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|
Financial Report |
 |
BALANCE SHEET |
For The Years Ended 31 December 2008 and 2007
(in million Rupiah) |
| |
DESCRIPTION |
31
DEC 2008 |
31 DEC 2007 |
| ASSETS |
|
|
| 1 |
Investments |
900.565 |
927.050 |
| 2 |
Cash on Hand and in Banks |
236.459 |
23.735 |
| 3 |
Premium Receivable |
646.508 |
508.632 |
| 4 |
Reinsurance Receivable |
198.609 |
168.938 |
| 5 |
Investment Result Receivable |
4.149 |
2.670 |
| 6 |
Buildings |
42.516 |
44.420 |
| 7 |
Computers and hardware |
0 |
0 |
| 8 |
Other Fixed Assets |
38.045 |
25.252 |
| 9 |
Other Current Assets |
57.404 |
38.498 |
| 10 |
Total Non Investments (2 s/d 9) |
1.223.690 |
812.145 |
| |
|
|
|
| |
TOTAL ASSETS (1+10) |
2.124.255 |
1.739.195 |
| |
|
|
| LIABILITIES |
|
|
| 11 |
Claim Payable |
118.072 |
84.531 |
| 12 |
Estimated Own Claim Retention |
246.031 |
214.663 |
| 13 |
Unearned Premium |
322.601 |
262.139 |
| 14 |
Reinsurance Payable |
432.115 |
304.339 |
| 15 |
Commission Payable |
21.533 |
20.117 |
| 16 |
Taxes Payable |
26.099 |
4.561 |
| 17 |
Other Payables |
21.167 |
35.273 |
| 18 |
Other Current Liabilities |
179.233 |
141.831 |
| |
|
|
|
| |
TOTAL LIABILITIES (11 s/d 18) |
1.366.851 |
1.067.454 |
| |
|
|
|
| EQUITY |
|
|
| 21 |
Paid-in Capital |
425.000 |
155.000 |
| 22 |
Reserve |
222.792 |
418.675 |
| 23 |
Unrealized Increase (Decrease) Shares/Bonds |
0 |
0 |
| 24 |
Current Year Profit |
128.206 |
98.066 |
| |
|
|
|
| |
TOATAL EQUITY (21 s/d 24) |
757.404 |
671.741 |
| |
|
|
|
| |
TOTAL LIABILITIES AND EQUITY |
2.124.255 |
1.739.195 |
|
| |
INCOME STATEMENTS |
For The Years Ended 31 December 2008 and 2007
(in million Rupiah) |
| |
DESCRIPTION |
31 DEC 2008 |
31 DEC 2007 |
| 1. |
PREMIUM INCOME |
|
|
| 2. |
Premium-Gross |
|
|
| 3. |
a. Direct Premium |
2.278.230 |
1.964.222 |
| 4. |
b. Indirect Premium |
319.301 |
197.026 |
| 5. |
c. Direct & Indirect
Commission |
(271,655) |
(236.059) |
| 6. |
Total Premium-Gross (3+4-5) |
2.325.876 |
1.925.189 |
| 7. |
Reinsurance Premium |
|
|
| 8. |
a. Reinsurance Premium |
(1.667.707) |
(1.361.211) |
| 9. |
b. Reinsurance Commission |
148.334 |
91.368 |
| 10. |
Total Reinsurance Premium (8-9) |
(1.519.373) |
(1.269.843) |
| 11. |
Total Premium-Net (6-10) |
806.503 |
655.346 |
| 12. |
Increase (Decrease) in Estimated Own Claim
Retention |
|
|
| 13. |
a. Last Year |
262.139 |
243.151 |
| 14. |
b. Current Year |
322.600 |
262.139 |
| 15 |
Increase (Decrease) in Estimated Own Claim
Retention (13-14) |
(60.461) |
(18.988) |
| 16. |
Total Premium-net Income (11+15) |
746.042 |
636.358 |
| 17. |
Other Underwriting Income |
15.952 |
12.242 |
| 18. |
UNDERWRITING INCOME (16+17) |
761.994 |
648.600 |
| |
|
|
|
| 19. |
UNDERWRITING EXPENSES |
|
|
| 20. |
Claim Expenses |
|
|
| 21. |
a. Gross Claim |
1.141.365 |
955.470 |
| 22. |
b. Reinsurance Claim |
764.293 |
548.571 |
| 23. |
c. Increase (Decrease) in Estimated
Own Claim Retention |
|
|
| 24. |
c.1. Last Year |
246.031 |
214.664 |
| 25. |
c.2. Current Year |
214.663 |
208.346 |
| 26. |
Total Claim Expenses (21-22+24-25) |
408.440 |
413.217 |
| 27. |
Other Underwriting Expenses |
156.849 |
149.285 |
| 28. |
UNDERWRITING EXPENSES (26+27) |
565.289 |
562.502 |
| |
|
|
|
| 29. |
UNDERWRITING INCOME (18-28) |
196.705 |
86.098 |
| 30. |
Investment Income |
95.030 |
107.646 |
| 31. |
Other Income |
24 |
403 |
| 32. |
Operating Expenses |
|
|
| 33. |
a. Marketing Expenses |
6.827 |
4.712 |
| 34. |
b. Administration and General Expenses |
138.436 |
107.153 |
| 35. |
Total Expenses (33+34) |
145.263 |
111.865 |
| |
|
|
|
| 36. |
OPERATING PROFIT (29+30-31-35) |
146.448 |
81.476 |
| 37. |
Other Income (Expenses) |
17.096 |
23.187 |
| 38. |
PROFIT BEFORE ZAKAT |
163.544 |
104.663 |
| 39. |
Zakat |
0 |
0 |
| 40. |
PROFIT BEFORE TAX |
163.544 |
104.663 |
| 41. |
Income Tax |
48.018 |
12.760 |
| 42. |
Deferred Tax |
(4.704) |
(3.036) |
| 43. |
NET PROFIT AFTER TAX |
120.230 |
94.939 |
|
| |
| Financial Highlight (in million
Rupiah) |
| | 2004 | 2005 | 2006 | 2007 | 2008 | | Total Assets | 1,363,042 | 1,461,653 | 1,544,073 | 1,739,195 | 2,124,255 | | Gross Premiums | 1,969,053 | 2,102,301 | 1,942,268 | 1,925,189 | 2,325,876 | | Net Premiums | 515,259 | 550,249 | 608,878 | 655,346 | 746,042 | | Technical Reserves | 418,635 | 412,920 | 451,948 | 476,802 | 586,632 | | Gross Claims | 391,980 | 536,022 | 629,741 | 955,470 | 1,141,365 | | Underwriting Results | 111,657 | 137,595 | 139,594 | 86,098 | 196,705 | | Invesments | 786,586 | 688,669 | 855,044 | 927,050 | 900,565 | | Invesment Income | 71,083 | 63,115 | 92,888 | 107,646 | 95,030 | | Equity | 437,452 | 514,254 | 590,299 | 671,741 | 757,404 | | Profit Before Tax | 101,803 | 108,677 | 117,048 | 104,663 | 163,544 | | Profit After Tax | 82,905 | 88,050 | 92,256 | 94,939 | 120,230 | | Risk Base Capital | 171,28% | 165,61% | 205,97% | 161,38% | 154.19% |
|
|
Company Growth (in million Rupiah) |
| | 2004 | 2005 | 2006 | 2007 | 2008 | | Gross Premiums | 1,969,053 | 2,102,301 | 1,942,268 | 1,925,189 | 2,325,876 | | Total Assets | 1,363,042 | 1,461,653 | 1,544,073 | 1,739,195 | 2,124,255 | | Equity | 437,452 | 514,254 | 590,299 | 671,741 | 757,404 | | Net Profit Before Tax | 101,803 | 108,677 | 117,048 | 104,663 | 163,544 |
|
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