Price (Rp) Thousand Shares
500 0
Operating Profit Margin (x) 0.21 0.07 n.a
Net Profit Margin (x) 0.10 0.12 0.06 450
0
Expense Ratio (x) 0.48 0.73 0.94
400
Loss Ratio (x) 0.34 0.54 0.74
Solvency Ratio (x) 0.43 0.58 0.93 350 0
ROI (%) 6.74 7.92 3.24

300
ROE (%) 16.38 19.78 6.61 0
250
PER = 10,58x ; PBV = 0,70x (June 2005) 0
200
Financial Year: December 31
Shareholders Public Accountant: Grant Thronton Hendrawinata & Co. (2003); 150 0
ABN AMRO Nominees 80.71% Hendrawinata Gani & Co. (2004)
100
Hongkong and Shanghai Bank 10.76% 0
Yayasan Dana Tunjangan Hari Tua dan 50
Kesejahteraan Bank Ekspor Impor Indonesia 1.02% - -

Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05
Cooperative 0.14%
Public 7.37%
568 Indonesian Capital Market Directory 2005 Institute for Economic and Financial Research 569
(Formerly PT Dharmala Insurance Tbk) Insurance
Head Office Plaza ABDA 27th Floor Summary of Financial Statement

Jl. Jend. Sudirman Kav. 59
Jakarta 12190 (million rupiah)
Phone (021) 5140-1688 (Hunting) 2005 2006 2007
Fax (021) 5140-1697-8 Total Assets 217,519 235,198 270,809
E-mail: Current Assets 36,232 51,299 81,975
abda_ho@abdainsurance.co.id of which
Business General Insurance Cash and Cash Equivalents 5,406 7,691 19,408
Company Status PMA Premium receivables 25,444 40,708 60,644
Financial Performance: The Company booked net profit at Non-current Assets 181,286 183,900 188,834
IDR12.940 billion in 2007, increasing significantly from IDR1.766 of which
billion booked in 2006. The higher net profit was in line with higher Fixed Assets-Net 28,313 28,926 26,212
operational profit at IDR18.973 billion, while last year booked Investment 124,224 128,423 141,583
Other Assets 26,479 24,849 19,052
operational loss at IDR65 million.
Brief History: Established in 1982, PT Asuransi Bina Dana Arta, Liabilities 111,183 121,401 166,060
member of Dharmala Group, operates in general insurance busi- Current Liabilities 32,607 57,599 100,255
ness, consisting of liablility, health, accident, fire, motor car of which
Claims payable 3,199 16,041 5,737
Payable to reinsurers 639 3,558 775
Shareholders' Equity 106,335 113,798 104,750
Paid-up capital 89,849 89,849 89,849
Paid-up capital
in excess of par value 5,649 5,649 5,649
Revenue 153,653 160,868 144,558
Operating Profit (Loss) (14,228) (65) 18,973
Other Income (Expenses) 2,057 2,252 2,990
Profit (Loss) before Taxes (12,172) 2,187 21,963
Profit (Loss) after Taxes (8,396) 1,786 12,940
Revenue Breakdown
Premium Income 173,911 174,643 167,856
Investment Income (expenses) 5,006 4,243 18,828
Expense Breakdown
Claims Paid 103,656 96,477 73,681
Others 56,460 68,777 79,741
Per Share Data (Rp)

Earnings (Loss) per Share (30) 6 47
Equity per Share 385 412 379
Dividend per Share n.a n.a n.a
Closing Price 280 220 220
Financial Ratios
PER (x) (9.21) 34.00 4.69
PBV (x) 0.73 0.53 0.58
Dividend Payout (%) n.a n.a n.a
Dividend Yield (%) n.a n.a n.a
Operating Profit Margin (x) n.a n.a 0.13
Net Profit Margin (x) n.a 0.01 0.09
Loss Ratio (x) 0.60 0.55 0.44
Solvency Ratio (x) 0.67 0.72 0.66
ROI (%) (3.86) 0.76 4.78
ROE (%) (7.90) 1.57 12.35
PER = 0.51x ; PBV = 0.01x (June 2008)

Shareholders Financial Year: December 31
RBS Coutts Bank Ltd., Singapore 37.58% Public Accountant: Hendrawinata Gani & Hidayat
ABN AMRO Nominees 36.12%
The Bank of New York 17.76%
Public 8.54%
652 Indonesian Capital Market Directory 2008

(Formerly PT Dharmala Insurance Tbk) Insurance
Board of Commissioners Board of Directors

President Commissioner Tjan Soen Eng President Director Robert Sutanto
Commissioners Thio Gwan Po Micky, Murniaty Kartono Directors Candra Gunawan, Rudi Rusdianto
Dody Sjachroerodly
Number of Employees 414
No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 06-Jul-89 06-Jul-89 900,000 900,000

2 Company Listing 25-Aug-89 25-Aug-89 4,500,000 5,400,000
3 Private Placement 07-Aug-90 07-Aug-90 200,000 5,600,000
4 Right Issue 07-Aug-90 07-Aug-90 3,240,000 8,840,000
5 Dividen Shares 06-Oct-93 06-Oct-93 886,000 9,726,000
6 Cooperative 06-Oct-93 06-Oct-93 100,000 9,826,000
7 Bonus Shares 26-Feb-96 26-Feb-96 7,860,800 17,686,800
8 Stock Split 16-Dec-96 16-Dec-96 17,686,800 35,373,600
9 Right Issue 15-Jan-02 06-Feb-02 70,747,200 106,120,800
10 Bonus Shares 7-Aug-03 7-Aug-03 31,836,240 137,957,040
11 Right Issue 21-Dec-04 21-Dec-04 137,957,040 275,914,080
Underwriters
PT INDOVEST, PT MERINCORP
Stock Price Shares Traded Trading Listed Market
Month High Low Close Volume Value Frequency Day Shares Capitalization
(Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-07 220 200 220 283.00 59.00 10 2 275,914,080 60,701.00
February-07 220 200 200 25.00 5.00 5 2 275,914,080 55,183.00
March-07 135 135 135 1.00 0.10 1 1 275,914,080 37,248.00
April-07 169 111 160 146.00 20.00 12 3 275,914,080 44,146.00
May-07 161 161 161 12.00 2.00 2 2 275,914,080 44,422.00
June-07 161 161 161 3.00 0.50 1 1 275,914,080 44,422.00
July-07 210 181 210 67.00 12.00 14 4 275,914,080 57,942.00
August-07 210 210 210 1.00 0.20 2 2 275,914,080 57,942.00
September-07 220 210 220 33.00 7.00 3 2 275,914,080 60,701.00
October-07 0 0 220 0.00 0.00 0 2 275,914,080 60,701.00
November-07 0 0 220 0.00 0.00 0 0 275,914,080 60,701.00
December-07 0 0 220 23,294.00 4,658.80 2 1 275,914,080 60,701.00
January-08 0 0 220 99,711.00 19,942.00 2 2 275,914,080 60,701.00
February-08 185 150 185 23.00 4.00 5 4 275,914,080 51,044.00
March-08 199 190 190 5.00 1.00 3 1 275,914,080 52,424.00
April-08 0 0 190 0.00 0.00 0 0 275,914,080 52,424.00
May-08 193 191 193 3.00 1.00 6 3 275,914,080 53,251.00
June-08 325 200 230 30.00 7.00 19 9 275,914,080 63,460.00
Stock Price and Traded Chart

Stock Price (Rp) Thousand Shares
350 200
180
300
160
250 140
200 120
100
150 80
100 60
40
50
20
- -
Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun-
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08
Institute for Economic and Financial Research 653

Asuransi Bina Dana Arta Tbk. ABDA
COMPANY REPORT : JANUARY 2012 As of 31 January 2012
Development Board Individual Index : 175.791
Industry Sector : Finance (8) Listed Shares : 620,806,680
Industry Sub Sector : Insurance (84) Market Capitalization: 478,021,143,600
COMPANY HISTORY SHAREHOLDERS (January 2012)

Established Date : 12-Oct-1982 1. Bnym SA/NV AS Cust Of Bank Of Singapore Limited 116,045,161 : 18.69%
Listing Date : 06-Jul-1989 2. Coutts And Co Ltd. Singapore 103,687,800 : 16.70%
Under Writer IPO : 3. ABN Amro Nominees Singapore Pte Ltd 78,589,204 : 12.66%
PT INDOVEST & PT MERINCORP 4. DBS Bank Ltd Sg-PB Clients 61,679,879 : 9.94%
Securities Administration Bureau : 5. Barclays Bank Plc Hong Kong-Wealth Management 44,031,774 : 7.09%
PT Ficomindo Buana Registrar
Mayapada Tower 10th Fl. Suite 02 B DIVIDEND ANNOUNCEMENT
Jln. Jend. Sudirman Kav. 28 Jakarta 12920 Bonus Cash Cum Ex Recording Payment
Phone : 521-2316, 521-2317 Year Shares Devidend Date Date Date Date F/I
Fax : 521-2320 1990 100.00 25-Jun-90 26-Jun-90 30-Jun-90 04-Jul-90
1992 20.00 23-Jun-93 24-Jun-93 01-Jul-93 02-Aug-93 F
BOARD OF COMMISSIONERS 1993 25.00 19-May-94 20-May-94 30-May-94 30-Jun-94 F
1. Tjan Soen Eng 1994 15.00 12-Jul-95 13-Jul-95 22-Jul-95 22-Aug-95 F
2. Chandra Gunawan *) 1996 5:4 12-Jan-96 15-Jan-96 23-Jan-96 22-Feb-96
3. Murniaty Kartono 1995 60.00 27-Jun-96 28-Jun-96 08-Jul-96 06-Aug-96 F
4. Sarkoro Handajani *) 1996 100.00 09-Jun-97 10-Jun-97 18-Jun-97 16-Jul-97 F
*) Independent Commissioners 1997 300.00 09-Mar-98 10-Mar-98 18-Mar-98 30-Apr-98 I
1998 300.00 15-Jul-99 16-Jul-99 26-Jul-99 23-Aug-99 F
BOARD OF DIRECTORS 1999 10.00 24-Jul-00 25-Jul-00 02-Aug-00 16-Aug-00 F
1. Dody Sjachroerodly 2003 10 : 3 21-Jul-03 22-Jul-03 24-Jul-03 07-Aug-03
2. Eka Listiani Kartono 2002 20.00 21-Jul-03 22-Jul-03 24-Jul-03 07-Aug-03 F
3. Freddy Wijaya 2003 20.00 15-Jul-04 16-Jul-04 20-Jul-04 02-Aug-04 F
4. Jeni Wirjadinata 2007 20.00 24-Jun-08 23-Jun-08 26-Jun-08 10-Jul-08 F
2008 20.00 11-Jun-09 12-Jun-09 16-Jun-09 30-Jun-09 F
AUDIT COMMITTEE 2009 25.00 05-Jul-10 06-Jul-10 08-Jul-10 22-Jul-10 F
1. Sarkoro Handajani
2. Herlani Sunardi ISSUED HISTORY
3. Rudi Rusdianto Listing Trading
Type of Listing Shares Date Date
CORPORATE SECRETARY 1. First Issue 900,000 06-Jul-89 06-Jul-89
Marianty N. Santoso 2. Company Listing 4,500,000 25-Aug-89 25-Aug-89
3. Private Placement 200,000 07-Aug-90 07-Aug-90
HEAD OFFICE 4. Right Issue 3,240,000 07-Aug-90 07-Aug-90
Plaza ABDA 27th Fl. 5. Dividen Shares 886,000 06-Oct-93 06-Oct-93
Jln. Jend. Sudirman Kav. 59, Jakarta 12190 6. Koperasi 100,000 06-Oct-93 -
Phone : (021) 5140-1688 7. Bonus Shares 7,860,800 26-Feb-96 26-Feb-96
Fax : (021) 5140-1698 8. Stock Split 17,686,800 16-Dec-96 16-Dec-96
9. Right Issue 70,747,200 15-Jan-02 06-Feb-02
Homepage : www.abdainsurance.co.id 10. Bonus Shares 31,836,240 07-Aug-03 07-Aug-03
Email : contactus@abdainsurance.co.id 11. Right Issue 137,957,040 21-Dec-04 21-Dec-04
12. Right Issue 344,892,600 27-Apr-11 27-Apr-11
TRADING ACTIVITIES
CLOSING PRICE* AND TRADING VOLUME
Closing Volume Closing Price Freq. Volume Value
Day
ASURANSI BINA DANA ARTA TBK.
Price* JANUARY 2008 - JANUARY 2012 (Mill. Sh) Month High Low Close (X) (Thou. Sh) (Million Rp)
875 7 Jan-08 - - 220 2 99,711 19,942 2
Feb-08 185 150 185 5 23 4 4
Mar-08 199 190 190 3 5 1 1
750 6
Apr-08 - - 190 - - - -
May-08 193 191 193 6 3 1 3
625 5 Jun-08 325 200 230 19 30 7 9
Jul-08 240 220 220 13 269 63 7
Aug-08 220 180 200 10 287 58 7
500 4 Sep-08 200 190 190 9 1,017 193 3
Oct-08 190 190 190 2 498 95 1
Nov-08 - - 190 - - - -
375 3
Dec-08 - - 190 - - - -
Jan-00 - - - - - - -
250 2 Jan-09 - - 190 - - - -
Feb-09 175 175 175 6 382 69 3
Mar-09 175 175 175 1 1 0.1 1
125 1 Apr-09 175 175 175 1 1 0.1 1
May-09 230 200 200 18 1,095 221 9
Jun-09 255 200 200 27 623 132 11
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-09 260 205 220 175 5,421 1,267 18
Aug-09 225 200 210 220 1,702 368 15
Sep-09 235 215 215 111 437 99 8
Oct-09 245 200 200 358 2,730 610 14
CHANGE OF CLOSING PRICE Nov-09 310 215 305 168 2,534 606 13
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Dec-09 350 300 300 59 469 148 9
JANUARY 2008 - JANUARY 2012
Jan-00 - - - - - - -
300% 300%
Jan-10 320 300 300 14 134 40 9
Feb-10 300 295 295 12 187 56 4
250% 250% Mar-10 475 275 455 48 143 48 9
Jakarta Composite Index
Finance Index Apr-10 600 325 335 68 232 98 11
200% Closing Price 200% M 10
May-10 450 335 380 88 497 179 15
Jun-10 450 350 425 285 1,267 512 22
Jul-10 580 350 570 410 3,456 1,477 22
150% 150%
Aug-10 570 400 430 203 972 424 21
Sep-10 455 420 455 73 316 137 14
100% 100% Oct-10 540 450 490 273 2,185 1,044 20
Nov-10 600 460 570 166 864 466 20
50% 50% Dec-10 550 510 520 49 1,013 530 16
Jan-00 - - - - - - -
- -
Jan-11 560 510 560 34 810 427 12
Feb-11 660 550 560 141 699 386 14
Mar-11 650 520 650 292 4,871 2,700 23
-50% -50%
Apr-11 780 400 460 1,943 8,942 4,855 20
May-11 680 455 620 2,818 31,172 17,850 21
-100% -100% Jun-11 670 550 650 730 8,911 5,439 20
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-11 860 640 760 1,031 10,537 7,671 21
Aug-11 800 550 660 1,452 10,924 7,338 19
Sep-11 710 550 620 301 2,824 1,834 19
SHARES TRADED 2008 2009 2010 2011 Jan-12 Oct-11 690 550 670 118 1,191 782 16
Volume (Million Shares) 102 15 11 88 5 Nov-11 790 660 700 323 4,105 2,963 20
Value (Billion Rp) 20 4 5 54 4 Dec-11 770 700 770 115 2,564 1,894 19
Frequency (X) 69 1,144 1,689 9,298 158 Jan-00 - - - - - - -
Days 37 102 183 224 20 Jan-12 770 730 770 158 5,005 3,676 20
Feb-12 - - - - - - -
Price (Rupiah) Mar-12 - - - - - - -
High 325 350 600 860 770 Apr-12 - - - - - - -
Low 150 175 275 400 730 May-12 - - - - - - -
Close 190 300 520 770 770 Jun-12 - - - - - - -
Close* 190 300 520 770 770 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 3.72 3.18 3.17 3.95 3.95 Sep-12 - - - - - - -
PER Industry (X) 16.77 13.41 16.00 10.89 11.48 Oct-12 - - - - - - -
PBV (X) 0.44 0.67 0.73 1.26 1.26 Nov-12 - - - - - - -
Dec-12 - - - - - - -
* Adjusted price after corporate action
Financial Data and Ratios
Public Accountant : Hendrawinata Gani & Hidayat (Member of Grant Thornton International Ltd.) Book End : December
BALANCE SHEET Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011

TOTAL ASSETS AND LIABILITIES
(Million Rp except Par Value) (Billion Rupiah)
Total Investment 141,583 283,208 240,624 665,022 899,179 1,125
Cash on hand and in Banks 19,408 11,815 20,618 12,961 21,901 Assets Liabilities
Premium Receivables 60,644 56,836 98,664 85,741 67,649 900
Reinsurance Receivables 1,763 3,870 13,359 4,903 6,329
Other Receivable 2,372 3,036 2,089 4,937 5,035 675
Fixed Assets 28,199 35,782 33,452 32,119 50,656

450
Other Assets 1,320 1,233 1,361 1,698 1,225
Total Assets 270,809 421,304 518,268 845,779 1,090,404
225
Growth (%) 55.57% 23.02% 63.19% 28.92%
-
Claims payable 5,737 11,369 17,529 14,390 16,770 2007 2008 2009 2010 Sep-11
Reinsurance payables 775 26,350 2,399 2,651 4,931
Taxes payable 929 1,618 2,994 6,358 1,466
Total Liabilities 166,060 302,494 394,265 648,320 711,814 TOTAL EQUITY (Billion Rupiah)
Growth (%) 82.16% 30.34% 64.44% 9.79% 379
379
Authorized Capital 193,847 193,847 193,847 193,847 193,847

Paid up Capital 89,849 89,849 89,849 89,849 193,317
303
Paid up Capital (Shares) 276 276 276 276 621

227
197
Par Value 500 & 300 500 & 300 500 & 300 500 & 300 500 & 300
Retained Earnings 9,252 47,727 68,264 106,662 171,442 151
119 124
105
Total Equity 104,750 118,810 124,003 197,459 378,591
Growth (%) 13.42% 4.37% 59.24% 91.73% 76
2007 2008 2009 2010 Sep-11

INCOME STATEMENTS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011
Underwriting Revenues 155,657 251,870 336,275 425,993 401,258
Growth (%) 61.81% 33.51% 26.68%
TOTAL REVENUES (Billion Rupiah)
Underwriting Expenses 107,110 187,242 266,805 333,380 294,688 426

426
401
Underwriting Income 48,547 64,628 69,470 92,613 106,571
336
Income from Investments 18,828 15,376 21,971 35,516 34,493 341
Operating Expenses 48,402 64,125 63,130 79,990 64,713

252
Income from Operating 18,973 15,879 28,310 48,139 76,351 256
Growth (%) -16.31% 78.29% 70.04%

170
156
Others Income 2,990 4,120 2,750 5,635 3,750

85
Income before Tax 21,963 19,999 31,061 53,774 80,101

Tax 9,024 5,912 5,006 6,477 -199 -
Net Income 12,940 14,087 26,055 47,297 90,723 2007 2008 2009 2010 Sep-11
Growth (%) 8.87% 84.95% 81.52%
NET INCOME (Billion Rupiah)

RATIOS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011 91
Dividend (Rp) 20.00 20.00 25.00 - - 91
EPS (Rp) 46.90 51.06 94.43 171.42 146.14

BV (Rp) 379.65 430.61 449.42 715.65 609.84
73
DAR (X) 0.61 0.72 0.76 0.77 0.65

54
47
DER(X) 1.59 2.55 3.18 3.28 1.88
ROA (%) 8.11 4.75 5.99 6.36 7.35
26
36
ROE (%) 20.97 16.83 25.05 27.23 21.16

13 14
OPM (%) 12.19 6.30 8.42 11.30 19.03 18
NPM (%) 8.31 5.59 7.75 11.10 22.61

Payout Ratio (%) 42.65 39.17 26.47 - -
-
Yield (%) 9.09 10.53 8.33 - - 2007 2008 2009 2010 Sep-11
PT Asuransi Harta Aman Pratama Tbk. Insurance PT Asuransi Harta Aman Pratama Tbk. Insurance
Head Office Gedung AHAP Insurance Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Balikpapan Raya No. 6 President Commissioner Padmo Sumasto, SH President Director Sunyata Wangsadarma, MA
Jakarta 10130 (million rupiah) Commissioner Ardi Kusuma Directors Susanto Kurnia, Eng Tjiang, SE
Phone (021) 634-8760 (Hunting) 2002 2003 2004
Fax (021) 6386-4545, 6386-4480, Total Assets 30,565 32,132 35,409 Number of Employees 80
384-5352 Current Assets 7,585 11,353 12,474
of which
E-mail: harta@asuransi-harta.co.id
Cash on hand and in banks 1,925 1,581 2,501
Homepage: www.asuransi-harta.co.id Receivable from reinsurers 518 2,307 1,411
Business Insurance Premium receivables 3,758 5,914 7,841
Company Status PMDN Non-current Assets 22,980 20,779 22,934
of which No Type of Listing Listing Date Trading Date Number of Shares Total Listed
PT. Asuransi Harta Aman Pratama Tbk. Fixed Asset Net 2,504 2,320 5,284 per Listing Shares
Operating profit was down from Rp 2.830 bil- Deffered Tax Assets 184 404 510
lion in 2003 to Rp 1.236 billion in 2004. Net profit also down from Rp Investment 18,963 17,288 16,072 1 First Issue 14-Sep-90 14-Sep-90 1,000,000 1,000,000
9.993 billion to Rp 9.214 billion. Other Assets 1,329 768 1,067 2 Company Listing 01-Mar-93 01-Mar-93 3,000,000 4,000,000
Founded on May 28 1982, the company was granted ap- Liabilities 9,443 9,151 10,907 3 Bonus Shares 01-Mar-93 01-Mar-93 2,000,000 6,000,000
proval by the Minster of Justice via Ministerial Decree No. C2-1325-HT01- Current Liabilities 1,982 3,030 3,799 4 Stock Split 02-Oct-00 02-Oct-00 6,000,000 12,000,000
01 TH.82, dated September 21 1982, and was issued Operating License of which 5 Stock Split 15-Sep-03 15-Sep-03 108,000,000 120,000,000
Payable to reinsurers 898 837 1,688
No. KEP/633/MD/1983 by the Minster of Finance on February 11 the 6 Stock Devidend 19-Sep-03 19-Sep-03 20,000,000 140,000,000
Taxes payable 120 93 350
following year. Its operations in the damage insurance business include dam- Accrued expenses 245 512 841 7 Bonus Shares 29-Jun-04 29-Jun-04 120,000,000 260,000,000
age reinsurance. The company was set up by the founders of the Harapan Non-current Liabilities 7,461 6,121 7,108
Group. This conglomerate initially acted as the sole Indonesian agent for Shareholders' Equity 21,121 22,981 24,502 Underwriters
sales of Yamaha Motor products from Japan, but rapidly expanded its op- Paid-up capital 6,000 7,000 13,000 PT INDOVEST, PT Ficorinvest
erations to other Asian countries, notably Singapore and Hong Kong. The Paid-up capital
Harapan Group diversified not only into the currency exchange business, in excess of par value 1,250 6,250 250 Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
but also into international trade, industry, and property development. The Stock Price Trading Shares Traded Listed Market
group also controlled two financial institutions, PT Bank Harapan Sentosa Revenue 16,698 22,390 24,597 Month High Low Close Frequency Day Volume Value Shares Capitalization
(Bank BHS) and PT Bank Pasar Gunung Kencana (Bank Guna), both of Operating Expenses 15,203 19,559 23,361 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
which have since gone into liquidation. Its expertise in the insurance busi-
Operating Profit 1,495 2,830 1,236 January-04 570 245 305 750 16 27,515.00 8,064.00 140,000,000 42,700.00
Other Income (Expenses) 725 187 775 February-04 395 275 275 2 2 1.00 0.34 140,000,000 38,500.00
ness was gained from technical assistance provided by Asia Insurance Co. Profit before Taxes 2,219 3,017 2,011 March-04 315 245 255 5,532 20 96,175.00 2,662,607.00 140,000,000 35,700.00
Ltd. of Hong Kong from the time the company was first established in Profit after Taxes 2,074 3,237 2,021 April-04 270 220 220 8,943 19 160,879.00 38,797.00 140,000,000 30,800.00
1983 up until the end of 1998. Since 1989, the company has been run May-04 225 180 210 74 17 1,736.00 362.00 140,000,000 29,400.00
Revenue Breakdown
exclusively by Indonesian insurance professionals. Having made a share of- June-04 245 65 70 10,595 21 234,032.00 50,754.00 260,000,000 18,200.00
Premium Income 20,590 26,081 32,489
fering on the Jakarta and Surabaya stock exchanges in 1990, eight years July-04 80 70 70 270 20 26,433.00 1,579.00 260,000,000 18,200.00
Investment Income 1,653 1,484 1,674
August-04 80 65 65 115 18 4,333.00 304.00 260,000,000 16,900.00
later the companyÕs founders sold a portion of their shares to local and September-04 80 65 75 56 13 1,958.00 147.00 260,000,000
Expense Breakdown 19,500.00
foreign investors. At the 1998 General Meeting of Shareholders, the com- Commissions 4,946 6,648 8,128 October-04 100 80 90 429 21 82,452.00 6,308.00 260,000,000 23,400.00
pany changed its to PT Assuransi Harta Aman Pratama Tbk (PT AHAP Reinsurance Premiums 4,137 6,639 9,159 November-04 105 85 100 197 17 23,925.00 2,277.00 260,000,000 26,000.00
Tbk). Claims Paid 4,500 5,574 8,783 December-04 115 90 115 138 17 7,796.00 790.00 260,000,000 29,900.00
Others 7,165 5,874 8,857 January-05 105 100 100 26 12 867.00 87.00 260,000,000 26,000.00
February-05 105 90 95 46 10 7,164.00 726.00 260,000,000 24,700.00
Per Share Data (Rp)
March-05 110 95 100 74 12 4,048.00 408.00 260,000,000 26,000.00
Earnings per Share 173 23 8
April-05 125 100 125 161 15 17,952.00 2,044.00 260,000,000 32,500.00
Equity per Share 1,760 164 94
May-05 125 105 115 48 9 3,453.00 3,960.00 260,000,000 29,900.00
Dividend per Share 68 20 1
June-05 115 70 115 16 7 250.00 22.00 260,000,000 29,900.00
Closing Price 2,675 260 115
Financial Ratios Stock Price and Traded Chart

PER (x) 15.48 11.24 14.79 Stock Price (Rp) Thousand Shares
PBV (x) 1.52 1.58 1.22
450 12
Dividend Payout (%) 39.34 86.49 12.86
Dividend Yield (%) 2.54 7.69 0.87 400
10
Operating Profit Margin (x) 0.09 0.13 0.05 350
Net Profit Margin (x) 0.12 0.14 0.08

300 8
Loss Ratio (x) 0.22 0.21 0.27 250
Solvency Ratio (x) 1.28 1.18 1.05 6
Investment to Total Assets Ratio (x) 0.08 0.07 0.15 200
ROI (%) 6.79 10.07 5.71

150 4
ROE (%) 9.82 14.09 8.25
100
Shareholders PER = 14,79x ; PBV = 1,22x (June 2005) 2
50
PT Lautan Dana Securindo 30.49% Financial Year: December 31
UBS_AG, Singapore UBS Equitas 28.93% Public Accountant: Drs. Johan, Malonda Astika & Co. - -
Reksa Danasupra Maxima 6.13% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 34.45%
PT Asuransi Harta Aman Pratama Tbk. Insurance
Head Office Gedung AHAP Insurance Summary of Financial Statement

Jl. Balikpapan Raya No. 6
Phone (021) 634-8760 (Hunting) 2005 2006 2007
Fax (021) 6386-4545, 6386-4480 Total Assets 42,255 42,030 49,503
E-mail: harta@asuransi-harta.co.id Current Assets 19,525 18,434 27,376
of which
Homepage:
Cash and Cash Equivalents 3,945 2,848 6,748
www.asuransi-harta.co.id Receivable from reinsurers 668 1,824 2,218
Business Insurance Premium receivables 14,329 13,504 18,206
Company Status PMDN Non-current Assets 22,730 23,596 22,127
of which
Financial Performance: The Company booked net profit at Fixed Asset Net 5,534 5,075 5,084
IDR1.309 billion in 2007, decreasing from IDR2.157 billion in 2006. Deffered Tax Assets 686 900 1,238
Investment 15,693 16,541 14,307
The lower net profit was in line with the higher operational ex- Other Assets 816 1,080 1,157
penses from IDR31.426 billion to IDR43.591 billion.
Brief History: Founded on May 28 1982, the company was Liabilities 15,273 13,635 20,584
Current Liabilities 7,369 4,400 5,642
granted approval by the Minster of Justice via Ministerial Decree of which
No. C2-1325-HT01-01 TH.82, dated September 21 1982, and was Payable to reinsurers 4,647 1,364 356
issued Operating License No. KEP/633/MD/1983 by the Minster Taxes payable 485 139 125
of Finance on February 11 the following year. Its operations in the Accrued expenses 35 39 70
damage insurance business include damage reinsurance. The com- Non-current Liabilities 7,904 9,235 14,942
pany was set up by the founders of the Harapan Group. This con- Shareholders' Equity 26,982 28,395 28,919
glomerate initially acted as the sole Indonesian agent for sales of Paid-up capital 13,000 13,000 15,500
Paid-up capital
Yamaha Motor products from Japan, but rapidly expanded its
in excess of par value 250 250 n.a
operations to other Asian countries, notably Singapore and Hong Retained earnings 13,732 15,145 13,419
Kong. The Harapan Group diversified not only into the currency
Revenue 28,979 33,390 43,650
exchange business, but also into international trade, industry, and
property development. The group also controlled two financial Operating Profit 2,092 1,964 58
institutions, PT Bank Harapan Sentosa (Bank BHS) and PT Bank Other Income (Expenses) 819 315 913
Pasar Gunung Kencana (Bank Guna), both of which have since Profit before Taxes 2,911 2,279 971
gone into liquidation. Its expertise in the insurance business was Profit after Taxes 2,720 2,157 1,309
gained from technical assistance provided by Asia Insurance Co. Revenue Breakdown
Ltd. of Hong Kong from the time the company was first estab- Premium Income 44,189 45,737 54,155
lished in 1983 up until the end of 1998. Since 1989, the company Investment Income 848 1,074 897
has been run exclusively by Indonesian insurance professionals. Expense Breakdown
Having made a share offering on the Jakarta and Surabaya stock Commissions 8,601 11,147 18,551
exchanges in 1990, eight years later the company’s founders sold Reinsurance Premiums 15,449 13,209 7,609
Claims Paid 8,308 9,881 13,150
a portion of their shares to local and foreign investors. At the 1998 Others 10,579 10,610 15,685
General Meeting of Shareholders, the company changed its to PT
Assuransi Harta Aman Pratama Tbk (PT AHAP Tbk). Per Share Data (Rp)
Dividend per Share 3 3
Financial Ratios
PER (x) 12.90 10.85 53.29
PBV (x) 1.30 0.82 2.41
Dividend Payout (%) 28.67 36.16 0.00
Dividend Yield (%) 2.22 3.33 0.00
Operating Profit Margin (x) 0.07 0.06 0.00

Loss Ratio (x) 0.19 0.22 0.24
Investment to Total Assets Ratio (x) 0.13 0.12 0.10
ROI (%) 6.44 5.13 2.64
ROE (%) 10.08 7.60 4.53
Shareholders
PT Asuransi Central Asia 51.00% PER = 206.17x ; PBV = 2.09x (June 2008)
Kuan Hay Lin 8.30%
Public Accountant: Drs. Johan, Malonda Astika & Rekan (2006);
Tan Kin Lian 7.74% Doli, Bambang, Sudarmadji & Dadang (2007)
Tan Kah Ho 5.68%
Public 27.28%

PT Asuransi Harta Aman Pratama Tbk. Insurance

President Commissioner Teddy Hailamsah President Director Sunyata Wangsadarma, MA
Commissioners Budi Santoso Tanuwibowo, Hendra Lukman Directors Bayu Widdhisiadji, Eng Tjiang, SE
per Listing Shares
1 First Issue 14-Sep-90 14-Sep-90 1,000,000 1,000,000

2 Company Listing 01-Mar-93 01-Mar-93 3,000,000 4,000,000
3 Bonus Shares 01-Mar-93 01-Mar-93 2,000,000 6,000,000
4 Stock Split 02-Oct-00 02-Oct-00 6,000,000 12,000,000
5 Stock Split 15-Sep-03 15-Sep-03 108,000,000 120,000,000
6 Stock Devidend 19-Sep-03 19-Sep-03 20,000,000 140,000,000
7 Banus Shares 29-Jun-04 29-Jun-04 120,000,000 260,000,000
8 Banus Shares 3-Aug-07 3-Aug-07 50,000,000 310,000,000
Underwriters
PT INDOVEST, PT Ficorinvest
January-07 125 95 105 2,603.00 300.00 39 8 260,000,000.00 27,300.00
February-07 145 116 125 5,344.00 692.00 125 11 260,000,000.00 32,500.00
March-07 135 120 131 6,208.00 799.00 149 17 260,000,000.00 34,060.00
April-07 315 130 255 101,242.00 15,409.00 746 18 260,000,000.00 66,300.00
May-07 590 240 405 65,587.00 28,100.00 2299 19 260,000,000.00 105,300.00
June-07 445 235 355 31,017.00 11,685.00 2023 19 260,000,000.00 92,300.00
July-07 385 240 250 10,289.00 3,350.00 742 22 260,000,000.00 65,000.00
August-07 250 140 199 6,658.00 1,412.00 269 21 310,000,000.00 61,690.00
September-07 355 161 270 22,968.00 6,691.00 1,263 17 310,000,000.00 83,700.00
October-07 315 240 245 6,981.00 1,910.00 730 17 310,000,000.00 75,950.00
November-07 255 165 190 2,636.00 541.00 124 20 310,000,000.00 58,900.00
December-07 225 175 225 2,909.00 569.00 138 14 310,000,000.00 69,750.00
January-08 210 125 189 1,188.00 191.00 72 16 310,000,000.00 58,590.00
February-08 171 135 152 722.00 107.00 38 12 310,000,000.00 47,120.00
March-08 155 100 135 747.00 93.00 98 14 310,000,000.00 41,850.00
April-08 145 100 108 592.00 62.00 76 12 310,000,000.00 33,480.00
May-08 150 101 140 333.00 45.00 67 14 310,000,000.00 43,400.00
June-08 195 105 195 253.00 36.00 33 11 310,000,000.00 60,450.00
Stock Price (Rp) Million Shares

500 25
450
400 20
350
300 15
250
200 10
150
100 5
50
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Asuransi Harta Aman Pratama Tbk. AHAP

Established Date : 28-May-1982 1. PT Asuransi Central Asia 306,792,512 : 61.36%
Listing Date : 14-Sep-1990 2. Tan Kin Lian & Associates Pte. Ltd. 39,192,072 : 7.84%
Under Writer IPO : 3. Tan Kah Ho 27,325,631 : 5.47%
PT Buanamas Investindo
PT Credit Lyonnais Capital Indonesia DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Cum Ex Recording Payment
PT Indovest Securities Year Shares Devidend Date Date Date Date F/I
PT Mutual Int Finance 1990 85.00 18-Jul-91 19-Jul-91 26-Jul-91 09-Aug-91 F
PT Danamon Sekuritas 1991 135.00 16-Jul-92 17-Jul-92 24-Jul-92 21-Aug-92 F
Securities Administration Bureau : 1993 2 :1 30-Dec-92 04-Jan-93 11-Jan-93 08-Feb-93
PT Datindo Entrycom 1992 65.00 15-Jul-93 16-Jul-93 23-Jul-93 23-Aug-93 F
Wisma Sudirman - Puri Datindo 1993 75.00 14-Jul-94 15-Jul-94 22-Jul-94 22-Aug-94 F
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220 1994 75.00 19-Jul-95 20-Jul-95 28-Jul-95 28-Aug-95 F
Phone : 570-9009 1995 168.00 17-Jul-96 18-Jul-96 26-Jul-96 23-Aug-96 F
Fax : 570-9026 1996 204.00 23-Jul-97 24-Jul-97 01-Aug-97 01-Sep-97 F
1997 30.00 20-Jul-98 21-Jul-98 29-Jul-98 28-Aug-98 F
BOARD OF COMMISSIONERS 1998 100.00 19-Jul-99 20-Jul-99 28-Jul-99 26-Aug-99 F
1. Teddy Hailamsah 1999 75.00 06-Jul-00 07-Jul-00 17-Jul-00 20-Jul-00 F
2. Bambang Heryanto *) 2000 70.00 04-Jul-01 05-Jul-01 10-Jul-01 24-Jul-01 F
3. Budi S. Tanuwibowo *) 2001 150.00 09-Jul-02 10-Jul-02 15-Jul-02 29-Jul-02 F
4. Pardjo 2003 6:1 13-Jun-03 16-Jun-03 18-Jun-03 01-Jul-03
*) Independent Commissioners 2002 150.00 13-Jun-03 16-Jun-03 18-Jun-03 02-Jul-03 F
2003 20.00 15-Jun-04 16-Jun-04 18-Jun-04 29-Jun-04 F
BOARD OF DIRECTORS 2003 6:7 15-Jun-04 16-Jun-04 18-Jun-04 29-Jun-04 F
1. Sunyata Wangsadharma 2005 1.00 05-Jul-05 06-Jul-05 08-Jul-05 22-Jul-05
2. Eng Tjiang 2005 3.00 11-Jul-06 12-Jul-06 14-Jul-06 28-Jul-06 F
3. Sutjianta 2006 3.00 17-Jul-07 18-Jul-07 20-Jul-07 03-Aug-07 F
2009 7.00 22-Jun-10 23-Jun-10 25-Jun-10 09-Jul-10 F
AUDIT COMMITTEE 2010 5.00 23-Jun-11 24-Jun-11 28-Jun-11 13-Jul-11 F
1. Budi S. Tanuwibowo
2. Bolim Handaya ISSUED HISTORY
3. Sri Hadiah Watie Listing Trading
CORPORATE SECRETARY 1. First Issue 1,000,000 14-Sep-90 14-Sep-90
Sutjianta 2. Company Listing 3,000,000 01-Mar-93 01-Mar-93
3. Bonus Shares 2,000,000 01-Mar-93 01-Mar-93
HEAD OFFICE 4. Stock Split 6,000,000 02-Oct-00 02-Oct-00
Jln. Balikpapan Raya No. 6 5. Stock Split 108,000,000 15-Sep-03 15-Sep-03
Jakarta 10130 6. Stock Dividend 20,000,000 19-Sep-03 19-Sep-03
Phone : (021) 634-8760 7. Bonus Shares 120,000,000 29-Jun-04 29-Jun-04
Fax : (021) 6386-4480, 6386-4545 8. Bonus Shares 50,000,000 03-Aug-07 03-Aug-07
9. Right Issue 190,000,000 19-Dec-08 19-Dec-08
Homepage : www.asuransi-harta.co.id
Email : harta@asuransi-harta.co.id; sutjianta@gmail.com
TRADING ACTIVITIES
Day
ASURANSI HARTA AMAN PRATAMA TBK.
245 7 Jan-08 210 125 189 72 1,188 191 16
Feb-08 171 135 152 38 722 107 12
Mar-08 155 100 135 98 747 93 14
210 6
Apr-08 145 101 108 76 592 62 12
May-08 150 101 140 67 333 45 14
175 5 Jun-08 195 105 195 33 253 36 11
Jul-08 170 100 109 212 3,014 341 14
Aug-08 108 97 104 45 684 69 7
140 4 Sep-08 121 108 118 20 148 16 3
Oct-08 107 50 55 113 3,374 210 11
Nov-08 67 50 67 173 29,858 1,504 20
105 3
Dec-08 95 61 86 86 35,839 2,846 16
Jan-00 - - - - - - -
70 2 Jan-09 96 50 52 18 98 6 6
Feb-09 52 50 51 8 25 1 4
Mar-09 67 67 67 12 559 26 5
35 1 Apr-09 80 60 80 8 159 10 6
May-09 105 66 70 20 422 32 9
Jun-09 87 64 76 49 260 18 6
Aug-09 101 76 101 15 378 34 7
Sep-09 110 87 96 128 1,168 108 8
Oct-09 115 80 80 28 125 10 9
CHANGE OF CLOSING PRICE Nov-09 103 82 90 58 721 65 12
Jan-00 - - - - - - -
125% 125%
Jan-10 115 88 88 21 109 10 8
Feb-10 110 83 90 68 745 63 16
100% Jakarta Composite Index 100%
Mar-10 119 90 115 91 1,163 135 15
Finance Index
Closing Price Apr-10 149 105 145 10 273 30 6
75% 75%
M 10
May-10 220 150 210 18 77 15 9
Jun-10 240 96 105 81 1,268 134 17
50% 50%
Jul-10 120 105 105 56 934 98 15
Aug-10 121 100 105 175 1,280 128 14
25% 25%
Sep-10 135 105 113 127 1,661 208 15
Oct-10 135 106 115 91 2,094 269 16
- - Nov-10 118 100 103 118 5,053 511 11
Dec-10 147 101 125 367 2,468 292 15
-25% -25% Jan-00 - - - - - - -
Jan-11 140 91 101 40 307 38 11
-50% -50% Feb-11 120 101 118 55 445 46 12
Mar-11 134 110 127 104 641 82 11
-75% -75% Apr-11 145 112 134 921 3,761 495 18
May-11 150 126 147 178 661 91 19
-100% -100% Jun-11 250 130 194 1,007 9,977 2,060 20
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-11 205 180 194 128 428 82 16
Aug-11 210 180 199 111 200 39 13
Sep-11 199 176 176 28 34 6 8
SHARES TRADED 2008 2009 2010 2011 Jan-12 Oct-11 191 135 191 97 220 34 13
Volume (Million Shares) 77 27 17 27 1 Nov-11 191 164 164 156 217 39 9
Value (Billion Rp) 6 2 2 5 0.14 Dec-11 215 161 200 725 9,917 2,046 14
Frequency (X) 1,033 499 1,223 3,550 60 Jan-00 - - - - - - -
Days 150 93 157 164 15 Jan-12 215 189 195 60 751 144 15
Feb-12 - - - - - - -
High 210 115 240 250 215 Apr-12 - - - - - - -
Low 50 50 83 91 189 May-12 - - - - - - -
Close 86 114 125 200 195 Jun-12 - - - - - - -
Close* 86 114 125 200 195 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 16.77 7.83 6.64 16.09 15.69 Sep-12 - - - - - - -
PBV (X) 0.93 1.08 1.07 1.59 1.55 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : Doli, Bambang, Sudarmadji & Dadang (Member of BKR International) Book End : December

Total Investment 14,307 41,063 58,739 56,630 62,575 138
Other Receivable 204 373 215 200 418 83
Fixed Assets 5,084 5,507 5,318 5,682 7,290

55
Other Assets 1,157 1,291 879 3,210 3,087
Total Assets 49,503 80,173 100,770 126,550 128,621
28
Growth (%) 61.95% 25.69% 25.58% 1.64%
-
Reinsurance payables 356 2,890 2,980 5,630 3,727
Taxes payable 125 408 193 613 128
Growth (%) 63.75% 42.36% 41.76% -3.61% 63
63
59
Authorized Capital 50,000 100,000 100,000 100,000 100,000 53
46
Paid up Capital 15,500 25,000 25,000 25,000 25,000
50

38
Par Value 50 50 50 50 50 29
Total Equity 28,919 46,466 52,786 58,528 63,055

Growth (%) 60.68% 13.60% 10.88% 7.73% 13
2007 2008 2009 2010 Sep-11

Growth (%) 24.96% 48.16% 47.35%

117

Income from Investments 897 2,431 4,372 3,803 950 93
79
Income from Operating 58 2,452 5,921 8,423 3,286 70
53
Growth (%) 4113.72% 141.45% 42.27%
43
47
27
Others Income 913 140 1,398 1,223 296
23
Income before Tax 971 2,592 7,319 9,646 3,582

Tax -338 28 42 233 17 -
Net Income 1,309 2,565 7,277 9,413 4,661 2007 2008 2009 2010 Sep-11
Growth (%) 95.94% 183.74% 29.35%

RATIOS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011 9.41
Dividend (Rp) - - 7.00 5.00 - 9
EPS (Rp) 4.22 5.13 14.55 18.83 9.32 7.28

BV (Rp) 93.29 92.93 105.57 117.06 126.11
8
DAR (X) 0.42 0.42 0.48 0.54 0.51

4.66
6
DER(X) 0.71 0.73 0.91 1.16 1.04

ROA (%) 1.96 3.23 7.26 7.62 2.78 4
2.56
ROE (%) 3.36 5.58 13.87 16.48 5.68
OPM (%) 0.14 4.59 7.48 7.22 12.05 2 1.31
NPM (%) 3.06 4.80 9.19 8.07 17.09

Payout Ratio (%) - - 48.09 26.56 -
-
Yield (%) - - 6.14 4.00 - 2007 2008 2009 2010 Sep-11

PT Asuransi Bintang Tbk. Insurance PT Asuransi Bintang Tbk. Insurance
Head Office Jl R.S Fatmawati No. 32 Summary of Financial Statement Board of Commissioners Board of Directors
Jakarta Selatan 12430 President Commissioner Soedarpo Sastrosatomo President Director Ir. anti Suliyanto
Phone (021) 7590-2777 (Hunting) (million rupiah) Directors Djunaidi Mahari, SE, Andrus Roestam Moenaf,
Commissioners Ir. Bahder Munir Sjamsoeddin, MBA,
2002 2003 2004
Fax (021) 765-6287, 7590-2555 Amir Abadi Jusuf, SE, MAcc Hotben Nainggolan, SE
E-mail: bintang@asuransibintang.com Total Assets 194,950 192,248 165,895 Indraningsih Wibowo, Angger P. Yuwono
http://www.asuransibintang.com Current Assets 72,053 52,193 44,495 Number of Employees 320
of which
Business General Insurance
Company Status PMDN Premium receivables 37,538 22,625 24,754
PT. Asuransi Bintang Tbk Others receivable 3,500 3,526 2,369
Net premium decreased from Rp 119.3 billion Non-current Assets 122,896 140,055 121,400
in 2003 to Rp 85.3 billion in 2004. Net profit was down significantly from of which No Type of Listing Listing Date Trading Date Number of Shares Total Listed
Rp 5.383 billion to Rp 1.933 billion. Fixed Assets Net 35,011 36,703 34,660 per Listing Shares
PT Asuransi Bintang Tbk was established on March 17, Deffered Tax Assets-Net 2,899 3,567 2,222
Investment 83,578 97,190 80,570 1 First Issue 29-Nov-89 29-Nov-89 1,000,000 1,000,000
1955 by several prominent figures who had been actively involved in the Other Assets 1,409 2,596 3,949 2 Company Listing 13-Apr-94 13-Apr-94 3,600,000 4,600,000
struggle for independence. Those founder were Idham, Soedarpo 3 Stock Split 13-Oct-97 13-Oct-97 4,600,000 9,200,000
Sastrosatomo, Late Wibowo, Late Pang Lay Kim, Ali Algadri, and Roestam Liabilities 118,540 114,067 88,166
Current Liabilities 49,521 30,123 37,800 4 Bonus Shares 14-Oct-97 14-Oct-97 13,800,000 23,000,000
Moenaf. They established an insurance company whilst the economic ac- of which 5 Bonus Shares 01-Nov-00 01-Nov-00 57,499,994 80,499,994
tivities were under the domination of foreigners and six month later they Claim payable 12,560 4,535 8,017
founded Bank Niaga. The company became a public company at the end of Payable to reinsurers 22,567 12,556 13,787
1989. BINTANG has now consolidated it self within the highly competi- Non-current Liabilities 69,019 83,944 50,366
tive Insurance business in Indonesia. With a new profile as a publicly- owned Shareholders' Equity 76,410 78,181 77,729 Underwriter
corporation since 1989, Asuransi Bintang has spread its wing to provide Paid-up capital 40,250 40,250 40,250 PT FINCONESIA
service through 11 branch office and 8 Representative Offices, with the Paid-up capital
support of 311 employees. The company entered the 21 in excess of par value 50 50 50 Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Revenue 130,071 128,076 93,453 Month High Low Close Frequency Day Volume Value Shares Capitalization
Operating Expenses 121,167 124,985 94,418 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
Operating Profit (Loss) 8,904 3,090 (965) January-04 405 365 400 236 16 2,874.00 1,106.00 80,499,994
Other Income (Expenses) 996 1,981 4,244 32,200.00
February-04 400 365 365 67 10 838.00 320.00 80,499,994 29,382.00
Profit before Taxes 9,899 5,072 3,279 March-04 400 360 380 43 11 610.00 231.00 80,499,994
Profit after Taxes 11,372 5,383 1,933 30,590.00
April-04 395 365 365 40 12 508.00 192.00 80,499,994 29,382.00
Revenue Breakdown May-04 395 325 325 33 10 549.00 193.00 80,499,994 26,162.00
Premium Income 235,552 196,003 159,739 June-04 375 330 375 8 4 71.00 25.00 80,499,994 30,187.00
Investment Income 2,064 8,771 8,107 July-04 395 350 395 53 11 729.00 280.00 80,499,994 31,797.00
August-04 395 360 370 96 16 1,477.00 562.00 80,499,994 29,785.00
Expenses Breakdown September-04 395 340 395 689 17 15,387.00 5,652.00 80,499,994 31,797.00
Commissions 31,010 28,921 18,105 October-04 435 380 380 105 12 1,813.00 746.00 80,499,994 30,590.00
Reinsurance Premiums 115,525 75,787 90,429 November-04 385 365 380 43 6 1,042.00 392.00 80,499,994 30,590.00
Claims paid 61,184 66,784 41,683 December-04 475 375 475 100 13 2,026.00 840.00 80,499,994 38,237.00
Others 36,953 28,369 50,666 January-05 430 385 385 11 7 226.00 88.00 80,499,994 30,992.00
Per Share Data (Rp) February-05 400 370 380 5 4 56.00 21.00 80,499,994 30,590.00
Earnings per Share 141 67 24 March-05 450 385 435 41 11 952.00 422.00 80,499,994 35,017.00
Equity per Share 949 971 966 April-05 480 435 470 47 13 898.00 404.00 80,499,994 37,835.00
Dividend per Share 45 30 20 May-05 660 480 650 64 15 828.00 471.00 80,499,994 52,325.00
Closing Price 300 370 475 June-05 690 640 690 26 5 773.00 489.00 80,499,994 55,545.00
Financial Ratios Stock Price and Traded Chart

PER (x) 2.12 5.53 19.78
PBV (x) 0.32 0.38 0.49 800 2
Dividend Payout (%) 31.85 44.87 83.28
Dividend Yield (%) 15.00 8.11 4.21 700 2
Operating Profit Margin (x) 0.07 0.02 n.a 1

600
1
Expense Ratio (x) 0.51 0.64 0.59 500
Loss Ratio (x) 0.26 0.34 0.26 1
Solvency Ratio (x) 0.64 0.65 1.12 400
ROI (%) 5.83 2.80 1.17 300

1
ROE (%) 14.88 6.88 2.49
Shareholders 200
0
PT Srihana Utama 30.44% PER = 28,73x ; PBV = 0.71x (June 2005)

100 0
PT Ngrumat Bondo Utomo 19.20%
Public Accountant: Hans Tuanakotta & Halim
PT Mega Global Investama 14.75% (member firm of Deloitte Touche Tohmatsu)
-
-
Dana Harta Keluarga 7.42% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 28.19%
PT Asuransi Bintang Tbk. Insurance
Head Office Jl. RS. Fatmawati No. 32 Summary of Financial Statement

Jakarta 12430
Phone (021) 7590-2777 (Hunting) (million rupiah)
2005 2006 2007
Fax (021) 765-6287
E-mail: Total Assets 177,331 182,528 181,709
bintang@asuransibintang.com Current Assets 47,438 48,957 50,618
of which
Website:
http://www.asuransibintang.com Premium receivables 29,618 32,921 32,308
Business General Insurance Receivable from reinsurers 15,353 11,207 11,184
Company Status PMDN Others receivable 369 1,204 1,396
Non-current Assets 129,893 133,571 131,091
Financial Performance: The Company suffered net loss at of which
IDR12.296 billion in 2007, while in 2006 booked net profit at Fixed Assets Net 14,649 30,702 30,500
IDR1.289 billion. Operating loss was increased significantly from Deffered Tax Assets-Net n.a 5,128 14,163
IDR727 million to IDR23.330 billion. Investment 83,191 89,804 78,644
Other Assets n.a 6,396 5,594
Brief History: PT Asuransi Bintang Tbk was established on
March 17, 1955 by several prominent figures who had been ac- Liabilities 100,310 95,842 108,129
tively involved in the struggle for independence. Those founder Current Liabilities 42,638 40,216 44,469
of which
were Idham, Soedarpo Sastrosatomo, Late Wibowo, Late Pang Lay
Claim payable 5,814 8,149 6,766
Kim, Ali Algadri, and Roestam Moenaf. They established an in- Payable to reinsurers 18,116 12,590 18,556
surance company whilst the economic activities were under the Non-current Liabilities 57,672 55,626 63,661
domination of foreigners and six month later they founded Bank
Niaga. The company became a public company at the end of 1989. Paid-up capital 40,250 87,097 87,097
BINTANG has now consolidated it self within the highly com- Paid-up capital
petitive Insurance business in Indonesia. With a new profile as a in excess of par value 50 50 50
publicly- owned corporation since 1989, Asuransi Bintang has Retained earnings 36,721 (486) (13,592)
spread its wing to provide service through 11 branch office and 8 Revenue 164,384 107,182 112,063
Representative Offices, with the support of 311 employees. The Operating Expenses 165,766 107,909 135,392
company entered the 21st century with a more established vision Operating Profit (Loss) (1,382) (727) (23,330)
to become a main player in the segment of consumer insurance Other Income (Expenses) 3,572 157 2,031
Profit before Taxes 2,190 (571) (21,299)
market. The consumer products include Perisay Rumah Seisinya Profit after Taxes 3,206 1,289 (12,296)
(home insurance), Perisay Mobil Individual (motor vehicle insur-
ance), and Perisai Sehat Individual (health insurance). Revenue Breakdown
Premium Income 170,039 174,658 200,425
Expenses Breakdown
Commissions 23,458 27,621 33,903
Claims paid 38,249 43,477 65,216
Others 46,109 36,812 36,273
Per Share Data (Rp)
Earnings per Share 40 7 (71)
Dividend per Share 20 5
Financial Ratios
PER (x) 11.80 67.57 -4.46
PBV (x) 0.49 1.01 0.75
Dividend Payout (%) 50.22 67.57 0.00
Dividend Yield (%) 4.26 1.00 0.00
Operating Profit Margin (x) n.a n.a n.a
Net Profit Margin (x) 0.02 0.01 n.a
Loss Ratio (x) 0.22 0.25 0.33
ROI (%) 1.81 0.71 (6.77)
Shareholders ROE (%) 4.16 1.49 (16.72)
PT Srihana Utama 34.45% PER = 12.74x ; PBV = 0.59x (June 2008)

PT Warisan Kasih Bunda 21.05% Financial Year: December 31
PT Ngrumat Bondo Utomo 20.05% Public Accountant: Kosasih & Nurdiyaman (2006);
PT Dana Harta Keluarga 5.90% Paul Hadiwinata, Hidajat, Arsono & Rekan (2007)
Public 18.55%

PT Asuransi Bintang Tbk. Insurance

President Commissioner Shanti L. Poeposoetjipto President Director Zafar Dinesh Idham
Commissioners Windrarta, David Batubara, Directors Fransiscus Riza Farial Zainuddin,
Andrus Roestam Moenaf Hastanto Sri Margi Widodo,
Reniwati Darmakusumah
per Listing Shares
1 First Issue 29-Nov-89 29-Nov-89 1,000,000 1,000,000

2 Company Listing 13-Apr-94 13-Apr-94 3,600,000 4,600,000
4 Bonus Shares 14-Oct-97 14-Oct-97 13,800,000 23,000,000
5 Bonus Shares 01-Nov-00 01-Nov-00 57,499,994 80,499,994
6 Stock Dividend 22-Sep-06 22-Sep-06 61,075,668 141,575,662
7 Right Issue 27-Dec-06 27-Dec-06 32,617,574 174,193,236
Underwriter
PT FINCONESIA
January-07 500 500 500 2.00 1.00 1 1 174,193,236.00 87,097.00
February-07 0 0 500 0.10 0.00 1 1 174,193,236.00 87,097.00
March-07 380 320 320 154.00 51.00 24 4 174,193,236.00 55,742.00
April-07 365 330 330 41.00 14.00 8 6 174,193,236.00 57,484.00
May-07 435 335 435 6.00 2.00 4 3 174,193,236.00 75,774.00
June-07 0 0 435 0.00 0.00 0 0 174,193,236.00 75,774.00
July-07 330 320 320 12.00 4.00 4 3 174,193,236.00 55,742.00
August-07 315 315 315 25.00 8.00 2 1 174,193,236.00 54,871.00
September-07 0 0 315 0.00 0.00 0 0 174,193,236.00 54,871.00
October-07 0 0 315 0.00 0.00 0 0 174,193,236.00 54,871.00
November-07 315 315 315 3.00 1.00 1 1 174,193,236.00 54,871.00
December-07 0 0 315 252.00 79.00 1 1 174,193,236.00 54,871.00
January-08 0 0 315 0.00 0.00 0 0 174,193,236.00 54,871.00
February-08 235 132 151 6.00 1.00 11 8 174,193,236.00 26,303.00
March-08 0 0 151 0.00 0.00 0 0 174,193,236.00 26,303.00
April-08 199 199 199 1.00 0.20 1 1 174,193,236.00 34,664.00
May-08 270 196 270 13.00 2.50 3 3 174,193,236.00 47,032.00
June-08 270 270 270 5,013.00 752.60 2 2 174,193,236.00 47,032.00

600 80
70
500
60
400
50
300 40
30
200
20
100
10
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Asuransi Bintang Tbk. ASBI

Established Date : 17-Mar-1955 1. PT Srihana Utama 61,761,388 : 35.46%
Listing Date : 29-Nov-1989 2. PT Ngrumat Bondo Utomo 43,651,082 : 25.06%
Under Writer IPO : 3. Warisan Kasih Bunda 36,661,944 : 21.05%
PT Aseam Indonesia
PT Finconesia DIVIDEND ANNOUNCEMENT
PT Ficorinvest Bonus Cash Cum Ex Recording Payment
PT Merchant Investment Corporation Year Shares Devidend Date Date Date Date F/I
PT PDFCI Securities 1990 75.00 28-Jun-90 29-Jun-90 06-Jul-90 18-Jul-90
Securities Administration Bureau : 1991 100.00 16-Jul-92 17-Jul-92 24-Jul-92 03-Aug-92 F
PT Blue Chip Mulia 1992 100.00 22-Jul-93 23-Jul-93 30-Jul-93 19-Aug-93 F
Bina Mulia Building I, 4th Fl. 1993 60.00 21-Jul-94 22-Jul-94 29-Jul-94 22-Aug-94 F
Jln. HR. Rasuna Said Kav. 10, Jakarta 12950 1994 180.00 21-Jul-95 24-Jul-95 01-Aug-95 01-Sep-95 F
Phone : 520-1928, 1983, 1993, 1989 1995 275.00 25-Jul-96 26-Jul-96 05-Aug-96 02-Sep-96 F
Fax : 520-1924 1996 300.00 23-Jul-97 24-Jul-97 01-Aug-97 23-Aug-97 F
1997 2:6 18-Sep-97 19-Sep-97 29-Sep-97 13-Oct-97
BOARD OF COMMISSIONERS 1997 75.00 23-Jul-98 24-Jul-98 03-Aug-98 27-Aug-98 F
1. Shanti L. Poesposoetjipto 1998 75.00 22-Jun-99 23-Jun-99 01-Jul-99 30-Jul-99 F
2. Andrus Roestam Moenaf 1999 210.00 04-Jul-00 05-Jul-00 13-Jul-00 18-Jul-00 F
3. Hastanto Sri Margi Widodo 2000 2:5 17-Oct-00 18-Oct-00 23-Oct-00 01-Nov-00
4. Petronius Saragih 2000 70.00 28-May-01 29-May-01 01-Jun-01 18-Jun-01 F
5. Salusra Satria *) 2001 45.00 01-Jul-02 02-Jul-02 05-Jul-02 19-Jul-02 F
6. Windrarta *) 2002 45.00 03-Jul-03 04-Jul-03 08-Jul-03 22-Jul-03 F
*) Independent Commissioners 2003 30.00 30-Jun-04 01-Jul-04 06-Jul-04 20-Jul-04 F
2005 20.00 04-Jul-05 05-Jul-05 07-Jul-05 21-Jul-05
BOARD OF DIRECTORS 2005 20.00 04-Jul-06 05-Jul-06 07-Jul-06 21-Jul-06 F
1. Zafar Dinesh Idham 2005 500 : 359,72048 05-Sep-06 06-Sep-06 08-Sep-06 22-Sep-06 S
2. Jenry Cardo Manurung 2006 5.00 27-Jun-07 28-Jun-07 02-Jul-07 16-Jul-07 F
3. Reniwati Darmakusumah 1992 50.00 00-Jan-00 00-Jan-00 00-Jan-00 00-Jan-00 F
AUDIT COMMITTEE ISSUED HISTORY

1. Salusra Satria Listing Trading
2. Arfandi Rifai Type of Listing Shares Date Date
3. Munir M. Ali 1. First Issue 1,000,000 29-Nov-89 29-Nov-89
2. Company Listing 3,600,000 13-Apr-94 13-Apr-94
CORPORATE SECRETARY 3. Stock Split 4,600,000 13-Oct-97 13-Oct-97
Jenry Cardo Manurung 4. Bonus Shares 13,800,000 14-Oct-97 14-Oct-97
5. Bonus Shares 57,499,994 01-Nov-00 01-Nov-00
HEAD OFFICE 6. Stock Dividend 61,075,668 22-Sep-06 22-Sep-06
Jln. R.S. Fatmawati No. 32 7. Right Issue 32,617,574 27-Dec-06 27-Dec-06
Jakarta Selatan - 12430
Phone : (021) 7590-2777, 769-0000
Fax : (021) 7590-2555, 765-6287, 769-8558, 7591-0000
Homepage : www.asuransibintang.com
Email : jenry.cardo@asuransibintang.com
bintang@asuransibintang.com
TRADING ACTIVITIES
Day
ASURANSI BINTANG TBK.
578 14.0 Jan-08 - - 315 - - - -
Feb-08 235 132 151 11 6 1 8
Mar-08 - - 151 - - - -
495 12.0
Apr-08 199 199 199 1 1 0.2 1
May-08 270 196 270 3 13 3 3
413 10.0 Jun-08 270 270 270 2 5,013 753 2
Jul-08 - - 270 - - - -
Aug-08 - - 270 - - - -
330 8.0 Sep-08 360 360 360 1 3 1 1
Oct-08 - - 360 - - - -
Nov-08 - - 360 - - - -
248 6.0
Dec-08 - - 360 - - - -
Jan-00 - - - - - - -
165 4.0 Jan-09 - - 360 - - - -
Feb-09 - - 360 - - - -
Mar-09 - - 360 - - - -
83 2.0 Apr-09 - - 360 - - - -
May-09 300 295 295 13 56 17 5
Jun-09 300 295 295 6 83 25 4
Aug-09 - - 290 - - - -
Sep-09 - - 570 - - - -
Oct-09 - - 570 - - - -
CHANGE OF CLOSING PRICE Nov-09 - - 570 - - - -
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Dec-09 - - 570 2 235 87 2
Jan-00 - - - - - - -
120% 120%
Jan-10 - - 570 - - - -
Finance Index
Feb-10 - - 570 - - - -
100% 100%
Closing Price Mar-10 - - 570 - - - -
Apr-10 280 275 275 2 11 3 2
80% 80%
May-10 - - 275 - - - -
Jun-10 225 225 225 1 22 5 1
60% 60%
Jul-10 285 225 285 6 10 3 2
Aug-10 - - 285 1 271 77 1
40% 40%
Sep-10 330 330 340 7 54 18 1
Oct-10 310 260 310 7 19 5 5
20% 20% Nov-10 265 205 255 19 81 20 6
Dec-10 - - 255 - - - -
- - Jan-00 - - - - - - -
Jan-11 - - 255 1 18 6 1
-20% -20% Feb-11 305 305 305 1 1 0.2 1
Mar-11 - - 305 - - - -
-40% -40% Apr-11 300 270 290 4 21 6 2
May-11 510 285 305 10,497 61,362 25,909 18
-60% -60% Jun-11 340 270 290 897 2,869 908 20
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12
Jul-11 390 280 360 1,317 8,267 2,973 21
Aug-11 350 245 280 698 3,082 1,001 18
Sep-11 295 275 280 69 368 103 6
Volume (Million Shares) 5 0.38 0.47 85 3 Nov-11 280 225 245 351 2,492 625 15
Value (Billion Rp) 1 0.13 0.13 33 1 Dec-11 305 245 275 1,159 5,699 1,622 18
Frequency (X) 18 24 43 15,101 419 Jan-00 - - - - - - -
Days 15 13 18 134 19 Jan-12 295 265 285 419 3,214 851 19
Feb-12 - - - - - - -
High 360 300 330 510 295.00 Apr-12 - - - - - - -
Low 132 290 205 225 265.00 May-12 - - - - - - -
Close 360 570 255 275 285 Jun-12 - - - - - - -
Close* 360 570 255 275 285 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 10.51 13.89 16.60 9.52 9.87 Sep-12 - - - - - - -
PBV (X) 0.78 0.58 0.48 0.50 0.52 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : Mulyamin Sensi Suryanto (Member of Moore Stephens International Ltd.) Book End : December

Total Investment 78,644 104,662 85,095 93,065 97,069
250
Other Receivable 1,396 1,149 3,624 4,916 20,113 150
Fixed Assets 30,500 28,605 27,686 28,090 27,453
Other Assets 5,594 1,941 1,906 1,399 1,471 100
Total Assets 181,709 200,328 186,854 243,601 243,537

50
Growth (%) 10.25% -6.73% 30.37% -0.03%
-
Reinsurance payables 18,556 27,538 16,340 31,752 24,154
Taxes payable 950 1,494 1,258 753 202
Growth (%) 11.14% -17.12% 52.58% -2.72% 96
92
96
87
74
Paid up Capital 87,097 87,097 87,097 87,097 87,097
77

5
57
Par Value 500 500 500 500 500

Retained Earnings -7,723 -1,176 -1,799 5,138 8,910 38
Total Equity 73,555 80,132 87,235 91,611 95,712

Growth (%) 8.94% 8.86% 5.02% 4.48% 19
2007 2008 2009 2010 Sep-11

Growth (%) -28.63% -18.44% 21.21%

103

74 73
Operating Expenses 36,273 36,149 43,662 48,662 34,706 65
60
Income from Operating -23,330 11,940 -4,072 -9,104 476 62
Growth (%) N/A N/A -123.60%

41
Others Income 2,031 3,410 1,538 3,387 3,585

21
Income before Tax -21,299 15,350 -2,534 -5,717 4,062

Tax -9,003 9,382 -6,171 -8,394 289 -
Net Income -12,296 5,968 3,637 2,677 3,773 2007 2008 2009 2010 Sep-11
Growth (%) N/A -39.06% -26.40%

RATIOS Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011 5.97
Dividend (Rp) - - - - - 6
3.77
3.64
EPS (Rp) -70.59 34.26 20.88 15.37 21.66 2.68
BV (Rp) 422.26 460.02 500.79 525.92 549.46

2
DAR (X) 0.60 0.60 0.53 0.62 0.61

-1
DER(X) 1.47 1.50 1.14 1.66 1.54 2007 2008 2009 2010 Sep-11
ROA (%) -11.72 7.66 -1.36 -2.35 1.67 -5
ROE (%) -28.96 19.16 -2.90 -6.24 4.24

OPM (%) -22.65 16.24 -6.79 -12.53 0.73 -9
NPM (%) -11.94 8.12 6.07 3.68 5.79

Payout Ratio (%) - - - - -
-12
-12
Yield (%) - - - - -
PT Asuransi Dayin Mitra Tbk. Insurance PT Asuransi Dayin Mitra Tbk. Insurance
Head Office Wisma Dayin Mitra Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Jend. Sudirman Kav. 34 President Commissioner Muhammad Zulkifli Abusuki President Director Goenawan Hadidjojo
Jakarta 10220 (Million rupiah) Vice President Commissioner Muhamad Subekti Vice President Director Josef Goenawan Setyo
Phone (021) 570-8989, 2002 2003 2004 Commissioners Bartholomeus Sugiharto Directors Purnama Hadiwidjaja, Yugi Prayanto
570-9268, 570-9275 Total Assets 184,265 201,218 247,197 Tetty Lanawati Gozali
Fax (021) 570-9268, 570-9274-76 Current Assets 123,048 112,525 141,274 Number of Employees 284
Business Insurance of which
Company Status PMDN Cash on hand and in banks 1,411 3,319 4,077
PT. Asuransi Dayin Mitra Tbk
Although underwriting income rose from Rp of which No Type of Listing Listing Date Trading Date Number of Shares Total Listed
64.256 billion in 2003 to Rp 73.489 billion in 2004, net income was down Fixed Asset-Net 16,089 15,496 11,212 per Listing Shares
slightly from Rp 10.100 billion to Rp 9.604 billion. That result was partly Investment 38,199 66,368 86,834
from increased of net underwriting expense from Rp 23 billion to Rp 29 Other Assets 6,929 6,830 7,876 1 First Issue 15-Dec-89 15-Dec-89 2,000,000 2,000,000
billion. 2 Company Listing 08-Nov-91 15-Nov-91 8,000,000 10,000,000
Liabilities 88,531 99,022 140,343
The company was established in 1982. In 1986, the first Current Liabilities 57,288 66,775 96,210
3 Bonus Shares 01-Sep-92 01-Sep-92 9,900,000 19,900,000
branch office was open in Medan. In 1989, company went public at Jakarta of which 4 Cooperative 01-Sep-92 31-Dec-99 100,000 20,000,000
Stock Exchange. In 1997, companyÕs name was changed to PT BDNI Claims payable 1,635 1,919 2,243 5 Stock Split 08-Sep-97 08-Sep-97 20,000,000 40,000,000
Payable to reinsurers 48,812 53,576 73,903 6 Stock Dividen 20-Oct-97 20-Oct-97 24,000,000 64,000,000
Asuransi Tbk. In 1999, companyÕs name was changed to PT Asuransi Dayin Taxes payable 1,258 1,835 843
Mitra Tbk, and companyÕs 10 branch in Solo was opened. And in 1999, 7 Bonus Shares 24-Feb-99 24-Feb-99 32,000,000 96,000,000
Non-Current Liabilities 31,243 32,246 44,132
the company underwriting result reached an all time high of Rp 100 bil- 8 Stock Split 29-May-02 29-May-02 96,000,000 192,000,000
lion. In 2000, the company launched a new motor vehicle insurance prod- Paid-up capital 48,000 48,000 48,000 Underwriter
uct ÒPermata MobilÓ. And in the same year, the company had explored e- Paid-up capital PT INDOVEST
commerce as alternative distribution channel in its marketing strategy starting in excess of par value 600 600 600
with motor vehicle insurance Retained earnings 47,134 53,597 58,254
Revenue 67,195 69,329 79,794
Operating Expenses 55,479 58,590 71,711 Month High Low Close Frequency Day Volume Value Shares Capitalization
Operating Profit 11,716 10,740 8,084 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
Other Income (Expenses) 950 1,208 3,756 January-04 285 230 260 291 17 3,943.00 1,026.00 192,000,000 49,920.00
Profit before Taxes 12,666 11,947 11,840 February-04 270 240 260 77 15 916.00 239.00 192,000,000 49,920.00
Profit after Taxes 11,257 10,100 9,604 March-04 260 235 250 82 11 851.00 208.00 192,000,000 48,000.00
April-04 270 250 260 14 7 224.00 57.00 192,000,000 49,920.00
Revenue Breakdown May-04 275 230 245 44 8 494.00 127.00 192,000,000 47,040.00
Premium Income 266,154 314,885 346,076 June-04 270 245 270 49 12 470.00 121.00 192,000,000 51,840.00
Investment Income 3,819 5,073 6,305 July-04 275 250 270 10 6 162.00 43.00 192,000,000 51,840.00
Expense Breakdown August-04 270 255 255 35 11 532.00 140.00 192,000,000 48,960.00
Commissions 10,771 -4,133 -13,206 September-04 280 255 260 60 8 926.00 245.00 192,000,000 49,920.00
October-04 295 265 275 306 17 3,186.00 890.00 192,000,000 52,800.00
Claims paid 27,735 23,012 2,997 November-04 290 265 280 60 11 1,261.00 351.00 192,000,000 53,760.00
December-04 310 280 295 240 17 2,502.00 734.00 192,000,000 56,640.00
Others 27,285 22,565 24,265
January-05 300 285 290 23 10 429.00 125.00 192,000,000 55,680.00
Per Share Data (Rp) February-05 310 280 285 28 12 402.00 116.00 192,000,000 54,720.00
Earnings per Share 59 53 50 March-05 320 290 320 58 8 1,368.00 417.00 192,000,000 61,440.00
Equity per Share 499 532 557 April-05 310 285 290 29 9 331.00 98.00 192,000,000 55,680.00
Dividend per Share 18 25 25 May-05 310 280 310 45 14 564.00 164.00 192,000,000 59,520.00
Closing Price 145 230 295 June-05 310 280 285 56 13 916.00 270.00 192,000,000 54,270.00
Financial Ratios
PER (x) 2.47 4.37 5.90
PBV (x) 0.29 0.43 0.53 Stock Price (Rp) Thousand Shares
Dividend Payout (%) 30.70 47.52 49.98 350 0
Dividend Yield (%) 12.41 10.87 8.47
0
300
0
250
Expense Ratio (x) 0.21 0.19 0.21 0
Loss Ratio (x) 0.10 0.07 0.01
200 0
0
ROI (%) 6.11 5.02 3.89 150
ROE (%) 11.76 9.88 8.99 0

100
PER = 5,70x ; PBV = 0.51x (June 2005) 0
Shareholders Financial Year: December 31 50
PT Equity Development Investment Public Accountant: Prasetio, Sarwoko & Sandjaja 0
(PT GT Investama Kapital Tbk Tbk) 73.92% - -

PT Asuransi Dayin Mitra Tbk 0.32% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 25.76%
PT Asuransi Dayin Mitra Tbk. Insurance
Head Office Wisma Sudirman ANNEX Summary of Financial Statement

Jl. Jend. Sudirman Kav. 34
Jakarta 10220 (Million rupiah)
Phone (021) 570-8989 (Hunting) 2005 2006 2007
Fax (021) 570-9268, 570-9274-76
Total Assets 239,212 249,734 236,690
Business Insurance Current Assets 146,671 150,849 133,728
Company Status PMDN of which
Financial Performance: The Company booked net profit at Premium receivables 95,872 93,428 86,634
IDR3.038 in 2007, slightly lower than 2006 net profit at IDR3.101 Receivable from reinsurers 10,476 14,549 17,474
billion. The Company suffered operating loss at IDR2.225 billion, Non-current Assets 92,541 98,885 102,962
while last year booked profit at IDR1.144 billion. of which
Fixed Asset-Net 13,036 11,422 8,629
Brief History: The company was established in 1982. In 1986, Investment 73,921 80,264 88,334
the first branch office was open in Medan. In 1989, company went Other Assets 5,584 7,199 5,999
public at Jakarta Stock Exchange. In 1997, company’s name was
Liabilities 134,021 146,388 131,751
changed to PT BDNI Asuransi Tbk. In 1999, company’s name was Current Liabilities 93,048 104,250 82,963
changed to PT Asuransi Dayin Mitra Tbk, and company’s 10th of which
branch in Solo was opened. And in 1999, the company underwrit- Claims payable 1,607 15,368 4,708
ing result reached an all time high of Rp 100 billion. In 2000, the Payable to reinsurers 70,858 67,305 55,953
company launched a new motor vehicle insurance product Taxes payable 809 1,063 1,319
“Permata Mobil”. And in the same year, the company had explored
e-commerce as alternative distribution channel in its marketing Shareholders' Equity 105,191 103,346 104,939
Paid-up capital 48,000 48,000 48,000
strategy starting with motor vehicle insurance.
Paid-up capital
in excess of par value 600 600 600
Revenue 83,085 81,108 84,129
Operating Profit 7,102 1,144 -2,225
Other Income (Expenses) 2,771 843 3,496
Profit before Taxes 9,873 1,987 1,271
Profit after Taxes 8,527 3,101 3,038
Revenue Breakdown
Premium Income 256,590 255,313 241,641
Expense Breakdown
Commissions 11,670 9,142 2,855
Claims paid 32,511 38,333 44,999
Others 35,259 35,712 44,054
Per Share Data (Rp)

Financial Ratios
PER (x) 5.40 10.83 18.33
PBV (x) 0.44 0.33 0.53
Operating Profit Margin (x) 0.09 0.01 n.a
Loss Ratio (x) 0.13 0.15 0.19
ROI (%) 3.56 1.24 1.28
ROE (%) 8.11 3.00 2.90
PER = 18.56x ; PBV = 0.36x (June 2008)

PT Equity Development Investment Tbk Public Accountant: Purwantono, Sarwoko & Sandjaja
(PT GT Investama Kapital Tbk) 73.92%
PT Asuransi Dayin Mitra Tbk (buy back) 0.44%
Public 25.64%

PT Asuransi Dayin Mitra Tbk. Insurance

President Commissioner Muhammad Zulkifli Abusuki President Director Josef Gunawan Setyo
Commissioners Bartholomeus Sugiharto, Bustomi Usman, Directors Purnama Hadiwidjaja, Sudibyo,
Yugi Prayanto Johny Dharma Setiawan
per Listing Shares
1 First Issue 15-Dec-89 15-Dec-89 2,000,000 2,000,000

2 Company Listing 08-Nov-91 15-Nov-91 8,000,000 10,000,000
3 Bonus Shares 01-Sep-92 01-Sep-92 9,900,000 19,900,000
4 Cooperative 01-Sep-92 31-Dec-99 100,000 20,000,000
5 Stock Split 08-Sep-97 08-Sep-97 20,000,000 40,000,000
6 Stock Dividen 20-Oct-97 20-Oct-97 24,000,000 64,000,000
7 Bonus Shares 24-Feb-99 24-Feb-99 32,000,000 96,000,000
8 Stock Split 29-May-02 29-May-02 96,000,000 192,000,000
Underwriter
PT INDOVEST
January-07 175 150 155 428.00 68.00 23 8 192,000,000.00 29,760.00
February-07 174 174 174 1.00 0.10 1 1 192,000,000.00 33,408.00
March-07 174 174 174 1.00 0.10 1 1 192,000,000.00 33,408.00
April-07 200 156 190 528.00 93.00 54 12 192,000,000.00 36,480.00
May-07 275 190 210 5,061.00 1,146.00 547 21 192,000,000.00 40,320.00
June-07 235 210 220 1,480.00 326.00 277 16 192,000,000.00 42,240.00
July-07 380 210 330 44,711.00 14,866.00 1,171 16 192,000,000.00 63,360.00
August-07 330 240 295 6,684.00 2,169.00 111 13 192,000,000.00 56,640.00
September-07 330 280 295 3,936.00 1,197.00 347 9 192,000,000.00 56,640.00
October-07 310 240 295 676.00 191.00 41 9 192,000,000.00 56,640.00
November-07 295 260 290 178.00 51.00 55 3 192,000,000.00 55,680.00
December-07 0 0 290 0.00 0.00 0 0 192,000,000.00 55,680.00
January-08 270 200 200 401.00 110.00 3 3 192,000,000.00 38,400.00
February-08 210 145 199 1,875.00 543.00 9 6 192,000,000.00 38,208.00
March-08 159 138 144 413.00 59.00 73 6 192,000,000.00 27,648.00
April-08 150 100 120 472.00 53.00 51 8 192,000,000.00 23,040.00
May-08 195 120 195 285.00 41.00 36 11 192,000,000.00 37,440.00
June-08 205 194 194 78.00 16.00 14 2 192,000,000.00 37,248.00

400 25
350
20
300
250
15
200
10
150
100
5
50
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Asuransi Dayin Mitra Tbk. ASDM
Main Board Individual Index : 174.275

Established Date : 01-Apr-1982 1. PT Equity Development Investments Tbk. 141,926,400 : 73.92%
Listing Date : 15-Dec-1989 2. PT Mandiri Maju Perkasa 15,460,000 : 8.05%
Under Writer IPO :
PT IFI DIVIDEND ANNOUNCEMENT
PT Indovest Securities Bonus Cash Cum Ex Recording Payment
PT PDFCI Securities Year Shares Devidend Date Date Date Date F/I
PT Bank Pembangunan Indonesia 1989 30.00 13-Jul-90 16-Jul-90 20-Jul-90 30-Jul-90 F
PT Danareksa 1991 125.00 26-Jul-91 29-Jul-91 05-Aug-91 19-Aug-91
Securities Administration Bureau : 1991 1 :1 200.00 21-Jul-92 22-Jul-92 29-Jul-92 29-Aug-92 F
PT Datindo Entrycom 1992 125.00 13-Aug-93 16-Aug-93 24-Aug-93 24-Sep-93 F
Wisma Sudirman - Puri Datindo 1993 100.00 15-Aug-94 16-Aug-94 24-Aug-94 23-Sep-94 F
Fax : 570-9026 1996 135.00 09-Jul-97 10-Jul-97 21-Jul-97 19-Aug-97 F
1997 5:3 19-Sep-97 22-Sep-97 30-Sep-97 17-Oct-97
BOARD OF COMMISSIONERS 1997 60.00 21-Jul-98 22-Jul-98 30-Jul-98 28-Aug-98 F
1. M. Zulkifli Abusuki 1999 2:1 07-Jan-99 08-Jan-99 25-Jan-99 23-Feb-99
2. Bustomi Usman 1998 60.00 09-Jun-99 10-Jun-99 18-Jun-99 16-Jul-99 F
3. Dibyo Raharjo 1999 70.00 29-Jun-00 30-Jun-00 10-Jul-00 24-Jul-00 F
4. Yugi Prayanto *) 2000 65.00 01-Dec-00 02-Dec-00 07-Dec-00 21-Dec-00 I
*) Independent Commissioners 2000 5.00 13-Jul-01 16-Jul-01 19-Jul-01 02-Aug-01 F
2001 27.50 28-Jun-02 01-Jul-02 04-Jul-02 18-Jul-02 F
BOARD OF DIRECTORS 2002 10.00 05-Feb-03 06-Feb-03 10-Feb-03 25-Feb-03 I
1. Josef Gunawan Setyo 2002 17.50 30-Jun-03 01-Jul-03 03-Jul-03 17-Jul-03 F
2. Dewi Mandrawan 2003 25.00 25-Jun-04 28-Jun-04 30-Jun-04 15-Jul-04 F
3. Jhony Dharma Setiawan 2005 25.00 09-Jun-05 10-Jun-05 14-Jun-05 28-Jun-05
4. Purnama Hadiwidjaja 2005 25.00 24-Jul-06 25-Jul-06 27-Jul-06 10-Aug-06 F
5. Sudibyo 2008 15.00 16-Jun-09 17-Jun-09 19-Jun-09 02-Jul-09 F
2009 20.00 21-Jul-10 22-Jul-10 26-Jul-10 09-Aug-10 F
AUDIT COMMITTEE 2010 35.00 21-Jul-11 22-Jul-11 26-Jul-11 08-Aug-11 F
1. Dibyo Raharjo
2. Anneke Hoesada ISSUED HISTORY
3. Harina Halim Listing Trading
CORPORATE SECRETARY 1. First Issue 2,000,000 15-Dec-89 15-Dec-89
Purnama Hadiwidjaja 2. Company Listing 8,000,000 08-Nov-91 15-Nov-91
3. Bonus Shares 9,900,000 01-Sep-92 01-Sep-92
HEAD OFFICE 4. Koperasi 100,000 01-Sep-92 31-Dec-99
Wisma Sudirman Annex 5. Stock Split 20,000,000 08-Sep-97 08-Sep-97
Jln. Jend. Sudirman Kav. 34, Jakarta 10220 6. Stock Dividen 24,000,000 20-Oct-97 20-Oct-97
Phone : (021) 570-8989 7. Bonus Shares 32,000,000 24-Feb-99 24-Feb-99
Fax : (021) 570-9268, 570-9273 - 6 8. Stock Split 96,000,000 29-May-02 29-May-02
Homepage : www.dayinmitra.co.id
Email : csecretary@dayinmitra.co.id
TRADING ACTIVITIES
Day
ASURANSI DAYIN MITRA TBK.
1,050 14 Jan-08 270 200 200 3 401 110 3
Feb-08 210 145 199 9 1,875 543 5
Mar-08 159 138 144 73 413 59 6
900 12
Apr-08 150 107 120 51 472 53 8
May-08 195 120 195 36 285 41 11
750 10 Jun-08 205 194 194 14 78 16 2
Jul-08 194 194 194 1 10 2 1
Aug-08 - - 194 - - - -
600 8 Sep-08 130 127 130 17 104 13 1
Oct-08 156 143 156 3 244 37 3
Nov-08 152 152 152 1 100 15 1
450 6
Dec-08 140 126 126 3 888 84 3
Jan-00 - - - - - - -
300 4 Jan-09 120 120 120 1 10 1 1
Feb-09 - - 120 - - - -
Mar-09 120 99 108 17 210 22 3
150 2 Apr-09 160 103 160 36 1,983 294 8
May-09 245 160 205 46 886 190 9
Jun-09 270 200 240 18 491 121 7
Aug-09 270 205 260 39 426 99 12
Sep-09 285 230 260 20 5,190 1,330 7
Oct-09 250 200 220 174 979 215 9
Jan-00 - - - - - - -
240% 240%
Jan-10 220 180 180 13 59 11 6
Feb-10 - - 180 - - - -
200% Jakarta Composite Index 200% Mar-10 340 180 325 377 14,935 4,727 16
Finance Index Apr-10 330 300 320 16 3,776 1,156 6
Closing
C os g Price
ce
160% 160% M 10
May-10 340 320 330 19 1 080
1,080 355 5
Jun-10 365 315 365 48 1,303 466 8
Jul-10 850 350 800 2,742 82,824 44,464 21
120% 120%
Aug-10 960 730 900 325 6,771 5,825 14
Sep-10 810 800 800 23 250 202 7
80% 80% Oct-10 900 800 800 3 2 2 2
Nov-10 760 650 650 2 101 65 2
40% 40% Dec-10 630 510 600 25 15,837 12,601 7
Jan-00 - - - - - - -
- -
Jan-11 700 550 620 35 661 406 10
Feb-11 800 740 800 7 756 604 3
Mar-11 820 780 780 3 112 91 3
-40% -40%
Apr-11 810 810 810 2 3 2 2
May-11 720 550 550 10 7 4 5
-80% -80% Jun-11 600 285 510 171 518 236 19
Aug-11 580 365 400 35 4,712 2,208 12
Sep-11 590 350 510 41 515 283 10
Volume (Million Shares) 5 19 127 8 1 Nov-11 600 400 480 13 255 122 7
Value (Billion Rp) 1 5 70 4 0.3 Dec-11 590 475 500 8 342 168 4
Frequency (X) 211 904 3,593 436 103 Jan-00 - - - - - - -
Days 44 70 94 100 12 Jan-12 600 450 590 103 580 309 12
Feb-12 - - - - - - -
High 270 340 960 820 600 Apr-12 - - - - - - -
Low 107 99 180 285 450 May-12 - - - - - - -
Close 126 240 600 500 590 Jun-12 - - - - - - -
Close* 126 240 600 500 590 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 4.82 5.99 8.14 4.61 5.44 Sep-12 - - - - - - -
PBV (X) 0.24 0.41 0.89 0.69 0.82 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : Purwantono, Suherman & Surja (Member of Ernst & Young Global Limited) Book End : December

Total Investment 110,890 101,743 114,244 138,007 147,369
313
Premium Receivables 86,634 114,060 104,214 124,164 89,716
250
Other Receivable 2,283 771 529 454 524 188
Fixed Assets 8,629 12,172 12,916 11,732 11,417
Other Assets 5,999 7,233 7,253 8,496 21,172 125
Total Assets 236,690 257,516 262,885 308,123 298,502

63
Growth (%) 8.80% 2.08% 17.21% -3.12%
-
Taxes payable 1,319 1,242 779 1,093 1,224
Growth (%) 17.40% -3.11% 19.05% -10.39% 139
139 130

105 103
Paid up Capital 48,000 48,000 48,000 48,000 48,000
111

83
Par Value 250 250 250 250 250

Total Equity 104,939 102,834 113,009 129,691 138,613

Growth (%) -2.01% 9.89% 14.76% 6.88% 28
2007 2008 2009 2010 Sep-11

Growth (%) 18.51% 9.29% 5.26%

103
98
Underwriting Income 30,855 46,442 53,061 58,217 51,917 90
83 76
Income from Operating -2,225 5,143 7,300 14,761 14,878 62
Growth (%) N/A 41.94% 102.21%

41
Others Income 3,496 1,185 1,109 1,399 1,648

21

Tax -1,768 1,306 714 2,010 2,313 -
Net Income 3,038 5,022 7,696 14,150 15,612 2007 2008 2009 2010 Sep-11
Growth (%) 65.27% 53.25% 83.87%

Dividend (Rp) - 15.00 20.00 35.00 - 16
14
EPS (Rp) 15.83 26.15 40.08 73.70 81.32
BV (Rp) 546.56 535.59 588.59 675.47 721.94
12
DAR (X) 0.56 0.60 0.57 0.58 0.54

8
9
DER(X) 1.26 1.50 1.33 1.38 1.15

ROA (%) 0.54 2.46 3.20 5.24 5.54 6
5
ROE (%) 1.21 6.15 7.44 12.46 11.92
3
OPM (%) -2.93 5.72 7.43 14.27 18.34 3
NPM (%) 4.01 5.59 7.83 13.68 19.25

Payout Ratio (%) - 57.35 49.90 47.49 -
-
Yield (%) - 11.90 8.33 5.83 - 2007 2008 2009 2010 Sep-11
PT Asuransi Ramayana Tbk. Insurance PT Asuransi Ramayana Tbk. Insurance
Head Office Jl. Kebon Sirih No. 49 Summary of Financial Statement Board of Commissioners Board of Directors
Jakarta 10340 PO. Box. 4685 President Commissioner Prof. Dr. J.B. Sumarlin President Director DR. A. Winoto Doeriat
Phone (021) 3193-7148 (Hunting) (million rupiah) Commissioners Sadijono Harjokusumo, SH Vice President Director Syahril, SE
Fax (021) 3193-4825, 310-7448 2002 2003 2004 Ir. Widyanarso Doeriat, SE Directors Giri Pamengan, SE, AAAIK,
Telex 73-61670 RAMAHQ IA Total Assets 132,799 150,866 191,260 Addy Pramono, AAAIK
Cable RAMAASURANSI Current Assets 64,748 74,625 96,002
Business General Insurance of which Number of Employees 558
Company Status PMDN Cash on hand and in banks 8,179 7,459 11,776
PT. Asuransi Ramayana Tbk. Receivable from reinsurers 15,137 14,160 30,142
Others receivable 1,281 2,130 828
Net premium income increased in 2004 to Rp
116 billion from Rp 90 billion recorded in 2003. Net profit rose from Rp of which No Type of Listing Listing Date Trading Date Number of Shares Total Listed
11 billion to Rp 16 billion. Fixed Assets-Net 16,497 18,695 18,608 per Listing Shares
The company cooperates with four domestic reinsurance Investments 47,637 53,503 70,544
1 First Issue 19-Mar-90 19-Mar-90 2,000,000 2,000,000
companies and more than 17 overseas reinsurance company. The company Other Assets 3,917 3,991 2,899
2 Partial Listing 23-Oct-90 30-Oct-90 1,000,000 3,000,000
was founded in 1956 under the name of PT Maskapai Asuransi Ramayana Liabilities 73,560 87,759 116,972 3 Stock Split 05-Oct-98 05-Oct-98 3,000,000 6,000,000
and currently has 19 branches. Current Liabilities 28,069 38,899 52,264
of which
Claims payable 8,528 9,545 5,123 5 Company Listing 12-Jan-01 12-Jan-01 28,000,000 40,000,000
Payable to reinsurers 8,874 12,591 11,191 6 Stock Dividen 14-Jun-02 14-Jun-02 17,021,276 57,021,276
Taxes payable 1,264 2,935 5,453 7 Stock Dividend Correction Jan-04 Jan-04 -21,294 56,999,982
Minority Interests in Subsidiaries 13 15 15
Underwriters
PT Inter-Pacific Financial Corporation, PT INDOVEST
Paid-up capital 28,500 28,500 28,500
Paid-up capital Stock Price Trading Shares Traded Listed Market
in excess of par value 11,475 11,475 11,475 Month High Low Close Frequency Day Volume Value Shares Capitalization
Retained earnings 19,251 23,117 34,299 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-04 800 725 750 29 10 93.00 68.00 56,999,982 42,750.00
Revenue 86,000 93,397 119,936 February-04 775 750 775 3 2 6.00 5.00 56,999,982 44,175.00
Operating Expenses 77,593 77,216 99,306 March-04 750 750 750 2 2 5.00 4.00 56,999,982 42,750.00
Operating Profit 8,407 16,180 20,631 April-04 900 700 850 14 6 35.00 29.00 56,999,982 48,450.00
Other Income (Expenses) 2,043 36 1,767 May-04 825 825 825 1 1 3.00 2.00 56,999,982 47,025.00
Profit before Taxes 10,450 16,217 22,398 June-04 850 850 850 4 3 5.00 4.00 56,999,982 48,450.00
Profit after Taxes 7,371 11,013 16,197 July-04 850 725 750 10 7 43.00 34.00 56,999,982 42,750.00
Revenue Breakdown August-04 0 0 750 0 0 0.00 0.00 56,999,982 42,750.00
Premium Income 82,186 90,837 116,079 September-04 0 0 750 1 1 5.00 4.00 56,999,982 42,750.00
Investment Income 3,815 2,560 3,857 October-04 900 800 850 15 5 27.00 22.00 56,999,982 48,450.00
Others 2,043 36 1,767 November-04 950 850 900 12 5 129.00 116.00 56,999,982 51,300.00
December-04 850 850 850 1 1 1.00 0.00 56,999,982 48,450.00
Expense Breakdown January-05 900 870 900 5 5 6.00 5.00 56,999,982 51,300.00
Commissions 15,267 13,424 24,609 February-05 1,000 950 1,000 6 5 17.00 17.00 56,999,982 57,000.00
Reinsurance Premiums 119,668 135,462 140,060 March-05 0 0 1,000 0 0 0.00 0.00 56,999,982 57,000.00
Claims Paid 25,358 20,343 27,668 April-05 1,050 1,050 1,050 1 1 5.00 5.00 56,999,982 59,850.00
Others 39,506 42,707 55,420 May-05 0 0 1,050 0 0 0.00 0.00 56,999,982 59,850.00
Per Share Data (Rp) June-05 1,200 1,000 1,050 23 10 98.00 111.00 56,999,982 59,850.00
Equity per Share 1,039 1,107 1,303 Stock Price and Traded Chart
Dividend per Share 68 88 n.a
1,400 0
Financial Ratios
PER (x) 5.22 2.02 2.99 1,200
0
PBV (x) 0.65 0.35 0.65
Dividend Payout (%) 52.59 45.54 n.a 1,000
Dividend Yield (%) 10.07 22.56 n.a 0
Expense Ratio (x) 0.94 0.85 0.86 600

Loss Ratio (x) 0.31 0.22 0.24 0
Shareholders Investment to Total Assets Ratio (x) 0.60 0.64 0.60 400
Syahril, SE 21.63% ROI (%) 5.55 7.30 8.47
Aloysius Winoto Doeriat 21.30% ROE (%) 12.45 17.46 21.81 200
0
PT Ragam Venturindo 13.88%

PER = 3,70x ; PBV = 0.81x (June 2005)
Wirastuti Puntaraksma 11.39% - -
Financial Year: December 31 Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun-
Korean Reinsurance Company 10.00% Public Accountant: Sirumapea & Wahyudiyanto 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 21.80%
PT Asuransi Ramayana Tbk. Insurance
Head Office Jl. Kebon Sirih No. 49 Summary of Financial Statement

Jakarta 10340 PO. Box. 4685
Phone (021) 3193-7148 (Hunting) (million rupiah)
2005 2006 2007
Fax (021) 3193-4825, 310-7448
Telex 73-61670 RAMAHQ IA Total Assets 203,461 232,060 244,721
Cable RAMAASURANSI Current Assets 89,659 102,645 96,726
Business General Insurance of which
Company Status PMDN
Financial Performance: Net profit was increased slightly to Others receivable 731 1,505 736
IDR15.503 billion in 2007 from IDR15.464 billion in 2006. Net rev- Non-current Assets 113,802 129,414 147,994
enue increased from IDR190 billion to IDR225 billion. of which
Brief History: The company cooperates with four domestic Fixed Assets-Net 10,480 23,255 23,158
reinsurance companies and more than 17 overseas reinsurance Investments 88,408 97,559 116,046
Other Assets 14,301 4,526 4,726
company. The company was founded in 1956 under the name of
PT Maskapai Asuransi Ramayana and currently has 19 branches. Liabilities 108,237 139,321 142,893
of which .
Claims payable 15,763 25,826 21,429
Payable to reinsurers 5,677 11,122 12,375
Taxes payable 7,258 1,376 799
Minority Interests in Subsidiaries n.a 13 13

Paid-up capital 28,500 28,500 28,500
Paid-up capital
Revenue 155,291 190,655 225,008

Operating Profit 15,534 17,639 17,076
Other Income (Expenses) 5,187 789 2,275
Revenue Breakdown
Premium Income 146,434 182,530 215,942
Others 5,187 789 2,275
Expense Breakdown
Commissions 34,699 55,926 70,960
Claims Paid 44,650 59,701 75,570
Others 60,866 62,651 69,664
Per Share Data (Rp)
Equity per Share 1,671 1,627 1,786
Dividend per Share 111 112 n.a
Closing Price 1,000 1,000 1,060
Financial Ratios
PER (x) 3.79 3.69 3.90
PBV (x) 0.60 0.61 0.59
Dividend Payout (%) 42.06 41.28 n.a
Dividend Yield (%) 11.10 11.20 n.a
Shareholders Loss Ratio (x) 0.30 0.33 0.35
Syahril, SE 21.69% ROI (%) 7.39 6.66 6.33
Aloysius Winoto Doeriat 21.30% ROE (%) 15.80 16.68 15.23
PT Ragam Venturindo 13.88%
Wirastuti Puntaraksma 11.39% PER = 2.43x ; PBV = 0.75x (June 2008)
Korean Reinsurance Company 10.00%
Public Accountant: Mulyamin Sensi Suryanto
Public 21.74%

PT Asuransi Ramayana Tbk. Insurance

President Commissioner Prof. DR. J.B. Sumarlin President Director DR. A. Winoto Doeriat
Commissioners Ananto Harjokusumo, ACII, MBA Vice President Director Syahril, SE
Ir. A. Widyanarso Doeriat, SE Directors Giri Pamengan, SE, AAAIK,
Addy Pramono, AAAIK
per Listing Shares
1 First Issue 19-Mar-90 19-Mar-90 2,000,000 2,000,000

2 Partial Listing 23-Oct-90 30-Oct-90 1,000,000 3,000,000
5 Company Listing 12-Jan-01 12-Jan-01 28,000,000 40,000,000
6 Stock Dividen 14-Jun-02 14-Jun-02 17,021,276 57,021,276
7 Stock Dividend Correction Jan-04 Jan-04 -21,294 56,999,982
Underwriters
PT Inter-Pacific Financial Corporation, PT INDOVEST
January-07 1,040 1,040 1,040 2.00 2.00 1 1 56,999,982.00 59,280.00
February-07 1,050 1,050 1,050 22.00 23.00 2 2 56,999,982.00 59,850.00
March-07 1,050 1,050 1,050 25.00 26.00 1 1 56,999,982.00 59,850.00
April-07 0 0 1,050 0.00 0.00 0 0 56,999,982.00 59,850.00
May-07 1,100 1,050 1,050 1.00 1.00 2 2 56,999,982.00 59,850.00
June-07 1,300 1,050 1,300 7.00 7.00 6 3 56,999,982.00 74,100.00
July-07 1,600 1,600 1,600 1.00 1.00 1 1 56,999,982.00 91,200.00
August-07 0 0 1,600 0.00 0.00 0 0 56,999,982.00 91,200.00
September-07 0 0 1,600 0.00 0.00 0 0 56,999,982.00 91,200.00
October-07 0 0 1,600 0.00 0.00 0 0 56,999,982.00 91,200.00
November-07 1,510 1,510 1,510 1.00 2.00 1 1 56,999,982.00 86,070.00
December-07 1,060 1,060 1,060 1.00 1.00 1 1 56,999,982.00 60,420.00
January-08 1,050 1,050 1,050 22.00 23.00 2 2 56,999,982.00 59,850.00
February-08 0 0 1,050 0.00 0.00 0 0 56,999,982.00 59,850.00
March-08 1,050 910 910 6.00 6.00 2 2 56,999,982.00 51,870.00
April-08 1,190 920 980 6.00 6.00 6 5 56,999,982.00 55,860.00
May-08 1,250 940 1,150 16.00 16.00 6 5 56,999,982.00 65,550.00
June-08 1,490 1,490 1,490 10.00 15.00 1 1 56,999,982.00 84,930.00

1,800 30
1,600
25
1,400
1,200 20
1,000
15
800
600 10
400
5
200
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Asuransi Ramayana Tbk. ASRM

Established Date : 06-Aug-1956 1. Syahril 37,186,246 : 22.28%
Listing Date : 19-Mar-1990 2. A. Winoto Doeriat 35,539,746 : 21.30%
Under Writer IPO : 3. Ragam Venturindo 23,155,848 : 13.88%
PT Indovest Securities 4. Wirastuti Puntaraksma, S.H. 19,012,568 : 11.39%
PT Inter-Pacific Securities 5. Korean Reinsurance Company 16,688,000 : 10.00%
Securities Administration Bureau :
PT BSR Indonesia DIVIDEND ANNOUNCEMENT
Komplek Perkantoran ITC Roxy Mas Blok E1 No. 10-11 Bonus Cash Cum Ex Recording Payment
Jln. K.H. Hasyim Ashari Jakarta 10150 Year Shares Devidend Date Date Date Date F/I
Phone : 631-7828 1990 118.00 08-May-90 09-May-90 14-May-90 14-Jun-90 F
Fax : 631-7827 1990 169.00 07-Jun-91 10-Jun-91 17-Jun-91 02-Jul-91 F
1991 125.00 28-Jun-91 01-Jul-91 08-Jul-91 22-Jul-91
BOARD OF COMMISSIONERS 1991 115.00 30-Mar-92 31-Mar-92 13-Apr-92 14-May-92 F
1. A. Winoto Doeriat *) 1992 129.00 22-Apr-93 23-Apr-93 30-Apr-93 19-May-93 F
2. Achsan Permans 1993 135.00 16-May-94 17-May-94 24-May-94 31-May-94 F
3. J.B. Sumarlin 1994 168.00 05-May-95 08-May-95 17-May-95 09-Jun-95 F
1996 246.00 27-Jun-97 30-Jun-97 08-Jul-97 25-Jul-97 F
BOARD OF DIRECTORS 1997 168.00 21-Apr-98 22-Apr-98 01-May-98 29-May-98 F
1. Syahril 1998 1:1 19-Oct-98 20-Oct-98 28-Oct-98 26-Nov-98
2. Antonius Widyanarso Doeriat 1998 51.00 31-May-99 01-Jun-99 10-Jun-99 09-Jul-99 F
3. Giri Pamengan 1999 56.00 31-May-00 02-Jun-00 12-Jun-00 27-Jun-00 F
4. Hendi Agung Hendrawan 2000 65.00 23-May-01 25-May-01 01-Jun-01 20-Jun-01 F
5. Pardomuan Harahap 2001 1000 : 425 80.00 28-May-02 29-May-02 03-Jun-02 14-Jun-02 F
2002 68.00 16-Jun-03 17-Jun-03 19-Jun-03 03-Jul-03 F
AUDIT COMMITTEE 2003 88.00 22-Jun-04 23-Jun-04 25-Jun-04 08-Jul-04 F
1. J.B. Sumarlin 2005 111.00 22-Jun-06 23-Jun-06 27-Jun-06 11-Jul-06 F
2. Bernard E. Tidajoh 2006 112.00 15-Jun-07 18-Jun-07 20-Jun-07 04-Jun-07 F
2007 115.00 19-Jun-08 18-Jun-08 23-Jun-08 07-Jul-08 F
CORPORATE SECRETARY 2008 94.00 18-Jun-09 19-Jun-09 23-Jun-09 09-Jul-09 F
R. Yoyok Setio 2009 70.00 17-Jun-10 18-Jun-10 22-Jun-10 06-Jul-10 F
2010 55.00 20-Jun-11 21-Jun-11 23-Jun-11 08-Jul-11 F
HEAD OFFICE 2010 5:1 20-Jun-11 21-Jun-11 23-Jun-11 08-Jul-11 F
Jln. Kebon Sirih No. 49 2010 19 : 7 20-Jun-11 21-Jun-11 23-Jun-11 08-Jul-11 F
Jakarta Pusat - 10340
Phone : (021 ) 3193-7148 ISSUED HISTORY
Fax : (021) 3193-4825 Listing Trading
Homepage : www.ramayanains.com 1. First Issue 2,000,000 19-Mar-90 19-Mar-90
Email : yoyok.setio@ramayanains.com 2. Partial Listing 1,000,000 23-Oct-90 30-Oct-90
3. Stock Split 3,000,000 05-Oct-98 05-Oct-98
4. Bonus Shares 6,000,000 27-Nov-98 27-Nov-98
5. Company Listing 28,000,000 12-Jan-01 12-Jan-01
6. Stock Dividen 17,021,276 14-Jun-02 14-Jun-02
7. Ralat Stock Dividen -21,294 14-Jun-02 14-Jun-02
8. Bonus Shares 22,799,992 29-Sep-08 29-Sep-08
9. Revisi Bonus Shares -31 15-Oct-08 15-Oct-08
10. Bonus shares 26,599,933 16-Sep-10 16-Sep-10
11. Bonus shares 39,199,954 08-Jul-11 08-Jul-11
12. Stock Dividend 21,279,975 08-Jul-11 08-Jul-11
13. Revision of BS & SD -159 13-Jan-12 13-Jan-12
TRADING ACTIVITIES
Day
ASURANSI RAMAYANA TBK.
2,800 0.35 Jan-08 1,050 1,050 1,050 2 22 23 2
Feb-08 - - 1,050 - - - -
Mar-08 1,050 910 910 2 6 6 2
2,400 0.30
Apr-08 1,190 930 980 6 6 6 5
May-08 1,250 940 1,150 6 16 16 5
2,000 0.25 Jun-08 1,490 1,490 1,490 1 10 15 1
Jul-08 - - 1,490 - - - -
Aug-08 - - 1,490 - - - -
1,600 0.20 Sep-08 1,080 1,070 1,080 2 1 1 1
Oct-08 1,180 1,070 1,080 5 3 3 2
Nov-08 980 630 630 21 80 60 11
1,200 0.15
Dec-08 690 570 610 8 5 3 7
Jan-00 - - - - - - -
800 0.10 Jan-09 800 730 800 3 5 4 2
Feb-09 690 600 690 7 7 5 4
Mar-09 520 520 520 3 3 1 3
400 0.05 Apr-09 900 600 680 5 22 15 4
May-09 1,000 800 1,000 3 5 4 3
Jun-09 1,000 960 1,000 6 9 9 4
0.00
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-09 1,000 1,000 1,000 3 10 10 2
Aug-09 990 990 990 1 3 2 1
Sep-09 - - 990 - - - -
Oct-09 - - 990 - - - -
CHANGE OF CLOSING PRICE Nov-09 - - 990 - - - -
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Dec-09 - - 990 - - - -
Jan-00 - - - - - - -
390% 390%
Jan-10 1,000 1,000 1,000 2 4 4 2
Feb-10 950 950 950 1 8 7 1
325% 325% Mar-10 950 950 950 5 67 63 1
Apr-10 1,150 1,000 1,100 16 35 37 8
Finance Index
Closing Price M 10
May-10 1 250
1,250 1 000
1,000 1 250
1,250 3 2 2 3
260% 260% Jun-10 1,270 1,250 1,260 6 9 11 4
Jul-10 - - 1,260 - - - -
Aug-10 1,500 950 1,280 7 6 7 3
195% 195%
Sep-10 1,350 1,010 1,020 8 4 4 5
Oct-10 1,120 1,020 1,030 14 49 53 4
130% 130% Nov-10 1,100 1,050 1,100 4 29 31 3
Dec-10 1,050 1,040 1,040 3 4 4 3
Jan-00 - - - - - - -
65% 65%
Jan-11 1,000 1,000 1,000 3 217 238 3
Feb-11 1,560 1,250 1,400 3 2 3 3
- -
Mar-11 - - 1,400 - - - -
Apr-11 1,400 1,400 1,400 5 12 16 4
May-11 2,400 1,300 2,400 65 382 620 11
-65% -65% Jun-11 2,900 1,350 1,820 129 242 548 19
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-11 1,830 1,500 1,740 28 23 37 8
Aug-11 1,670 1,120 1,380 53 112 156 13
Sep-11 1,530 1,110 1,290 28 19 24 12
SHARES TRADED 2008 2009 2010 2011 Jan-12 Oct-11 1,380 1,020 1,020 30 57 62 9
Volume (Million Shares) 0.15 0.06 0.21 2 0.18 Nov-11 1,100 850 980 27 51 47 8
Value (Billion Rp) 0.13 0.05 0.22 2 0.22 Dec-11 920 720 820 133 644 519 15
Frequency (X) 53 31 69 504 163 Jan-00 - - - - - - -
Days 36 23 37 105 13 Jan-12 1,700 820 1,700 163 181 215 13
Feb-12 - - - - - - -
High 1,490 1,000 1,500 2,900 1,700 Apr-12 - - - - - - -
Low 570 520 950 720 820 May-12 - - - - - - -
Close 610 990 1,040 820 1,700 Jun-12 - - - - - - -
Close* 458 743 1,040 820 1,700 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 2.77 3.58 4.54 6.79 14.08 Sep-12 - - - - - - -
PBV (X) 0.43 0.62 0.78 0.94 1.95 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : Mulyamin Sensi Suryanto (Member of Moore Stephens International Ltd.) Book End : December

Other Receivable 736 421 314 2,071 1,475 375
Fixed Assets 23,158 21,991 29,506 28,838 28,001

250
Other Assets 4,726 5,306 4,930 5,207 6,354
Total Assets 244,721 315,274 364,015 457,415 559,739
125
Growth (%) 28.83% 15.46% 25.66% 22.37%
-
Taxes payable 799 4,931 5,021 2,522 135
Growth (%) 41.66% 17.18% 33.10% 31.11% 146
142
146
127
Paid up Capital 28,500 39,900 39,900 53,200 83,440 102
117

88
Par Value 500 500 500 500 500

Total Equity 101,815 112,838 126,809 141,699 145,843

Growth (%) 10.83% 12.38% 11.74% 2.92% 29
2007 2008 2009 2010 Sep-11

Growth (%) 5.35% 2.91% 1.25%
Underwriting Expenses 146,530 142,736 132,982 121,721 105,802 234 237

227
237
216
190

Growth (%) 37.52% 32.45% -5.23%

95
Others Income 2,275 3,835 1,195 4,053 3,067

47

Tax 3,848 9,739 10,249 9,146 6,106 -
Net Income 15,503 17,579 22,049 24,383 15,111 2007 2008 2009 2010 Sep-11
Growth (%) 13.39% 25.43% 10.59%

Dividend (Rp) 115.00 94.00 70.00 55.00 - 24
22
EPS (Rp) 271.98 220.28 276.30 229.16 90.55
18
BV (Rp) 1,786.22 1,414.01 1,589.09 1,331.76 873.94
20
16 15
DAR (X) 0.58 0.64 0.65 0.69 0.74
15
DER(X) 1.40 1.79 1.87 2.23 2.84

ROA (%) 7.91 8.66 8.87 7.33 3.70 10
ROE (%) 19.01 24.21 25.47 23.66 14.20

OPM (%) 7.91 10.32 13.29 12.44 9.49 5
NPM (%) 7.18 7.73 9.42 10.29 8.13

Payout Ratio (%) 42.28 42.67 25.33 24.00 -
-
Yield (%) 10.85 15.41 7.07 5.29 - 2007 2008 2009 2010 Sep-11
PT Lippo General Insurance Tbk. Insurance PT Lippo General Insurance Tbk. Insurance
Head Office Gedung Citra Graha 2nd Floor, Summary of Financial Statement Board of Commissioners Board of Directors
Suite 208 President Commissioner Suhendra Atmadja President Director Ivan Setiawan Budiono
Jl. Jend. Gatot Subroto Kav. 35-36 (million rupiah) Commissioners Timoer Soetanto, Director Johannes Mardikian Agus, Adhe Aurora Gultom,
Jakarta 12950 2002 2003 2004 Martoni Frans Tumbelaka Hartono Tjahjana Gunadharma
Phone (021) 525-6161 Total Assets 227,015 266,638 390,856
Fax (021) 525-7161 Current Assets 30,337 31,239 42,625 Number of Employees 115
E-mail: Lgijkt@centrin.net.id of which
Secretariat@lippogeneral.co.id Cash on hand and in banks 987 544 980
http://www.lippogeneral.co.id Receivable from reinsurers 2,595 2,157 2,876
Business Insurance Non-Current Assets 196,678 235,399 348,231
Fixed Assets-Net 2,076 1,720 1,485
PT. Lippo General Insurance Tbk. Investment 176,677 210,952 322,980 No Type of Listing Listing Date Trading Date Number of Shares Total Listed
The Company successfully booked net income Other Assets 12,927 17,985 18,939 per Listing Shares
at Rp 10.718 billion, jump significantly from last yearÕs net loss at Rp 16.598 Liabilities 54,572 77,968 103,077 1 First Issue 22-Jul-97 22-Jul-97 51,000,000 51,000,000
billion. Current Liabilities 14,845 20,430 32,485
2 Company Listing 22-Jul-97 27-Feb-98 99,000,000 150,000,000
The company formerly named PT Asuransi Brawidjaja of which
was established in Jakarta in 1963. The name has been changed several Taxes payable 242 114 137
times the latest one is currently used by the company. The products offered Non-Current Liabilities 39,727 57,538 70,592
by the company includes services for insuring automotive, all risk, cash in
safe, cash in transit, burglary, fire, liability, fidelity guarantee and personal Paid-up capital 75,000 75,000 75,000
accident. Automotive and health insurance is the main contributor to the Paid-up capital Underwriters
companyÕs annual gross premiums with the contribution accounting for in excess of par value 102,725 102,725 102,725 PT Lippo Securities Tbk, PT Prime East Indonesia
35% amd 14% respectively. Its business network is supported by six branch Retained earnings (accumulated loss) (5,282) 10,946 110,054
offices located in Surabaya, Medan, Palembang, Bandung, Semarang and Revenue 71,516 69,357 75,881
Solo. In undertaking the activities, the company cooperates with compa- Operating Expenses 67,224 89,131 66,206 Stock Price Trading Shares Traded Listed Market
nies affiliated to the Lippo Group and international insurance firms, like Operating Profit (Loss) 4,293 (19,774) 9,675 Month High Low Close Frequency Day Volume Value Shares Capitalization
Other Income (Expenses) (739) 577 46 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
Swiss Re, Munich Re and Union Re. January-04 390 280 350 130 18 861.00 285.00 150,000,000
Profit (Loss) before Taxes 3,553 (19,197) 9,721 52,500.00
Profit (Loss) after Taxes 6,447 (16,598) 10,718 February-04 400 330 350 29 11 418.00 150.00 150,000,000 52,500.00
March-04 345 345 345 1 1 6.00 2.00 150,000,000 51,750.00
Revenue Breakdown April-04 335 300 330 10 6 110.00 35.00 150,000,000 49,500.00
Premium Income 71,516 69,357 75,881 May-04 330 310 330 2 2 12.00 4.00 150,000,000 49,500.00
Investment Income 11,683 (7,496) 18,502 June-04 335 335 335 1 1 7.00 2.00 150,000,000 50,250.00
Expense Breakdown July-04 425 355 390 208 3 1,771.00 700.00 150,000,000 58,500.00
Commissions 9,501 12,955 17,434 August-04 385 360 370 44 11 326.00 123.00 150,000,000 55,500.00
Reinsurance Premiums 27,167 36,963 41,437 September-04 390 340 380 65 10 688.00 252.00 150,000,000 57,000.00
Claims Paid 53,455 63,387 63,366 October-04 440 385 420 107 8 1,002.00 412.00 150,000,000 63,000.00
Others 22,706 29,120 32,017 November-04 530 405 500 300 14 3,781.00 1,753.00 150,000,000 75,000.00
December-04 575 450 550 167 13 1,674.00 914.00 150,000,000 82,500.00
Per Share Data (Rp) January-05 660 500 640 173 10 1,219.00 730.00 150,000,000 96,000.00
Earnings per Share 43 (111) 71 February-05 650 600 620 44 8 151.00 96.00 150,000,000 93,000.00
Equity per Share 1,150 1,258 1,919 March-05 650 620 620 20 7 198.00 125.00 150,000,000 93,000.00
Dividend per Share n.a n.a n.a April-05 560 540 540 3 2 53.00 28.00 150,000,000 81,000.00
Closing Price 490 300 550 May-05 590 460 510 12 5 85.00 42.00 150,000,000 76,500.00
Financial Ratios June-05 630 470 520 40 6 287.00 148.00 150,000,000 78,000.00
PER (x) 11.40 (2.71) 7.70
PBV (x) 0.43 0.24 0.29
Dividend Payout (%) n.a n.a n.a Stock Price (Rp) Thousand Shares
Dividend Yield (%) n.a n.a n.a 700 1
Operating Profit Margin (x) 0.06 n.a 0.13

Net Profit Margin (x) 0.09 n.a 0.14 600
1
Loss Ratio (x) 0.75 0.91 0.84 500
1
Shareholders ROI (%) 2.84 (6.22) 2.74 1
Pacific Asia Holding Ltd. 21.33% ROE (%) 3.74 (8.80) 3.72 300
PT Lippo E-Net Tbk 19.80% 0

PER = 7,28x ; PBV = 0.27x (June 2005) 200
PT Putra Jaya Adiswasthi 9.70% Financial Year: December 31
PT Grahaduta Wiramandiri 9.54% Public Accountant: Prasetio, Sarwoko & Sandjaja 100
0
PT Dutakreasi Primamulia 9.33%

PT Karyamitra Binasukses 9.20% - -
PT Mitranusa Ekamulia 5.33% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 15.77%
PT Lippo General Insurance Tbk. Insurance
Head Office Citra Graha Building 6th Floor Summary of Financial Statement
Jl. Jend. Gatot Subroto Kav. 35-36
2005 2006 2007
Phone (021) 525-6161
Fax (021) 525-7161 Total Assets 449,281 468,470 659,657
E-mail: Lgijkt@centrin.net.id Current Assets 41,808 54,678 56,473
Secretariat@lippogeneral.co.id of which
http://www.lippogeneral.co.id Cash and Cash Equivalents 815 2,018 876
Representative Office Gedung Asuransi Lippo
Pusat Perdagangan Pinangsia Non-Current Assets 407,473 413,792 603,184
Blok I No. 30-35, Lippo Karawaci of which
Phone (021) 5579-0672 Fixed Assets-Net 7,940 7,887 6,993
Fax (021) 5579-0679 Investment 385,201 395,095 582,931
Business Insurance Other Assets 304 323 13,260
Company Status PMDN Liabilities 111,897 104,447 120,371
Financial Performance: Net profit increased to IDR15.399 bil-
of which
lion in 2007, increased compare to last year profit at IDR1.979 bil- Payable to reinsurers 16,143 14,511 26,975
lion. Net revenue increased from IDR133.514 billion to IDR166.116 Taxes payable 86 179 128
billion. Non-Current Liabilities 64,904 60,050 80,503
Brief History: The company formerly named PT Asuransi
Brawidjaja was established in Jakarta in 1963. The name has been Paid-up capital 75,000 75,000 75,000
changed several times the latest one is currently used by the com- Paid-up capital
pany. in excess of par value 102,725 102,725 102,725
The products offered by the company includes services for in- Retained earnings (accumulated loss) 159,659 186,298 361,561
suring automotive, all risk, cash in safe, cash in transit, burglary, Revenue 138,504 133,514 166,116
fire, liability, fidelity guarantee and personal accident. Automo- Operating Expenses 117,527 130,893 150,797
tive and health insurance is the main contributor to the company’s Operating Profit (Loss) 20,977 2,621 15,319
annual gross premiums with the contribution accounting for 35% Other Income (Expenses) 418 1,747 1,272
amd 14% respectively. Its business network is supported by six Profit (Loss) before Taxes 21,395 4,368 16,591
Profit (Loss) after Taxes 20,952 1,979 15,399
branch offices located in Surabaya, Medan, Palembang, Bandung,
Semarang and Solo. In undertaking the activities, the company Revenue Breakdown
cooperates with companies affiliated to the Lippo Group and in- Premium Income 114,085 122,687 131,735
ternational insurance firms, like Swiss Re, Munich Re and Union Investment Income 24,419 10,827 34,381
Re. Expense Breakdown
Commissions 10,100 19,628 20,106
Claims Paid 81,717 97,840 114,624
Others 31,853 31,699 35,068
Per Share Data (Rp)
Equity per Share 2,249 2,427 3,595
Dividend per Share 25 n.a n.a
Financial Ratios
PER (x) 2.72 25.77 5.26
PBV (x) 0.17 0.14 0.15
Dividend Payout (%) 17.90 n.a n.a
Dividend Yield (%) 6.58 n.a n.a
Loss Ratio (x) 0.72 0.80 0.87
Shareholders Solvency Ratio (x) 6.36 6.34 6.59
Pacific Asia Holding Ltd. 21.33% Investment to Total Assets Ratio (x) 0.86 0.84 0.88
PT Lippo E-Net Tbk 19.80% ROI (%) 4.66 0.42 2.33
ROE (%) 6.21 0.54 2.86
PT Putra Jaya Adiswasthi 9.70%
PT Grahaduta Wiramandiri 9.54% PER = 3.94x ; PBV = 0.52x (June 2008)
PT Dutakreasi Primamulia 9.33% Financial Year: December 31
PT Karyamitra Binasukses 9.20% Public Accountant: Hendrawinata Gani & Rekan
PT Mitranusa Ekamulia 5.33%
Public 15.77%

PT Lippo General Insurance Tbk. Insurance

President Commissioner Ganesh Chander Grover President Director Ivan Setiawan Budiono
Commissioners Timoer Soetanto, Purnomo Utoyo Directors Johannes Mardikian Agus, Adhe Aurora Gultom,
Hartono Tjahjana Gunadharma
per Listing Shares
1 First Issue 22-Jul-97 22-Jul-97 51,000,000 51,000,000

2 Company Listing 22-Jul-97 27-Feb-98 99,000,000 150,000,000
Underwriters
PT Lippo Securities Tbk, PT Prime East Indonesia
January-07 425 340 425 104.00 41.00 15 9 150,000,000.00 63,750.00
February-07 850 420 660 45.00 21.00 9 6 150,000,000.00 99,000.00
March-07 0 0 660 0.00 0.00 0 0 150,000,000.00 99,000.00
April-07 500 500 500 137.00 70.00 19 5 150,000,000.00 75,000.00
May-07 550 420 420 69.00 33.00 11 6 150,000,000.00 63,000.00
June-07 520 460 460 41.00 21.00 6 3 150,000,000.00 69,000.00
July-07 840 460 840 1,410.00 1,019.00 150 10 150,000,000.00 126,000.00
August-07 860 450 680 4,289.00 3,436.00 396 15 150,000,000.00 102,000.00
September-07 650 560 600 288.00 174.00 25 9 150,000,000.00 90,000.00
October-07 600 570 570 103.00 60.00 15 9 150,000,000.00 85,500.00
November-07 600 500 510 91.00 50.00 13 8 150,000,000.00 76,500.00
December-07 540 500 540 172.00 89.00 15 6 150,000,000.00 81,000.00
January-08 510 490 490 273.00 136.00 26 6 150,000,000.00 73,500.00
February-08 750 310 600 181.00 104.00 23 9 150,000,000.00 90,000.00
March-08 510 500 510 70.00 35.00 4 2 150,000,000.00 76,500.00
April-08 500 360 500 58.00 28.00 11 5 150,000,000.00 75,000.00
May-08 500 500 500 129.00 64.00 9 6 150,000,000.00 75,000.00
June-08 550 330 455 35.00 17.00 11 4 150,000,000.00 68,250.00

900 3,500
800
3,000
700
2,500
600
500 2,000
400 1,500
300
1,000
200
500
100
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Lippo General Insurance Tbk. LPGI

Established Date : 06-Sep-1963 1. Pacific Asia Holding Ltd. 32,000,000 : 21.33%
Listing Date : 22-Jul-1997 2. PT Star Pacific Tbk. 29,697,500 : 19.80%
Under Writer IPO :
PT Lippo Securities DIVIDEND ANNOUNCEMENT
PT Prime East Indonesia Bonus Cash Cum Ex Recording Payment
Securities Administration Bureau : Year Shares Devidend Date Date Date Date F/I
PT Sharestar Indonesia 1997 30.00 23-Jul-98 24-Jul-98 03-Aug-98 31-Aug-98 F
Citra Graha Building 3rd Fl. 1998 45.00 15-Jul-99 16-Jul-99 26-Jul-99 24-Aug-99 F
Jln. Jend. Gatot Subroto Kav. 35-36 Jakarta 12950 1999 50.00 28-Jul-00 31-Jul-00 08-Aug-00 23-Aug-00 F
Fax : 527-7967 2005 25.00 24-May-06 29-May-06 31-May-06 09-Jun-06 F
2007 21.00 15-May-08 16-May-08 21-May-08 30-May-08 I
BOARD OF COMMISSIONERS 2008 20.00 12-Jun-09 15-Jun-09 17-Jun-09 30-Jun-09 F
1. Ganesh Chander Grover 2009 30.00 08-Jul-10 09-Jul-10 13-Jul-10 26-Jul-10 F
2. Ivan Setiawan Budiono 2010 112.00 12-May-11 13-May-11 18-May-11 31-May-11 F
3. Purnomo Utoyo *)
*) Independent Commissioners ISSUED HISTORY
Listing Trading
BOARD OF DIRECTORS Type of Listing Shares Date Date
1. Agus Benjamin 1. First Issue 51,000,000 22-Jul-97 22-Jul-97
2. Adhe Aurora Gultom 2. Company Listing 99,000,000 22-Jul-97 27-Feb-98
3. Hartono Tjahjana Gunadharma
4. Johannes Mardikian Agus
AUDIT COMMITTEE
1. Purnomo Utoyo
2 Frans Lamury
2.
3. Siswanto Pramono
CORPORATE SECRETARY
Satini Kartika Sari
HEAD OFFICE
Citra Graha Building, 2nd Fl.
Jln. Gatot Subroto Kav. 35 - 36, Jakarta 12950
Phone : (021) 525-6161
Fax : (021) 525-7161
Homepage : www.lippoinsurance.com
Email : corporate.secretary@lippoinsurance.com
TRADING ACTIVITIES
Day
LIPPO GENERAL INSURANCE TBK.
Price* MARCH 2008 - JANUARY 2012 (Mill. Sh) Month High Low Close (X) (Thou. Sh) (Million Rp)
1,925 14 Mar-08 510 500 510 4 70 35 2
Apr-08 500 460 500 11 58 28 5
May-08 500 500 500 9 129 64 6
1,650 12
Jun-08 500 330 455 11 35 17 4
Jul-08 500 355 450 7 37 16 3
1,375 10 Aug-08 - - 450 - - - -
Sep-08 390 300 370 5 55 19 2
Oct-08 - - 370 - - - -
1,100 8 Nov-08 - - 370 - - - -
Dec-08 - - 370 - - - -
Jan-00 - - - - - - -
825 6
Jan-09 - - 370 - - - -
Feb-09 - - 370 - - - -
550 4 Mar-09 - - 370 - - - -
Apr-09 - - 370 - - - -
May-09 400 320 395 6 76 27 2
275 2 Jun-09 465 395 465 4 11 4 4
Jul-09 610 510 570 23 58 30 5
Aug-09 1,070 590 670 11,653 63,573 60,293 15
Mar 08 Mar 09 Mar 10 Mar 11 Sep-09 710 560 580 203 921 554 18
Oct-09 590 530 530 98 788 447 19
Nov-09 620 450 455 55 808 405 13
Dec-09 570 470 570 49 28,713 14,357 11
CHANGE OF CLOSING PRICE Jan-00 - - - - - - -
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Jan-10 600 500 550 40 291 152 12
MARCH 2008 - JANUARY 2012
Feb-10 550 550 550 15 171 94 4
240% 240%
Mar-10 660 450 540 36 250 133 14
Finance Index Apr-10 650 540 600 38 424 248 13
200% 200% May-10 600 450 520 45 528 276 10
Closing Price
Jun-10 610 520 600 213 505 287 13
160% 160% J l 10
Jul-10 730 640 690 48 268 176 11
Aug-10 760 630 760 27 112 79 11
Sep-10 850 740 800 22 109 88 7
120% 120%
Oct-10 1,200 800 1,000 573 2,545 2,588 20
Nov-10 1,100 920 980 122 1,085 1,073 19
80% 80% Dec-10 1,260 980 1,160 220 36,797 41,196 17
Jan-00 - - - - - - -
40% 40% Jan-11 1,460 1,060 1,460 65 772 877 9
Feb-11 1,150 1,060 1,100 25 148 157 7
- -
Mar-11 1,590 1,080 1,530 143 265 376 16
Apr-11 1,630 1,470 1,560 809 1,804 2,842 20
May-11 1,840 1,550 1,720 714 2,177 3,637 21
-40% -40%
Jun-11 1,750 1,510 1,650 124 568 938 18
Jul-11 1,950 1,610 1,870 193 456 832 17
-80% -80% Aug-11 1,890 1,700 1,800 40 132 238 11
Mar 08 Mar 09 Mar 10 Mar 11 Sep-11 1,810 1,660 1,790 17 63 110 7
Oct-11 1,780 1,780 1,780 2 1 2 2
Nov-11 1,700 1,690 1,690 17 29 48 3
SHARES TRADED 2008 2009 2010 2011 Jan-12 Dec-11 1,760 1,590 1,690 6 15 25 3
Volume (Million Shares) 0.4 95 43 6 0.2 Jan-00 - - - - - - -
Value (Billion Rp) 0.2 76 46 10 0.3 Jan-12 1,650 1,590 1,590 29 171 273 10
Frequency (X) 47 12,091 1,399 2,155 29 Feb-12 - - - - - - -
Days 22 87 151 134 10 Mar-12 - - - - - - -
Apr-12 - - - - - - -
Price (Rupiah) May-12 - - - - - - -
High 510 1,070 1,260 1,950 1,650 Jun-12 - - - - - - -
Low 300 320 450 1,060 1,590 Jul-12 - - - - - - -
Close 370 570 1,160 1,690 1,590 Aug-12 - - - - - - -
Close* 370 570 1,160 1,690 1,590 Sep-12 - - - - - - -
Oct-12 - - - - - - -
PER (X) 4.59 3.70 3.22 -18.28 -17.20 Nov-12 - - - - - - -
PER Industry (X) 16.77 13.41 16.00 10.89 11.48 Dec-12 - - - - - - -
PBV (X) 0.09 0.18 0.25 0.38 0.36 Jan-00 - - - - - - -
Jan-13 - - - - - - -
Public Accountant : Kosasih & Nurdiyaman Book End : December

Total Investment 910 670,400 548,440 775,887 752,540
1,000
Cash on hand and in Banks 876 3,846 1,512 3,225 6,183 Assets Liabilities
Other Receivable 3,814 4,035 6,004 23,407 - 600
Fixed Assets 6,993 5,999 9,227 12,769 28,265
Other Assets 274 328 241 246 16,988 400
Total Assets 659,657 724,797 616,237 883,223 899,128

200
Growth (%) 9.87% -14.98% 43.33% 1.80%
-
Claims payable 810 749 1,318 2,131 3,721 2007 2008 2009 2010 Sep-11
Taxes payable 128 236 298 1,989 4,688
Growth (%) 10.36% -0.08% 42.22% 22.83% 694
667
592
Paid up Capital 75,000 75,000 75,000 75,000 75,000 484
556

417
Par Value 500 500 500 500 500

Total Equity 539,286 591,959 483,501 694,446 667,247

Growth (%) 9.77% -18.32% 43.63% -3.92% 139
2007 2008 2009 2010 Sep-11

Growth (%) 10.07% 10.29% 30.95%
Underwriting Expenses 125,978 125,424 136,952 205,839 175,683 226 220

226

156
181
Operating Expenses 35,068 38,099 43,072 46,223 36,350 142

Growth (%) -27.23% 97.23% 215.53%

90
Others Income 1,272 3,647 2,600 383 1,259

45

Tax 1,193 2,701 1,461 15,702 11,071 -
Net Income 15,399 12,094 23,127 54,059 -10,398 2007 2008 2009 2010 Sep-11
Growth (%) -21.46% 91.23% 133.75%

Dividend (Rp) 21.00 20.00 30.00 112.00 - 54
EPS (Rp) 102.66 80.63 154.18 360.39 -69.32

BV (Rp) 3,595.24 3,946.39 3,223.34 4,629.64 4,448.31
41
DAR (X) 0.18 0.18 0.22 0.21 0.26

28
23
DER(X) 0.22 0.22 0.27 0.27 0.35
15
ROA (%) 2.52 2.04 3.99 7.90 5.47 15
12
ROE (%) 3.08 2.50 5.09 10.05 7.37
OPM (%) 10.79 7.13 12.76 30.74 21.81 2
NPM (%) 10.85 7.74 13.42 23.95 -4.73 2007 2008 2009 2010 Sep-11
Payout Ratio (%) 20.46 24.81 19.46 31.08 -
-10
-10
Yield (%) 3.89 5.41 5.26 9.66 -
PT Maskapai Reasuransi Indonesia (Marein) Tbk. Insurance PT Maskapai Reasuransi Indonesia (Marein) Tbk. Insurance
Head Office Graha MAREIN Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Palmerah Utara No. 100 President Commissioner Suhanda wiraatmadja, SE President Director A. Gusnaeni, SH, MBA
Jakarta 11480 (million rupiah) Commissioners M. Ridwan Sadjadi, SE, R. A. Wuwungan Directors Roni Widjaja, SE, Moelyanto Soewito, SE
Phone (021) 532-0464 (Hunting), 2002 2003 2004 Drs. Ngadiono, FASI
532-0458, 532-463 Total Assets 104,112 115,108 121,768
Fax (021) 532-0451, 532-0453, Current Assets 31,085 29,900 20,775 Number of Employees 82
532-0455, 532-0457 of which
E-mail: marein@marein.co.id Cash on hand and in banks 715 686 417
Business Reinsurance Retrocession from receivables 10,308 8,601 5,441
Company Status PMDN Non-Current Assets 73,027 85,208 100,993
of which per Listing Shares
PT. Maskapai Reasuransi Indonesia Tbk. Fixed Assets-Net 8,012 7,705 8,263
Net income in 2004 was at Rp 2.261 billion, Deffered Tax Assets-Net 646 n.a n.a
down significantly from last year income at Rp 10.248 billion. Investments 63,949 77,225 80,143 2 Right Issue 29-May-90 29-May-90 600,000 2,600,000
Founded in 1953, the major shareholders are PT Dharmala Other Assets 420 278 12,587 3 Company listing 23-Jul-92 23-Jul-92 6,500,000 9,100,000
Sakti Sejahtera and AJB Bumiputera 1912. The company has relationships Liabilities 71,492 74,697 81,614 4 Bonus Shares 16-May-94 16-May-94 9,100,000 18,200,000
with all non-life and life domestic insurance companies. In conducting its Current Liabilities 19,615 19,369 20,507 5 Stock Split 25-Aug-97 25-Aug-97 18,200,000 36,400,000
operations, the company has established a strategic alliance with Lincoln of which 6 Stock Split 08-Aug-00 08-Aug-00 54,600,000 91,000,000
Payable to reinsurers 13,264 5,554 8,434 7 Devidend Shares 01-Jul-04 01-Jul-04 18,200,000 109,200,000
National Reinsurance Cos., Fort Wayne-USA and have retrocession rela- Retrocession payables 5,632 7,602 9,323
tionship with major mega reinsurance such as Manulife Reinsurance, 8 Bonus Shares 01-Jul-04 01-Jul-04 9,100,000 118,300,000
Toronto-Canada, Munich Reinsurance Co., Munich-Germany, Swiss Re- 9 Pre-emptive Rights 29-Apr-05 29-Apr-05 197,166,666 315,466,666
insurance Co, Zurich-Switzerland, Mercantile & General Reinsurance Plc., Paid-up capital 18,200 18,200 23,660 Underwriter
London-England, Malaysian National Reinsurance Berhard, Kuala Lumpur, Paid-up capital PT MERINCORP (IPO)
Skandia International, Stockholm-Swedia, Mapfre Reinsurance, Madrid- in excess of par value 2,509 2,509 4,329
Spain.
Revenue 71,376 85,588 93,771 Stock Price Trading Shares Traded Listed Market
Operating Expenses 66,172 72,643 89,350 Month High Low Close Frequency Day Volume Value Shares Capitalization
Operating Profit 5,204 12,945 4,421 (Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
Other Income (Expenses) (1,497) 144 (1,937) January-04 390 360 375 67 17 652.00 244.00 91,000,000 34,125.00
Profit before Taxes 3,707 13,089 2,484 February-04 390 345 350 66 14 945.00 340.00 91,000,000 31,850.00
Profit after Taxes 4,112 10,248 2,261 March-04 360 320 335 24 8 371.00 128.00 91,000,000 32,305.00
April-04 400 340 400 109 13 1,204.00 456.00 91,000,000 36,400.00
Revenue Breakdown May-04 445 350 400 160 17 2,573.00 1,053.00 91,000,000 36,400.00
Premium Income 124,237 126,882 125,579 June-04 410 275 275 59 14 1,189.00 429.00 91,000,000 25,025.00
Invesment Income 6,977 7,359 7,127 July-04 300 270 270 15 7 571.00 171.00 118,300,000 31,941.00
Expense Breakdown August-04 295 265 275 64 10 1,507.00 410.00 118,300,000 32,533.00
Retrocession Premiums 57,807 45,439 38,639 September-04 300 255 300 16 5 280.00 81.00 118,300,000 35,490.00
Claims Paid 40,561 33,546 47,606 October-04 305 245 245 41 8 699.00 206.00 118,300,000 28,984.00
Others 29,139 42,455 40,103 November-04 280 255 280 7 5 38.00 10.00 118,300,000 33,124.00
December-04 340 260 290 343 16 4,324.00 1,346.00 118,300,000 34,307.00
Per Share Data (Rp) January-05 315 285 290 77 13 641.00 187.00 118,300,000 34,307.00
Earnings per Share 45 113 19 February-05 300 280 290 41 12 437.00 126.00 118,300,000 34,307.00
Equity per Share 358 444 339 March-05 300 240 250 105 17 1,806.00 497.00 118,300,000 29,575.00
Dividend per Share 27 30 5 April-05 275 185 200 272 15 2,231.00 489.00 315,466,666 63,093.00
Closing Price 130 340 290 May-05 205 185 205 18 7 217.00 42.00 315,466,666 64,671.00
June-05 200 175 195 46 10 293.00 53.00 315,466,666 61,516.00
Financial Ratios
PER (x) 2.88 3.02 15.17
PBV (x) 0.36 0.77 0.85
Dividend Payout (%) 59.75 26.64 26.16 Stock Price (Rp) Thousand Shares
Dividend Yield (%) 20.77 8.82 1.72 500 1

400
Loss Ratio (x) 0.33 0.26 0.38 350
0
300
Invesment to Total Assets Ratio (x) 0.62 0.68 0.66
ROI (%) 3.95 8.90 1.86 250 0
ROE (%) 12.61 25.36 5.63
200
0
PER = 10,20x ; PBV = 0.57x (Juni 2005) 150
Shareholders
Financial Year: December 31 100
ABN AMRO Bank N.V., Singapura 24.89% Public Accountant: Aryanto Amir Yusuf & Mawar 0
Asuransi Jiwa Bersama Bumiputera 1912 17.10% 50
Felicity Gold Corporation 15.96% - -

PT Pioneerindo Gourmet International Tbk 9.28% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 32.77%
PT Maskapai Reasuransi Indonesia Tbk. Insurance
Head Office Graha MAREIN 18th Floor Summary of Financial Statement

Jl. Jend. Sudirman Kav. 76-78
Phone (021) 5793-6588 (Hunting), 2005 2006 2007
5796-6575-79 Total Assets 169,731 161,350 196,420
Fax (021) 5793-6580-83 Current Assets 25,728 19,769 25,050
E-mail: marein@marein-re.com of which
Website: www.marein-re.com Cash and Cash Equivalents 226 1,246 523
Business Reinsurance
Retrocession from receivables 3,835 1,414 5,441
Company Status PMDN Non-Current Assets 144,003 141,581 171,370
of which
Financial Performance: The Company booked net profit at Fixed Assets-Net 8,225 17,475 18,032
IDR12.587 billion in 2007, or increased from IDR9.562 billion in Investments 107,312 122,635 144,518
2006. Other Assets 28,466 1,471 8,820
Brief History: Founded in 1953, the major shareholders are PT Liabilities 91,542 73,320 98,316
Dharmala Sakti Sejahtera and AJB Bumiputera 1912. The company Current Liabilities 20,591 10,132 24,457
has relationships with all non-life and life domestic insurance com- of which
panies.
Retrocession payables 13,953 5,626 12,415
In conducting its operations, the company has established a Non-Current Liabilities 70,951 63,188 73,859
strategic alliance with Lincoln National Reinsurance Cos., Fort
Wayne-USA and have retrocession relationship with major mega
Paid-up capital 63,093 63,093 63,093
reinsurance such as Manulife Reinsurance, Toronto-Canada, Paid-up capital
Munich Reinsurance Co., Munich-Germany, Swiss Reinsurance in excess of par value 3,447 3,447 3,447
Co, Zurich-Switzerland, Mercantile & General Reinsurance Plc., Retained earnings 11,649 21,490 31,564
London-England, Malaysian National Reinsurance Berhard, Kuala Revenue 79,480 96,009 116,126
Lumpur, Skandia International, Stockholm-Swedia, Mapfre Rein- Operating Expenses 75,261 85,509 105,139
surance, Madrid-Spain. Operating Profit 4,219 10,500 10,987
Other Income (Expenses) (708) (1,756) 1,234
Revenue Breakdown
Premium Income 157,574 189,683 244,128
Invesment Income 6,960 9,045 10,169
Expense Breakdown
Retrocession Premiums 48,390 63,862 85,449
Claims Paid 60,320 68,017 83,985
Others 63,078 73,357 98,394
Per Share Data (Rp)

Dividend per Share n.a 10
Financial Ratios
PER (x) 14.79 4.95 5.64
PBV (x) 0.67 0.54 0.72
Dividend Payout (%) n.a 32.99 0.00
Dividend Yield (%) n.a 6.67 0.00

Loss Ratio (x) 0.38 0.36 0.34
Invesment to Total Assets Ratio (x) 0.63 0.77 0.74
ROI (%) 2.07 5.93 6.41
ROE (%) 4.50 10.86 12.83
PER = 5.99x ; PBV = 0.79x (Juni 2008)

ABN AMRO Bank N.V., Singapore 30.32% Public Accountant: Aryanto Amir Yusuf & Mawar
Coutts Bank von Ernst Ltd. Singapore 21.01%
AJB Bumiputera 1912 19.69%
Felicity Gold Corporation 5.98%
UBS AG, Hongkong 5.07%
Public 17.93%

PT Maskapai Reasuransi Indonesia Tbk. Insurance

President Commissioner DR. Tjan Soen Eng President Director Drs. Robby Loho, AAI-K, APAI, CIIB
Commissioners Hardjono, SE, MM, ASAI, AAI-J, Directors Roni Widjaja, SE, Achmad Hadad Rauf, SH,
Herlani Sunardi, SE., Ak Dirman Pardosi
per Listing Shares

2 Right Issue 29-May-90 29-May-90 600,000 2,600,000
3 Company listing 23-Jul-92 23-Jul-92 6,500,000 9,100,000
4 Bonus Shares 16-May-94 16-May-94 9,100,000 18,200,000
5 Stock Split 25-Aug-97 25-Aug-97 18,200,000 36,400,000
6 Stock Split 08-Aug-00 08-Aug-00 54,600,000 91,000,000
7 Devidend Shares 1-Jul-04 1-Jul-04 18,200,000 109,200,000
8 Bonus Shares 1-Jul-04 1-Jul-04 9,100,000 118,300,000
9 Pre-emptive Rights 29-Apr-05 29-Apr-05 197,166,666 315,466,666
Underwriter
PT MERINCORP (IPO)
January-07 155 130 155 1,164.00 159.00 78 14 315,466,666.00 48,897.00
February-07 200 135 150 123.00 19.00 10 7 315,466,666.00 47,320.00
March-07 200 130 141 16,092.00 2,015.00 23 5 315,466,666.00 44,481.00
April-07 160 121 160 16,021.00 2,003.00 6 3 315,466,666.00 50,475.00
May-07 285 165 255 26,541.00 6,861.00 1089 20 315,466,666.00 80,444.00
June-07 250 200 240 729.00 159.00 42 11 315,466,666.00 75,712.00
July-07 250 215 240 1,385.00 328.00 80 11 315,466,666.00 75,712.00
August-07 250 150 182 188.00 36.00 9 6 315,466,666.00 57,415.00
September-07 240 185 235 2,058.00 487.00 12 3 315,466,666.00 74,135.00
October-07 215 185 200 219.00 43.00 32 3 315,466,666.00 63,093.00
November-07 240 200 200 95.00 19.00 11 6 315,466,666.00 63,093.00
December-07 225 170 225 66,433.00 13,288.00 15 6 315,466,666.00 70,980.00
January-08 200 170 199 125.00 22.00 8 5 315,466,666.00 62,778.00
February-08 0 0 199 0.00 0.00 0 0 315,466,666.00 62,778.00
March-08 219 200 200 11.00 2.00 3 1 315,466,666.00 63,093.00
April-08 175 130 160 84.00 12.00 13 2 315,466,666.00 50,475.00
May-08 285 170 205 146.00 31.00 27 11 315,466,666.00 64,671.00
June-08 330 190 250 47,053.00 13,223.00 1,940 17 315,466,666.00 78,867.00

300 45
40
250
35
200 30
25
150
20
100 15
10
50
5
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Maskapai Reasuransi Ind. Tbk. MREI
Industry Sub Sector : Insurance (84) Market Capitalization : 295,141,258,360

Established Date : 04-Jun-1953 1. Coutts And Co Ltd. Singapore 81,606,104 : 21.01%
Listing Date : 04-Sep-1989 2. AJB Bumiputera 1912 76,816,535 : 19.78%
Under Writer IPO : 3. PT Asuransi Bina Dana Artha Tbk. 57,280,864 : 14.75%
PT Merchant Investment Corporation 4. ABN Amro Nominees Singapore Pte. Ltd. 46,947,980 : 12.09%
PT Bank Pembangunan Indonesia 5. Felicity Gold Corporation 23,230,971 : 5.98%
Securities Administration Bureau : 6. Sukarto Bujung 21,958,000 : 5.65%
PT Blue Chip Mulia 7. Barclays Bank Plc. Hong Kong - Wealth Management 19,696,256 : 5.07%
Bina Mulia Building I, 4th Fl.
Jln. HR. Rasuna Said Kav. 10, Jakarta 12950 DIVIDEND ANNOUNCEMENT
Phone : 520-1928, 1983, 1993, 1989 Bonus Cash Cum Ex Recording Payment
Fax : 520-1924 Year Shares Devidend Date Date Date Date F/I
1989 71.00 08-Jun-90 11-Jun-90 16-Jun-90 25-Jun-90 F
BOARD OF COMMISSIONERS 1990 108.00 14-Jun-91 17-Jun-91 22-Jun-91 29-Jun-91 F
1. Tjan Soen Eng 1991 65.00 12-Jun-92 15-Jun-92 22-Jun-92 29-Jun-92 F
2. Nasir Ilmullah 1992 81.00 18-Jun-93 22-Jun-93 30-Jun-93 12-Jul-93 F
3. Sarkoro Handajani *) 1994 1:1 18-Mar-94 21-Mar-94 28-Mar-94 28-Apr-94
1994 41.00 22-Jun-95 23-Jun-95 03-Jul-95 03-Aug-95 F
BOARD OF DIRECTORS 1995 79.00 19-Jun-96 20-Jun-96 28-Jun-96 26-Jul-96 F
1. Robby Loho 1996 98.00 16-May-97 19-May-97 28-May-97 26-Jun-97 F
2. Achmad Hadad Rauf 1997 102.00 04-Jun-98 05-Jun-98 15-Jun-98 14-Jul-98 F
3. Agus Muharam 1998 69.00 03-Jun-99 04-Jun-99 14-Jun-99 13-Jul-99 F
4. Ronni Widjaja 1999 63.00 02-Jun-00 05-Jun-00 13-Jun-00 19-Jun-00 F
2000 8.00 21-Jun-01 22-Jun-01 27-Jun-01 11-Jul-01 F
AUDIT COMMITTEE 2001 25.00 03-Jul-02 04-Jul-02 09-Jul-02 23-Jul-02 F
1. Sarkoro Handajani 2002 27.00 10-Jul-03 11-Jul-03 15-Jul-03 29-Jul-03 F
2. Herlani Sunardi 2003 5:1 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
2003 30.00 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
CORPORATE SECRETARY 2003 10 : 1 18-Jun-04 21-Jun-04 23-Jun-04 07-Jul-04 F
S. Nurwati Farini Danardono 2005 5.00 16-Jun-05 17-Jun-05 21-Jun-05 05-Jul-05
2005 5.00 20-Jul-06 21-Jul-06 25-Jul-06 08-Aug-06 F
HEAD OFFICE 2006 10.00 21-Jun-07 22-Jun-07 26-Jun-07 10-Jun-07 F
Plaza Marein, 18th Floor 2007 15.00 19-Jun-08 18-Jun-08 23-Jun-08 07-Jul-08 F
Phone : 2009 18.00 17-Mar-10 18-Jun-10 22-Jun-10 06-Jul-10 F
Fax :
ISSUED HISTORY
Homepage : - Listing Trading
Email : merein@idola.net.id Type of Listing Shares Date Date
1. First Issue 2,000,000 04-Sep-89 04-Sep-89
2. Right Issue 600,000 29-May-90 29-May-90
3. Company listing 6,500,000 23-Jul-92 23-Jul-92
4. Bonus Shares 9,100,000 16-May-94 16-May-94
5. Stock Split 18,200,000 25-Aug-97 25-Aug-97
6. Stock Split 54,600,000 08-Aug-00 08-Aug-00
7. Dividen Shares 18,200,000 01-Jul-04 01-Jul-04
8. Bonus Shares 9,100,000 01-Jul-04 01-Jul-04
9. Right Issue 197,166,666 29-Apr-05 29-Apr-05
10. Dividen Shares 55,670,588 04-Aug-09 04-Aug-09
11. Bonus Shares 17,207,272 04-Aug-09 04-Aug-09
12. Adj. of the number of -765 12-Jan-11 12-Jan-11
shares from revision
Dividen & Bonus Shares
listed share
TRADING ACTIVITIES
Day
MASKAPAI REASURANSI IND. TBK.
1,225 42 Jan-08 200 170 199 8 125 22 5
Feb-08 - - 199 - - - -
Mar-08 219 200 200 3 11 2 1
1,050 36
Apr-08 175 160 160 13 84 12 2
May-08 285 170 205 27 146 31 11
875 30 Jun-08 330 190 250 1,940 47,053 13,223 17
Jul-08 275 240 240 326 5,354 1,397 12
Aug-08 240 220 235 29 1,463 349 10
700 24 Sep-08 280 225 280 28 1,175 302 6
Oct-08 270 270 270 1 1 0 1
Nov-08 245 162 162 14 7 1 10
525 18
Dec-08 174 98 174 30 10,163 729 9
Jan-00 - - - - - - -
350 12 Jan-09 170 157 170 7 9,965 707 6
Feb-09 210 200 200 2 8 2 2
Mar-09 210 170 210 37 1,362 249 6
175 6 Apr-09 350 170 255 28 1,800 455 12
May-09 280 255 280 18 693 192 10
Jun-09 320 280 320 16 960 273 6
Aug-09 255 255 255 1 1 0 1
Sep-09 260 250 260 6 54 14 4
Oct-09 300 250 285 21 231 65 13
Jan-00 - - - - - - -
510% 510%
Jan-10 325 295 300 5 168 50 4
Jakarta Composite Index Feb-10 - - 300 - - - -
Finance Index
425% 425% Mar-10 300 300 300 8 796 239 5
Closing Price
Apr-10 300 300 300 6 136 41 3
May-10 325 315 325 5 20 6 4
340% 340% Jun-10 350 350 350 14 698 244 5
Jul-10 435 350 435 5 97 34 3
Aug-10 500 380 500 10 268 120 6
255% 255%
Sep-10 500 500 500 46 654 327 4
Oct-10 650 500 650 5 134 82 4
170% 170% Nov-10 740 650 650 4 108 70 3
Dec-10 550 550 550 3 254 138 2
Jan-00 - - - - - - -
85% 85%
Jan-11 880 455 880 6 7 5 5
Feb-11 1,100 500 550 51 921 539 15
- - Mar-11 770 550 700 16 1,145 655 7
Apr-11 770 530 670 34 37 25 13
May-11 660 550 640 47 423 262 16
-85% -85% Jun-11 670 540 630 39 511 313 12
Jul-11 860 600 800 133 2,283 1,478 10
Aug-11 810 620 620 41 413 323 9
Sep-11 630 500 510 17 13 7 6
Volume (Million Shares) 66 15 3 8 0.4 Nov-11 890 710 770 28 2,119 1,699 14
Value (Billion Rp) 16 2 1 6 0.3 Dec-11 770 760 760 7 301 231 6
Frequency (X) 2,419 155 111 435 38 Jan-00 - - - - - - -
Days 84 67 43 121 12 Jan-12 800 760 760 38 421 321 12
Feb-12 - - - - - - -
High 330 350 740 1,100 800 Apr-12 - - - - - - -
Low 98 157 295 455 760 May-12 - - - - - - -
Close 174 285 550 760 760 Jun-12 - - - - - - -
Close* 141 285 550 760 760 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 2.60 3.49 4.64 4.98 4.98 Sep-12 - - - - - - -
PBV (X) 0.48 0.78 1.17 1.36 1.36 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : RSM Aryanto, Amir Jusuf, Mawar & Saptoto (Member of RSM International) Book End : December

Cash on hand and in Banks 523 4,721 38,963 64,597 86,567 Assets Liabilities
Premium Receivables - - - - - 500
Other Receivable - - - - - 375
Fixed Assets 18,032 17,424 17,465 20,360 19,773

250
Other Assets 9,067 13,145 12,436 10,048 10,425
Total Assets 196,420 258,600 337,850 445,083 543,830
125
Growth (%) 31.66% 30.65% 31.74% 22.19%
-
Claims payable - - - - - 2007 2008 2009 2010 Sep-11

Taxes payable 111 4,955 4,261 3,461 7,593
Growth (%) 46.30% 35.82% 34.55% 19.94% 218
218
182
Authorized Capital 90,000 90,000 90,000 90,000 90,000
Paid up Capital 63,093 63,093 77,669 77,669 77,669
174
142
131
115
Par Value 200 200 200 200 200 98
Total Equity 98,105 114,764 142,486 182,230 217,561

Growth (%) 16.98% 24.16% 27.89% 19.39% 44
2007 2008 2009 2010 Sep-11

Growth (%) 43.73% 44.70% 23.37%

381
Underwriting Income 21,972 38,312 42,474 56,885 62,812 325

309

213
Growth (%) 154.61% 41.18% 23.80% 148

152
Others Income 1,234 981 -399 5,236 3,285

76

Tax -366 7,806 7,360 8,128 9,676 -
Net Income 12,587 21,151 31,736 46,003 44,476 2007 2008 2009 2010 Sep-11
Growth (%) 68.03% 50.05% 44.95%

44
Dividend (Rp) 15.00 15.00 18.00 - - 46
EPS (Rp) 39.90 67.05 81.72 118.46 114.53

BV (Rp) 310.98 363.79 366.91 469.25 560.23 32
37
DAR (X) 0.50 0.56 0.58 0.59 0.58

28
DER(X) 1.00 1.25 1.37 1.44 1.45 21

ROA (%) 6.22 11.20 11.57 12.16 9.96 18
13
ROE (%) 12.46 25.23 27.44 29.70 24.89
OPM (%) 7.41 13.12 12.80 12.84 15.65 9
NPM (%) 8.48 9.92 10.28 12.08 13.68

Payout Ratio (%) 37.59 22.37 22.03 - -
-
2007 2008 2009 2010 Sep-11

Yield (%) 6.67 8.62 6.32 - -
PT Panin Insurance Tbk. Insurance PT Panin Insurance Tbk. Insurance
Head Office Panin Bank Plaza 6 th Floor Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Palmerah Utara No. 52 President Commissioner Mu’min Ali Gunawan President Director Suwirjo Josowidjojo
Jakarta 11480 (million rupiah) Vice President Commissioner Fadjar Gunawan Vice President Director Syamsul Hidayat
2002 2003 2004 Commissioners Sjarif Ariffin, Akijat Lukito, Jimmy Sukrisno Director Karel Fitrianto
Phone (021) 548-0669, 5367-6747,
536-0755 Total Assets 1,570,338 1,967,202 3,073,405
Fax (021) 548-4047, 530-8015 Current Assets 92,074 70,178 141,146 Number of Employees 118
Email: pnin@panininsurance.co.id of which
Business Insurance No Type of Listing Listing Date Trading Date Number of Shares Total Listed
Company Status PMDN Receivable from reinsurers 699 171 811 per Listing Shares
Non-Current Assets 1,478,264 1,897,024 2,932,259 1 First Issue 20-Sep-83 20-Sep-83 765,000 765,000
PT. Panin Insurance Tbk. of which 2 Private Placement 20-Sep-89 20-Sep-89 284,000 1,049,000
Net income was booked at Rp 244 billion in Fixed Assets-Net 6,671 5,824 7,985 3 Bonus Shares 20-Aug-90 20-Aug-90 104,176 1,153,176
4 Bonus Shares 1992 1992 15,521,698 16,674,874
2004, up from last year income at Rp 172 billion. Deffered Tax Assets 3,261 15,031 38,791 5 Bonus Shares II 1993 1993 73,432,496 90,107,370
PT Panin Insurance Tbk (formerly known PT Pan Union Investments 1,449,458 1,864,605 2,872,138 6 Stock Split 18-Nov-96 18-Nov-96 90,107,370 180,214,740
Other Assets 18,874 11,564 13,345 7 Right Issue 09-Jan-97 09-Jan-97 300,357,900 480,572,640
Insurance Ltd) was established in 1973 and started operation as a general 8 Warrant I 23-Jul-97 23-Jul-97 8,834 480,581,474
insurance company. The Company forms part of Panin business group. In Liabilities 536,169 693,505 1,109,672 9 Warrant I 13-Aug-97 13-Aug-97 51,834 480,633,308
10 Warrant I 19-Aug-97 19-Aug-97 24,701 480,658,009
1983, the Company went public aiming to build up its capital structure Current Liabilities 62,146 67,507 89,133 11 Right Issue 13-Jul-98 13-Jul-98 205,996,290 686,654,299
of which 12 Warrant I 25-May-99 25-May-99 3,334 686,657,633
and business development. The Company also listed all of its shares in Jakarta
Payable to reinsurers 5,208 6,561 7,430 13 Right Issue 05-Jul-99 05-Jul-99 500,095,905 1,186,753,538
Stock Exchange and Surabaya Stock Exchange. In 1996, the Company un- Taxes payable 1,319 1,035 1,937 14 Warrant I 06-Jul-99 06-Jul-99 2,367 1,186,755,905
dertook stock split from Rp 1,000 per share to Rp 500 per share. In pur- 15 Warrant III 14-Apr-00 14-Apr-00 1,500 1,186,757,405
Dividen payable 20 32 31 16 Warrant III 14-Aug-00 14-Aug-00 6 1,186,757,411
pose of its capital stucture consolidation, the Company carried out Limited Non-Current Liabilities 474,023 625,998 1,020,539 17 Stock Split 03-Jun-03 03-Jun-03 1,186,757,411 2,373,514,822
Public Offering respectively in 1989, 1996, 1998, and 1999, emerging the Minority Interests in Subsidiaries 128,399 145,164 519,811
Underwriters
CompanyÕs paid-up capital to Rp 593.38 billion. In 1999, the Company Shareholders' Equity 905,770 1,128,533 1,443,923 PT MIFC, PT (Persero) Danareksa, PT MULTICOR, PT Inter-Pacific Finance Corporation, PT FICONESIA
has restructed its investment by selling PT Bank Panin TbkÕs share to PT Paid-up capital 592,585 591,326 592,058
Paid-up capital Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Panin Life Tbk and by increasing its investment in PT Panin Life Tbk from
62.37% to 92.52%. In accordance to decision agreed in the General Meet-
Retained earnings 289,010 512,123 826,483 Stock Price Trading Shares Traded Listed Market
ing of Shareholders on 14 September 2001, the Company within 18 months Month High Low Close Frequency Day Volume Value Shares Capitalization
has conducted stock buy back of its 4,104,500 worth of Rp 586 million. Revenue 390,356 760,587 1,242,103
January-04 420 330 390 3,599 20 209,082.00 77,566.00 2,373,514,822 925,671.00
Operating Profit (Loss) 51,488 169,251 296,451
February-04 395 365 370 1,645 18 72,095.00 27,525.00 2,373,514,822 878,200.00
Other Income (Expenses) 4,337 5,221 373
March-04 370 295 310 1,171 22 36,128.00 12,044.00 2,373,514,822 735,790.00
April-04 360 310 320 1,103 20 36,543.00 12,396.00 2,373,514,822 759,525.00
May-04 325 225 240 628 18 17,429.00 4,635.00 2,373,514,822 569,644.00
Revenue Breakdown June-04 240 190 190 234 19 11,863.00 2,364.00 2,373,514,822 450,968.00
Premium Income 353,541 563,589 861,864 July-04 230 175 205 930 21 33,174.00 6,842.00 2,373,514,822 486,571.00
Investment Income 55,801 217,596 409,628 August-04 235 200 225 493 20 17,039.00 3,813.00 2,373,514,822 534,041.00
September-04 295 230 285 1,674 20 180,140.00 50,544.00 2,373,514,822 676,452.00
Expense Breakdown
October-04 310 260 290 1,449 21 82,820.00 23,989.00 2,373,514,822 688,319.00
Commissions 17,217 20,195 25,553
November-04 335 290 335 1,041 17 46,934.00 14,737.00 2,373,514,822 795,127.00
December-04 340 300 320 833 21 119,222.00 38,152.00 2,373,514,822 759,525.00
Claims Paid 256,267 504,520 851,289
January-05 460 315 405 3,295 19 298,837.00 122,091.00 2,373,514,822 961,274.00
Others 69,057 68,832 73,451
February-05 455 400 425 1,787 18 195,514.00 83,826.00 2,373,514,822 1,008,744.00
Per Share Data (Rp) March-05 440 385 385 1,537 21 109,969.00 46,371.00 2,373,514,822 913,803.00
Earnings per Share 22 73 103 April-05 415 335 345 933 20 45,996.00 17,878.00 2,373,514,822 818,863.00
Equity per Share 382 477 585 May-05 345 280 305 1,115 20 40,983.00 12,618.00 2,373,514,822 723,922.00
Dividend per Share n.a n.a 5 June-05 355 300 325 1,209 22 40,253.00 13,431.00 2,373,514,822 771,392.00
Closing Price 155 340 320 Stock Price and Traded Chart
Financial Ratios Stock Price (Rp) Thousand Shares
PER (x) 6.94 4.66 3.10 500 40
PBV (x) 0.41 0.71 0.55
Dividend Payout (%) n.a n.a 0.05 450
35
Dividend Yield (%) n.a n.a 0.01 400
30
300
Loss Ratio (x) 0.72 0.90 0.99 250 20
200
Shareholders ROI (%) 3.37 8.77 7.96 150
PT Panincorp 23.98% ROE (%) 5.84 15.28 16.95 10
100
PT Asuransi Multi Artha Guna 12.36% 5
PER = 3,14x ; PBV = 0.56x (June 2005) 50
Crystal Chain Holdings Ltd. 11.42%
PT Famlee Invesco 8.50% - -
Public Accountant: Drs. Thomas, Trisno, Hendang & Co. (2003); Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun-
Omnicourt Group Limited 5.48% Eddy Kaslim (2004) 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 38.26%
PT Panin Insurance Tbk. Insurance
Head Office Panin Bank Plaza 6th Floor Summary of Financial Statement
Jl. Palmerah Utara No. 52
Phone (021) 548-0669 2005 2006 2007
Fax (021) 548-4047, 530-8015 Total Assets 3,656,440 5,832,042 7,346,979
Email: pnin@panininsurance.co.id Current Assets 598,896 591,528 239,100
Business Insurance of which
Company Status PMDN Cash and Cash Equivalents 23,606 50,579 58,555
Financial Performance: The Company booked net profit at Receivable from reinsurers 105 961 382
Non-Current Assets 3,057,544 5,240,514 7,107,879
IDR341.599 billion in 2007, or slightly increased from IDR303.396
of which
billion in 2006. Net revenue increased to IDR2.307 trillion from Fixed Assets-Net 33,950 33,033 33,939
IDR1.802 trillion. Deffered Tax Assets 49,286 46,274 46,274
Brief History: Investments 2,954,758 5,143,869 7,170,412
PT Panin Insurance Tbk (formerly known PT Pan Union Insur- Other Assets 19,550 17,338 23,414
ance Ltd) was established in 1973 and started operation as a gen- Liabilities 1,030,488 1,710,419 2,590,794
eral insurance company. The Company forms part of Panin busi- Current Liabilities 102,392 91,491 118,124
ness group. In 1983, the Company went public aiming to build up of which
its capital structure and business development. Taxes payable 1,775 3,900 3,434
The Company also listed all of its shares in Jakarta Stock Ex- Dividen payable 28 37 37
change and Surabaya Stock Exchange. In 1996, the Company un- Non-Current Liabilities 928,096 1,618,928 2,472,670
dertook stock split from Rp 1,000 per share to Rp 500 per share. In Minority Interests in Subsidiaries 1,198,071 1,898,695 2,156,096
purpose of its capital stucture consolidation, the Company car- Shareholders' Equity 1,427,881 2,222,928 2,600,089
ried out Limited Public Offering respectively in 1989, 1996, 1998, Paid-up capital 592,058 1,015,800 1,015,885
and 1999, emerging the Company’s paid-up capital to Rp 593.38 Paid-up capital
billion. In 1999, the Company has restructed its investment by sell-
Retained earnings 810,441 1,182,208 1,559,284
ing PT Bank Panin Tbk’s share to PT Panin Life Tbk and by in-
creasing its investment in PT Panin Life Tbk from 62.37% to 92.52%. Revenue 864,297 1,802,851 2,307,743
Operating Expenses 738,381 1,357,877 1,755,337
In accordance to decision agreed in the General Meeting of Share-
Operating Profit (Loss) 125,916 444,974 552,406
holders on 14 September 2001, the Company within 18 months Other Income (Expenses) 3,858 6,790 2,835
has conducted stock buy back of its 4,104,500 worth of Rp 586 Profit before Taxes 129,774 451,764 555,241
million. Profit after Taxes 40,561 303,396 341,599
Revenue Breakdown
Premium Income 661,347 1,265,800 1,634,539
Expense Breakdown
Commissions 30,017 21,313 16,087
Claims Paid 617,022 1,244,487 1,618,452
Others 95,657 88,327 112,159
Per Share Data (Rp)

Financial Ratios
PER (x) 15.47 3.75 3.93
PBV (x) 0.44 0.51 0.52

Shareholders Loss Ratio (x) 0.93 0.98 0.99
PT Panincorp 29.71% Solvency Ratio (x) 2.25 1.81 1.62
PT Famlee Invesco 18.28% ROI (%) 1.11 5.20 4.65
Crystal Chain Holdings Ltd. 9.68% ROE (%) 2.84 13.65 13.14
UBS AG London Branch-IPB Client Acc 8.42%
Dana Pensiun Kayawan Panin Bank Tbk 8.06% PER = 3.13x ; PBV = 0.49x (June 2008)
Omnicourt Group Limited 6.13%
Public Accountant: Eddy Kaslim (2006); Trisno, Hendang, Adam & Rekan (2007)
PT Panin Insurance Tbk (Treasury Stock) 0.12%
Public 19.60%

PT Panin Insurance Tbk. Insurance

President Commissioner Mu’min Ali Gunawan President Director Suwirjo Josowidjojo
Vice President Commissioner Fadjar Gunawan Vice President Director Syamsul Hidayat
Commissioner Akijat Lukito Director Karel Fitrianto Pangandjaja
per Listing Shares
1 First Issue 20-Sep-83 20-Sep-83 765,000 765,000
2 Private Placement 20-Sep-89 20-Sep-89 284,000 1,049,000
3 Bonus Shares 20-Aug-90 20-Aug-90 104,176 1,153,176
4 Bonus Shares 1992 1992 15,521,698 16,674,874
5 Bonus Shares II 1993 1993 73,432,496 90,107,370
6 Stock Split 18-Nov-96 18-Nov-96 90,107,370 180,214,740
7 Right Issue 09-Jan-97 09-Jan-97 300,357,900 480,572,640
8 Warrant I 23-Jul-97 23-Jul-97 8,834 480,581,474
9 Warrant I 13-Aug-97 13-Aug-97 51,834 480,633,308
10 Warrant I 19-Aug-97 19-Aug-97 24,701 480,658,009
11 Right Issue 13-Jul-98 13-Jul-98 205,996,290 686,654,299
12 Warrant I 25-May-99 25-May-99 3,334 686,657,633
13 Right Issue 05-Jul-99 05-Jul-99 500,095,905 1,186,753,538
14 Warrant I 06-Jul-99 06-Jul-99 2,367 1,186,755,905
15 Warrant III 14-Apr-00 14-Apr-00 1,500 1,186,757,405
16 Warrant III 14-Aug-00 14-Aug-00 6 1,186,757,411
17 Stock Split 03-Jun-03 03-Jun-03 1,186,757,411 2,373,514,822
18 Right Issue 07-Sep-06 07-Sep-06 1,694,402,849 4,067,917,671
19 Warrant IV 15-Nov-07 15-Nov-07 337,500 4,068,255,171
Underwriters PT MIFC, PT (Persero) Danareksa, PT MULTICOR, PT Inter-Pacific Finance Corporation, PT FICONESIA

January-07 305 255 265 77,921.00 21,551.00 1056 22 4,067,917,671.00 1,077,998.00
February-07 280 245 265 48,071.00 12,839.00 1088 17 4,067,917,671.00 1,077,998.00
March-07 280 250 280 21,437.00 5,614.00 394 19 4,067,917,671.00 1,139,017.00
April-07 310 280 310 73,522.00 21,563.00 1297 20 4,067,917,671.00 1,261,054.00
May-07 365 300 340 198,352.00 62,898.00 2087 21 4,067,917,671.00 1,383,092.00
June-07 370 320 350 190,259.00 65,253.00 1645 20 4,067,917,671.00 1,423,771.00
July-07 365 335 350 80,476.00 28,215.00 919 22 4,067,917,671.00 1,423,771.00
August-07 345 260 320 41,611.00 13,154.00 551 22 4,067,917,671.00 1,301,734.00
September-07 330 295 325 7,497.00 2,386.00 276 20 4,067,917,671.00 1,322,073.00
October-07 360 320 360 50,534.00 17,351.00 670 20 4,067,917,671.00 1,464,450.00
November-07 365 325 340 22,467.00 7,808.00 35 22 4,068,255,171.00 1,383,207.00
December-07 340 320 330 21,526.00 7,171.00 205 16 4,068,255,171.00 1,342,524.00
January-08 330 260 270 33,825.00 10,060.00 338 20 4,068,255,171.00 1,098,429.00
February-08 285 260 265 37,725.00 10,190.00 369 19 4,068,255,171.00 1,078,088.00
March-08 260 200 240 9,446.00 2,307.00 162 18 4,068,255,171.00 976,381.00
April-08 255 230 235 24,014.00 5,802.00 143 22 4,068,255,171.00 956,040.00
May-08 320 230 320 12,470.00 3,460.00 659 20 4,068,255,171.00 1,301,842.00
June-08 415 290 325 89,474.00 32,547.00 2,278 21 4,068,255,171.00 1,322,183.00

400 60
350
50
300
40
250
200 30
150
20
100
10
50
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

Panin Insurance Tbk. PNIN
Industry Sector : Finance (8) Listed Shares : 4,068,323,920
Industry Sub Sector : Insurance (84) Market Capitalization : 1,871,429,003,200

Established Date : 24-Oct-1973 1. PT Paninkorp 1,208,583,000 : 30.00%
Listing Date : 20-Sep-1983 2. PT Famlee Invesco 609,623,000 : 15.00%
Under Writer IPO : 3. Crystal Chain Holdings Ltd. 271,045,672 : 7.00%
PT Danareksa Sekuritas
PT Danareksa DIVIDEND ANNOUNCEMENT
Securities Administration Bureau : Bonus Cash Cum Ex Recording Payment
PT Sinartama Gunita Year Shares Devidend Date Date Date Date F/I
Plaza BII Menara 3, 12th Fl. 1990 10 : 1 06-Jul-90 09-Jul-90 13-Jul-90 08-Aug-90 F
Jln. M.H. Thamrin No. 51 Jakarta 10350 1991 100.00 12-Jul-91 15-Jul-91 19-Jul-91 05-Aug-91
Fax : 392-3003 1992 1:2 29-Oct-92 30-Oct-92 06-Nov-92 06-Dec-92
1992 80.00 09-Aug-93 10-Aug-93 18-Aug-93 31-Aug-93 F
BOARD OF COMMISSIONERS 1993 250.00 18-Nov-93 19-Nov-93 26-Nov-93 03-Dec-93 I
1. Mu'min Ali Gunawan 1994 25.00 20-Jul-95 21-Jul-95 31-Jul-95 31-Aug-95 F
2. Fadjar Gunawan 1995 10.00 16-Jul-96 17-Jul-96 25-Jul-96 23-Aug-96 F
3. Lukman Abdullah *) 1996 7.00 26-Jun-97 27-Jun-97 07-Jul-97 05-Aug-97 F
4. Tri Hananto Sapto Anggoro *) 1997 20.00 08-Jul-98 09-Jul-98 17-Jul-98 14-Aug-98 F
*) Independent Commissioners 2002 3.00 21-Jul-03 22-Jul-03 24-Jul-03 07-Aug-03 F
2005 5.00 18-Jul-05 19-Jul-05 21-Jul-05 04-Aug-05 F
BOARD OF DIRECTORS 2010 5.00 22-Jul-11 25-Jul-11 27-Jul-11 10-Aug-11 F
1. Suwirjo Josowidjojo
2. Karel Fitrianto Pangandjaja ISSUED HISTORY
3. Syamsul hidayat Listing Trading
4. Thomas Paitimusa Type of Listing Shares Date Date
1. First Issue 765,000 20-Sep-83 20-Sep-83
AUDIT COMMITTEE 2. Private Placement 284,000 20-Sep-89 20-Sep-89
1. Lukman Abdullah 3. Bonus Shares 104,176 20-Aug-90 20-Aug-90
2. Lim Gito 4. Partial Listing 127,300 23-Dec-92 23-Dec-92
3. Veronika Lindawati 5. Right Issue 2,701,146,944 T: 23-Dec-92 : 07-Sep-06
6. Bonus Shares I 103,614 T: 23-Dec-92 : 16-Dec-93
CORPORATE SECRETARY 7. Share swap 4,105,830 23-Dec-92 23-Dec-92
Murwanto S.H. 8. Bonus shares II 60,071,580 T: 23-Dec-92 : 16-Dec-93
9. Shares Swap 23,644,170 16-Dec-93 16-Dec-93
HEAD OFFICE 10. Founders Shares 607,700 16-Dec-93 16-Dec-93
Panin Bank Plaza 6th Fl., Jln. Palmerah Utara No. 52 11. Stock Split 1,276,864,781 T: 18-Nov-96 : 03-Jun-03
Jakarta - 11480 12. Warrant I 88,703 T: 23-Jul-97 : 25-May-99
Phone : (021) 548-0669 13. Warrant I 2,367 06-Jul-99 06-Jul-99
Fax : (021) 548-4047 14. Warrant 3 1,506 T: 14-Apr-00 : 14-Aug-00
15. Warrant IV 406,249 T: 15-Nov-07 : 15-Jul-09
Homepage : www.panininsurance.co.id
Email : pcd21@dnet.net.id
TRADING ACTIVITIES
Day
PANIN INSURANCE TBK.
665 140 Jan-08 330 260 270 338 33,825 10,060 20
Feb-08 285 260 265 369 37,725 10,190 19
Mar-08 260 200 240 162 9,446 2,307 18
570 120
Apr-08 255 235 235 143 24,014 5,802 22
May-08 320 230 320 659 12,470 3,460 20
475 100 Jun-08 415 290 325 2,278 89,474 32,547 21
Jul-08 330 295 320 512 12,207 3,870 22
Aug-08 330 300 330 1,677 35,984 11,267 20
380 80 Sep-08 330 235 280 349 42,686 12,146 21
Oct-08 260 130 143 438 48,288 9,277 17
Nov-08 200 135 137 174 10,340 1,435 19
285 60
Dec-08 180 134 149 176 4,626 660 16
Jan-00 - - - - - - -
190 40 Jan-09 190 141 176 132 4,040 604 16
Feb-09 200 150 180 34 1,668 258 13
Mar-09 197 154 168 122 22,920 3,994 18
95 20 Apr-09 200 168 194 155 14,812 2,624 16
May-09 210 170 193 335 29,676 5,673 19
Jun-09 255 180 210 2,829 145,957 31,356 22
Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jul-09 255 200 235 1,948 136,388 32,765 21
Aug-09 250 215 215 399 33,913 7,680 19
Sep-09 265 205 250 884 48,886 11,069 17
Oct-09 245 205 225 400 22,371 5,154 22
CHANGE OF CLOSING PRICE Nov-09 245 210 240 272 13,820 3,240 18
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Dec-09 280 235 255 295 17,206 4,444 19
Jan-00 - - - - - - -
120% 120%
Jan-10 275 250 255 238 14,975 4,040 18
100% 100% Feb-10 270 245 265 49 1,432 365 12
Finance Index
Closing Price Mar-10 280 255 265 583 91,173 22,980 19
80% 80% Apr-10 380 270 380 1,261 88,487 28,739 21
May-10 510 320 430 2,950 89,360 37,343 18
60% 60% Jun-10 460 385 430 854 25,409 10,957 22
Jul-10 425 375 405 213 8,687 3,514 20
40% 40% Aug-10 430 395 410 266 20,724 8,543 20
Sep-10 450 415 420 202 11,142 4,855 17
20% 20% Oct-10 600 420 550 2,780 52,291 28,341 21
Nov-10 550 500 510 929 45,413 23,843 21
- -
Dec-10 600 455 570 2,607 53,710 30,572 20
Jan-00 - - - - - - -
-20% -20%
Jan-11 580 470 480 1,153 27,851 14,265 21
-40% -40% Feb-11 530 475 490 374 6,159 3,034 17
Mar-11 520 475 520 486 7,953 3,915 23
-60% -60% Apr-11 580 500 560 3,177 52,847 29,125 20
May-11 660 540 630 13,753 154,260 95,669 21
-80% -80% Jun-11 640 560 580 1,374 40,495 24,845 20
Jul-11 630 560 610 3,659 51,632 30,390 21
Aug-11 660 470 560 5,052 71,068 43,108 18
Sep-11 570 395 430 33,306 201,240 103,438 20
SHARES TRADED 2008 2009 2010 2011 Jan-12 Oct-11 470 375 460 6,043 47,613 20,683 21
Volume (Million Shares) 361 492 503 731 27 Nov-11 460 415 425 455 18,482 8,132 22
Value (Billion Rp) 103 109 204 399 12 Dec-11 460 405 415 12,477 50,912 22,092 21
Frequency (X) 7,275 7,805 12,932 81,309 1,295 Jan-00 - - - - - - -
Days 235 220 229 245 21 Jan-12 475 410 460 1,295 27,318 12,166 21
Feb-12 - - - - - - -
High 415 280 600 660 475 Apr-12 - - - - - - -
Low 130 141 245 375 410 May-12 - - - - - - -
Close 149 255 570 415 460 Jun-12 - - - - - - -
Close* 149 255 570 415 460 Jul-12 - - - - - - -
Aug-12 - - - - - - -
PER (X) 1.93 2.59 4.03 1.56 1.73 Sep-12 - - - - - - -
PBV (X) 0.22 0.32 0.60 0.23 0.25 Nov-12 - - - - - - -
Dec-12 - - - - - - -
Public Accountant : Anwar & Rekan (Member of DFK International) Book End : December

Total Investment 7,170,412 6,670,805 7,948,421 9,160,072 6,441,475 11,250
Premium Receivables 21,305 15,707 21,525 44,846 22,901 9,000
Reinsurance Receivables 382 83 1,138 7,901 10,146
Other Receivable 3,586 28,459 29,257 8,234 7,391 6,750
Fixed Assets 33,939 18,673 21,380 29,097 26,524

4,500
Other Assets 23,414 15,303 12,544 9,230 10,912
Total Assets 7,346,979 6,808,761 8,101,058 9,358,982 10,590,386
2,250
Growth (%) -7.33% 18.98% 15.53% 13.16%
-

Taxes payable 3,434 6,067 4,985 5,974 1,125
Total Liabilities 2,590,794 1,849,340 2,540,800 2,748,350 3,086,620 TOTAL EQUITY (Billion Rupiah)
Growth (%) -28.62% 37.39% 8.17% 12.31% 7,504
7,504
Authorized Capital 2,373,000 2,373,000 2,373,000 2,373,000 2,373,000

Paid up Capital 1,015,885 1,009,517 1,009,534 1,009,534 1,009,534
6,003
Paid up Capital (Shares) 4,064 4,038 4,038 4,038 4,038

4,502
3,835
Par Value 250 250 250 250 250 3,195
Retained Earnings 1,365,347 1,747,941 2,148,109 2,723,376 3,426,453 2,600 2,791
3,002
Total Equity 2,600,089 2,791,124 3,195,113 3,834,941 7,503,766

Growth (%) 7.35% 14.47% 20.03% 95.67% 1,501
2007 2008 2009 2010 Sep-11

Underwriting Revenues 1,420,736 1,243,817 1,100,337 1,470,926 1,667,208
Growth (%) -12.45% -11.54% 33.68%
Underwriting Expenses 1,634,539 763,082 1,486,159 1,491,231 1,413,049 1,667

1,667
Underwriting Income -213,803 480,735 -385,822 -20,305 254,159 1,421 1,471

Income from Investments 887,007 120,560 1,177,947 1,193,636 724,680 1,334
1,244
Operating Expenses 120,798 74,972 84,646 105,788 80,081 1,100
Income from Operating 552,406 526,323 606,671 944,136 807,818 1,000
Growth (%) -4.72% 15.27% 55.63%

667
Others Income 2,835 39,218 7,580 -35,557 16,420

333

Tax 17,541 19,869 14,423 27,540 10,220 -
Net Income 341,599 314,815 400,168 575,848 812,687 2007 2008 2009 2010 Sep-11
Growth (%) -7.84% 27.11% 43.90%

Dividend (Rp) - - - 5.00 - 813
EPS (Rp) 84.06 77.96 99.10 142.60 201.25

BV (Rp) 639.86 691.20 791.23 949.68 1,858.23
650
576
DAR (X) 0.35 0.27 0.31 0.29 0.29

400
488
DER(X) 1.00 0.66 0.80 0.72 0.41

342
315
ROA (%) 7.56 7.24 7.58 9.71 7.78 325
ROE (%) 21.35 17.65 19.22 23.69 10.98

OPM (%) 38.88 42.32 55.14 64.19 48.45 163
NPM (%) 24.04 25.31 36.37 39.15 48.75

Payout Ratio (%) - - - 3.51 -
-
2007 2008 2009 2010 Sep-11

Yield (%) - - - 0.88 -
PT Panin Life Tbk. Insurance PT Panin Life Tbk. Insurance
Head Office Panin Bank Plaza 5 th Floor Summary of Financial Statement Board of Commissioners Board of Directors
Jl. Palmerah Utara No. 52 President Commissioner Mu’min Ali Gunawan President Director Fadjar Gunawan
Jakarta 11480 (million rupiah) Vice President Commissioner Suwirjo Josowidjojo Vice President Directors Kurniawati Sadeli, Tri Djoko Santoso
2002 2003 2004 Director Adrianto Hadrian
Phone (021) 548-4870 (hunting) Commissioner Lim Rudy Susanto
Fax (021) 548-4570, 530-8016 Total Assets 1,474,859 1,839,427 2,680,726 Number of Employees 258
Telex 46551 PANINP IA Current Assets 100,959 80,822 151,245 No Type of Listing Listing Date Trading Date Number of Shares Total Listed
Email: panin@paninlife.co.id of which per Listing Shares
Business Life Insurance Premium receivables 4,506 2,531 2,750 1 First Issue 1983 1983 1,020,000 1,020,000
Company Status PMDN Receivable from reinsurers 445 147 420 2 Company Listing 1989 1989 980,000 2,000,000
3 Private Placement 1989 1989 793,664 2,793,664
Non-current Assets 1,373,900 1,758,605 2,529,481 4 Bonus Shares 1990 1990 186,143 2,979,807
PT. Panin Life Tbk. of which 5 Bonus Shares 1992 1992 18,239,421 21,219,228
Fixed Assets Net 5,027 4,582 5,709 6 Shares Swap 1992 1992 3,100,000 24,319,228
In 2004, net income was booked at Rp 347 bil- 7 Shares Swap 1993 1993 28,220,000 52,539,228
Deffered Tax Assets 1,868 13,471 37,207 8 Bonus Shares (Shares Swap) 1993 1993 16,095,000 68,634,228
lion, jump from last year income at Rp 163 billion. Net revenue was jump
Investment 1,351,439 1,731,551 2,478,572 9 Shares Swap 1993 1993 5,365,000 73,999,228
to Rp 1.211 trillion from Rp 692 billion. Other Assets 1,936 1,009 1,893 10 Stock Split 1996 1996 73,999,228 147,998,456
The company was founded on July 19, 1974, under the 11 Right Issue 1998 1998 147,998,456 295,996,912
Liabilities 398,441 545,917 939,761 12 Right Issue 1999 1999 2,698,159,123 2,994,156,035
name of PT Asuransi Jiwa Panin Putra as a limited liability company deal- 13 Stock Split 28-Jul-03 28-Jul-03 8,982,468,105 11,976,624,140
Current Liabilities 10,237 10,780 14,576 14 Warrant Seri III 5-Sep-03 5-Sep-03 166,500 11,976,790,640
ing in life insurance. On October 6, 1992, the company changed its name of which 15 Stock Seri II B 17-Oct-03 17-Oct-03 12,000 11,976,802,640
to PT Panin Life. Subsequently, on March 31, 1998, it adjusted its name Taxes payable 379 429 632 16 Stock Seri II A 21-Nov-03 21-Nov-03 101,000 11,976,903,640
17 Stock Seri II A 17-Dec-03 17-Dec-03 40,000 11,976,943,640
pursuant to Law Number 1 of 1995 concerning Limited Liability Compa- Claims payable 8,930 8,013 11,096
18 Warrant Seri II A 16-Feb-04 16-Feb-04 183,000 11,977,126,640
nies to PT Panin Life Tbk. The company received its operating license as a Payable to reinsurers 313 351 709 19 Warrant Seri III 2-Mar-04 2-Mar-04 117,500 11,977,244,140
Non-Current Liabilities 388,204 535,137 925,185 20 Warrant Seri III 19-Apr-04 19-Apr-04 27,000 11,977,271,140
life insurance company on October 24, 1974. The first policy coverage was 21 Warrant Seri III 10-Nov-04 10-Nov-04 2,083,044 11,979,354,184
extended in 1975, when the company arranged a group policy for Panin Shareholders' Equity 1,076,418 1,293,510 1,740,965 22 Warrant Seri III Dec-04 Dec-04 3,152,492 11,982,506,676
Group employees. In the course of its operations, the company has in- Paid-up capital 1,497,078 1,497,078 1,497,813 Underwriters PT Danareksa, PT MIFC, PT MULTICOR
vested capital in several other entities: PT Panin Banholdco (99.9%), PT Paid-up capital
Bank Pan Indonesia Tbk (21.95%), and PT Asuransi Multi Artha Guna Trading Listed Market
Revaluation of fixed assets 593 593 593 Stock Price Shares Traded
(9.90%). Retained earnings (accumulated loss) (525,899) (308,807) 137,913 Month High Low Close Frequency Day Volume Value Shares Capitalization
Revenue 328,286 692,602 1,211,941 January-04 205 150 185 1,833 19 74,911.00 13,780.00 11,976,943,640 2,215,735.00
Operating Expenses 294,714 540,284 888,572 February-04 200 165 170 1,729 18 1,925,268.00 311,247.00 11,977,126,640 2,036,112.00
Operating Profit 33,572 152,318 323,369 March-04 180 135 140 1,199 22 86,745.00 14,443.00 11,977,244,140 1,676,814.00
Other Income (Expenses) 5,239 n.a n.a April-04 165 125 130 1,505 20 91,555.00 13,440.00 11,977,271,140 1,557,045.00
Profit before Taxes 38,811 152,318 323,369 May-04 130 90 95 2,193 19 218,472.00 23,663.00 11,977,271,140 1,137,841.00
Profit after Taxes 39,852 163,921 347,105 June-04 105 85 90 931 21 225,711.00 21,510.00 11,977,271,140 1,077,954.00
Revenue Breakdown July-04 110 90 100 1,011 21 145,276.00 14,442.00 11,977,271,140 1,197,727.00
Premium Income 285,810 486,708 767,111 August-04 110 95 105 1,614 21 133,095.00 13,828.00 11,977,271,140 1,257,613.00
Investment Income 42,476 200,257 443,164 September-04 135 100 125 1,849 20 216,460.00 25,541.00 11,977,271,140 1,497,159.00
Others 5,239 5,637 1,666 October-04 145 125 130 1,215 21 85,185.00 11,674.00 11,977,271,140 1,557,045.00
November-04 160 130 155 1,078 17 115,622.00 16,941.00 11,979,354,184 1,856,800.00
Expenses Breakdown December-04 155 125 145 658 21 127,342.00 18,093.00 11,982,506,676 1,737,141.00
Reinsurance Premiums (2,091) (2,984) (3,698) January-05 190 140 165 4,672 20 4,289,480.00 701,311.00 11,982,506,676 1,977,774.00
Claims Paid 171,883 338,166 443,375 February-05 185 165 180 2,132 18 1,373,034.00 242,916.00 11,982,506,676 2,156,851.00
Others 124,922 205,102 448,895 March-05 210 160 180 3,809 21 1,333,106.00 250,927.00 11,982,506,676 2,156,851.00
April-05 180 135 155 1,998 20 666,393.00 106,277.00 11,982,506,676 1,857,289.00
Per Share Data (Rp) May-05 165 145 160 1,152 20 364,316.00 55,888.00 11,982,506,676 1,917,201.00
Earnings per Share 3 14 29 June-05 170 150 165 1,095 22 358,668.00 57,936.00 11,982,506,676 1,977,114.00
Dividend per Share n.a n.a 4
Financial Ratios 250 500
PER (x) 60.11 11.32 5.01
450
PBV (x) 2.23 1.44 1.00
Dividend Payout (%) n.a n.a 13.81 200 400
Dividend Yield (%) n.a n.a 2.75
350
Operating Profit Margin (x) 0.10 0.22 0.27 150 300

Shareholders Net Profit Margin (x) 0.12 0.24 0.29
Expense Ratio (x) 1.03 1.11 1.16 250
PT Panin Insurance Tbk 52.83%
Loss Ratio (x) 0.60 0.69 0.58
Mellon S/A Cundill Recovery FD 5.86% 100 200
MS + CO INC Client AC 5.12% Investment to Total Assets Ratio (x) 0.00 0.00 0.00 150
Dana Pensiun Asuransi Panin 2.23% ROI (%) 2.70 8.91 12.95 50 100
Reksadana Panin Dana Optima 0.84% ROE (%) 3.70 12.67 19.94
50
DPK Panin Bank 0.65%
PER = 5,70x ; PBV = 1,14x (June 2005) - -
PT Panin Geninholdco 0.06% Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun-
PT Panin Sekuritas Tbk 0.03% Public Accountant: Drs. Thomas, Trisno, Hendang & Co.
04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05
Public 32.38%
PT Panin Life Tbk. Insurance
Head Office Panin Bank Plaza 5th Floor Summary of Financial Statement
Jl. Palmerah Utara No. 52
Phone (021) 548-4870 (Hunting) 2005 2006 2007
Fax (021) 548-4570, 530-8016 Total Assets 2,582,197 5,161,653 6,557,174
Telex 46551 PANINP IA Current Assets 290,798 567,709 227,736
Email: of which
“mailto:panin@paninlife.co.id” Cash and Cash Equivalents 19,613 39,588 49,282
panin@paninlife.co.id Premium receivables 2,401 1,193 9,707
Receivable from reinsurers 30 878 32
Business Life Insurance Non-current Assets 2,291,399 4,593,944 6,329,438
Fixed Assets Net 6,105 5,609 5,147
Financial Performance: The Company booked net profit at Deffered Tax Assets 48,140 44,371 31,945
IDR446.543 billion in 2007, or increased from IDR323.379 billion Investment 2,228,323 4,536,922 6,286,833
in 2006. Other Assets 3,602 2,685 2,027
Brief History: The company was founded on July 19, 1974, Liabilities 824,218 1,476,419 2,351,156
under the name of PT Asuransi Jiwa Panin Putra as a limited li- Current Liabilities 18,577 17,312 33,549
ability company dealing in life insurance. On October 6, 1992, the of which
company changed its name to PT Panin Life. Subsequently, on Taxes payable 475 508 727
Claims payable 11,341 13,403 24,524
March 31, 1998, it adjusted its name pursuant to Law Number 1 of Payable to reinsurers 2,708 1,327 2,346
1995 concerning Limited Liability Companies to PT Panin Life Tbk. Non-Current Liabilities 805,641 1,459,107 2,317,607
The company received its operating license as a life insurance
Shareholders' Equity 1,757,979 3,685,234 4,206,018
company on October 24, 1974. The first policy coverage was ex-
Paid-up capital 1,497,813 2,995,627 3,003,876
tended in 1975, when the company arranged a group policy for Paid-up capital
Panin Group employees. In the course of its operations, the com- in excess of par value 104,646 104,646 104,646
pany has invested capital in several other entities: PT Panin Revaluation of fixed assets 593 593 593
Banholdco, PT Bank Pan Indonesia Tbk, and PT Asuransi Multi Retained earnings (accumulated loss) 154,927 584,368 1,096,903
Artha Guna. Revenue 852,716 1,628,884 2,162,609
Operating Expenses 666,896 1,307,736 1,703,640
Operating Profit 185,820 321,148 458,969
Other Income (Expenses) n.a n.a n.a
Revenue Breakdown
Premium Income 551,165 1,156,482 1,354,186
Others 2,665 5,999 1,385
Expenses Breakdown
Reinsurance Premiums (3,614) (5,124) (4,404)
Claims Paid 712,270 576,048 744,409
Others (41,760) 730,812 963,635
Per Share Data (Rp)

Financial Ratios
PER (x) 8.22 12.23 10.49
PBV (x) 0.92 1.07 1.11

Loss Ratio (x) 1.29 0.50 0.55
ROI (%) 7.62 6.27 6.81
Shareholders ROE (%) 11.19 8.77 10.62
PT Panin Insurance Tbk 56.06%
Mellon S/A Cundill Recovery FD 9.57% PER = 2.02x ; PBV = 0.32x (June 2008)
UBS AG London Branch 8.48% Public Accountant: Trisno, Hendang, Adams & Rekan (2006); Drs. Eddy Kaslim (2007)
Public 25.89%

PT Panin Life Tbk. Insurance

President Commissioner Mu’min Ali Gunawan President Director Fadjar Gunawan
Vice President Commissioner Suwirjo Josowidjojo Vice President Director Tri Djoko Santoso
Commissioner Lim Rudy Susanto Director Adrianto Hadrian
per Listing Shares
1 First Issue 1983 1983 1,020,000 1,020,000
2 Company Listing 1989 1989 980,000 2,000,000
3 Private Placement 1989 1989 793,664 2,793,664
4 Bonus Shares 1990 1990 186,143 2,979,807
5 Bonus Shares 1992 1992 18,239,421 21,219,228
6 Shares Swap 1992 1992 3,100,000 24,319,228
7 Shares Swap 1993 1993 28,220,000 52,539,228
8 Bonus Shares (Shares Swap) 1993 1993 16,095,000 68,634,228
9 Shares Swap 1993 1993 5,365,000 73,999,228
10 Stock Split 1996 1996 73,999,228 147,998,456
11 Right Issue 1998 1998 147,998,456 295,996,912
12 Right Issue 1999 1999 2,698,159,123 2,994,156,035
13 Stock Split 28-Jul-03 28-Jul-03 8,982,468,105 11,976,624,140
14 Warrant Seri III 5-Sep-03 5-Sep-03 166,500 11,976,790,640
15 Saham Seri II B 17-Oct-03 17-Oct-03 12,000 11,976,802,640
16 Saham Seri II A 21-Nov-03 21-Nov-03 101,000 11,976,903,640
17 Saham Seri II A 17-Dec-03 17-Dec-03 40,000 11,976,943,640
18 Warrant Seri II A 16-Feb-04 16-Feb-04 183,000 11,977,126,640
19 Warrant Seri III 2004 2004 5,380,036 11,982,506,676
20 Right Issue 7-Sep-06 7-Sep-06 11,982,506,676 23,965,013,352
21 Warrant Seri IV 2-Apr-07 2-Apr-07 1,333 23,965,014,685
22 Warrant Seri IV 20-Jul-07 23-Jul-07 4,724,000 23,969,738,685
23 Warrant Seri IV 1-Aug-07 10-Aug-07 19,860,000 23,989,598,685
24 Warrant Seri IV 29-Oct-07 29-Oct-07 250,000 23,989,848,685
25 Warrant Seri IV 7-Nov-07 12-Nov-07 41,162,500 24,031,011,185
26 Warrant Seri IV 30-Jan-08 30-Jan-08 1,960,000 24,032,971,185
Stock27Price, Frequency,
Warrant Seri IV Trading
Days, Number and Value of
20-Jun-08 Shares Traded20-Jun-08
and Market Capitalization
1,000,000 24,033,971,185
Underwriters PT Danareksa, PT MIFC, PT MULTICOR
January-07 198 160 177 1,123,029.00 207,179.00 3405 22 23,965,013,352.00 4,241,807.00
February-07 187 150 156 7,100,699.00 123,610.00 3937 20 23,965,013,352.00 3,738,542.00
March-07 169 138 169 428,558.00 65,769.00 2637 21 23,965,013,352.00 4,050,087.00
April-07 185 163 168 764,029.00 133,232.00 3495 20 23,965,014,685.00 4,026,122.00
May-07 210 162 168 1,907,129.00 341,969.00 12746 21 23,965,014,685.00 4,026,122.00
June-07 210 167 205 3,080,698.00 588,845.00 13719 20 23,965,014,685.00 4,912,828.00
July-07 235 195 205 1,207,304.00 252,045.00 5,439 22 23,969,738,685.00 4,913,796.00
August-07 225 150 191 1,201,683.00 236,903.00 3,691 22 23,989,598,685.00 4,582,013.00
September-07 196 180 191 2,359,492.00 442,546.00 3,448 20 23,989,598,685.00 4,582,013.00
October-07 225 190 215 992,826.00 205,654.00 4,727 20 23,989,848,685.00 5,157,817.00
November-07 220 184 194 551,934.00 110,012.00 1,304 22 24,031,011,185.00 4,662,016.00
December-07 202 188 195 171,240.00 33,928.00 470 16 24,031,011,185.00 4,686,047.00
January-08 195 150 158 148,260.00 26,067.00 909 20 24,032,971,185.00 3,797,209.00
February-08 172 153 164 148,053.00 23,933.00 1,364 19 24,032,971,185.00 3,941,407.00
March-08 168 128 149 77,491.00 11,750.00 753 18 24,032,971,185.00 3,580,913.00
April-08 170 134 170 163,462.00 22,416.00 472 21 24,032,971,185.00 4,085,605.00
May-08 165 143 160 89,760.00 13,591.00 1,400 20 24,032,971,185.00 3,845,275.00
June-08 256 159 210 1,198,149.00 248,641.00 10,729 21 24,033,971,185.00 5,047,134.00

300 600
250 500
200 400
150 300
100 200
50 100
- -
07 07 07 07 07 07 07 07 07 07 07 07 08 08 08 08 08 08

COMPANY REPORT
PNLF
PANIN FINANCIAL TBK.
Company Profile

PT Panin Financial Tbk (formerly PT Panin Life Tbk) (“the Company”) was established based
on the Notarial deed No. 192 dated July 19th, 1974 of Ridwan Suselo, S.H.

In accordance with article 3 of the Company's Articles of Association, the Company is
engaged in life insurance, health insurance, personal accident insurance and annuity
business including sharia business. The Company obtained its license to operate as a life
insurance company based on the decision letter No. Kep‐1405/Djm/III.5/10/1974 dated
October 24th, 1974 of the Ministry of Finance of the Republic of Indonesia.

In accordance with Article 3 of the Company's Articles of Association, the Company is
engaged in life insurance, health insurance, personal accident insurance and annuity
business including shariah business.

The Company is one of the group of companies owned by Panin.

The Company has direct and indirect ownership in subsidiaries: PT Panin Life (formerly PT
Panin Anugrah Life), PT Panin Financial Assurance and PT Epanin Dotcom.
August 2010
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the publisher or
of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the publication it should not be
by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or otherwise responsible in anyway for any
advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.
Panin Financial Tbk PNLF
TRADING ACTIVITIES
Day
PANIN FINANCIAL TBK
Price* JANUARY 2006 - AUGUST 2010 (Mill. Sh) Month High Low Close (X) (Thou. Sh) (Million Rp)
263 2,100 Jan-06 165 135 155 2,604 878,344 134,021 20
Feb-06 160 140 155 870 438,979 66,098 20
Mar-06 185 150 180 1,315 418,676 67,810 21
225 1,800
Apr-06 220 170 220 1,680 523,556 102,523 18
May-06 215 145 170 2,602 479,047 84,611 21
188 1,500 Jun-06 170 150 160 580 247,105 39,425 21
Jul-06 160 125 130 904 235,445 31,341 21
Aug-06 140 115 135 2,805 1,406,952 177,816 20
150 1,200 Sep-06 160 125 150 2,484 1,230,663 172,734 21
Oct-06 155 130 140 2,842 422,803 58,742 17
Nov-06 165 135 145 3,349 1,156,856 171,189 22
113 900
Dec-06 170 140 165 2,527 1,000,375 153,588 19
Jan-00 - - - - - - -
75 600 Jan-07 198 160 177 3,405 1,123,029 207,179 22
Feb-07 187 150 156 3,937 710,699 123,610 20
Mar-07 169 138 169 2,637 428,558 65,769 21
38 300 Apr-07 185 163 168 3,495 764,029 133,232 20
May-07 210 162 168 12,746 1,907,129 341,969 21
Jun-07 210 167 205 13,719 3,080,698 588,845 20
Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jul-07 235 195 205 5,439 1,207,304 252,045 22
Aug-07 225 150 191 3,691 1,201,683 236,903 22
Sep-07 196 180 191 3,448 2,359,492 442,546 20
Oct-07 225 190 215 4,727 992,826 205,654 20
CHANGE OF CLOSING PRICE Nov-07 220 184 194 1,304 551,934 110,012 22
FINANCE INDEX AND JAKARTA COMPOSITE INDEX Dec-07 202 188 195 470 171,240 33,928 16
JANUARY 2006 - AUGUST 2010
Jan-00 - - - - - - -
210% 210%
Jan-08 195 150 158 909 148,260 26,067 20
Jakarta Composite Index Feb-08 172 153 164 1,364 148,053 23,933 19
175% Finance Index 175% Mar-08 168 128 149 753 77,491 11,750 18
Closing Price
Apr-08 170 134 170 472 163,462 22,416 21
140% 140% May 08
May-08 165 143 160 1 400
1,400 89 670
89,670 13 591
13,591 20
Jun-08 256 159 210 10,729 1,198,149 248,641 21
Jul-08 245 190 210 5,656 947,348 206,462 22
105% 105%
Aug-08 250 200 240 3,190 792,471 181,242 20
Sep-08 250 155 156 3,581 491,051 98,644 21
70% 70% Oct-08 150 58 81 1,883 528,259 45,553 18
Nov-08 130 65 80 1,729 147,889 13,013 20
35% 35% Dec-08 94 70 83 1,328 61,415 5,291 19
Jan-00 - - - - - - -
- -
Jan-09 92 72 75 911 33,864 2,764 19
Feb-09 75 58 59 5,092 422,183 26,651 20
Mar-09 75 54 67 8,840 1,045,851 65,295 20
-35% -35%
Apr-09 84 67 79 6,201 2,423,920 126,774 20
May-09 111 77 103 8,390 1,153,300 105,344 20
-70% -70% Jun-09 121 97 110 15,533 2,210,607 245,256 22
Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jul-09 123 96 110 24,415 4,058,055 453,691 21
Aug-09 119 105 114 9,133 1,096,518 124,029 20
Sep-09 155 109 145 11,703 1,779,443 236,301 18
SHARES TRADED 2006 2007 2008 2009 Aug-10 Oct-09 149 116 126 3,036 355,905 49,033 22
Volume (Million Shares) 8,439 14,499 4,794 15,160 7,249 Nov-09 154 123 139 3,174 326,028 46,280 20
Value (Billion Rp) 1,260 2,742 897 1,520 1,411 Dec-09 164 139 140 2,531 254,681 38,247 19
Frequency (X) 24,562 59,018 32,994 98,959 56,370 Jan-00 - - - - - - -
Days 241 246 239 241 166 Jan-10 161 140 152 5,730 762,428 116,537 20
Feb-10 154 140 142 933 234,554 34,374 19
Price (Rupiah) Mar-10 187 142 184 3,846 528,081 84,630 22
High 220 235 256 164 260 Apr-10 235 184 220 10,474 1,621,101 337,822 21
Low 115 138 58 54 140 May-10 260 195 220 7,184 1,499,442 336,545 19
Close 165 195 83 140 163 Jun-10 240 179 185 9,874 1,229,109 262,309 22
Close* 165 195 83 140 163 Jul-10 187 159 168 10,354 734,028 127,329 22
Aug-10 186 160 163 7,975 640,443 111,214 21
PER (X) 12.23 9.94 5.43 7.39 5.21 Sep-10 - - - - - - -
PBV (X) 1.07 1.14 0.46 0.72 0.73 Nov-10 - - - - - - -
Dec-10 - - - - - - -
Panin Financial Tbk. PNLF
Public Accountant : Eddy Kaslim Book End : December
BALANCE SHEET Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010

Total Investment 5,052,970 6,438,204 5,846,396 6,998,821 7,461,544 8,750
C h on h
Cash hand
d and
d iin B
Banks
k 39
39,588
588 49,282
49 282 8,568
8 568 17,970
17 970 84,805
84 805 Assets Liabilities
Premium Receivables 1,193 9,707 2,677 1,598 916 7,000
Reinsurance Receivables 878 32 33 28 100
Other Receivable 1,889 2,021 5,476 9,214 11,397 5,250
Fixed Assets 5,609 5,147 14,268 13,384 12,612

3,500
Other Assets 2,685 2,027 2,698 7,853 7,164
Total Assets 5,161,653 6,557,174 5,921,019 7,078,530 7,607,164
1,750
Growth (%) 27.04% -9.70% 19.55% 7.47%
-
Claims payable - 24,524 6,283 9,061 11,419 2006 2007 2008 2009 Jun-10
Taxes payable 508 727 1,085 2,616 2,133
Total Liabilities 1,476,419 2,351,156 1,592,391 2,282,666 2,254,301 TOTAL EQUITY (Billion Rupiah)
Growth (%) 59.25% -32.27% 43.35% -1.24% 5,353
4,796
5,353
Authorized Capital 5,990,000 5,990,000 5,990,000 5,990,000 5,990,000 4,206 4,325

Paid up Capital 2,995,627 3,003,876 3,004,246 3,005,262 3,005,262 3,685
4,282
Paid up Capital (Shares) 23,965 24,031 24,034 24,042 24,042

3,212
Par Value 125 125 125 125 125

Retained Earnings 1,020,157 1,466,700 1,930,177 2,395,874 2,772,089 2,141
Total Equity 3,685,234 4,206,018 4,325,133 4,795,864 5,352,863

Growth (%) 14.13% 2.83% 10.88% 11.61% 1,071
2006 2007 2008 2009 Jun-10

INCOME STATEMENTS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010
Underwriting Revenues 1,156,482 1,354,186 1,163,137 1,002,025 -
Growth (%) 17.10% -14.11% -13.85%
Underwriting Expenses 1,264,559 1,598,219 722,341 1,544,810 - 1,354

1,354
Underwriting Income -108,077 -244,033 440,796 -542,785 - 1,156 1,163

Income from Investments 466,403 808,423 61,865 1,073,010 - 1,083
1,002
Operating Expenses 37,177 105,421 52,169 59,844 -
Growth (%) 42.91% -1.85% 4.41%

542
Others Income 5,999 - 377 - -

271

Tax 3,769 12,426 10,825 4,591 238 -
Net Income 323,379 446,543 367,137 465,701 376,215 2006 2007 2008 2009 Jun-10
Growth (%) 38.09% -17.78% 26.85%

RATIOS Dec-2006 Dec-2007 Dec-2008 Dec-2009 Jun-2010
447
Dividend (Rp) - - - - -
EPS (Rp) 13.49 18.58 15.28 19.37 15.65 367 376
BV (Rp) 153.78 175.02 179.96 199.48 222.65 323
373
DAR (X) 0.29 0.36 0.27 0.32 0.30

279
DER(X) 0.40 0.56 0.37 0.48 0.42

ROA (%) 6.34 7.00 6.39 6.65 4.95 186
ROE (%) 8.88 10.91 8.74 9.81 7.03

OPM (%) 27.77 33.89 38.73 46.94 93
NPM (%) 27.96 32.98 31.56 46.48

Payout Ratio (%) - - - - -
-
Yield (%)
( ) - - - - - 2006 2007 2008 2009 Jun-10

UEU Undergraduate 394 Lampiran

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PT Asuransi Bina Dana Arta Tbk.

PT Asuransi Bina Dana Arta Tbk.

ROI (%) 6.74 7.92 3.24

Kesejahteraan Bank Ekspor Impor Indonesia 1.02% - -

Head Office Plaza ABDA 27th Floor Summary of Financial Statement

Per Share Data (Rp)

PER = 0.51x ; PBV = 0.01x (June 2008)

652 Indonesian Capital Market Directory 2008

Board of Commissioners Board of Directors

Number of Employees 414

1 First Issue 06-Jul-89 06-Jul-89 900,000 900,000

Stock Price and Traded Chart

Institute for Economic and Financial Research 653

COMPANY HISTORY SHAREHOLDERS (January 2012)

BALANCE SHEET Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011

Fixed Assets 28,199 35,782 33,452 32,119 50,656

Authorized Capital 193,847 193,847 193,847 193,847 193,847

Paid up Capital (Shares) 276 276 276 276 621

2007 2008 2009 2010 Sep-11

Underwriting Expenses 107,110 187,242 266,805 333,380 294,688 426

Operating Expenses 48,402 64,125 63,130 79,990 64,713

Growth (%) -16.31% 78.29% 70.04%

Others Income 2,990 4,120 2,750 5,635 3,750

Income before Tax 21,963 19,999 31,061 53,774 80,101

NET INCOME (Billion Rupiah)

EPS (Rp) 46.90 51.06 94.43 171.42 146.14

DAR (X) 0.61 0.72 0.76 0.77 0.65

ROE (%) 20.97 16.83 25.05 27.23 21.16

NPM (%) 8.31 5.59 7.75 11.10 22.61

Financial Ratios Stock Price and Traded Chart

Net Profit Margin (x) 0.12 0.14 0.08

ROI (%) 6.79 10.07 5.71

Head Office Gedung AHAP Insurance Summary of Financial Statement

Operating Profit Margin (x) 0.07 0.06 0.00

658 Indonesian Capital Market Directory 2008

Board of Commissioners Board of Directors

1 First Issue 14-Sep-90 14-Sep-90 1,000,000 1,000,000

Stock Price and Traded Chart

Stock Price (Rp) Million Shares

Institute for Economic and Financial Research 659

COMPANY HISTORY SHAREHOLDERS (January 2012)

BALANCE SHEET Dec-2007 Dec-2008 Dec-2009 Dec-2010 Sep-2011

Fixed Assets 5,084 5,507 5,318 5,682 7,290

Paid up Capital (Shares) 310 500 500 500 500

Total Equity 28,919 46,466 52,786 58,528 63,055

2007 2008 2009 2010 Sep-11

Underwriting Expenses 31,701 38,821 61,598 92,384 18,082 117

Underwriting Income 11,052 14,601 17,550 24,238 9,188

Income before Tax 971 2,592 7,319 9,646 3,582

NET INCOME (Billion Rupiah)

EPS (Rp) 4.22 5.13 14.55 18.83 9.32 7.28

DAR (X) 0.42 0.42 0.48 0.54 0.51

DER(X) 0.71 0.73 0.91 1.16 1.04

NPM (%) 3.06 4.80 9.19 8.07 17.09

Yield (%) - - 6.14 4.00 - 2007 2008 2009 2010 Sep-11

Financial Ratios Stock Price and Traded Chart

Operating Profit Margin (x) 0.07 0.02 n.a 1

ROI (%) 5.83 2.80 1.17 300

PT Srihana Utama 30.44% PER = 28,73x ; PBV = 0.71x (June 2005)

Dana Harta Keluarga 7.42% 04 04 04 04 04 04 04 04 04 04 04 04 05 05 05 05 05 05

Head Office Jl. RS. Fatmawati No. 32 Summary of Financial Statement

PT Srihana Utama 34.45% PER = 12.74x ; PBV = 0.59x (June 2008)

654 Indonesian Capital Market Directory 2008

Board of Commissioners Board of Directors