PT VICToRIA InsuRAnCe TbK 51 MANAGEMENT ......premi asuransi bruto sebesar 20,23% atau sebesar...

Lini usaha business line

Pendapatan PremiPremium Income

Pertumbuhan (%)Growth (%)

KlaimClaim

Pertumbuhan (%)Growth (%)2017 2016 2017 2016

Rp miliarRp billion

Rp miliarRp billion

Rp miliarRp billion

Rp miliarRp billion

rangka Kapalmarine hull

1,606.01 1,766.44 (9.08) 1,309.16 1,266.54 3.37

pesawat Udara dan satelitAir Craft and satellites

972.34 1,707.95 (43.07) 355.78 409.59 (13.14)

energi energy

1,638.44 1,829.33 (10.43) 1,598.83 1,547.67 3.31

rekayasaengineering

2,577.47 2,258.82 14.11 1,355.38 1,373.17 (1.30)

Tanggung Gugatliabilities

2,023.24 1,864.62 8.51 247.45 297.75 (16.89)

Kecelakaan Accident

2,198.72 1,394.64 57.66 482.57 514.30 (6.17)

Kesehatan General

4,340.58 4,236.83 2.45 3,524.34 3,429.30 2.77

Kredit Credit

5,169.21 4,667.05 10.76 2,910.54 2,611.23 11.46

penjaminan Penjaminan

1,429.22 1,641.09 (12.91) 276.63 424.34 (34.81)

aneka surety bonds

2,625.15 1,582.82 65.85 988.17 409.74 141.17

Total 63,186.45 61,511.65 2.72 27,652.69 27,134.08 1.91

Dari sisi pendapatan premi, penurunan 3 lini usaha yang mengalami penurunan pada akhir tahun 2017 adalah asuransi pesawat udara dan satelit, asuransi penjaminan, dan asuransi energi. sedangkan, pertumbuhan pendapatan premi berhasil dicatatkan oleh 3 lini usaha teratas, yaitu asuransi aneka, asuransi kecelakaan dan asuransi rekayasa. Dari sisi klaim, penurunan terjadi pada 3 lini usaha, yaitu asuransi penjaminan, asuransi tanggung gugat, serta asuransi pesawat udara dan satelit. sedangkan, pertumbuhan klaim berhasil dicatatkan oleh 3 lini usaha teratas, yaitu asuransi aneka, asuransi pengangkutan, dan asuransi kredit.

Pendapatan premi asuransi kendaraan bermotor pada tahun 2017 mengalami kenaikan sebesar 4,55%. Hal ini sejalan dengan meningkatnya penjualan kendaraan roda 4 sebesar 1,57%, serta kenaikan pada kredit kepemilikan kendaraan bermotor 5,42%. Meskipun terdapat penurunan penjualan kendaraan roda 2 sebesar 0,76%, namun hal tersebut tidak menyebabkan penurunan pada pembentukan premi karena nilai Total Sum Insured (TSI) kendaraan roda 2 yang lebih rendah dari kendaraan roda 4.

Asuransi kredit mengalami pertumbuhan positif sebesar 10,76%. Kenaikan pada asuransi kredit pada tahun 2017 dipengaruhi oleh sektor korporasi yang menunda pengambilan kredit di kuartal-kuartal

In terms of premium income, the decline in 3 business lines that decreased at the end of 2017 was aircraft and satellite insurance, surety bonds, and energy insurance. meanwhile, the growth of premium income was successfully recorded by the top 3 business lines, namely miscellaneous insurance, accident insurance and engineering insurance. In terms of claims, the decline occurred in 3 lines of business, namely surety bonds, liability insurance, and aircraft and satellite insurance. meanwhile, the growth of claims successfully recorded by the top 3 business lines, namely miscellaneous insurance, marine cargo insurance, and credit insurance.

motor vehicle insurance revenues in 2017 increased by 4.55%. This is in line with the increased sales of 4-wheeled vehicles by 1.57%, and an increase in vehicle ownership loans of 5.42%. Although there was a decrease in the sales of 2-wheeled vehicles by 0.76%, it did not cause a decrease in the premiums formation due to lower 2-wheeled vehicles Total sum Insured (TsI) than 4-wheeled vehicles.

Credit insurance experienced positive growth of 10.76%. The increase in credit insurance in 2017 was influenced by the corporate sector that delayed taking credit in previous quarters,

51 ManageMent Discussion anD analysis2017 Annual Report

PT VICTORIA INSURANCE TBK

sebelumnya, kini telah kembali mengambil kredit. Hal ini menyebabkan premi di lini asuransi kredit mengalami peningkatan di akhir 2017.

Sedangkan, asuransi penjaminan pada tahun 2017 mengalami penurunan yang signifikan, yaitu 12,91%. Penurunan terjadi karena penjaminan untuk infrastruktur yang pada umumnya dikerjakan oleh kontraktor Badan Usaha Milik Negara (BUMN) sudah mendapat fasilitas Bank Garansi dari bank.

Harta Benda KendaraanBermotor

rangkaKapal

energipengangkutan TanggungGugat

rekayasa Kecelakaan Kesehatan Kredit anekapenjaminanpesawat Udara &

satelit

20162017

Rasio Klaim Asuransi UmumGeneral Insurance Claim Ratio

32.72

43.70 35.27

81.52

36.59

97.58

52.59

12.23

21.95

81.20

32.72

19.36 37.64

25.89 25.86

55.95

80.94

36.88

15.97

60.79

84.60

23.98

71.70

33.85 44.96

33.67

(Sumber: Asosiasi Asuransi Umum Indonesia)

Tinjauan operasionaloperational Review

sesuai dengan Pasal 3 Anggaran Dasar Perseroan, ruang lingkup kegiatan usaha Perseroan adalah menjalankan kegiatan usaha di bidang asuransi kerugian. Dalam hal menjaga likuiditas yang cukup, Perseroan menerapkan kegiatan underwriting, manajemen risiko, dan strategi investasi yang disiplin dan konservatif agar klaim pembayaran dapat dilakukan tepat waktu. hal ini dicapai dengan berfokus pada underwriting yang prudent, pangsa pasar dan peningkatan portofolio bisnis. Perseroan meningkatkan kepercayaan masyarakat dengan keterbukaan dan dengan cara merespon klaim dan keluhan secara cepat dan efektif sehingga meningkatkan kepuasan pelanggan.

Perseroan menyediakan jasa asuransi umum, baik program standar maupun khusus, termasuk asuransi yang meliputi kebakaran, kendaraan bermotor, angkutan laut, engineering, dan surety bond, kepada pelanggan, antara lain meliputi pelanggan di bidang multifinance, perbankan, badan usaha milik negara, swasta dan individu.

and now has taken credit agan. This has led to a rise in premiums in credit insurance at the end of 2017.

Meanwhile, surety bonds in 2017 has decreased significantly, ie 12.91%. The decline occurred due to surety bodns for infrastructure that was generally executed by the state owned enterprises (bumn) contractor now has received bank Guarantee facility from the bank.

In accordance with Article 3 of the Articles of Association, the scope of the Company's business activities is running insurance business. In maintaining sufficient liquidity, the Company conducts and implements disciplined and conservative underwriting, risk management and investment strategies in order to ensure claim payment in a timely manner. This is achieved by focusing on prudent underwriting, market share, and the expansion of business portfolio. The Company improves public trust through transparency and by responding to claims and complaints quickly and effectively, thereby increasing customer satisfaction.

PT Victoria Insurance Tbk provides general insurance services, both standard and special programs, including insurance covering fire damages, motor vehicles, marine cargo, engineering, and surety bonds, to customers that include multi finance institutions, banks, state-owned enterprises, private companies, and individuals.

52AnAlisis dAn PembAhAsAn mAnAjemen laporan Tahunan 2017

PT ViCTORiA insURAnCe TbK

segmen operasisegmen usaha Perseroan dibagi dalam 6 kelompok segmen, yaitu segmen asuransi properti, asuransi kendaraan bermotor, asuransi kecelakaan diri, asuransi pengangkutan, asuransi rekayasa, dan asuransi lain-lain.

Premi Asuransi bruto

(dalam jutaan Rupiah / in million Rupiah)

KeteranganDescription 2017 2016

PertumbuhanGrowth

Rp %

propertiProperties

24,472 38,025 (13,553) (35.64)

Kendaraan Bermotormotor Vehicle

6,801 8,162 (1,361) (16.67)

pengangkutanmarine Cargo

1,678 1,775 (97) (5.47)

Kecelakaan DiriPersonal Accident

16,853 15,192 1,661 10.94

rekayasaengineering

402 1,154 (752) (65.15)

lain-lainmiscellaneous

1,439 435 1,004 230.74

jumlahTotal

51,645 64,742 (13,097) (20.23)

Pada tahun 2017, Perseroan mencatat penurunan jumlah premi asuransi bruto sebesar 20,23% atau sebesar Rp13,10 miliar, menjadi Rp51,65 miliar dari Rp64,74 miliar di tahun 2016. Penurunan ini terutama disebabkan oleh penurunan premi asuransi rekayasa dan asuransi properti masing-masing sebesar 65,15% dan 35,64%.

Premi Asuransi neto


KeteranganDescription 2017 2016

PertumbuhanGrowth

Rp %

propertiProperties

7,760 4,419 3,342 75.62

Kendaraan Bermotormotor Vehicle

7,829 6,319 1,510 23.89

pengangkutanmarine Cargo

878 983 (104) (10.62)

Kecelakaan DiriPersonal Accident

15,503 13,754 1,749 12.71

rekayasaengineering

191 250 (58) (23.36)

lain-lainmiscellaneous

294 189 105 55.67

jumlahTotal

32,456 25,914 6,543 25.25

operating segmentThe Company’s business segments are divided into six namelyproperty insurance, motor vehicle insurance, personal accident insurance, marine cargo insurance, engineering insurance, and miscellaneous segments.

Gross Premium Income

In 2017, the Company recorded a decrease in the amount of gross premium income by 20.23% or Rp13.10 billion, to Rp51.65 billion from Rp64.74 billion in 2016. This decrease was mainly due to the decrease of engineering and properties insurance premium income of g5.15% and 35.64% respectively.

net Premium Income



berbeda dengan kinerja premi asuransi bruto, kinerja premi asuransi neto pada tahun 2017 membukukan pertumbuhan sebesar 25,25% atau sebesar Rp6,54 miliar dari Rp 25,91 miliar pada tahun 2016 menjadi Rp32,46 miliar pada tahun 2017. Pertumbuhan premi asuransi neto ini disebabkan adanya peningkatan premi asuransi neto pada properti, kendaraan bermotor, dan kecelakaan diri masing-masing sebesar 75,62%, 23,89%, dan 12,71%.

Aspek Pemasaranmarketing Aspect

Perseroan menyadari pentingnya kegiatan pemasaran yang tepat sasaran dalam rangka mencapai keberhasilan dan keberlanjutan usaha. sesuai dengan Business Plan, pada tahun 2017, Perseroan telah melaksanakan strategi pemasaran berikut.1. Restrukturisasi portofolio bisnis, termasuk sumber bisnis;

2. mengembangkan dan memaksimalkan bisnis dari Grup;3. mengembangkan bisnis kerja sama dengan bank daerah;4. mengembangkan bisnis pialang asuransi (terutama yang

menangani akun Grup);5. mengembangkan bisnis agency; dan6. mengembangkan produk digital Perseroan.

Tinjauan Keuanganfinancial Review

Laporan Laba Rugi dan Penghasilan Komprehensif LainStatements Of Profit Or Loss And Other Comprehensive Income


UraianDescription 2017 2016

PertumbuhanGrowth

Rp %

pendapatan Usahaoperating Income

45,599 38,133 7,466 19,58

Beban Usahaoperating expenses

37,086 29,899 7,177 24

laba sebelum pajakProfit Before Tax

8,513 8,234 279 3.38

Manfaat (Beban) pajakTax Benefit (Expenses)

302 (242) 544 225.14

laba Tahun Berjalan Profit for the Year

8,815 7,992 822 10.29

penghasilan Komprehensif lainother Comprehensive Income

13,636 (6,027) 19,663 326.25

jumlah laba Komprehensif Tahun BerjalanTotal Comprehensive Income for the Year

22,451 1,965 20,486 1,042.64

laba per saham Dasar (dalam rupiah penuh)basic earnings per share (in full amount Rupiah)

6.07 5.51 1 10.16

In contrast to the gross premium income performance, the net premium income performance in 2017 recorded growth of 25.25% or Rp6.54 billion from Rp 25.91 billion in 2016 to Rp32.46 billion in 2017. The growth of this net insurance premium was due to an increase in net premium income on properties, motor vehicles, and personal accidents insurances by 75.62%, 23.89% and 12.71%, respectively.

The Company recognizes the importance of on target marketing activities in order to achieve business success and sustainability. In accordance with the business Plan, in 2017, the Company has implemented the following marketing strategies.1. Restructured its business portfolios, including business

sources;2. Developed and maximized business from the Group;3. Developed business cooperation with regional banks;4. Developed an insurance brokerage business (especially

those dealing with Group accounts);5. Developed agency business; and6. Developed Company's digital products.



Pendapatan usahaPada tahun 2017, Perseroan membukukan pendapatan usaha sebesar Rp45,60 miliar, meningkat sebesar 19,58% dari Rp38,13 miliar di tahun 2016. Kenaikan tersebut berasal dari pendapatan investasi sebesar Rp1,59 miliar dan kenaikan dari pendapatan premi neto dan komisi neto sebesar Rp5,89 miliar.

beban usahabeban Perseroan di tahun 2017 naik 24% atau sebesar Rp7,18 miliar menjadi Rp37,08 miliar pada tahun 2017 dari Rp29,90 miliar pada tahun 2016. Peningkatan ini terutama disebabkan oleh meningkatnya beban klaim sebesar Rp4,38 miliar dan ada beban penurunan nilai investasi sebesar Rp2,4 miliar.

laba Tahun berjalansejalan dengan meningkatnya laba sebelum pajak, laba tahun berjalan Perseroan mengalami kenaikan sebesar 10,29% atau sebesar Rp0,82 miliar dari Rp7,99 miliar di tahun 2016 menjadi Rp8,82 miliar di tahun 2017.

Penghasilan Komprehensif lainselama tahun 2017, Perseroan mencatat pendapatan komprehensif lain sebesar Rp13,64 miliar, meningkat signifikan sebesar Rp19,66 miliar dari beban komprehensif lain sebesar Rp6,03 miliar pada tahun 2016. Peningkatan tersebut dikarenakan meningkatnya keuntungan yang belum direalisasi atas kenaikan nilai wajar efek tersedia untuk dijual.

jumlah laba Komprehensif Tahun berjalanPeningkatan penghasilan komprehensif lain semakin mendorong pertumbuhan laba komprehensif tahun berjalan menjadi sebesar Rp22,45 miliar, meningkat signifikan sebesar Rp20,49 miliar dari Rp1,97 miliar pada tahun 2016.

laba Per saham DasarPeningkatan laba tahun berjalan telah mendorong peningkatan laba per saham dasar yang tercatat sebesar Rp6,07,- pada tahun 2017 dari sebesar Rp5,51,- pada tahun 2016.

laporan Posisi Keuangan Aset


UraianDescription

TahunYear

PertumbuhanGrowth

2017 2016 Rp %

Aset Keuangan / Financial Assets

Kas dan BankCash on hand and bank

pihak Berelasi Related Parties

1,117 779 338 43.44

operating IncomeIn 2017, the Company recoreded operating income amounted to Rp45.60 billion, increased by 19.58% from Rp38.13 billion in 2016. The increase came from investment income amounted to Rp1.59 billion and an increase in net premium income and net commission of Rp5.89 billion.

operating expensesThe Company's expenses in 2017 increased by 24% or Rp7.18 billion to Rp37.08 billion in 2017 from Rp29.90 billion in 2016. This increase was primarily due to the increase in claims expense of Rp4.38 billion and an investment cost reduction amounting to Rp2.4 billion.

Profit for the YearIn line with the increase in profit before tax, the Company's profit for the year increased by 10.29% or Rp0.82 billion from Rp7.99 billion in 2016 to Rp8.82 billion in 2017. The increase in profit for the year in 2017 was also caused by increase in tax benefit.

other Comprehensive IncomeDuring 2017, the Company recorded other comprehensive income amounted to Rp13.64 billion, a significant increase of Rp19.66 billion from other comprehensive expenses amounted to Rp6.03 billion in 2016. such increase was due to the increase in unrealized gain on the increase in fair value of available-for-sale securities.

Total Comprehensive Income for the Year

other comprehensive income increases further boosted the comprehensive income for the year to Rp22.45 billion, a significant increase of Rp20.49 billion from Rp1.97 billion in 2016.

basic earnings Per shareThe increase in profit for the year has led to an increase in basic earnings per share of Rp6.07 in 2017 from Rp5.51 in 2016.

statement of financial PositionAssets



UraianDescription

TahunYear

PertumbuhanGrowth

2017 2016 Rp %

pihak KetigaThird Parties

1,359 1,097 262 23.89

piutang premiPremium Receivables


1,489 1,751 (262) (14.97)

pihak Ketiga Third Parties

10,491 22,036 (11,545) (52.39)

piutang reasuransiReinsurances Receivables

2,561 12,670 (10,109) (79.79)

piutang lain-lainother Receviables

pihak BerelasiRelated Parties

245 17 228 1314.91

pihak Ketiga - setelah dikurangi cadangan kerugianThird Parties – after deducted by losses allowance

13,273 1,963 11,310 576.11

aset reasuransiReinsurance Assets

22,457 20,671 1,786 8.64

investasiInvestment

Deposito Berjangka Time Deposit


1,500 5,500 (4,000) (72.73)

pihak KetigaThirs Parties

34,855 53,500 (18,645) (34.85)

efek Tersedia Untuk Dijual Available-for-sale securities

efek UtangDebt securities


15,613 - 15,613 -


84,878 60,825 24,053 39.55%

efek ekuitas equity securities


21,549 11,853 9,696 81.80


8,281 13,035 (4,754) (36.47)

efek ekuitas equity securities


3,271 1,011 2,261 223.73


7,371 6,754 616 9.12

aset lain-lainother Assets

291 267 24 8.96

Jumlah Aset KeuanganTotal Financial Assets

208,144 193,058 15,086 7.81

Aset Non KeuanganNon Financial Assets

penyertaan lainother Investment

18,140 14,490 3,650 25.19

properti investasi - bersihInvestment Properties – net

3,051 3,101 (50) (1.61)

Biaya Dibayar DimukaPrepaid expenses

459 758 (298) (39.38)



UraianDescription

TahunYear

PertumbuhanGrowth

2017 2016 Rp %

aset Tetap - setelah dikurangi akumulasi penyusutanfixed Assets – after deducted by accumulated depreciation

1,392 1,636 (244) (14.91)

aset pajak TangguhanDeferred Tax Assets

- 161 (161) (100.00)

Jumlah Aset Non KeuanganTotal Non Financial Assets

45,499 40,817 4,682 11.47

Jumlah AsetTotal Assets

253,643 233,875 19,768 8.45

Aset KeuanganPer 31 Desember 2017, aset keuangan Perseroan naik 7,81% atau sebesar Rp15,09 miliar dari Rp193,06 miliar pada tahun 2016 menjadi Rp208,14 miliar pada tahun 2017. Kenaikan tersebut khususnya berasal dari meningkatnya investasi yang tersedia untuk dijual sebesar Rp24,84 miliar.

Aset non KeuanganAset non keuangan Perseroan pada tahun 2017 tercatat sebesar Rp45,50 miliar, meningkat sebesar Rp4,69 miliar atau 11,47% dibandingkan tahun 2016 yang sebesar Rp40,81 miliar. naiknya aset non keuangan Perseroan khususnya disebabkan oleh aset reasuransi yang mengalami peningkatan sebesar Rp1,79 miliar dan penyertaan langsung sebesar Rp3,65 miliar.

liabilitas


KeteranganDescription

TahunYear

PertumbuhanGrowth

2017 2016 (Rp) %

liabilitas Keuanganfinancial liabilities

Utang KlaimClaim Payable

391 63 329 524.29

Utang reasuransiReinsurance Payable

7,265 13,668 (6,403) (46.85)

Utang KomisiCommission Payable


- 3 (3) (100.00)

pihak Ketiga Third Parties

638 3,647 (3,009) (82.51)

Beban akrualAccrued expenses

1,130 1,473 (343) (23.27)

Utang lain-lainother Payables

834 738 96 12.95

jumlah liabilitas KeuanganTotal Financial Liabilities

10,259 19,592 (9,333) (47.64)

liabilitas non Keuangannon-financial liabilities

Utang pajakTax Payable

66 185 (118) (64.09)

liabilitas Kontrak asuransiInsurance Contract liabilities

49,783 46,187 3,596 7.79

financial AssetsAs of December 31, 2017, the Company's financial assets increased by 7.81% or Rp15.09 billion from Rp193.06 billion in 2016 to Rp208.14 billion in 2017. The increase was primarily derived from increases in available-for-sale investments amounted to Rp24, 84 billion.

non-financial AssetsThe Company's non-financial assets in 2017 was amounted to Rp45.50 billion, an increase of Rp4.69 billion or 11.47% compared to Rp40.81 billion in 2016. The increase in the Company's non-financial assets was primarily due to reinsurance assets that increased by Rp1.79 billion and direct investments of Rp3.65 billion.

liabilities




TahunYear

PertumbuhanGrowth

2017 2016 (Rp) %

liabilitas imbalan Kerja jangka panjangLong Term Employee Benefit Liabiltiis

839 645 195 30.21

liabilitas pajak TangguhanDeferred Tax liabilities

2,793 - 2,793 -

Jumlah Liabilitas Non KeuanganTotal Non Financial Liabilities

53,482 47,017 6,466 13.75

Jumlah LiabilitasTotal Liabilities

63,741 66,608 (2,867) (4.30)

liabilitas Keuanganliabilitas keuangan Perseroan per tanggal 31 Desember 2017, telah dibukukan sebesar Rp10,26 miliar, mengalami penurunan sebesar 47,64% dari Rp19,60 miliar di tahun 2016. beberapa faktor penyebab penurunan liabilitas Perseroan adalah turunnya utang komisi dan utang reasuransi masing-masing sebesar 82,51% dan 46,85%.

liabilitas non Keuangansepanjang tahun 2017, liabilitas non keuangan mengalami peningkatan sebesar Rp6,47 miliar atau 13,75% dari Rp47,02 miliar pada tahun 2016 menjadi Rp53,48 miliar pada tahun 2017. naiknya liabilitas non keuangan dikarenakan adanya peningkatan liabilitas kontrak asuransi sebesar Rp3,60 miliar dan liabilitas pajak tangguhan sebesar Rp2,80 miliar.

ekuitas

(dalam jutaan Rupiah)


TahunYear

PertumbuhanGrowth

2017 2016 (Rp) %

Modal sahamshare Capital

145,217 145,049 168 0.12

Tambahan Modal DisetorAdditional Paid In Capital

94 78 17 21.59

Keuntungan (Kerugian) Belum Direalisasi atas perubahan nilai Wajar efek Tersedia untuk Dijualunrealized Gain (loss) on Changes in fair Value of Available-for-sale securities

10,810 (2,884) 13,694 (474.76)

saldo labaRetained earnings

Ditentukan penggunaannya Appropriated

2,000 1,000 1,000 100.00

Tidak Ditentukan penggunaannya unappropriated

31,781 24,024 7,757 32.29

Jumlah EkuitasTotal Equity

189,902 167,266 22,636 13.53

jumlah ekuitas Perseroan per tanggal 31 Desember 2017 sebesar Rp189,90 miliar, naik sebesar Rp22,64 miliar atau 13,53% dibandingkan tahun 2016 yang tercatat sebesar Rp167,27 miliar. Peningkatan jumlah ekuitas terutama disebabkan oleh meningkatnya saldo laba sebesar Rp8,76 miliar dan kenaikan yang belum direalisasikan atas perubahan nilai wajar efek tersedia untuk dijual sebesar Rp13,69 miliar.

financial liabilitiesThe Company's financial liabilities as of December 31, 2017 was recorded at Rp10.26 billion, a decrease by 47.64% from Rp19.60 billion in 2016. some of the factors contributed to the decrease in the Company's liabilities were the decrease of commission debt and reinsurance debt of 82.51% and 46.85% respectively.

non-financial liabilitiesThroughout 2017, non-financial liabilities increased by Rp6.47 billion or 13.75% from Rp47.02 billion in 2016 to Rp53.48 billion in 2017. The increase in non-financial liabilities was due to an increase in insurance contract liability of Rp3.60 billion and deferred tax liabilities of Rp2.80 billion.

equity

The Company’s total equity as of December 31st, 2017 was amounted to Rp189.90 billion, an increase of Rp22.64 billion or 13.53% compared to Rp167.27 billion in 2016. The increase in total equity was primarily due to an increase in retained earnings of Rp8.76 billion and unrealized gain on changes in fair value of available-for-sale securities amounting to Rp13.69 billion.



laporan Arus Kas(dalam jutaan Rupiah / in million Rupiah)


TahunYear

PertumbuhanGrowth

2017 2016 (Rp) %

Arus Kas Dari (Untuk ) Aktivitas OperasiCash Flow From (Used In) Operating Activities

penerimaan :Proceeds :

premi Premium

63,985 54,780 9,205 16.80

Klaim reasuransi Reinsurance claim

15,146 6,831 8,315 121.72

Komisi Commission

3,649 8,695 (5,046) (58.03)

lain-lain others

123 - 123 -

pembayaran:Payment:

premi reasuransi Reinsurance premium

(28,902) (30,778) (1,876) (6.10)

Klaim Claim

(20,372) (24,228) (3,856) (15.91)

Komisi Commission

(4,942) (4,588) 353 7.70

Beban usaha operating expenses

(14,168) (12,421) 1,747 14.07

pajak penghasilan Tax income

(334) (620) (286) (46.08)

lain-lain others

- (440) (440) (100.00)

Jumlah Arus Kas Dari (Untuk ) Aktivitas OperasiTotal Cash Flow From (Used In) Operating Activities

14,185 (2,770) 16,955 612.06

Arus Kas Dari (Untuk ) Aktivitas InvestasiCash Flow From (Used In) Investing Activities

pencairan:Proceeds:

efek tersedia untuk dijual Available-for-sale securities

27,879 28,203 (324) (1.15)

Deposito berjangka Time deposit

27,500 14,500 13,000 89.66

penerimaan hasil investasiProceed of investment income

11,091 11,367 (276) (2.43)

penempatanPlacement


(71,318) (22,925) 48,393 211.09

Deposito berjangka Time Deposit

(4,851) (11,500) (6,649) (57.81)

penyertaan sahamInvestment in shares of stocks

(3,650) (14,400) (10,750) (74.65)

perolehan:Proceeds:

aset tetap fixed assets

(204) (223) (19) (8.61)

properti investasi Investment properties

- (3,101) (3,101) (100.00)

pembayaran utang pembelian kendaraanPayment of loan for purchse of vehicles

(216) (517) (302) (58.29)

Jumlah Arus Kas Dari (Untuk ) Aktivitas InvestasiTotal Cash Flow From (Used In) Investing Activities

(13,769) 1,403 (15,172) (1,081.39)

Cash flow statements




TahunYear

PertumbuhanGrowth

2017 2016 (Rp) %

Arus Kas Dari Aktivitas PendanaanCash Flow From Financing Activities

penambahan modal disetorAdditional paid in capital

184 722 (537) (74.46)

jumlah arus Kas Dari aktivitas pendanaanTotal Cash flow from financing Activities

184 722 (537) (74.46)

Kenaikan (penurunan) neto Kas Dan Banknet increase (Decrease) in Cash and bank

600 (645) 1,246 193.04

Kas Dan Bank awal TahunCash and banks at the beginning of the Year

1,876 2,521 (645) (25.60)

Kas Dan Bank akhir TahunCash and banks at the end of the Year

2,476 1,876 600 32.01

Arus Kas dari (untuk ) Aktivitas operasi

Perseroan mencatat arus kas dari aktivitas operasi sebesar Rp14,19 miliar di tahun 2017, meningkat sebesar 612,06% dibandingkan tahun sebelumnya. Peningkatan tersebut disebabkan oleh meningkatnya penerimaan premi dan klaim reasuransi masing-masing sebesar 16,80% dan 121,72%.

Arus Kas dari (untuk ) Aktivitas Investasi

Arus kas dari aktivitas investasi yang dicatat pada tahun 2016 sebesar Rp1,40 miliar, pada tahun 2017 menjadi Rp(13,77) miliar. hal ini dikarenakan adanya peningkatan dari arus kas operasional sehingga dana tersebut dapat di investasikan.

Arus Kas dari Aktivitas PendanaanArus kas dari aktivitas pendanaan mengalami penurunan sebesar Rp0,54 miliar dari Rp0,72 miliar pada tahun 2016 menjadi Rp0,18 miliar pada tahun 2017. hal ini disebabkan karena pada tahun 2016 ada pemasukan dari amnesti pajak sebesar Rp721,9 juta.

Kemampuan membayar utangberdasarkan Peraturan jasa otoritas jasa Keuangan no. 71/PojK.05/2016 tanggal 23 Desember 2016, Perusahaan setiap tahun wajib menetapkan target tingkat solvabilitas internal paling rendah 120% dari modal minimum berbasis risiko (mmbR) dengan memperhitungkan profil risiko setiap Perusahaan serta mempetimbangkan hasil simulasi scenario perubahan (stress test).

Pada tanggal 31 Desember 2017 dan 2016, rasio pencapaian solvabilitas yang dihitung sesuai dengan Peraturan otoritas jasa Keuangan no. 71/PojK.05/2016 adalah masing-masing sebesar 849,05% dan 793,82%. hal ini menunjukkan kondisi permodalan Perseroan yang sangat sehat dengan kemampuan membayar utang yang meningkat dari tahun sebelumnya.

Cash flows from (used in) operating ActivitiesThe Company recorded cash flow from operating activities amounted to Rp14.19 billion in 2017, an increase of 612.06% from the previous year. The increase was attributed to higher premium income and reinsurance claims of 16.80% and 121.72%, respectively.

Cash flows from (used in) Investing ActivitiesCash flows from investing activities recorded in 2016 was amounted to Rp1.40 billion, increased to Rp(13.77) billion in 2017. This was due to an increase of operating cash flow so that the funds can be invested.

Cash flows from financing ActivitiesCash flows from financing activities decreased by Rp0.54 billion from Rp0.72 billion in 2016 to Rp0.18 billion in 2017. This was due to income from tax amnesty amounted to Rp721.9 million in 2016.

Debt Amortization Capability

based on the financial services Authority Regulation no. 71/PojK.05/2016 dated December 23rd, 2016, the Company has an obligation to establish an internal solvency target of at least 120% of the Risk-based minimum Capital (mmbR) taking into account the risk profile of each companies and consider the results of the stress test simulation.

As of December 31st, 2017 and 2016, the solvency ratios calculated in accordance with the financial services Authority Regulations no. 71/PojK.05/2016 were 849.05% and 793.82%, respectively. This indicated a very healtht Company’s capital condition with an improved ability to repay the debt compare to previous year.



Kolektibilitas PiutangAnalisis tingkat kolektibilitas piutang diperlukan untuk mendapatkan gambaran mengenai kemampuan perusahaan melakukan pengelolaan piutang. Kemampuan Perseroan melakukan kolektibilitas piutang ditunjukan melalui tingkat kolektibilitas piutang pada tahun 2017 yang tercatat 57 hari, lebih rendah dibandingkan dengan tahun 2016 yang tercatat 107 hari. Peningkatan tingkat kolektibilitas piutang tersebut disebabkan oleh selektifnya Perseroan dalam bekerjasama dengan sumber bisnis dan penagihan premi berdasarkan pada standard operating procedur (soP) yang ada.

struktur modalTujuan utama dari pengelolaan modal Perseroan adalah untuk memastikan bahwa Perseroan mempertahankan rasio modal yang sehat dalam rangka mendukung bisnis dan memaksimalkan nilai Pemegang saham. oleh karena itu, Perseroan mengelola struktur modal dan membuat penyesuaian terhadap struktur modal sehubungan dengan perubahan kondisi ekonomi. Perseroan memantau modal dengan menggunakan analisa gearing ratio (rasio utang terhadap modal), yakni membagi utang bersih terhadap jumlah modal.

sesuai dengan Pasal 33 Peraturan otoritas jasa Keuangan no. 71/PojK.05/2016 tanggal 23 Desember 2016 tentang Penyelenggaraan Perusahaan Perasuransian, Perseroan diwajibkan memiliki modal sendiri (ekuitas) minimum sebesar Rp100,00 miliar. Pada tanggal 31 Desember 2017 dan 2016, Perseroan telah memenuhi ketentuan tersebut.

Investasi barang modal dan Ikatan material Terkait Investasi barang modal sepanjang tahun 2017, Perseroan tidak melaksanakan pembelian atau investasi barang modal yang mempunyai nilai yang cukup material, sehingga tidak ada ikatan material terkait dengan investasi barang modal.

Informasi material mengenai Investasi, ekspansi, Divestasi, Akuisisi, atau Restrukturisasi utang dan modal

sepanjang tahun 2017, Perseroan tidak melaksanakan investasi, ekspansi, divestasi, penggabungan/peleburan usaha, akuisisi atau rektrukturisasi utang dan modal.

Receivables CollectibilityAn analysis of the receivables collectibility is necessary to obtain an overview of a company’s ability to manage its receivables. The Company’s ability to collect receivables was shown through the receivables collectibility level in 2017, which is 57 days, lower than in 2016, which recorded 107 days. The increase of the receivables collectibility was due to the selection made by the Company in working with business sources and premium collection based on the existing standard operating Procedures (soPs).

Capital structureThe main objective of the Company’s capital management is to ensure that the Company maintains a sound capital ratio in order to support its business and maximize shareholder value. Therefore, the Company manages the capital structure and makes adjustments to the capital structure in relation to changes in economic conditions. The Company monitors its capital by using gearing ratio analysis, which divides the net debt to the amount of capital.

In accordance with Article 33 of the financial services Authority Regulation no. 71/PojK.05/2016 dated December 23rd, 2016 on the Implementation of an Insurance Company, the Company is required to have a minimum equity of Rp100.00 billion. As of December 31st, 2017 and 2016, the Company has complied with these requirements.

Capital Goods Investment and material Commitment for Capital Goods InvestmentThroughout 2017, the Company did not purchase or invest any capital goods that have material value, so that there is no material commitment associated with capital goods investment.

material Information on Investments, expansions, Divestments, Acquisitions, or Restructuring of Debt and CapitalThroughout 2017, the Company did not undertake any investment, expansion, divestment, merger/consolidation, acquisition or restructuring of debt and capital.



Informasi Transaksi material yang mengandung benturan KepentinganDalam usahanya, Perseroan melakukan transaksi dengan pihak-pihak berelasi sebagaimana yang didefinisikan dalam Pernyataan standar Akuntansi Keuangan (PsAK) no. 7 “Pengungkapan Pihak-pihak berelasi”. seluruh transaksi dengan pihak berelasi dalam jumlah signifikan, baik yang dilakukan dengan atau tidak dengan persyaratan dan kondisi yang sama dengan pihak berelasi.

sifat Pihak berelasiPada tahun 2017 Perseroan melakukan transaksi dengan pihak-pihak yang berelasi di mana transaksi tersebut dilakukan dengan mengacu kepada persyaratan yang disetujui oleh kedua belah pihak. Pihak berelasi tersebut sebagai berikut.1. PT Victoria Investama Tbk merupakan entitas Induk dan

Pemegang saham mayoritas Perseroan;2. PT bank Victoria International Tbk, PT bank Victoria syariah,

PT Victoria sekuritas Indonesia dan PT Victoria manajemen Investasi merupakan perusahaan yang Pemegang sahamnya sama dengan Perseroan;

3. PT magna Investama mandiri Tbk merupakan perusahaan dimana salah satu Pemegang sahamnya merupakan pengurus dari entitas Induk Perseroan.

Transaksi dengan Pihak berelasiDalam melakukan kegiatan usahanya, Perseroan melakukan transaksi tertentu dengan pihak-pihak berelasi, yang antara lain meliputi:1. Perseroan melakukan penempatan rekening giro dan

deposito, investasi, portofolio efek, menerima pertanggungan asuransi, pembayaran beban klaim, pembayaran beban usaha dan pembayaran komisi kepada pihak-pihak berelasi;

2. Perseroan menandatangani perjanjian sewa ruang kantor dengan PT Victoria Investama Tbk.



TahunYear

Persentase terhadap Jumlah Aset/Liabilitas

Percentage of Total Assets/liabilities

2017 2016 2017(%)

2016(%)

asetAssets

KasCash and bank

1,117 779 0.44 0.33

piutang premiPremium Receivables

1,489 1,751 0.59 0.75

piutang lain-lainother Receivables

245 17 0.10 0.01

Information on material Transaction With Conflict of InterestIn its business, the Company engaged into transactions with related parties as defined in the Statement of Financial Accounting standards (PsAK) no. 7 “Related Party Disclosures”. All transactions with related parties were in significant amounts, whether done under the same terms and conditions with related parties or not.

The Characteristic of Related PartiesIn 2017, the Company engaged in transactions with related parties that conducted in accordance with the terms agreed by both parties. The related parties were as follows.

1. PT Victoria Investama Tbk is the Parent entity and majority shareholder;

2. PT bank Victoria International Tbk, PT bank Victoria syariah, PT Victoria sekuritas Indonesia and PT Victoria manajemen Investasi are companies whose shareholders are the same as the Company;

3. PT magna Investama mandiri Tbk is a company in where one of its shareholders is a member of the board of the Company’s Parent entity.

Transactions with Related PartiesIn conducting its business activities, the Company engaged into certain transactions with related parties, including among others:1. The Company undertakes the placement of current account

and deposits, investments, securities portfolios, receiving insurance coverage, payment of claims expense, payment of operating expenses and commission payments to the related parties;

2. The Company entered into an office lease agreement with PT Victoria Investama Tbk.




TahunYear

Persentase terhadap Jumlah Aset/Liabilitas

Percentage of Total Assets/liabilities

2017 2016 2017(%)

2016(%)

investasiInvestment

Deposito berjangka Time deposit

1,500 5,500 0.59 2.35


40,433 18,363 15.94 5.50

Jumlah AsetTotal Assets

44,785 20,911 17.66 8.94

liabilitasliabilities

Utang komisiCommission Payable

- 3 - 0.00

liabilitas kontrak asuransiInsurance contract liabilities

4,646 9,565 7.28 14.36

jumlah liabilitasTotal liabilities

4,646 9,567 7.28 14.36


TahunTahun

Persentase terhadap Jumlah Pendapatan/Beban yang Bersangkutan

Percentage to Amount of Revenue / expenses

2017 2016 2017(%)

2016(%)

pendapatan premiPremium Income

pendapatan premi bruto Gross premium income

11,650 12,595 22.56 19.45

Beban klaimClaim expenses

Beban klaim Claim expenses

1,598 1,254 7.72 5.30

Beban komisi Commission expenses

82 302 3.82 4.61

Beban usahaoperating expenses

990 990 6.75 7.22

penghasilan bunga deposito berjangka dan obligasiInterest on time depostis and bonds

828 242 7.11 2.41

jumlah pendapatan premiTotal Premium Income

15,148 15,382 47.96 38.99



Pencapaian Target Tahun 20172017 Target Achievement

secara umum, kinerja Perseroan pada tahun 2017 cukup baik. Target usaha yang telah ditetapkan sebelumnya sebagian besar telah dapat dicapai.


UraianDescription

Realisasi 20172017 Realization

Target 20172017 Target

PencapaianAchievement

%

Posisi Keuanganfinancial Position

Total asetTotal Assets

253,643 270,614 94

Total liabilitasTotal liabilities

63,741 62,656 102

Total ekuitasTotal equity

189,902 176,732 107

Laba Rugi KomprehensifComprehensive Income statement

pendapatan Income

25,022 54,187 46

Beban expenses

14,672 45,290 32

laba sebelum pajakProfit before Tax

8,513 8,898 96


8,815 8,898 99

Prospek usaha Perusahaan dan Proyeksi Target Tahun 2018Prospek usaha Perusahaanmenurut Asosiasi Asuransi umum Indonesia (AAuI), pertumbuhan ekonomi diyakini dapat mendorong industri asuransi ke arah yang lebih baik lagi, karena industri asuransi tidak dapat terlepas dari keadaan makro ekonomi. Penjualan asuransi properti, seperti asuransi kebakaran dan asuransi kendaraan bermotor, diperkirakan masih akan mendominasi dan menjadi pendorong pertumbuhan untuk tahun 2018. hal tersebut diproyeksikan terjadi seiring dengan pandangan meningkatnya penjualan properti dan tren pada pasar otomotif.

Pada tahun 2018, pertumbuhan Produk Domestik bruto (PDb) sisi produksi pada sektor jasa keuangan dan asuransi ditargetkan tumbuh sebesar 9,2% - 9,6%, yang akan didukung oleh beberapa kebijakan sebagai berikut.

In general, the Company's performance in 2017 was quite good. most of the predetermined business targets have been achieved.

2018 business Prospect and Target Projections

Company business ProspectsAccording to the General Insurance Association of Indonesia (AAuI), economic growth is believed to drive the insurance industry in a better direction, because the insurance industry can not be separated from the macro-economic situation. The sale of property insurance, such as fire and motor vehicle insurance, is predicted to continue to dominate and drive growth for 2018. It is projected to occur in line with rising property sales and trends in the automotive market.

In 2018, the growth of Gross Domestic Product (GDP) in terms of production on the financial services and insurance sector is targeted to grow by 9.2% - 9.6%, which will be supported by the following policies.



1. Peningkatan keuangan inklusif, melalui perluasan pemanfaatan inovasi teknologi;

2. Peningkatan penetrasi layanan keuangan di desa dan kota, khususnya melalui peningkatan jumlah agen layanan keuangan tanpa kantor (branchless banking), perluasan penggunaan tabungan dengan karakter basic saving account (bsA), serta pembiayaan mikro, dan asuransi mikro dalam rangka pemberdayaan pelaku usaha mikro dan Kecil;

3. Penguatan edukasi keuangan, khususnya terkait pemanfaatan inovasi teknologi dalam layanan keuangan dan perlindungan konsumen; serta

4. Pengembangan keuangan syariah. (sumber: bappenas)

Prospek tersebut memberikan acuan bagi Perseroan untuk terus berkomitmen memberikan layanan terbaik di segmen lini bisnis asuransi agar memaksimalkan kinerja operasional dan keuangan di tahun 2018. selain itu, Perseroan juga telah menyusun strategi usaha, diantaranya:1. Divisi Teknik

a. membuat dan menjalankan pedoman underwriting yang jelas untuk Divisi Marketing dan Underwriting;

b. memperbaiki proses dan prosedur klaim dan memperbaiki proses dan prosedur klaim.

2. Divisi Keuangana. meningkatkan prosedur pengendalian kredit dan reasuransi;b. Tepat waktu dalam pembayaran klaim.

3. Divisi Supporta. mengembangkan produk digital Perseroan;b. membuat kebijakan mengenai Key Performance Indicator

(KPI) untuk semua karyawan.

Proyeksi Target Tahun 2018mempertibangkan besarnya prospek usaha di tahun 2018, maka Perseroan telah menetapkan target proyeksi tahun 2018 untuk kinerja operasional dan kinerja keuangan sebagai berikut.


UraianDescription



Posisi KeuanganFinancial Position

Total asetTotal Assets

253,643 284,334

Total liabilitasTotal liabilities

63,741 74,614

Total ekuitasTotal equity

189,902 209,720

1. Increased financial inclusion, through the expansion of the utilization of technological innovations;

2. Increasing the penetration of financial services in rural and urban areas, particularly through the increase of branchless banking service agents, the expansion of savings accounts with basic saving account (bsA) characteristic, as well as micro financing, and micro insurance for the empowerment of micro and small business actors;

3. Improvement of financial education, particularly on the use of technological innovations in financial services and consumer protection; and

4. Development of Sharia financing. (source: bappenas)

These prospect provides a reference for the Company to continue committing in providing the best service in the insurance business segment in order to maximize its operational and financial performance in 2018. In addition, the Company has also developed business strategies, including:1. engineering Division

a. Prepares and implements clear underwriting guidelines for the marketing and underwriting Division;

b. fixes claim processes and procedures as well as improving the claims processes and procedures.

2. finance Divisiona. Improves the credit and reinsurance control procedures;b. Timely in claim payments.

3. support Divisiona. Developes the Company’s digital products;b. establishes a policy on the Key Performance Indicator

(KPI) for all employees.

Target Projection in 2018Considering the size of the business prospects in 2018, the Company has set a 2018 projection target for its operational performance and financial performance as follows.



UraianDescription



Laba Rugi KomprehensifComprehensive Income statement

pendapatan Income

45,599 51,179

Beban expenses

37,086 37,136

laba sebelum pajakProfit before Tax

8,513 14,043


8,815 14,043

Informasi material yang Terjadi setelah Tanggal Pelaporan Akuntan sampai diterbitkannya laporan Tahunan ini, Perseroan tidak memiliki informasi dan fakta material yang terjadi setelah tanggal laporan Keuangan diterbitkan, sehingga tidak ada informasi terkait dengan jenis transaksi dan dampaknya terhadap kinerja dan risiko usaha di masa yang akan datang.

Perubahan Peraturan Perundang-undangan yang Berpengaruh Signifikan Bagi Perusahaanselama tahun 2017, tidak terdapat perubahan peraturan perundang-undangan yang berdampak signifikan, serta tidak terdapat ketidakpatuhan terhadap peraturan yang relevan terhadap Perseroan.

Perubahan Kebijakan AkuntansiPerseroan telah menerapkan amandemen Pernyataan standar Akuntansi Keuangan (PsAK) dan Interpretasi standar Akuntansi Keuangan (IsAK) baru yang berlaku pada tanggal 1 januari 2017, namun tidak mengakibatkan perubahan substansial terhadap kebijakan akuntansi Perseroan dan tidak memiliki dampak signifikan terhadap laporan keuangan, yaitu:1. PsAK no. 1, Penyajian laporan Keuangan: Prakarsa

Pengungkapan2. PsAK no. 3, laporan Keuangan Interim3. PsAK no. 24, Imbalan Kerja4. PsAK no. 60, Instrumen Keuangan: Pengungkapan5. IsAK no. 31, Interpretasi atas Ruang lingkup PsAK 13:

Properti Investasi6. ISAK No. 32, Definisi dan Hierarki Standar Akuntansi

Keuangan

material Information subsequent to The Date of The Accountant’s Reportuntil the issuance of this Annual Report, the Company does not have any material information and facts subsequent the date the financial statement is issued, so there is no information related to the type of transaction and its impact on future business performance and risk.

Changes in Government Regulations with Significant Impact on The Company

During 2017, there are no legislation changes that has significant impact and there are non-compliance with relevant regulations.

Changes in Accounting PoliciesThe Company has adopted the amendment of the statement of financial Accounting standards (PsAK) and the new Interpretation of financial Accounting standards (IsAK) as of january 1st, 2017, but has not resulted in substantial changes to the Company’s accounting policies and has no significant impact on the financial statements:1. PsAK no. 1, Presentation of financial statements: Disclosure

Initiative2. PsAK no. 3, Interim financial Report3. PSAK No. 24, Employee Benefits4. PsAK no. 60, financial Instruments: Disclosure5. IsAK no. 31, Interpretation of the scope of sfAs 13:

Investment Property6. ISAK No. 32, Definition and Hierarchy of Financial

Accounting standards



TATA KELOLAPERUSAHAANGood Corporate Governance

Komitmen Penerapan Tata Kelola PerusahaanCommitment in the Implementation of Corporate Governance

70

Penerapan Pedoman Tata Kelola Perusahaan TerbukaThe Implementation of Corporate Governance Guideline in a Public Company

70

Rapat umum Pemegang sahamGeneral meeting of shareholders

73

Dewan Komisarisboard of Commissioners

78

Direksiboard of Directors

82

Hubungan Afiliasi Dewan Komisaris dan Direksiboard of Commissioners and board of Directors’ Affiliated Relationship

86

Penilaian Kinerja Dewan Komisaris, Direksi, dan KomitePerformance Assessment on board of Commissioners, board of Directors, Remuneration Committee

87

Remunerasi Dewan Komisaris dan DireksiRemuneration of The board of Commissioners and board of Directors

87

Komite di bawah Dewan KomisarisCommittees under the board of Commissioners

87

organ di bawah Direksiorgans under The board of Directors

95

sistem Pengendalian InternalInternal Control system

104

sistem manajemen RisikoRisk management system

104

Akuntan PublikPublic Accountant

107

Kode etikCode of Conduct

107

budaya PerusahaanCorporate Cultures

109

sanksi AdministratifAdministrative sanctions

110

Whistleblowing SystemWhistleblowing system

110

68

Komitmen Penerapan Tata Kelola PerusahaanCommitment in The Implementation of Corporate Governance

usaha perasuransian merupakan usaha yang menjanjikan perlindungan kepada pihak tertanggung dan/atau pemegang polis, sekaligus usaha menghimpun dana masyarakat. Dengan mengemban kedua peran tersebut yang perkembangannya semakin meningkat, maka diperlukan tata kelola perusahaan yang baik (good corporate governance/GCG) untuk menjaga dan meningkatkan perilaku seluruh jajaran Perseroan dalam memenuhi tugas dan tanggung jawab yang telah ditetapkan.

Pelaksanaan GCG di Perseroan dilakukan dengan menerapkan prinsip-prinsip GCG dalam sistem pengelolaan yang berlaku. Prinsip-prinsip GCG tersebut meliputi keterbukaan, akuntabilitas, pertanggungjawaban, independensi, serta kewajaran dan kesetaraan. Prinsip-prinsip tersebut telah tertanam dalam nilai-nilai Perseroan dan menjadi bagian dari budaya kerja Perseroan.

Pada praktiknya, Perseroan telah menerapkan prinsip-prinsip tersebut secara konsisten pada setiap aspek bisnis dan di semua jajaran perusahaan dengan mewujudkan:1. Pelaksanaan tugas dan tanggung jawab Dewan Komisaris

dan Direksi;2. Kelengkapan dan pelaksanaan tugas komite-komite dan

satuan kerja yang menjalankan fungsi pengendalian internal perusahaan;

3. Penerapan fungsi kepatuhan dan manajemen risiko;4. Rencana strategis Perseroan berdasarkan rencana kerja dan

anggaran Perseroan;5. Transparansi informasi, termasuk di antaranya kondisi

keuangan Perseroan.

Penerapan Pedoman Tata Kelola Perusahaan TerbukaThe Implementation of Corporate Governance Guideline in a Public Company

Dalam menerapkan GCG, Perseroan berpedoman pada perundang-undangan, serta peraturan dan ketentuan yang diterbitkan regulator. salah satunya adalah surat edaran otoritas jasa Keuangan no. 32/seojK.04/2015 tentang Pedoman Tata Kelola Perusahaan Terbuka yang diuraikan sebagai berikut.

No. Aspek/Prinsip/RekomendasiAspects/Principles/Recommendations

PenerapanImplementation

i. Hubungan perusahaan Terbuka dengan pemegang saham Dalam Menjamin Hak-Hak pemegang sahamThe Relationship between a Public Company with the shareholders in ensuring the shareholders’ Rights

1. Meningkatkan nilai penyelenggaraan rapat Umum pemegang saham (rUps).Improve the Value in organizing the General meeting of shareholders (Gms)

Insurance business is a business that promises protection to the insured and/or policyholder, as well as a business to raise public funds. by carrying out these two roles with increasing development, Good Corporate Governance (GCG) is required to maintain and improve the behavior of the Company’s employees in fulfilling its predetermined duties and responsibilities.

The implementation of GCG in the Company is carried out by applying GCG principles in the applicable management system. The principles of GCG include transparency, accountability, responsibility, independence, fairness and equality. These principles have been embedded in the Company’s values and become part of the Company’s work culture.

In practice, the Company has consistently applied the aforementioned principles to every aspect of its business and throughout its organizational structure through the following activities:1. The implementation of the board of Commissioners’ and

board of Directors’ duties and responsibilities.2. The establishment of committees and work units as well as

the implementation of their internal control functions.3. The implementation of compliance and risk management

functions.4. The preparation of the Company’s strategic plans based on

Work Plan and budget (RKAP).5. Information disclosure including the Company’s financial

condition.

In implementing the GCG, the Company is guided by prevailing legislation, as well as regulations and stipulation issued by the regulator. one such guideline is the Circular letter of the financial services Authority no. 32/seojK.04/2015 on the Code of Corporate Governance of Public Companies outlined as follows.

70TaTa Kelola Perusahaan laporan Tahunan 2017

PT VICTorIa InsuranCe TBK



a. perusahaan terbuka memiliki cara atau prosedur teknis pengumpulan suara (voting), baik secara terbuka maupun tertutup yang mengedepankan independensi, dan kepentingan pemegang saham.A public company has a technical procedure or method in voting, either in open or closed, which prioritizes the independence and interests of the shareholders.

Berdasarkan anggaran Dasar dan peraturan perusahaan terkait pelaksanaan rUps, mekanisme pengambilan keputusan dalam rapat dilakukan dengan cara musyawarah untuk mufakat. apabila musyawarah untuk mufakat tidak tercapai, maka dilakukan pemungutan suara.In accordance with the Articles of Association and other company regulations on the Gms execution, the decision-making mechanism in the Gms must be made based on common agreement. If common agreement is not reached, then resolutions will he made by voting.

b. seluruh anggota Direksi dan anggota Dewan Komisaris perusahaan terbuka hadir dalam rUps Tahunan.All members of the board of Directors and the board of Commissioners of a publicly listed company must be present at the AGms.

rUps Tahunan perseroan dihadiri oleh seluruh anggota Direksi dan Dewan Komisaris.The Company’s Annual General meeting of shareholders of attended by all members of the board of Directors and board of Commissioners

c. ringkasan risalah rUps tersedia dalam situs web perusahaan terbuka paling sedikit selama 1 tahun.The minutes of meeting’s summary of the Gms is available on the Company’s website for at least 1 year.

rUps Tahunan perseroan dihadiri oleh seluruh anggota Direksi dan Dewan Komisaris.The Company’s Annual General meeting of shareholders of attended by all members of the board of Directors and board of Commissioners

2. Meningkatkan Kualitas Komunikasi perusahaan Terbuka dengan pemegang saham atau investor.Improve the Communication Quality of a Public Company with the shareholders or Investor.

a. perusahaan terbuka memiliki suatu kebijakan komunikasi dengan pemegang saham atau investor.A public company must have a communication policy with its shareholders or Investor

perseroan memiliki kebijakan komunikasi dengan pemegang saham atau investor perseroan dan telah dilakukan melalui website dan email [email protected] policy, the communication with the Company’s shareholders and Investor was done via the website and email [email protected].

b. perusahaan terbuka mengungkapkan kebijakan komunikasi perusahaan terbuka dengan pemegang saham atau investor dalam situs web.Public companies disclose its communications policy with the shareholders or investors on the website.

perseroan mengungkapkan kebijakan komunikasi dengan pemegang saham atau investor dalam Kebijakan GCG yang telah dimuat dalam website perseroan.The Company discloses its communications policy with the shareholders or Investors in the GCG Policy contained in the Company’s website.

ii. Fungsi dan peran Dewan KomisarisThe function and Role of the board of Commissioners

3. Memperkuat Keanggotaan dan Komposisi Dewan Komisaris.empowered the membership and Composition of the board of Commissioners.

a. penentuan jumlah anggota Dewan Komisaris mempertimbangkan kondisi perusahaan terbuka.The determination of the number of the board of Commissioners’ member must consider the condition of the public company.

penentuan jumlah anggota Dewan Komisaris telah dilakukan berdasarkan kondisi perseroan.The determination of the number of the board of Commissioners member has considered the Company’s condition

b. penentuan komposisi anggota Dewan Komisaris memperhatikan keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan.The determination of the composition of the board of Commissioners member must takes into account the diversity of skills, knowledge, and experience required.

Komposisi anggota Dewan Komisaris perseroan telah dilakukan dengan memperhatikan keberagaman keahlian, pengetahuan dan pengalaman yang dibutuhkan, dengan komposisi 1 Komisaris Utama dan 2 Komisaris independen.The composition of the board of Commissioners members has been conducted by taking into account the diversity of skills, knowledge and experience required with the composition of 1 President Commissioner 2 Independent Commissioners.

4. Meningkatkan Kualitas pelaksanaan Tugas dan Tanggung jawab Dewan Komisaris.Improve the Quality of the execution of the Duties and Responsibilities of the board of Commissioners.

a. Dewan Komisaris mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris.The board of Commissioners has a self assessment policy to assess the performance of the board of Commissioners.

penilaian kinerja Dewan Komisaris perseroan dilakukan oleh Komite nominasi dan remunerasi.The description of the board of Commissioners’ performance assessment has been published in this Annual Report.

b. Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Dewan Komisaris, diungkapkan melalui laporan Tahunan perusahaan terbuka.The self assessment policy to assess the performance of the board of Commissioners should be disclosed in the Public Company’s Annual Report.

Uraian penilaian kinerja Dewan Komisaris telah disampaikan dalam laporan Tahunan ini.The description of the board of Commissioners’ performance assessment has been published in this Annual Report.

71 Good Corporate GovernanCe2017 Annual Report




c. Dewan Komisaris mempunyai kebijakan terkait pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan.The board of Commissioners has a policy related to the resignation of members of the Board of Commissioners if they are involved in a financial crime.

Kebijakan terkait dengan pengunduran diri anggota Dewan Komisaris apabila terlibat dalam kejahatan keuangan telah diatur dalam pedoman Kerja Dewan Komisaris.The policy related to the resignation of members of the Board of Commissioners if they are involved in a financial crime has been regulated in the Work Guidelines for The board of Commissioners.

d. Dewan Komisaris atau Komite yang menjalankan fungsi nominasi dan remunerasi menyusun kebijakan suksesi dalam proses nominasi anggota Direksi.The board of Commissioners or the Committee performing the nomination and Remuneration functions shall establish a succession policy in the nomination process of the board of Directors’ members.

Dewan Komisaris menjalankan fungsi nominasi dan remunerasi dengan dibantu oleh Komite nominasi dan remunerasi. seluruh kebijakan yang dianggap perlu kemudian akan direkomendasikan kepada pemegang saham melalui rUps.The board of Commissioners performs the nomination and remuneration function with the assistance of the nomination and Remuneration Committee. All policies deemed necessary then will be recommended to the shareholders through the Gms.

iii. Fungsi dan peran DireksiThe function and Roles of the board of Directors

5. Memperkuat Keanggotaan dan Komposisi Direksi.empowered the membership and Composition of the board of Directors.

a. penentuan jumlah anggota Direksi mempertimbangkan kondisi perusahaan terbuka, serta efektifitas dalam pengambilan keputusan.The determination of the number of the board of Directors members must consider the conditions of a Public Company, as well as the effectiveness in the decision making process.

penentuan jumlah anggota Direksi telah dilakukan berdasarkan kondisi perseroan.The determination of the number of the board of Directors members has been made based on the Company’s condition.

b. penentuan komposisi anggota Direksi memperhatikan, keberagaman keahlian, pengetahuan, dan pengalaman yang dibutuhkan.The determination of the composition of the board of Directors member must takes into account the diversity of skills, knowledge, and experience required.

penentuan komposisi anggota Direksi telah dilakukan dengan memperhatikan keberagaman keahlian, pengetahuan dan pengalaman yang dibutuhkan.The determination of the composition of the board of Commissioners member has taken into account the diversity of skills, knowledge, and experience required.

c. anggota Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/atau pengetahuan di bidang akuntansi.Members of the Board of Directors in charge of accounting or finance must have expertise and/or knowledge in accounting.

Direksi yang membawahi bidang akuntansi atau keuangan memiliki keahlian dan/atau pengetahuan di bidang akuntansi.member of the board of Directors in charge of accounting or finance has expertise and / or knowledge in accounting.

6. Meningkatkan Kualitas pelaksanaan Tugas dan Tanggung jawab Direksi.Improve the Quality of the execution of the Duties and Responsibilities of the board of Directors.

a. Direksi mempunyai kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi.The board of Directors has a self assessment policy to assess the performance of the board of Directors.

penilaian kinerja Direksi perseroan dilakukan oleh Komite nominasi dan remunerasi.The performance assessment of the board of Directors was conducted by the nomination and Remuneration Committee.

b. Kebijakan penilaian sendiri (self assessment) untuk menilai kinerja Direksi diungkapkan melalui laporan tahunan perusahaan terbuka.The self assessment policy to assess the performance of the board of Directors should be disclosed in the Public Company’s Annual Report.

Uraian penilaian kinerja Direksi telah disampaikan dalam laporan Tahunan ini.The description of the board of Directors’ performance assessment has been published in this Annual Report.

c. Direksi mempunyai kebijakan terkait pengunduran diri anggota Direksi apabila terlibat dalam kejahatan keuangan.The board of Directors has a policy related to the resignation of members of the Board of Directors if they are involved in a financial crime.

Uraian penilaian kinerja Direksi telah disampaikan dalam laporan Tahunan ini.The policy related to the resignation of members of the Board of Directors if they are involved in a financial crime has been regulated in the Work Guidelines for The board of Directors.

iV. partisipasi pemangku KepentinganParticipation of the stakeholders

7. Meningkatkan aspek Tata Kelola perusahaan melalui partisipasi pemangku Kepentingan.Improve the Corporate Governance Aspect through the Participation of the stakeholders.

a. perusahaan terbuka memiliki kebijakan untuk mencegah terjadinya insider trading.a public company must have policies to prevent the occurrence of insider trading.

perseroan telah memiliki kebijakan untuk mencegah terjadinya insider trading yang diatur dalam Kode etik perusahaan.The Company already has policies to prevent the occurrence of insider trading that governed in the Company’s Code of Conduct.

b. perusahaan terbuka memiliki kebijakan anti korupsi dan anti fraud.A public company must have policies on anti-corruption and anti-fraud.

perseroan telah memiliki kebijakan untuk mencegah terjadinya korupsi dan fraud yang diatur dalam Kode etik perusahaan.The Company already has policies on anti-corruption and anti-fraud that governed in the Company’s Code of Conduct.





c. perusahaan terbuka memiliki kebijakan tentang seleksi dan peningkatan kemampuan pemasok atau vendor.A public company must have policies on the selection and improvement of the suppliers or vendors capabilities

perseroan telah memiliki kebijakan untuk mencegah terjadinya korupsi dan fraud yang diatur dalam Kode etik perusahaan.The Company already has a policy in having cooperation with working partners that are governed by the Code of Conduct and related company’s regulations.

d. perusahaan terbuka memiliki kebijakan tentang pemenuhan hak-hak kreditur.A public company must have policies on the fulfillment of creditor’s rights.

perseroan telah memiliki kebijakan sistem whistleblowing yang diatur dalam Kode etik perusahaan.The Company already has a policy on the fulfillment of creditor’ rights as regulated in the Company’s Code of Conduct.

e. perusahaan terbuka memiliki kebijakan sistem whistleblowing.An public company must have a whistleblowing system policy.

perseroan telah memiliki kebijakan sistem whistleblowing yang diatur dalam Kode etik perusahaan.The Company already has a whistleblowing system policy as disclosed in this Annual Report and is set implicitly in the Company Code of Conduct.

f. perusahaan terbuka memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan karyawan.A public company must have a long term incentive policy for the board of Directors and employees.

perseroan telah memiliki kebijakan pemberian insentif jangka panjang kepada Direksi dan karyawan.The Company already has a long term incentive policy for the board of Directors and employees.

V. Keterbukaan informasiInformation Disclosure

8. Meningkatkan pelaksanaan Keterbukaan informasi.Improve the Implementation of Information Dislosure.

a. perusahaan terbuka memanfaatkan penggunaan teknologi informasi secara lebih luas, selain situs web, sebagai media keterbukaan informasi.a public company must utilize the use of information technology more widely, in addition to the website, as a medium of information disclosure.

perseroan belum menggunakan media lain, selain website perseroan, untuk keterbukaan informasi. Ke depannya, perseroan akan menggunakan media lainnya sebagai media keterbukaan informasi.The Company has not utilized other medium aside form the Company’s website, for disclosure of information. Going forward, the Company will use other media as an information disclosure medium.

b. laporan Tahunan perusahaan terbuka mengungkapkan pemilik manfaat akhir dalam kepemilikan saham perusahaan terbuka paling sedikit 5%, selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham perusahaan terbuka melalui pemegang saham Utama dan pengendali.A public company’s Annual Report must disclose the final beneficiary ownership in the public company’s shares of at least 5%, aside from the disclosure of the final beneficial owner of a public company’s shares through the Major and Controlling shareholder.

perseroan telah mengungkapkan pemilik manfaat akhir dalam kepemilikan saham perseroan paling sedikit 5%, selain pengungkapan pemilik manfaat akhir dalam kepemilikan saham perseroan melalui pemegang saham Utama dan pengendali.in this annual report, the Company has disclosed the final beneficiary ownership of the Company’s shares of at least 5%, aside from the disclosure of the final beneficial owner of the Company’s shares through the Major and Controlling shareholder.

Rapat umum Pemegang sahamThe shareholders meeting

Rapat umum Pemegang saham (RuPs) adalah organ Perseroan yang berperan dalam mengambil keputusan terkait penggunaan modal perusahaan, pengangkatan dan pemberhentian Dewan Komisaris dan Direksi, serta hal lainnya sebagaimana ditentukan dalam Anggaran Dasar Perseroan, peraturan perundang-undangan, dan Peraturan otoritas jasa Keuangan. Peran tersebut menjadi wewenang RuPs yang tidak dapat diberikan kepada Dewan Komisaris dan/atau Direksi. Dalam melaksanakan wewenangnya, RuPs tidak dapat melakukan intervensi terkait pelaksanaan tugas dan tanggung jawab Dewan Komisaris dan Direksi.

Pelaksanaan RuPs di Perseroan berpedoman pada Peraturan otoritas jasa Keuangan no. 32/PojK.04/2014 tentang Rencana dan Penyelenggaraan Rapat umum Pemegang saham Perusahaan Terbuka.

The General meeting of shareholders (Gms) is the Company’s organ which plays a role in making decisions regarding the utilization of the Company’s capital, appointment and dismissal members of the board of Commissioners and board of Directors, as well as other matters as specified in the Company’s Articles of Association, legislation and Regulations of the financial services Authority. such roles are the authorization of the Gms which may not be granted to the board of Commissioners and/or the board of Directors. In exercising its authority, the Gms cannot intervene in relation to the implementation of the duties and responsibilities of the board of Commissioners and the board of Directors.

The implementation of the Gms is guided by the Regulation of the financial services Authority no. 32/PojK.04/2014 on the Plan and Implementation of a Public Company’s General meeting of shareholders.



Pelaksanaan RuPs Tahun 2017

Pada tahun 2017, Perseroan menyelenggarakan 1 kali RuPs Tahunan dan menyelenggarakan 1 kali RuPs luar biasa. Perseroan melaksanaan RuPs Tahunan pada tanggal 16 juni 2017 di jakarta dan RuPs luar biasa pada tanggal 27 Desember 2017.

hasil RuPs Tahunan Tanggal 16 juni 20171. menyetujui dan mengesahkan laporan Tahunan Perseroan

untuk tahun buku yang berakhir pada tanggal 31 Desember 2016, yang diantaranya meliputi laporan kegiatan usaha dan laporan tugas pengawasan Dewan Komisaris, laporan keuangan Perseroan, neraca dan perhitungan laba/rugi tahunan Perseroan untuk tahun buku yang berakhir tanggal 31 Desember 2016, yang telah diaudit oleh Kantor Akuntan Publik Tjahjadi & Tamara no. 0154/T&T-GA/sh/2017 tanggal 20 maret 2017, serta memberikan pembebasan tanggung jawab sepenuhnya kepada seluruh Dewan Anggota Komisaris dan Direksi Perseroan atas tindakan pengawasan dan pengurusan yang telah dijalankan Dewan Komisaris dan Direksi selama tahun buku yang berakhir pada tanggal 31 Desember 2016 (acquit et de charge), sepanjang tindakan-tindakan tersebut tercermin dalam laporan keuangan Perseroan tersebut.

2. menyetujui penggunaan laba bersih Perseroan tahun buku 2016 sebagai berikut.a. sebesar Rp1.000.000.000,- dialokasikan dan dibukukan

sebagai dana cadangan;b. sebesar Rp6.992.365.154,- dimasukkan dan dibukukan

sebagai laba ditahan yang akan digunakan untuk menambah modal kerja Perseroan; dan

c. Tidak membagikan dividen tunai kepada para Pemegang saham Perseroan.

3. menyetujui untuk memberikan wewenang dan kuasa penuh kepada Direksi Perseroan dengan hak substitusi untuk melakukan segala tindakan yang diperlukan sehubungan dengan keputusan tersebut, satu dan lain hal tanpa ada yang dikecualikan.

4. menyetujui dan mengesahkan laporan realisasi penggunaan dana hasil penawaran umum saham perdana Perseroan.


6. menetapkan bapak loekito saggitariono Direktur utama Perseroan untuk merangkap jabatan sebagai Direktur Kepatuhan Perseroan yang membawahi fungsi kepatuhan sebagaimana diatur dalam Peraturan otoritas jasa Keuangan no. 73/PojK.05/2016 tentang Tata Kelola Perusahaan yang baik bagi Perusahaan Perasuransian.

The Implementation of 2017 Gms

In 2017, the Company held 1 AGms and held one eGms. The Company conducted the AGms on june 16th, 2017 in jakarta and eGms on December 27th, 2017.

The Resolution of the AGms, june 16Th, 20171. Approved and ratified the Company’s Annual Report for

the fiscal year ended on December 31st, 2016, which among others include the Company’s business Activity statements and the board of Commissioners’ supervisory Report, the financial statements, balance sheet and Company’s Annual Profit and Loss for the fiscal year ended on December 31st,

2016, as audited by Tjahjadi & Tamara Public Accounting firm no. 0154/T&T-GA/sh/2017 dated march 20th, 2016, and provided acquittal (acquit et de charge) for the entire members of the board of Commissioners and board of Directors for their supervisory and management actions performed during the fiscal year ended on December 31st, 2016, for as long as such actions were reflected in the Company’s financial statements as mentioned above.

2. Approved the planned utilization of the Company’s net profit for the 2016 fiscal year with the following details:a. Rp1,000,000,000 (one billion Rupiah) set aside as the

Company’s reserve fund;b. Rp6.992.365.154 (six billion, nine hundred and ninety

two million, three hundred and sixty five thousand, one hundred and fifty four Rupiah) recorded as retained earnings, which will be used to supplement the Company’s working capital; and

c. Does not distribute cash dividends to the shareholders.

3. Approved the delegation of authority and full power to the board of Directors with the right of substitution to take whatever action is required regarding the abovementioned resolutions without exception.

4. Approved and ratified the report on the use of proceeds from the Company’s initial public offering;

5. Approved the delegation of authority and full power to the board of Directors with the right of substitution to take whatever action is required regarding the abovementioned resolution without exception.

6. To appoint mr. loekito saggitariono as the President Director and concurrently serves as the Compliance Director in charge of the compliance function as regulated in the financial services Authority Regulation no. 73/PojK.05/2016 regarding Good Corporate Governance for Insurance Companies.



7. menyetujui untuk memberikan wewenang kepada Dewan Komisaris dan Komite Remunerasi Perseroan untuk menetapkan gaji atau honorarium dan tunjangan lainnya bagi anggota Dewan Komisaris Perseroan, serta untuk menetapkan gaji dan tunjangan lainnya bagi anggota Direksi Perseroan.

8. menyetujui memberikan wewenang kepada Dewan Komisaris Perseroan untuk menunjuk kantor akuntan publik independen terdaftar yang akan mengaudit terhadap laporan keuangan dan buku-buku Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2017 dan menetapkan besarnya honorarium kantor akuntan publik independen tersebut, serta persyaratan lain sehubungan dengan penunjukkan tersebut.

Anggota Dewan Komisaris dan Direksi yang hadir pada RuPs Tahunan

Dewan KomisarisKomisaris utama : sulistijowatiKomisaris Independen : Vivekanand Atmaram Tolani @ VikasKomisaris Independen : jimmy Paulus Watulingas

DireksiDirektur utama : loekito saggitarionoDirektur : suryadiDirektur Independen : Drs. fatchurhudaDirektur : Rate margareta

mekanisme Pengambilan Keputusan dalam RuPs Tahunanmekanisme pengambilan keputusan dalam RuPs Tahunan dilakukan dengan cara musyawarah untuk mufakat. Apabila musyawarah untuk mufakat tidak tercapai, maka dilakukan pemungutan suara. Adapun seluruh keputusan tersebut di atas diambil dengan cara musyawarah untuk mufakat.

Realisasi dan Pelaksanaan hasil Keputusan RuPsseluruh keputusan RuPs Tahunan telah dilaksanakan oleh Dewan Komisaris dan Direksi. Perseroan telah menggunakan laba bersih Perseroan sesuai peruntukannya, menetapkan gaji dan honorarium Dewan Komisaris dan Direksi, serta menetapkan kantor akuntan publik yang akan mengaudit laporan keuangan Perseroan untuk tahun buku 2017.

7. Approved the delegation of authority to the board of Commissioners and the Remuneration Committee to determine the salary or honorarium and other benefits for members of the board of Commissioners as well as to determine the salary and other benefits for members of the board of Directors.

8. Approved the delegation of authority to the board of Commissioners to appoint Independent Public Accounting Firm to audit the Company’s financial statements and books for the fiscal year ended on December 31st, 2017, and to determine the honorarium of the Independent Public Accounting firm and other requirements related to the appointment.

members of the board of Commissioners and board of Directors Present During the meetings

Board of CommissionersPresident Commissioner : sulistijowatiIndependent Commissioner : Vivekanand Atmaram Tolani @VikasIndependent Commissioner : jimmy Paulus Watulingas

Board of DirectorsPresident Director : loekito saggitarionoDirector : suryadiIndependent Director : Drs. fatchurhudaDirector : Rate margareta

Decision making mechanism in the Gms

Decision making in the AGms was conducted by means of deliberation to reach consensus. If there were no consensus, the decision will be made by voting. As for all the above decisions are taken by way of deliberation for consensus.

The Realization and Implementation of The Gms ResolutionAll decisions of the AGms have been executed by the board of Commissioners and the board of Directors. The Company has used the Company’s net income in accordance with its designation, determined the salary and honorarium of the board of Commissioners and the board of Directors, and established a public accounting firm that will audit the Company’s financial report for the fiscal year 2017.



hasil RuPs luar biasa Tanggal 27 Desember 20171. menerima pengunduran diri bapak loekito saggitariono

sebagai Direktur utama Perseroan dan Ibu Rate margareta sebagai Direktur Perseroan dan memberikan pembebasan tanggung jawab sepenuhnya (acquit et de charge) kepada bapak loekito saggitariono dan Ibu Rate margareta, sehingga susunan Direksi dan Dewan Komisaris Perseroan menjadi sebagai berikut.Dewan Komisaris Komisaris utama : sulistijowatiKomisaris Independen : Vivekanand Atmaram Tolani

@ VikasKomisaris Independen : jimmy Paulus Watulingas Direksi Direktur : suryadiDirektur Independen : Drs. fatchurhuda

2. memberikan wewenang dan kuasa penuh dengan hak substitusi kepada Direksi Perseroan, baik sendiri-sendiri maupun bersama-sama, untuk melakukan segala tindakan yang diperlukan berkaitan dengan keputusan-keputusan sebagaimana diambil dan atau diputuskan dalam Rapat ini, termasuk tetapi tidak terbatas untuk membuat atau meminta untuk dibuatkan serta menandatangani segala akta untuk menyatakan pengunduran diri Direksi Perseroan dalam akta notaris, serta menegaskan dan menyatakan kedalam akta Pernyataan Keputusan Rapat yang dibuat dihadapan notaris apabila diperlukan, melakukan pemberitahuan kepada menteri hukum dan hak Asasi manusia Republik Indonesia, serta pihak yang berwenang lainnya, apabila ada, sesuai dengan peraturan perundang-undangan yang berlaku.

Anggota Dewan Komisaris dan Direksi yang hadir pada RuPs luar biasa

Dewan KomisarisKomisaris utama : sulistijowatiKomisaris Independen : Vivekanand Atmaram Tolani

@VikasKomisaris Independen : jimmy Paulus WatulingasDireksiDirektur utama : loekito saggitarionoDirektur : suryadiDirektur Independen : Drs. fatchurhuda

mekanisme Pengambilan Keputusan dalam RuPs luar biasa

mekanisme pengambilan keputusan dalam RuPs luar biasa dilakukan dengan cara musyawarah untuk mufakat. Apabila musyawarah untuk mufakat tidak tercapai, maka dilakukan pemungutan suara. seluruh keputusan tersebut di atas diambil dengan cara musyawarah untuk mufakat.

The Resolution of the eGms, December 27Th, 20171. Accepted the resignation of mr. loekito saggitariono as

President Director and mrs Rate margareta as a Director and granting the acquit et de charge to mr. loekito saggitariono and mrs Rate margareta, so the composition of the board of Directors and board of Commissioners were as follows .

Board of Commissioners President Commissioner : sulistijowati Independent Commissioner : Vivekanand Atmaram

Tolani @Vikas Independent Commissioner :jimmy Paul Watulingas Board of Directors Director : suryadi Independent Director : Drs. fatchurhuda2. Granted full authority and power to the board of Directors,

individually or jointly, to take all necessary actions in relation to the decisions taken and/or decided at the meeting, including but not limited to making or soliciting to make and to sign all deeds to declare the appointment of the Board of Directors in a Notary Deed, and to affirm and declare in the Deed of statement of the meeting Resolution made before notary if necessary, to notify the minister of justice and human Rights of the Republic of Indonesia, as well as other competent authorities, if any, in accordance with applicable laws and regulations.

members of The board of Commissioners and board of Directors Present During eGms

Board of CommissionersPresident Commissioner : sulistijowatiIndependent Commissioner : Vivekanand Atmaram Tolani @VikasIndependent Commissioner : jimmy Paulus WatulingasBoard of DirectorsPresident Director : loekito saggitarionoDirector : suryadiIndependent Director : Drs. fatchurhuda

Decision making mechanism in The eGmsDecision making in the eGms was conducted by means of deliberation to reach consensus. If there were no consensus, the decision will be made by voting. As for all the above decisions are taken by way of deliberation for consensus.



Realisasi dan Pelaksanaan hasil Keputusan RuPs luar biasaseluruh keputusan RuPs luar biasa telah dilaksanakan oleh Dewan Komisaris dan Direksi. Perseroan juga telah melaksanakan perubahan susunan pengurus.

Pelaksanaan RuPs Tahun 2016Pada tahun 2016, Perseroan menyelenggarakan 1 kali RuPs Tahunan dan tidak menyelenggarakan RuPs luar biasa. Perseroan melaksanaan RuPs Tahunan pada tanggal 27 juni 2016 di jakarta.

hasil RuPs Tahunan Tanggal 27 juni 20161. menyetujui dan mengesahkan laporan Tahunan Perseroan

untuk tahun buku yang berakhir pada tanggal 31 Desember 2015.

2. menyetujui penggunaan laba bersih Perseroan tahun buku 2015 sebagai berikut.1. sebesar Rp1.000.000.000,- dialokasikan dan dibukukan

sebagai dana cadangan;2. sebesar Rp15.972.642.756,- dimasukkan dan

dibukukan sebagai laba ditahan yang akan digunakan untuk menambah modal kerja Perseroan; dan

3. Tidak membagikan dividen tunai kepada para Pemegang saham Perseroan.


4. menyetujui dan mengesahkan laporan realisasi penggunaan dana hasil penawaran umum saham perdana Perseroan.



7. menyetujui untuk memberikan wewenang kepada Dewan Komisaris dan Komite Remunerasi Perseroan untuk menetapkan gaji atau honorarium dan tunjangan lainnya bagi anggota Dewan Komisaris Perseroan, serta untuk menetapkan gaji dan tunjangan lainnya bagi anggota Direksi Perseroan.

The Realization and Implementation of The eGms ResolutionAll decisions of the eGms have been executed by the board of Commissioners and the board of Directors. The Company has also implemented the changes in the management’s composition.

The Implementation of 2016 GmsIn 2016, the Company held 1 AGms and held no eGms. The Company conducted the Annual General meeting of shareholders on june 27th, 2017 in jakarta.

The Resolution of The AGms, june 27Th, 20161. Approved and ratified the Company’s Annual Report for the

fiscal year ended on December 31st, 2015.

2. Approved the planned utilization of the Company’s net profit for the 2015 fiscal year with the following details:1. Rp1,000,000,000 (one billion Rupiah) set aside as the

Company’s reserve fund;2. Rp15.972.642.756 (fifteen billion, nine hundred

and seventy two million, six hundred and forty two thousand, seven hundred and fifty six Rupiah) recorded as retained earnings, which will be used to supplement the Company’s working capital; and

3. Did not distribute cash dividends to the shareholders.

3. Approved the delegation of authority and full power to the board of Directors with the right of substitution to take whatever action is required regarding the abovementioned resolutions without exception.

4. Approved and ratified the report on the use of proceeds from the Company’s initial public offering;

5. Approved the delegation of authority and full power to the board of Directors with the right of substitution to take whatever action is required regarding the abovementioned resolution without exception.

6. Approved the delegation of authority to the board of Commissioners and the Remuneration Committee to determine the salary or honorarium and other benefits for members of the board of Commissioners as well as to determine the salary and other benefits for members of the board of Directors.

7. Approved the delegation of authority to the board of Directors to appoint Independent Public Accounting firm to audit the Company’s financial statements and books for the fiscal year ended on December 31st, 2016.



8. menyetujui pengangkatan Direktur Perseroan yang baru. 9. memberikan wewenang dan kuasa penuh dengan hak

substitusi kepada Direksi Perseroan, baik sendiri-sendiri maupun bersama-sama untuk melakukan segala tindakan yang diperlukan berkaitan dengan keputusan-keputusan sebagaimana diambil dan atau diputuskan dalam Rapat.

Anggota Dewan Komisaris dan Direksi yang hadir pada RuPsTahunan

Dewan KomisarisKomisaris utama : sulistijowatiKomisaris Independen : Vivekanand Atmaram Tolani

@VikasKomisaris Independen : jimmy Paulus WatulingasDireksiDirektur utama : loekito saggitarionoDirektur : suryadiDirektur Independen : Drs. fatchurhudaDirektur : Rate margareta

mekanisme Pengambilan Keputusan dalam RuPs Tahunanmekanisme pengambilan keputusan dalam RuPs Tahunan dilakukan dengan cara musyawarah untuk mufakat. Apabila musyawarah untuk mufakat tidak tercapai, maka dilakukan pemungutan suara. seluruh keputusan tersebut di atas diambil dengan cara musyawarah untuk mufakat.

Realisasi dan Pelaksanaan hasil Keputusan RuPsseluruh keputusan RuPs Tahunan telah dilaksanakan oleh Dewan Komisaris dan Direksi. Perseroan telah menggunakan laba bersih Perseroan sesuai peruntukannya, menetapkan gaji dan honorarium Dewan Komisaris dan Direksi, serta menetapkan kantor akuntan publik yang akan mengaudit laporan keuangan Perseroan untuk tahun buku 2016.

Dewan Komisarisboard of Commissioners

Dewan Komisaris adalah organ Perseroan yang bertugas untuk melakukan pengawasan secara umum dan/atau sesuai dengan Anggaran Dasar, memberi nasihat kepada Direksi dan memastikan bahwa Perseroan melaksanakan GCG dengan baik. Dewan Komisaris diangkat dan diberhentikan oleh RuPs. Pengangkatan Dewan Komisaris dilakukan dengan mempertimbangkan usulan anggota RuPs yang memiliki wewenang untuk mengusulkan Dewan Komisaris.

8. Approved the appointment of the new board of Directors.9. Approved the delegation of authority and full power to the

board of Directors with the right of substitution to take whatever action is required in respect of decisions taken and/or resolved in the meeting

members of The board of Commissioners and board of Directors Present During The AGms

Board of CommissionersPresident Commissioner : sulistijowatiIndependent Commissioner : Vivekanand Atmaram Tolani @VikasIndependent Commissioner : jimmy Paulus WatulingasBoard of DirectorsPresident Director : loekito saggitarionoDirector : suryadiIndependent Director : Drs. fatchurhudaDirector : Rate margareta

Decision making mechanism in The eGmsDecision making in the AGms was conducted by means of deliberation to reach consensus. If there were no consensus, the decision will be made by voting. As for all the above decisions are taken by way of deliberation for consensus.

The Realization and Implementation of The Gms ResolutionAll decisions of the Gms have been executed by the board of Commissioners and the board of Directors. The Company has used the Company’s net income in accordance with its allocation, determined the salary and honorarium of the board of Commissioners and the board of Directors, and appointed a public accounting firm that will audit the Company’s financial report for the 2016 fiscal year.

The board of Commissioners is the Company’s organ that is responsible for general supervision and/or in accordance with the Articles of Association, give advises to the board of Directors and ensures that the Company executes GCG. The board of Commissioners is appointed and dismissed by the Gms. The appointment of the board of Commissioners shall be conducted by considering the proposal of Gms members who have the authority to propose the board of Commissioners.



Dalam melaksanakan tugas dan tanggung jawabnya, Dewan Komisaris berpedoman pada Piagam Dewan Komisaris yang telah disusun dan disahkan oleh Dewan Komisaris. Piagam Dewan Komisaris menjadi panduan dan tata tertib kerja dalam menjalankan tugasnya.

Komposisi dan IndependensiPengangkatan dan pemberhentian anggota Dewan Komisaris dilakukan dengan mempertimbangkan elektabilitas calon anggota Dewan Komisaris dan kompleksitas Perseroan sehingga Dewan Komisaris dapat mengambil keputusan secara efektif. Komposisi Dewan Komisaris per tanggal 31 Desember 2017 sebagai berikut.

Nama name

Jabatan Position

Dasar Pengangkatan basis of Appointment

sulistijowati Komisaris UtamaPresident Commissioner

akta nomor 07 tanggal 2 Desember 2011 yang dikeluarkan oleh Kantor notaris suwarni sukiman, sHDeed No. 07 dated December 2, 2011 issued by the Office of Notary suwarni sukiman, sh

Vivekanand atmaram Tolani @VikasKomisaris independenIndependent Commissioner

akta nomor 126 tanggal 13 agustus 2012 yang dikeluarkan oleh Kantor notaris suwarni sukiman, sHDeed no. 126 dated August 13, 2012 issued by notary Public suwarni sukiman, sh

jimmy paulus WatulingasKomisaris independenIndependent Commissioner

akta nomor 175 tanggal 20 november 2015 yang dikeluarkan oleh Kantor notaris Hasbullah abdul rasyid, sH., M.KnDeed No. 175 dated November 20, 2015 issued by the Notary Office of hasbullah Abdul Rasyid, sh., m.Kn

seluruh anggota Dewan Komisaris tidak memiliki hubungan keuangan, kepengurusan, kepemilikan, dan hubungan keluarga dengan anggota Dewan Komisaris lainnya, anggota Direksi, Pemegang saham utama dan Pengendali, ataupun hubungan dengan Perseroan, yang dapat mempengaruhi kemampuannya untuk bertindak independen. seluruh anggota Dewan Komisaris juga tidak ada yang merangkap jabatan di perusahaan lain yang dapat menimbulkan benturan kepentingan bagi Perseroan.

Komisaris IndependenKomisaris Independen adalah anggota Dewan Komisaris yang memenuhi kriteria tentang tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya, anggota Direksi, serta Pemegang saham utama dan Pengendali, serta bebas dari hubungan bisnis dengan Perseroan, yang dapat mempengaruhi kemampuannya untuk bertindak independen. jumlah Komisaris Independen dalam perusahaan minimal 30% dari seluruh jumlah anggota Dewan Komisaris yang menjabat.

berdasarkan ketentuan tersebut, maka Perseroan telah mengangkat 2 orang Komisaris Independen dari total 3 orang Dewan Komisaris yang menjabat. Komisaris Independen Perseroan dijabat oleh Vivekanand Atmaram Tolani @Vikas dan jimmy Paulus Watulingas.

In performing its duties and responsibilities, the board of Commissioners shall be guided by the Charter of the board of Commissioners which has been drafted and approved by the board of Commissioners. The board of Commissioners’ Charter becomes the guideline and procedures in performing its duties.

Composition and IndependenceThe appointment and dismissal of members of the board of Commissioners shall be conducted by considering the electability of the candidates for the board of Commissioners and the Company’s business complexity which enables the board of Commissioners to make effective decisions. The composition of the board of Commissioners as of December 31st, 2017 is as follows.

All member of the board of Commissioners do not have any financial, management, ownership, or family relationship with other member of the board of Commissioners, member of the board of Directors, major and Controlling shareholders, or the Company that can affected their capability in acting independent. All members of the board of Commissioners also do not have any concurrent positions in other companies that may create a conflict of interest for the Company.

Independent CommissionerIndependent Commissioner is a member of the board of Commissioners who meet the criteria of not having affiliated relationships with other members of the Board of Commissioners, members of the board of Directors, and Principal shareholders and Controllers, and are free from any business relationship with the Company, which may affect their ability to act independently. The number of Independent Commissioners in the company shall be at least 30% of the total number of members of the Board of Commissioners in office.

based on these provisions, the Company has appointed 2 Independent Commissioners out of a total of 3 members of the Board of Commissioners in office. The Company’s Independent Commissioners are held by Vivekanand Atmaram Tolani @Vikas and jimmy Paulus Watulingas.



Tugas dan Tanggung jawabTugas dan tanggung jawab utama Dewan Komisaris sebagai berikut.1. Pelaksanaan tugas dan tanggung jawab Dewan Komisaris

dan Direksi;2. Kelengkapan dan pelaksanaan tugas komite-komite dan

satuan kerja yang menjalankan fungsi pengendalian internal perusahaan;

3. Penerapan fungsi kepatuhan dan manajemen risiko;

4. Rencana strategis Perseroan berdasarkan rencana kerja dan anggaran Perseroan;

5. Transparansi informasi, termasuk di antaranya kondisi keuangan Perseroan.

Pelaksanaan TugasPada tahun 2017, Dewan Komisaris telah melaksanakan tugas pengawasan dan pemberian nasihat terkait:1. melakukan pengawasan atas jalannya pengurusan

Perseroan oleh Direksi dan memberikan persetujuan atas rencana kerja tahunan Perseroan selambat-lambatnya sebelum dimulainya tahun buku yang akan datang;

2. melakukan tugas yang secara khusus diberikan kepadanya menurut Anggaran Dasar, peraturan perundang-undangan yang berlaku dan/atau berdasarkan keputusan RuPs;

3. melakukan tugas, wewenang dan tanggung jawab sesuai dengan ketentuan Anggaran Dasar Perseroan dan keputusan RuPs;

4. meneliti dan menelaah laporan tahunan yang dipersiapkan oleh Direksi, serta menandatangani laporan tahunan tersebut;

5. mematuhi Anggaran Dasar dan peraturan perundang-undangan, serta wajib melaksanakan prinsip-prinsip profesionalisme, efisiensi, transparansi, kemandirian, akuntabilitas, pertanggungjawaban, serta kewajaran.

Dewan Komisaris juga melaksanakan rapat sesuai kebijakan Perseroan, yaitu rapat internal Dewan Komisaris paling kurang 1 kali dalam 1 bulan dan rapat gabungan dengan Direksi paling kurang 1 kali dalam 3 bulan. berdasarkan kebijakan tersebut, sepanjang tahun 2017, Dewan Komisaris telah melaksanakan 16 kali rapat yang terdiri dari rapat internal sebanyak 12 kali dan rapat dengan Direksi sebanyak 4 kali dengan persentase kehadiran Dewan Komisaris sebagai berikut.

Duties and ResponsibilitiesThe main duties and responsibilities of the board of Commissioners are as follows.1. The implementation of the board of Commissioners’ and

board of Directors’ duties and responsibilities.2. The establishment of committees and work units as well as

the implementation of their internal control functions.

3. The implementation of compliance and risk management functions.

4. The preparation of the Company’s strategic plans based on Work Plan and budget (RKAP).

5. Information disclosure including the Company’s financial condition..

execution of DutiesIn 2017, the board of Commissioners has carried out its supervisory and advisory duties:1. supervised the Company’s management by the board of

Directors and giving approval of the Company’s annual work plan not later than the start of the forthcoming financial year;

2. Performed duties specifically granted to them according to the Articles of Association, the applicable laws and/or the resolution of the Gms.

3 Performed duties, authorities and responsibilities in accordance with the provisions of the Company’s Articles of Association and resolutions of the Gms;

4. examined and reviewed the Annual Report prepared by the board of Directors and signing the Annual Report.

5. Complied with Articles of Association and legislation, and implementing the principles of professionalism, efficiency, transparency, independence, accountability, responsibility, and fairness.

The board of Commissioners also must conducts meetings in accordance with the Company’s policy, namely the board of Commissioners internal meetings at least once in 1 month and joint meetings with the board of Directors at least once in 3 months. based on the policy, throughout 2017, the board of Commissioners has conducted 16 meetings consisting of 12 internal meetings and 4 meetings with the board of Directors with the following list and attendance level.



namaname

jabatanPosition

rapat internal Dewan Komisarisboard of Commissioners Internal meeting

rapat dengan Direksimeeting with the board of Directors

Jumlah Rapatnumber of

meeting

KehadiranAttendance %

Jumlah Rapatnumber of

meeting


sulistijowatiKomisaris UtamaPresident Commissioner

12 12 100.00 4 4 100.00

Vivekanand atmaram Tolani Vikas

Komisaris independenIndependentCommissioner

12 12 100.00 4 4 100.00

jimmy paulus Watulingas


12 12 100.00 4 4 100.00

Program Pengembangan Kompetensi untuk meningkatkan kompetensi dan menunjang pelaksanaan tugas dan tanggung jawabnya, Dewan Komisaris dapat mengikuti program pengembangan kompetensi yang dilaksanakan sesuai dengan kebutuhan. Pelaksanaan program pengembangan kompetensi bagi Dewan Komisaris di sepanjang tahun 2017 diuraikan sebagai berikut.

Nama PesertaParticipant name

JabatanPosition

Program Pengembangan Kompetensi

Competence Development Program

Tempat dan Periode Pelaksanaan

Venue and Time

Penyelenggaraorganizer

sulistijowatiKomisaris UtamaPresident Commissioner

Konferensi nasional profesional Manajemen risiko VRisk management Professional national Conference V

Yogyakarta, 22 – 24 november 2017

Lembaga Sertifikasi Profesi Manajemen risikoRisk management Profession Certification Institute

Vivekanand atmaram Tolani @Vikas


Konferensi nasional profesional Manajemen risiko VRisk management Professional national Conference V


Lembaga Sertifikasi Profesi Manajemen risiko Risk management Profession Certification Institute

jimmy paulus WatulingasKomisaris independenIndependentCommissioner

Konferensi nasional profesional Manajemen risiko V Risk management Professional national Conference V


Lembaga Sertifikasi Profesi Manajemen risiko Risk management Profession Certification Institute

Competence Development Program To improve the competence and support the implementation of its duties and responsibilities, the board of Commissioners can participate in the competency development program according to their needs. The implementation of the competency development program for the board of Commissioners throughout 2017 is described as follows.



Direksiboard of Directors

Direksi merupakan organ Perseroan yang bertugas dan bertanggung jawab penuh atas pengelolaan Perseroan dengan merujuk pada ketentuan Anggaran Dasar Perseroan, peraturan perundang-undangan, dan Pedoman Direksi Perseroan. Pengelolaan Perseroan tersebut dilakukan sesuai visi dan misi, rencana kerja dan strategi, serta amanat para Pemegang saham Perseroan, dengan memperhatikan harapan pemangku kepentingan.

Dalam melaksanakan tugas dan tanggung jawabnya, Direksi berpedoman pada Piagam Direksi yang telah disusun dan disahkan oleh Direksi. Piagam Direksi menjadi panduan dan tata tertib kerja dalam menjalankan tugasnya.

Komposisi dan Independensi

jumlah anggota Direksi disesuaikan dengan kompleksitas Perseroan dengan tetap memperhatikan efektifitas dan efisensi dalam pengambilan keputusan. Komposisi Direksi pada tahun 2017 sebagai berikut.

Nama name

Jabatan Position

Periode Period

Dasar Pengangkatan basis of Appointment

loekito saggitariono Direktur UtamaPresident Director

2013 – oktober 2017 2013 – october 2017

akta nomor 181 tanggal 30 januari 2013 yang dikeluar-kan oleh Kantor notaris suwarni sukiman, sHDeed no. 181 dated january 30, 2013 issued by notary suwarni sukiman, sh

suryadi Direktur Director

2013 – saat ini 2013 – present

akta nomor 47 tanggal 27 Desember 2013 yang dikeluar-kan oleh Kantor notaris sri Hidianingsih adi sugijanto, sHDeed no. 47 dated December 27, 2013 issued by notary sri hidianingsih Adi sugijanto, sh

Drs. Fatchurhuda Direktur independenIndependent Director

2013 – saat ini 2013 – present

akta nomor 41 tanggal 11 juni 2015 yang dikeluarkan oleh Kantor notaris Fathiah Helmi, sHDeed no. 41 dated june 11, 2015 issued by the notary Office of Fathiah Helmi, SH

rate Margareta Direktur Director

2016 – Desember 2017 2016 – December 2017

akta nomor 187 tanggal 27 juni 2016 yang dikeluarkan oleh Kantor notaris Hasbullah abdul rasyid, sH., M.KnDeed no. 187 dated june 27, 2016 issued by the notary Office of Hasbullah Abdul Rasyid, SH., M.Kn

seluruh anggota Direksi tidak memiliki hubungan keuangan, kepengurusan, kepemilikan saham dan hubungan keluarga dengan anggota Dewan Komisaris, anggota Direksi lainnya, dan/atau Pemegang saham utama dan Pengendali, ataupun hubungan dengan Perseroan, yang dapat mempengaruhi kemampuannya untuk bertindak independen. seluruh anggota Direksi juga tidak ada yang merangkap jabatan di perusahaan lain yang dapat menimbulkan benturan kepentingan bagi Perseroan.

The board of Directors is the Company’s organ which is fully responsible for the Company’s management of by referring to the Company’s Articles of Association, statutory regulations, and the board of Directors guidelines. The Company’s management is conducted in accordance with its vision and mission, work plan and strategy, and the mandate of the Company’s shareholders, taking into account the expectations of the stakeholders.

In executing its duties and responsibilities, the board of Directors shall be guided by the board of Directors’ Charter which has been prepared and approved by the board of Directors. The board of Directors’ Charter shall be guidance and work order in carrying out its duties.

Composition and Indepencende

The number of members of the board of Directors shall be adjusted to the Company’s complexity with due regard to the effectiveness and efficiency in decision making. The composition of the board of Directors in 2017 is as follows.

All member of the Board of Directors do not have any financial, management, ownership, or family relationship with other member of the board of Commissioners, member of the board of Directors, major and Controlling shareholders, or the Company that can affected their capability in acting independent. All members of the board of Directors also do not have any concurrent positions in other companies that may create a conflict of interest for the Company.



Tugas dan Tanggung jawabDireksi mempertanggungjawabkan pelaksanaan tugasnya secara kolegial. namun demikian, Direksi melakukan pembagian tugas dan tanggung jawab untuk mengefisienkan perannya dalam mengelola perusahaan. sesuai dengan Piagam Direksi, tugas dan tanggung jawab Direksi dibedakan untuk masing-masing Direktur utama, Direktur Keuangan, Direktur Teknik, dan Direktur Pemasaran yang dijelaskan sebagai berikut.

Namaname

Bidang TugasDuties

Periode Period

Tugas dan Tanggung JawabDuties and Responsibilities

loekito saggitariono Direktur UtamaPresident Director

2013 – oktober 20172013 – october 2017

1. Memimpin dan mengawasi Direksi dan Komite eksekutif perseroan;

2. Menyusun dan melaksanakan strategi jangka panjang perseroan bersama seluruh Direksi dan Komite;

3. Memastikan perseroan menerapkan peraturan otoritas jasa Keuangan secara konsisten;

4. Menjaga agar tata kelola perusahaan senantiasa dilaksanakan di dalam perseroan;

5. Memimpin rapat Umum pemegang saham.

1. lead and oversee the Company’s board of Directors and executive Committee;

2. Develop and implement The Company’s long-term strategies together with the board of Directors and the Committees;

3. ensure that the Company consistently implements the financial services Authority regulations;

4. maintain consistent implementation of good corporate governance within the Company;

5. Chair the General meeting of shareholders.


2013 – saat ini2013 - present

1. Bertanggung jawab atas seluruh kegiatan, kinerja, dan prosedur-prosedur yang digunakan;

2. Bertanggung jawab atas seluruh kegiatan, kinerja, dan prosedur-prosedur akuntansi, keuangan, investasi dan urusan umum yang berhubungan dengan sistem dan mekanisme perusahaan pada umumnya;

3. Bertanggung jawab atas pengembangan sistem dan manajemen akuntansi, keuangan, investasi dan urusan umum.

1. Responsible for the implementation of all activities, performance, and procedures;

2. Responsible for all accounting, finance, investment and public affairs activities, performance, and procedures relating to the Company’s systems and mechanisms in general;

3. Responsible for the development of accounting, finance, investment and public affairs systems and management.

Drs. Fatchurhuda Direktur independenIndependent Director

2013 – saat ini2013 - present

1. Menjalankan dan memenuhi ketentuan anggaran Dasar perseroan;

2. Memahami dan melaksanakan tata kelola perusahaan;3. Mengatur dan membawahi fungsi teknik;4. Merencanakan, melaksanakan, dan mengadakan evaluasi atas

kapasitas otomatis perseroan.

1. Implement and fulfill the provisions of the Articles of Association;

2. Comprehend and implement good corporate governance;3. manage and oversee the technical function;4. Plan, implement, and evaluate the Company’ automatic

capacity.


2016 – Desember 20172016 – December 2017

1. Mengatur dan membawahi fungsi pemasaran;2. Menyusun, mengembangkan dan mengimplementasikan

rencana pemasaran untuk memasarkan produk baru dan produk yang sudah berjalan

3. Mengembangkan rencana jangka pendek dan jangka panjang sesuai dengan tujuan perseroan.

1. Regulate and oversee the marketing function;2. Prepare, develop, and implement marketing plans for new and

existing products;3. Develop short-term and long-term plans in accordance with the

Company’s objectives.

Duties and ResponsibilitiesThe board of Directors shall be responsible for the execution of its duties in a collegial manner. nevertheless, the board of Directors performs the distribution of duties and responsibilities to streamline its role in managing the company. In accordance with the board Directors’ Charter, the duties and responsibilities of the board of Directors are differentiated for each of the President Director, finance Director, Technical Director, and marketing Director as described below.



Pelaksanaan Tugas

Pelaksanaan tugas Direksi di sepanjang tahun 2017 diuraikan sebagai berikut.1. memimpin, mengurus dan mengendalikan Perseroan

sesuai dengan tujuan Perseroan dan senantiasa berusaha meningkatkan efisiensi dan efektivitas Perseroan;

2. menguasai, memelihara dan mengurus kekayaan Perseroan;3. menyusun rencana kerja tahunan yang memuat anggaran

tahunan Perseroan dan wajib disampaikan kepada Dewan Komisaris untuk memperoleh Persetujuan dari Dewan Komisaris sebelum dimulainya tahun buku yang akan datang.

Direksi juga melaksanakan rapat sesuai kebijakan Perseroan, yaitu rapat internal Direksi paling kurang 1 kali dalam 1 bulan dan rapat gabungan dengan Dewan Komisaris paling kurang 1 kali dalam 3 bulan. berdasarkan kebijakan tersebut, sepanjang tahun 2017, Direksi telah melaksanakan 16 kali rapat yang terdiri dari rapat internal sebanyak 12 kali dan rapat dengan Dewan Komisaris sebanyak 4 kali dengan persentase kehadiran Direksi sebagai berikut.

Nama Name

Jabatan Position

Periode Perw

Rapat Internal Internal Meeting

Rapat dengan Dewan KomisarisMeetings with Board of Commissioners

Jumlah Rapat

Number of Meeting

Kehadiran Attendance %

Jumlah Rapat

Number of Meeting


loekito saggitariono

Direktur Utamapresident Director

2013 – oktober 20172013 – october 2017 12 10 83.33 4 3 75.00


2013 – saat ini2013 – present 12 12 100.00 4 4 100.00

Drs. Fatchurhuda Direktur

independenIndependent Director

2013 – saat ini2013 – present 12 12 100.00 4 4 100.00

rate Margareta

Direktur Director

2016 – Desember 20172016 – December 2017 12 10 83.33 4 3 75.00

Program Pengembangan Kompetensi untuk meningkatkan kompetensi dan menunjang pelaksanaan tugas dan tanggung jawabnya, Direksi dapat mengikuti program pengembangan kompetensi yang dilaksanakan sesuai dengan kebutuhan. Pelaksanaan program pengembangan kompetensi bagi Direksi di sepanjang tahun 2017 diuraikan sebagai berikut.

The execution of The board of Directors’ Duty

In 2017, the board of Directors has performed the following duties and responsibilities:1. lead, managed and controlled the Company in accordance

with the Company’s objectives and continue strived to improve the Company’s efficiency and effectiveness;

2. Controlled, maintained and managed the Company’s assets;3. Prepared an annual work plan containing the Company’s

annual budget and submitted the work plan to the board of Commissioners for approval prior to the commencement of the forthcoming financial year.

The board of Directors also must conducts meetings in accordance with the Company’s policy, namely the board of Commissioners internal meetings at least once in 1 month and joint meetings with the board of Commissioners at least once in 3 months. based on the policy, throughout 2017, the board of Directors has conducted 16 meetings consisting of 12 internal meetings and 4 meetings with the board of Commissioners with the following list and attendance level.

Competence Development Program To improve the competence and support the implementation of its duties and responsibilities, the board of Directors can participate in the competency development program according to their needs. The implementation of the competency development program for the board of Directors throughout 2017 is described as follows.



Nama Peserta Participant Name

Periode Period

Program Pengembangan Kompetensi Competence Development Program


Venue and Time

Penyelenggara Organizer

loekito saggitariono 2013 – oktober 2017 2013 – october 2017

Overseas seminar Insurance School (Non-life) of Japan

jakarta, 27 september 2017 jakarta, september 27th, 2017

asosiasi asuransi Umum indonesia Indonesian General Insurance Association

seminar peran aktuaris di asuransi Umum dan Ketentuan pemenuhan Kewajiban Memiliki aktuaris bagi perusahaan asuransi Umum dan reasuransi seminar on the Role of Actuaries in General Insurance and Requirement to Fulfill the obligation to have an Actuary for General Insurance and Reinsurance Companies

jakarta, 2 oktober 2017 jakarta, october 2nd, 2017

asosiasi asuransi Umum indonesia Indonesian General Insurance Association

suryadi 2013 – saat init 2013 – present

penerapan sistem pernyataan pendaftaran atau aksi Korporasi secara elektronik (e-registration) The Implementation of electronic Registration statement system or electronic Corporate Action (e-Registration)

jakarta, 21 juli 2017jakarta, july 12th, 2017

otoritas jasa KeuanganThe financial services Authority

seminar pasar Modal Bersama robert p. Miles Capital market seminar with Robert P. miles

jakarta, 12 agustus 2017jakarta, August 12th, 2017

Bursa efek jakartajakarta stock exchange

Overseas Seminar Insurance School (Non-life) of Japan

jakarta, 27 september 2017jakarta, september 27th, 2017

asosiasi asuransi Umum indonesiaThe General Insurance Association of Indonesia

Financial Modelling and Bussiness Inteligence for Corporate Budgeting

jakarta, 26 oktober 2017jakarta, october 26th, 2017

Deloitte

Sosialisasi Roadmap Otoritas Jasa Keuangan dan Implementasi Sistem PSAK 71Promotion of the Roadmap of the financial services Authority and the Implementation of the PsAK 71 system

jakarta, 16 november 2017 jakarta, november 16th, 2017

Risk Management Guard

Konferensi nasional profesional Manajemen risiko Vnational Risk management Professional Conference V

Yogyakarta, 22-24 november 2017Yogyakarta, november 22-24, 2017

Lembaga Sertifikasi profesi Manajemen risikoRisk management Profession Certification Institution

Facing the Challenge of 2018, Reinsurance Perspective

Vietnam, 3-6 Desember 2017Vietnam, Desember 3-6, 2017

Maskapai reasuransi indonesia

Drs. Fatchurhuda 2013 – saat ini 2013 – present

Sharing Session Market Update Terkait Kondisi Ekonomi Indonesia dan Analisa Data dan Proyeksi Industri Asuransi Umum dan Reasuransi Pada Semester 1 dan Semester 2 Tahun 2017 sharing session market update Related to Indonesia economic Condition and Data Analysis and Industrial Projection of General Insurance and Reinsurance in 1st and 2nd semester of 2017



Konferensi nasional profesional Manajemen risiko Vnational Risk management Professional Conference V

Yogyakarta, november 22-24, 2017Yogyakarta, november 22-24, 2017

Lembaga Sertifikasi profesi Manajemen risikoRisk management Profession Certification Institution




Periode Period

Program Pengembangan Kompetensi Competence Development Program


Venue and Time

Penyelenggara Organizer

rate Margareta 2016 – Desember 2017 2016 – December 2017

sharing session Market Update Terkait Kondisi ekonomi indonesia dan analisa Data dan proyeksi industri asuransi Umum dan reasuransi pada semester 1 dan semester 2 Tahun 2017 sharing session market update Related to Indonesia economic Condition and Data Analysis and Industrial Projection of General Insurance and Reinsurance in 1st and 2nd semester of 2017



Hubungan Afiliasi Dewan Komisaris dan DireksiAffiliated Relationship of The Board of Commissioners and Board of Directors

Guna menjamin efektivitas pelaksanaan tugas dan tanggung jawab Dewan Komisaris dan Direksi, Perseroan menjaga hubungan afiliasi antara Dewan Komisaris, Direksi, dan Pemegang Saham Utama dan Pengendali. Hubungan afiliasi Dewan Komisaris dan Direksi ditunjukkan sebagai berikut.

Nama Name

Jabatan Position

Hubungan Afiliasi Dengan Affiliated Relationship with

Dewan Komisaris Board of Commissioners

Direksi Board of Directors

Pemegang Saham Shareholders

Dewan Komisaris | board of Commissioners

sulistijowati Komisaris Utama President Commissioner

x x x


Komisaris independen Independent Commissioner

x x x

jimmy paulus Watulingas

Komisaris independen Independent Commissioner

x x x

Direksi | board of Directors

loekito saggitariono Direktur Utama President Director

x x x


x x x

Drs. Fatchurhuda Direktur independen Independent Director

x x x


x x x

In order to ensure the effectiveness of the implementation of the duties and responsibilities of the board of Commissioners and the Board of Directors, the Company maintains an affiliation relationship between the board of Commissioners, the board of Directors, and the Principal shareholders and Controllers. The affiliation relationship between the Board of Commissioners and the board of Directors is shown below.



The performance appraisal of the board of Commissioners and the board of Directors shall be conducted periodically, at least annually, by the shareholders in the Gms. The criteria used in the evaluation are performance achievement and execution of duties of board of Commissioners and board of Directors. based on the performance appraisal of the members of the board of Commissioners and the board of Directors, the Gms will provide remuneration recommendations related to the reappointment or termination of the members of the board of Commissioners and the board of Directors concerned.

meanwhile, the performance appraisal of the Committee under the board of Commissioners is conducted by the board of Commissioners. The Committee’s performance appraisal takes into account the implementation of the Committee’s tasks as well as the quality of the recommendations and recommendations provided.

Penilaian Kinerja Dewan Komisaris, Direksi, dan KomiteThe Assessment of The board of Commisioners, board of Directors and Committees Performance

Penilaian kinerja Dewan Komisaris dan Direksi dilakukan secara berkala, minimal setahun sekali, oleh Pemegang saham dalam RuPs. Kriteria yang digunakan dalam evaluasi adalah pencapaian kinerja dan pelaksanaan tugas Dewan Komisaris dan Direksi. berdasarkan hasil penilaian kinerja anggota Dewan Komisaris dan Direksi tersebut, RuPs akan memberikan rekomendasi remunerasi terkait pengangkatan kembali ataupun pemberhentian anggota Dewan Komisaris dan Direksi yang bersangkutan.

sedangkan, penilaian kinerja Komite di bawah Dewan Komisaris dilakukan oleh Dewan Komisaris. Penilaian kinerja Komite memperhatikan faktor-faktor pelaksanaan tugas Komite serta kualitas saran dan rekomendasi yang diberikan.

Remunerasi Dewan Komisaris dan DireksiRemuneration of The board of Commissioners and board of Directors

sesuai dengan ketentuan Anggaran Dasar Perseroan dan peraturan perundang-undangan yang berlaku, RuPs akan menetapkan besarnya remunerasi Dewan Komisaris dan Direksi dengan mempertimbangkan hasil penilaian kinerja masing-masing organ tersebut. RuPs juga dapat melimpahkan wewenang tersebut kepada Dewan Komisaris dengan mempertimbangkan pelaksanaan fungsi nominasi dan remunerasi yang melekat pada Dewan Komisaris.

berdasarkan ketentuan tersebut, RuPs Tahunan yang diselenggarakan pada tahun 2017 telah memberikan kewenangan kepada Dewan Komisaris untuk menentukan besaran remunerasi yang diterima Dewan Komisaris dan Direksi. untuk tahun 2017, Dewan Komisaris menerima remunerasi sebesar Rp585.000.000,- dan Direksi menerima remunerasi sebesar Rp1.929.864.600,-.

Komite di bawah Dewan KomisarisCommittee under The board of Commissioners

sesuai ketentuan regulasi Dewan Komisaris dalam menjalankan perannya adalah membentuk Komite yang berfungsi untuk membantu pelaksanaan tugas Dewan Komisaris. Pembentukan Komite, termasuk jumlah dan komposisi keanggotaan Komite,

In accordance with the provisions of the Company’s Articles of Association and the prevailing laws and regulations, the Gms shall determine the amount of remuneration of the board of Commissioners and board of Directors by considering the performance appraisal results of each of those organs. The Gms may also transfer such authority to the board of Commissioners by considering the execution of the nomination and remuneration functions attached to the board of Commissioners.

under the aforementioned provision, the AGms held in 2017 has given the authorization to the board of Commissioners to determine the amount of remuneration received by the board of Commissioners and the board of Directors. for 2017, the board of Commissioners received remuneration amounting to Rp585,000,000,- and the board of Directors received remuneration amounting to Rp1,929,864,600,-.

According to the board of Commissioners’ regulation in carrying out its role is to establish Committees to assist the implementation of the duties of the board of Commissioners. The establishment of the Committees, including the number and



dapat disesuaikan dengan kebutuhan dan kompleksitas usaha Perseroan. berdasarkan hal tersebut, Dewan Komisaris telah membentuk Komite Audit, Komite nominasi dan Remunerasi, serta Komite Pemantau Risiko yang diuraikan sebagai berikut.

Komite AuditKomite Audit dibentuk untuk membantu pelaksanaan tugas dan fungsi Dewan Komisaris dengan memberikan pendapat profesional dan independen terkait laporan dan informasi keuangan yang disampaikan oleh Direksi kepada Dewan Komisaris dan pemangku kepentingan lainnya, memantau efektifitas sistem pengendalian internal Perseroan, serta mengidentifikasi hal-hal yang memerlukan perhatian Dewan komisaris.

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Audit berpedoman pada Piagam Komite Audit yang telah disahkan Dewan Komisaris pada tanggal 1 juni 2015. Piagam Komite Audit menjadi pedoman dan tata tertib kerja pelaksanaan tugas Komite Audit.


Anggota Komite Audit diangkat berdasarkan surat Keputusan Dewan Komisaris di luar Rapat Dewan Komisaris PT Victoria Insurance Tbk no. 013-1/VIn-In/DIR/VI/2015 tanggal 1 juni 2015 yang dimutakhirkan berdasarkan surat Keputusan Dewan Komisaris di luar Rapat Dewan Komisaris PT Victoria Insurance Tbk no. 090-1/VIn-In/DIR/IX/2017 tanggal 5 september 2017 dengan masa jabatan sampai dengan ditutupnya Rapat umum Pemegang saham Tahunan Perseroan untuk tahun buku 2018 yang akan diadakan pada tahun 2019, ataupun pada saat Ketua Komite Audit tidak lagi menjabat sebagai Komisaris Independen Perseroan. susunan Komite Audit Perseroan pada tahun 2017 sebagai berikut.

Nama name

Jabatan Position

Vivekanand atmaram Tolani @Vikas Ketua | Chairman

Henry Djaja Karim anggota | member

susanti anggota | member

Perseroan menjamin bahwa seluruh anggota Komite Audit merupakan pihak independen yang tidak mempunyai benturan kepentingan dengan pihak lain dalam organ perusahaan. Anggota Komite Audit tidak memiliki hubungan keuangan, kepengurusan, kepemilikan saham, dan/atau keluarga dengan anggota Dewan Komisaris, Direksi dan/atau Pemegang saham utama dan Pengendali. Anggota Komite Audit merupakan para profesional yang dipilih sesuai kompetensinya.

composition of the Committee’s membership, may be adapted to the needs and complexities of the Company’s business. based on this, the board of Commissioners has established Audit Committee, nomination and Remuneration Committee, and Risk monitoring Committee as described below.

Audit CommitteeThe Audit Committee is established to assist the implementation of the duties and functions of the board of Commissioners by providing a professional and independent opinion relating to the financial statements and information submitted by the Board of Directors to the board of Commissioners and other stakeholders, monitoring the effectiveness of the Company’s internal control system, and identifying issues requiring attention from the board of Commissioners.

In performing its duties and responsibilities, the Audit Committee is guided by the Charter of Audit Committee approved by the board of Commissioners on june 1st, 2015. The Charter of the Audit Committee becomes the guideline and work rule of the exeuction of the Audit Committee’s duties.

Composition and Independence

members of the Audit Committee are appointed based on the Decree of the board of Commissioners outside of the board of Commissioners meeting of PT Victoria Insurance Tbk no. 013-1/VIn-In/DIR/VI/2015 dated june 1, 2015 which was updated based on the Decree of the board of Commissioners outside of the board of Commissioners meeting of PT Victoria Insurance Tbk no. 090-1/VIn-In/DIR/IX/2017 dated september 5, 2017 with the term of office until the closing of the Annual General Meeting of Shareholders of the Company for the fiscal year 2018 to be held in 2019, or when the Chairman of the Audit Committee no longer serves as an Independent Commissioner of the Company. The composition of the Audit Committee of the Company in 2017 is as follows.

The Company guarantees that all members of the Audit Committee are independent parties who have no conflict of interest with any other party in the company’s organs. members of the Audit Committee have no financial, management, share ownership and/or family relationships with members of the board of Commissioners, the board of Directors and/or the major and Controlling shareholders. members of the Audit Committee are professionals selected according to their competence.



Profil Komite Audit

KetuaVivekanand Atmaram Tolani @VikasProfil lengkap dapat dilihat pada bagian profil Dewan Komisaris.

AnggotaHenry Djaja KarimWarga negara Indonesia, usia 58 tahun, berdomisili di jakarta. memperoleh gelar sarjana ekonomi dari universitas jayabaya, jakarta pada tahun 1985. beliau tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris, anggota Direksi, serta Pemegang saham utama dan Pengendali.

beliau memiliki pengalaman sebagai sebagai anggota Komite Audit di perusahaan Asuransi dan Reasuransi nasional (sejak 2010). sub branch manager di PT bank Yudha bakti (2001-2002), sub branch manager di PT bank Rama Tbk (1997-2000), sub branch manager and fund & services di PT bank Danahutama (1990-1996), staff finance Departemen di PT maskapai Reasuransi Indonesia (1986-1990), dan Technical staff di PT Asuransi umum Wuwungan (1983-1986).

AnggotaSusantiWarga negara Indonesia, usia 37 tahun, berdomisili di jakarta. memperoleh gelar sarjana ekonomi bidang Akuntansi dari universitas Gunadarma, Depok pada tahun 2002. beliau tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris, anggota Direksi, serta Pemegang saham utama dan Pengendali.

saat ini, beliau juga menjabat sebagai Internal Audit Staff di PT magna finance Tbk (sejak 2012). beliau memiliki pengalaman sebagai Senior Accounting di PT magna finance (2006-2012) , dan Senior Accounting di PT Quarta Anugrah Perdana tahun (2003-2006).

Tugas dan Tanggung jawabKomite Audit memiliki tugas:1. melakukan penelaahan atas informasi keuangan yang akan

dikeluarkan Perseroan kepada publik dan/atau pihak otoritas, antara lain laporan keuangan, proyeksi, dan laporan lainnya terkait dengan informasi keuangan Perseroan;

2. melakukan penelaahan atas ketaatan terhadap peraturan perundang-undangan yang berhubungan dengan kegiatan Perseroan;

3. memberikan pendapat independen dalam hal terjadi perbedaan pendapat antara manajemen dan akuntan publik yang ditunjuk Perseroan atas jasa yang diberikannya;

4. memberikan rekomendasi kepada Dewan Komisaris mengenai penunjukan akuntan publik yang didasarkan pada independensi, ruang lingkup penugasan, dan fee;

5. melakukan penelaahan atas pelaksanaan pemeriksaan oleh unit Audit Internal dan mengawasi pelaksanaan tindak lanjut oleh Direksi atas temuan unit Audit Internal yang dimaksud;

The Audit Committee Profile

ChairmanVivekanand Atmaram Tolani @VikasDetailed profile is available under the profile section of the board of Commissioners.

MemberHenry Djaja KarimIndonesian citizen, age 58 years, domiciled in jakarta. he obtained his bachelor of economics from jayabaya university, Jakarta in 1985. He has no affiliation relationship with members of the board of Commissioners, members of the board of Directors, and Principal shareholders and Controllers.

he has experience as member of Audit Committee Asuransi dan Reasuransi nasional (since 2010), sub branch manager at PT bank Yudha bakti (2001-2002), sub branch manager at PT bank Rama Tbk (1997-2000), sub branch manager and fund & services at PT bank Danahutama (1990-1996), finance Department staff at PT maskapai Reasuransi Indonesia (1986-1990), and a Technical staff at PT Asuransi umum Wuwungan (1983-1986).

MemberSusanti

Indonesian citizen, age 37 years, domiciled in jakarta. she obtained her bachelor of economics degree in Accounting from Gunadarma University, Depok in 2002. She has no affiliation relationship with members of the board of Commissioners, members of the board of Directors, and Principal shareholders and Controllers.

Currently, she also serves as Internal Audit staff at PT magna finance Tbk (since 2012). she has experience as senior Accounting at PT magna finance (2006-2012), and senior Accounting at PT Quarta Anugrah Perdana (2003-2006).

Duties and ResponsibilitiesThe Audit Committee has the following tasks:1. Review the financial information that will be issued by the

Company to the public and/or the authorities, among others, financial statements, projections, and other statements relating to the Company’s financial information;

2. Review the Company’s adherence to laws and regulations in relation to its activities;

3. Provide independent opinion in the event of disagreement between the management and the appointed Public Accounting firm for services rendered;

4. Provide recommendations to the board of Commissioners regarding Public Accounting firm based on independence, scope of work, and fees;

5. Review the audit implementation by the Internal Audit unit of the Company, and oversee the implementation of the follow-up by the Board of Directors on the findings of the Internal Audit unit;



6. melakukan penelaahan terhadap aktivitas pelaksanaan manajemen risiko yang dilakukan oleh Direksi;

7. menelaah pengaduan yang berkaitan dengan proses akuntansi dan pelaporan keuangan Perseroan;

8. menelaah dan memberikan saran kepada Dewan Komisaris terkait dengan adanya potensi benturan kepentingan Perseroan; dan

9. menjaga kerahasiaan dokumen, data dan informasi Perusahaan.

Pelaksanaan Tugassepanjang tahun 2017, Komite Audit telah melaksanakan tugas:

1. menelaah dan mencermati informasi keuangan Perseroan, seperti laporan keuangan triwulanan, proyeksi keuangan, rencana tindakan korporasi, serta perjanjian dengan pihak ketiga;

2. mengevaluasi ketaatan Perseroan terhadap semua peraturan perundang-undangan yang berlaku di semua aktivitas operasi Perseroan;

3. mengevaluasi pelaksanaan audit oleh auditor internal dan eksternal, termasuk memeriksa independensi dan obyektivitasnya, serta mengkaji kecukupan pemeriksaan yang dilakukan;

4. mengkomunikasikan kepada manajemen mengenai hasil pembahasan dengan auditor eksternal; dan

5. mengkaji hal-hal yang memerlukan persetujuan atau rekomendasi Dewan Komisaris.

Komite Audit juga mengadakan rapat sesuai kebijakan Perseroan, yaitu 12 kali dalam setahun. Pelaksanaan rapat Komite Audit sepanjang tahun 2017 sebagai berikut.

Namaname

JabatanPosition

Jumlah Rapat number of meetings

Kehadiran Attendance

Persentase Kehadiran

Percentage of Attendance

Vivekanand atmaram Tolani @Vikas Ketua / Chairman 12 12 100.00

Henry Djaja Karim anggota / member 12 4 33.33

susanti anggota / member 12 12 100.00

Pengembangan KompetensiKomite Audit mengikuti program pengembangan kompetensi untuk meningkatkan kompetensi dan menunjang pelaksanaan tugas. Pengembangan kompetensi yang dilakukan Komite Audit di tahun 2017 sebagai berikut.

6. Review the implementation of risk management activities undertaken by the board of Directors, if the Company does not possess a risk monitoring function under the board of Commissioners;

7. Examine complaints related to accounting and financial reporting processes in the Company;

8. Review and provide advice to the board of Commissioners in relation to the Company’s potential conflict of interest; and maintain confidentiality of documents, data and corporate information.

9. Maintain confidentiality of documents, data and company information.

Duties ImplementationThroughout 2017, the Audit Committee has performed the following tasks:1. Studying and examining the Company’s financial

information, such as quarterly financial reports, financial projections, the plan of corporate actions, as well as agreements with third parties;

2. evaluating the Company’s compliance with all laws and regulations prevailing in all of its operations;

3. evaluating the implementation of audits by internal and external auditors, including examining its independence and objectivity, and assessing the adequacy of the inspections;

4. Communicating to management about the results of discussions with external auditors; and

5. Reviewing things that require approval or recommendation from the board of Commissioners.

The Audit Committee also held meetings according to the Company’s policy, which is 12 times a year. The execution of Audit Committee meetings throughout 2017 as follows.

Competence DevelopmentThe Audit Committee participated in a competency development program to improve competence and support the implementation of tasks. Competency development conducted by the Audit Committee in 2017 as follows.



Nama Peserta Participant name

Jabatan Position

Program Pengembangan Kompetensi

Competency Development Program


Venue and Time

Penyelenggara organizer


Ketua / Chairman Konferensi nasional profesional Manajemen risiko V national Risk management Professional Conference V

Yogyakarta, 22-24 november 2017

Lembaga Sertifikasi Profesi Manajemen risiko Risk management Profession Certification Institution

Henry Djaja Karim anggota / member Konferensi nasional profesional Manajemen risiko V national Risk management Professional Conference V

Yogyakarta, 22-24 november 2017Yogyakarta, november 22-24, 2017

Lembaga Sertifikasi Profesi Manajemen risikoRisk management Profession Certification Institution

susanti anggota / member - - -

Komite nominasi dan Remunerasi Komite nominasi dan Remunerasi adalah Komite pendukung Dewan Komisaris yang menjalankan fungsi pengawasan dan memastikan pelaksanaan proses pencalonan posisi strategis dalam manajemen serta proses penetapan besaran remunerasi berlangsung secara objektif, efektif dan efisien. Komite Nominasi dan Remunerasi memberikan pendapat dan rekomendasi profesional kepada Dewan Komisaris terkait penentuan besaran gaji/honorarium, bonus dan tunjangan bagi Dewan Komisaris, Direksi, serta karyawan Perseroan, termasuk struktur, syarat, dan pelaksanaan atas insentif jangka panjang bagi Direksi.

Dalam melaksanakan tugas dan tanggung jawabnya, Komite nominasi dan Remunerasi berpedoman pada Piagam Komite nominasi dan Remunerasi yang telah disusun dan disahkan oleh Dewan Komisaris tanggal 1 juli 2015. Piagam tersebut menjadi panduan dan tata tertib kerja dalam pelaksanaan tugas Komite nominasi dan Remunerasi.

Komposisi dan IndependensiAnggota Komite nominasi dan Remunerasi diangkat berdasarkan surat Keputusan Dewan Komisaris di luar Rapat Dewan Komisaris PT Victoria Insurance Tbk no. 027-1/VIn-In/DIR/VI/2015 tanggal 1 juli 2015 dengan masa jabatan sejak tanggal 1 juli 2015 sampai dengan ditutupnya Rapat umum Pemegang saham Tahunan Perseroan untuk tahun buku 2017 yang diadakan pada tahun 2018, ataupun pada saat Ketua Komite nominasi dan Remunerasi tidak lagi menjabat sebagai Komisaris Independen Perseroan. susunan anggota Komite nominasi dan Remunerasi sebagai berikut.

Nama / name Jabatan / Position

Vivekanand atmaram Tolani @Vikas Ketua / Chairman

sulistijowati anggota / member

loekito saggitariono anggota / member

nomination and Remuneration CommitteeThe nomination and Remuneration Committee is a board of Commissioners supporting committee that carries out supervisory functions and ensures the implementation of the process of nominating strategic positions in management and the process of determining remuneration amounts in an objective, effective, and efficient manner. The Nomination and Remuneration Committee provides professional opinion and recommendation to the board of Commissioners regarding the determination of salaries/honoraria, bonuses, and allowances for the board of Commissioners, board of Directors, and employees, including the structure, terms, and implementation of long-term incentives for the board of Directors.

In performing its duties and responsibilities, the nomination and Remuneration Committee is guided by the Charter of the nomination and Remuneration Committee, which was prepared and approved by the board of Commissioners dated july 1st, 2015. The Charter becomes the guideline and code of conduct in performing the duties of the nomination and Remuneration Committee.

Composition and Independencemembers of the nomination and Remuneration Committee are appointed based on the Decree of the board of Commissioners outside of the board of Commissioners meeting of PT Victoria Insurance Tbk no. 027-1/VIn-In/DIR/VI/2015 dated july 1, 2015, with the term of office effective since July 1, 2005 until the closing of the Annual General meeting of shareholders for the fiscal year 2017 to be held in 2018, or when the Chairman of the nomination and Remuneration Committee no longer serves as an Independent Commissioner. members of the nomination and Remuneration Committee are as follows.



seluruh anggota Komite nominasi dan Remunerasi tersebut menjalankan peran secara profesional dan independen. Komite nominasi dan Remunerasi tidak ada yang memiliki hubungan keuangan, kepengurusan, kepemilikan, dan hubungan keluarga dengan anggota Dewan Komisaris, Direksi dan/atau Pemegang saham utama dan Pengendali, ataupun hubungan dengan Perseroan yang dapat mempengaruhi kemampuannya untuk bertindak independen.

Profil Komite Nominasi dan RemunerasiProfil lengkap Ketua dan anggota Komite Nominasi dan Remunerasi dapat dilihat pada profil Dewan Komisaris dan Direksi.

Tugas dan Tanggung jawabKomite nominasi dan Remunerasi memiliki tugas dan tanggung jawab sebagai berikut.1. membantu Dewan Komisaris dalam menetapkan komposisi

jabatan anggota Direksi dan/atau Dewan Komisaris, kebijakan dan kriteria pemilihan calon anggota Direksi dan/atau Dewan Komisaris, serta kebijakan evaluasi kinerja bagi anggota Direksi dan/atau Dewan Komisaris;

2. memberikan rekomendasi kepada Dewan Komisaris dalam menetapkan struktur remunerasi, kebijakan atas remunerasi dan besaran atas remunerasi;

3. melakukan penilaian kinerja anggota Direksi dan/atau Dewan Komisaris serta kesesuaian dengan remunerasi yang diterima masing-masing anggota Direksi dan/atau Dewan Komisaris;

4. memberikan rekomendasi kepada Dewan Komisaris mengenai program pengembangan kemampuan anggota Direksi dan/atau Dewan Komisaris;

5. memberikan rekomendasi kepada Dewan Komisaris mengenai kebijakan remunerasi bagi anggota Direksi dan/atau Dewan Komisaris untuk disampaikan kepada Rapat umum Pemegang saham;

6. memberikan rekomendasi kepada Dewan Komisaris mengenai kebijakan remunerasi bagi Pejabat eksekutif dan karyawan secara keseluruhan untuk disampaikan kepada Direksi;

7. menyusun dan memberikan rekomendasi mengenai sistem serta prosedur pemilihan dan/atau penggantian anggota Dewan Komisaris dan Direksi kepada Dewan Komisaris untuk disampaikan kepada Rapat umum Pemegang saham;

8. memberikan rekomendasi mengenai calon anggota Dewan Komisaris dan/atau Direksi kepada Dewan Komisaris untuk disampaikan kepada Rapat umumPemegang saham;

9. menjaga kerahasiaan dokumen, data dan informasi Perseroan.

All members of the nomination and Remuneration Committee perform their roles professionally and independently. none of the members of the nomination and Remuneration Committee have any financial, management, ownership and family relationships with members of the board of Commissioners, the board of Directors and/or the major and Controlling shareholders, nor any relationship with the Company that may affect their ability to act independently.

The nomination and Remuneration Committee ProfileThe complete profile of the Chairman and members of the nomination and Remuneration Committee can be found in the Profile of the Board of Commissioners of the Corporate Profile section in this Annual Report.

Duties and ResponsibilitiesThe nomination and Remuneration Committee has the following duties and responsibilities.1. Assist the board of Commissioners in determining

composition of the board of Directors and/or board of Commissioners, policies and criteria for the nomination of board of Directors and/or board of Commissioners candidates as well as performance evaluation policy for members of the board of Directors and/or board of Commissioners;

2. Provide recommendations to the board of Commissioners in determining the structure, policy and the amount of remuneration;

3. Assess the performance of board of Directors’ and/or board of Commissioners’ performance as well as suitability of remuneration received by each member of the board of Directors and/or board of Commissioners;

4. Provide recommendations to the board of Commissioners regarding the capacity building program for the board of Directors and/or board of Commissioners;

5. Provide recommendations to the board of Commissioners regarding the remuneration policy for members of the board of Directors and/or board of Commissioners to be submitted to the General meeting of shareholders;

6. Provide recommendations to the board of Commissioners regarding the remuneration policy for Executive Officers and employees to be submitted to the board of Directors;

7. Prepare and provide recommendations on nomination and/or replacement systems and procedures of members of the board of Commissioners and board of Directors to the board of Commissioners to be submitted to the General meeting of shareholders;

8. Provide recommendations on board of Commissioners and/or board of Directors candidates to the board of Commissioners to be submitted to the General meeting of shareholders;

9. Maintain the confidentiality of documents, data and corporate information.



Pelaksanaan Tugassepanjang tahun 2017, Komite nominasi dan Remunerasi telah melaksanakan tugas:1. mengevaluasi kinerja karyawan dan manajemen Perseroan

dan memberikan masukan kepada Dewan Komisaris sehubungan dengan besaran kenaikan gaji di Perseroan;

2. mengevaluasi kinerja karyawan dan manajemen Perseroan dan memberikan masukan kepada Dewan Komisaris sehubungan dengan besaran bonus di Perseroan;

3. mengevaluasi jumlah anggota karyawan Perseroan disesuaikan dengan kebutuhan Perseroan;

4. mengevaluasi jumlah anggota Direksi disesuaikan dengan kebutuhan Perseroan termasuk komposisi keberagaman keahliannya; dan

5. memberikan rekomendasi calon anggota Direksi Perseroan.

Komite nominasi dan Remunerasi juga mengadakan rapat sesuai kebijakan Perseroan, yaitu 4 kali dalam setahun. Pelaksanaan rapat Komite nominasi dan Remunerasi selama tahun 2017 sebagai berikut.

Nama Name

Jabatan Position

Jumlah Rapat Number of Meetings




Vivekanand atmaram Tolani @Vikas Ketua Chairman 4 4 100.00

sulistijowati anggota Member 4 4 100.00

loekito saggitariono anggota Member 4 3 75.00

Pengembangan KompetensiKomite nominasi dan Remunerasi mengikuti program pengembangan kompetensi untuk meningkatkan kompetensi dan menunjang pelaksanaan tugas. Pengembangan kompetensi yang dilakukan Komite nominasi dan Remunerasi di tahun 2017 dapat dilihat pada uraian pengembangan kompetensi Dewan Komisaris dan Direksi.

Komite Pemantau Risiko Komite Pemantau Risiko adalah Komite pendukung Dewan Komisaris dalam melaksanakan pengawasan implementasi manajamen risiko di Perseroan. Komite Pemantau Risiko juga membantu Dewan Komisaris dalam mengevaluasi kebijakan manajemen risiko yang berlaku di Perseroan.

Dalam melaksanakan tugas dan tanggung jawabnya, Komite Pemantau Risiko berpedoman pada Piagam Komite Pemantau Risiko yang telah disahkan Dewan Komisaris pada tanggal 22

Duties ImplementationThroughout 2017, the nomination and Remuneration Committee has performed the following tasks:1. evaluated the performance of the employees and

management of the Company and advised the board of Commissioners regarding the amount of salary increases in the Company.

2. evaluated the performance of the employees and management of the Company and advised the board of Commissioners regarding the amount of bonus in the Company.

3. evaluated the number of Commissioners tailored to the needs of the Company, including the composition of the diversity of expertise.

4. evaluated the number of Directors tailored to the needs of the Company, including the composition of the diversity of expertise; and

5. Provided recommendations on prospective members of the board of Commissioners.

The nomination and Remuneration Committee also held meetings according to the Company’s policy, which is 4 times a year. The implementation of the nomination and Remuneration Committee meetings throughout 2017 as follows.

Competence DevelopmentThe nomination and Remuneration Committee participated in a competency development program to improve competence and support the implementation of tasks. The competency development undertaken by the nomination and Remuneration Committee in 2017 is available in the description of the competence development of the board of Commissioners and the board of Directors.

Risk monitoring CommitteeThe Risk monitoring Committee is the board of Commissioners supporting committee in implementing the supervision of the risk management implementation. The Risk monitoring Committee also assists the board of Commissioners in evaluating the prevailing risk management policies in the Company.

In performing its duties and responsibilities, the Risk monitoring Committee shall be guided by the Risk monitoring Committee Charter which has been ratified by the Board of Commissioners



juli 2016 Piagam Komite Pemantau Risiko menjadi pedoman dan tata tertib kerja pelaksanaan tugas Komite Pemantau Risiko.

Komposisi dan IndependensiPerseroan telah membentuk Komite Pemantau Risiko melalui surat Keputusan Dewan Komisaris di luar Rapat Dewan Komisaris PT Victoria Insurance Tbk no. 026-1/VIn-In/DIR/VI/2015 tanggal 1 juli 2015 dan dimutakhirkan dengan surat Keputusan Dewan Komisaris di luar Rapat Dewan Komisaris PT Victoria Insurance Tbk no. 036-10/VInIn/Kom/VII/2016 tanggal 22 juli 2016 dengan masa jabatan 4 tahun. berikut susunan komposisi Komite Pemantau Risiko yang dimiliki oleh Perseroan.


jimmy paulus Watulingas Ketua / Chairman

Vivekakand atmaram Tolani@Vikas anggota / member

sulistijowati anggota / member

Komite Pemantau Risiko menjalankan peran secara profesional dan independen. Komite Pemantau Risiko tidak ada yang memiliki hubungan keuangan, kepengurusan, kepemilikan, dan hubungan keluarga dengan anggota Dewan Komisaris, anggota Direksi, dan/atau Pemegang saham utama dan Pengendali, ataupun hubungan dengan Perseroan yang dapat mempengaruhi kemampuannya untuk bertindak independen.

Profil Komite Pemantau RisikoProfil lengkap Ketua dan anggota Komite Pemantau Risiko dapat dilihat pada bagian Profil Dewan Komisaris.

Tugas dan Tanggung jawab

Komite Pemantau Risiko memiliki tugas dan tanggung jawab yang meliputi: 1. membantu Dewan Komisaris dalam memantau pelaksanaan

manajemen risiko serta menilai toleransi risiko yang dapat diambil oleh Perseroan;

2. melakukan pengawasan dan pemantauan pelaksanaan penerapan manajemen risiko;

3. Menilai efektifitas manajemen risiko, termasuk menilai toleransi risiko yang dapat diambil oleh Perseroan dengan memperhatikan peraturan dan perundang-undangan yang berlaku, dan memberikan pertimbangan sasaran dan strategi jangka panjang Perseroan.

Pelaksanaan TugasPada tahun 2017, Komite Pemantau Risiko telah menjalankan tugas terkait:1. membantu Dewan Komisaris dalam mengkaji sistem

manajemen risiko yang disusun oleh Direksi, serta menilai toleransi yang dapat diambil oleh Perseroan;

on july 22nd, 2016, and has since became the guideline and code of conduct of the Risk monitoring Committee in performing their duties.

Composition and IndependenceThe Company has established the Risk monitoring Committee through by the Decree of the board of Commissioners outside of the board of Commissioners meeting of PT Victoria Insurance Tbk no. 026-1/VIn-In/DIR/VI/2015 dated july 1, 2015 which was updated by the Decree of the board of Commissioners outside of the board of Commissioners meeting of PT Victoria Insurance Tbk no. 036-10/VInIn/Kom/VII/2016 dated july 22, 2016 with the term of office of 4 years. Here is the composition of the Risk monitoring Committee owned by the Company.

The Risk monitoring Committee perform their role professionally and independently. none of the members of the Risk Monitoring Committee have any financial, management, ownership and family relationships with members of the board of Commissioners, the board of Directors and/or the major and Controlling shareholders, nor any relationship with the Company that may affect their ability to act independently.

Risk Oversight Committee’s ProfileDetailed profile of Risk Oversight Committee Chairman and members is available under the Board of Commissioners’ Profile section.

Duties and Responsibilities

The Risk monitoring Committee have duties and responsibilities that include: 1. Assist the board of Commissioners in monitoring the

implementation of risk management and assessing the Company’s risk tolerance level;

2. supervise and monitor the implementation of risk management;

3. Assess the effectiveness of risk management, including assessing the Company’s risk tolerance level by observing applicable rules and legislations and taking into consideration the Company’s long-term goals and strategies.

Duties ImplementationIn 2017, the Risk monitoring Committee carried out tasks related to:1. Assisted the board of Commissioners in reviewing risk

management system prepared by the board of Directors and the Company’s risk tolerance level;



2. Membantu Dewan Komisaris dalam mengidentifikasi risiko usaha sesuai best practices pengelolaan risiko;

3. memantau pelaksanaan kebijakan manajemen risiko yang terdiri dari risiko keuangan, risiko pasar, risiko dana, risiko operasional, risiko legal dan risiko sumber daya manusia sesuai best practices pengelolaan risiko;

4. mengevakuasi pelaksanaan kegiatan operasional Perseroan sesuai best practices pengelolaan risiko dan selanjutnya melaporkan kepada Dewan Komisaris; dan

5. melakukan pendalaman atas potensi risiko sesuai dengan best practices pengelolan risiko yang perlu mendapatkan perhatian Dewan Komisaris dan memberikan saran perbaikan dan tindak lanjut kepada Dewan Komisaris.

Komite pemantau risiko mengadakan rapat sesuai kebijakan Perseroan, yaitu melaksanakan 12 kali rapat. Pelaksanaan rapat Komite Pemantau Risiko selama tahun 2017 sebagai berikut.

NamaName

JabatanPosition

Jumlah Rapat Number of Meetings




jimmy paulus Watulingas KetuaChairman 12 12 100.00

Vivekakand atmaram Tolani@Vikas anggotaMember 12 12 100.00

sulistijowati anggotaMember 12 12 100.00

Pengembangan KompetensiKomite Pemantau Risiko mengikuti program pengembangan kompetensi untuk meningkatkan kompetensi dan menunjang pelaksanaan tugas. Pengembangan kompetensi yang dilakukan Komite Pemantau Risiko di tahun 2017 dapat dilihat pada uraian pengembangan kompetensi Dewan Komisaris.

organ di bawah Direksiorgan under the board of Directors

Guna menjamin efektifitas pengelolaan perusahaan, Direksi membentuk organ pendukung yang disesuaikan dengan kompleksitas dan kebutuhan usaha Perseroan. Pembentukan organ pendukung Direksi juga dilaksanakan dengan mempertimbangkan peraturan dan perundang-undangan yang berlaku, khususnya di bidang pasar modal.

Terkait hal tersebut, Direksi telah membentuk organ tata kelola di bawah Direksi yang khususnya akan dilaksanakan oleh sekretaris Perusahaan, unit Audit Internal, serta Komite Pengembangan Produk Asuransi yang diuraikan sebagai berikut.

2. Assisted the board of Commissioners in identifying business risks in accordance with risk management best practices;

3. monitored the implementation of risk management policy that comprised of financial risk, market risk, funding risk, operational risk, legal risk and human resources risk in accordance with risk management best practices.

4. evaluated the Company’s operational activities in accordance with risk management best practices and subsequently reported to the board of Commissioners;

5. Analyzed risk potential that required the attention of the board of Commissioners in accordance with risk management best practices and suggested improvements and follow up to the board of Commissioners

The Risk monitoring Committee held 12 meetings in accordance with the Company’s policy. The meeting of the Risk monitoring Committee for 2017 was as follows.

Competence DevelopmentThe Risk monitoring Committee participated in a competency development program to improve competence and support the implementation of tasks. The competency development undertaken by the Risk monitoring Committee in 2017 is available under the description of the competence development of the board of Commissioners.

In order to ensure the effectiveness of the management of the company, the board of Directors establishes supporting organs that are adapted to the complexity and business needs of the Company. The establishment of the supporting organs of the board of Directors is also conducted by taking into account the prevailing laws and regulations, particularly in the capital market.

In relation thereto, the board of Directors has established a governance organ under the board of Directors that will specifically be implemented by the Corporate Secretary, Internal Audit unit, and Insurance Product Development Committee described as follows.



sekretaris Perusahaansekretaris Perusahaan adalah organ Direksi yang berada langsung di bawah Direktur utama, serta diangkat dan bertanggung jawab langsung kepada Direktur utama. sekretaris Perusahaan berfungsi sebagai penghubung antara Perseroan dengan pihak otoritas di pasar modal, investor dan pemangku kepentingan lainnya, serta memastikan bahwa Perseroan mematuhi ketentuan peraturan perundang-undangan yang berlaku.

Profil Sekretaris Perusahaanberdasarkan surat Keputusan Direksi Perseroan no. 012-1/VIn-In/DIR/VI/2015 tanggal 10 juni 2015 tentang Pengangkatan sekretaris Perusahaan PT Victoria Insurance Tbk, Perseroan telah menetapkan nia hapsari sebagai sekretaris Perusahaan yang berlaku efektif sejak tanggal 10 juni 2015.

Sekretaris PerusahaanNia Hapsari Warga negara Indonesia, 38 tahun, berdomisili di jakarta. memperoleh gelar Diploma Informatika Komputer dari lembaga Pendidikan dan Pengembangan Profesi Indonesia pada tahun 1999. bergabung dengan Perseroan sejak tahun 2014 sebagai sekretaris dan hR GA. sebelumnya menjabat sebagai sekretaris PT sinar Abadi Kharisma (2013-2014), Kepala operasional PT hans Trade excelindo (2002-2013), staf Akunting PT jalur mas (2001- 2002), staf Administrasi Klaim Kendaraan mobil PT jaya utama baru (2000-2001), dan Resepsionis PT Karabha unggul (1999-2000).

Tugas dan Tanggung jawabTugas sekretaris Perusahaan adalah:1. mengikuti perkembangan pasar modal, khususnya peraturan

perundang-undangan yang berlaku di bidang pasar modal;2. memberikan masukan kepada Direksi dan Dewan Komisaris

untuk memenuhi ketentuan peraturan perundang-undangan di bidang pasar modal;

3. membantu Direksi dan Dewan Komisaris dalam pelaksanaan tata kelola perusahaan yang meliputi:

a. Keterbukaan informasi kepada masyarakat, termasuk ketersediaan informasi pada situs web Perseroan;

b. Penyampaian laporan kepada otoritas jasa Keuangan tepat waktu;

c. Penyelenggaraan dan dokumentasi Rapat umum Pemegang saham;

d. Penyelenggaraan dan dokumentasi rapat Direksi dan/atau Dewan Komisaris; dan

e. Pelaksanaan program orientasi terhadap perusahaan bagi Direksi dan/atau Dewan Komisaris;

4. sebagai penghubung antara Perseroan dengan Pemegang saham, otoritas jasa Keuangan, dan pemangku kepentingan lainnya

Corporate secretaryThe Corporate secretary is an organ of the board of Directors directly under the President Director, and appointed and directly report to the President Director. The Corporate secretary serves as a liaison between the Company and the authorities in the capital market, investors and other stakeholders, and ensures that the Company complies with applicable laws and regulations.

Profile of Corporate SecretaryThe Corporate secretary is an organ of the board of Directors directly under the President Director, and appointed and directly report to the President Director. The Corporate secretary serves as a liaison between the Company and the authorities in the capital market, investors and other stakeholders, and ensures that the Company complies with applicable laws and regulations.

Corporate SecretaryNia Hapsari Indonesian citizen, 38 year-old, domiciled in jakarta. obtained her Diploma in Computer Information from the Indonesian education and Professional Development Institution in 1999. joined PT Victoria Insurance Tbk in 2014 as secretary and hRGA. Previously served as secretary at PT sinar Abadi Kharisma in jakarta (2013-2014), head of operations of PT hans Trade excelindo (2002-2013), Accounting staff at PT jalur mas (2001-2002), Administrative staff on Vehicle Car Claims at PT jaya utama baru (2000-2001), and Receptionist at PT Karabha unggul (1999-2000).

Duties And ResponsibilitiesThe duties of the Corporate secretary are:1. Keep abreast of the developments of the capital market,

particularly in terms of prevailing capital market regulations;2. Provide input to the board of Directors and board

of Commissioners in complying with capital market regulations;

3. Assist the board of Directors and the board of Commissioners in the implementation of good corporate governance that includes:a. Information disclosure to the public, including the

availability of information on the Company’s web site;b. submission of reports to the financial services

Authority in a timely manner;c. Arrangement and documentation of the General

meeting of shareholders;d. Arrangement and documentation of board of Directors’

and/or board of Commissioners’ meetings; ande. Arrangement of the Company’s orientation program for

board of Directors and/or board of Commissioners.4. Act as a liaison between the Company and shareholders, the

financial services Authority, and other stakeholders.



5. menyiapkan Daftar Khusus yang berkaitan dengan Direksi, Dewan Komisaris dan keluarganya, baik dalam Perseroan maupun afiliasinya, yang antara lain mencakup kepemilikan saham, hubungan bisnis dan peranan lain yang menimbulkan benturan kepentingan dengan Perseroan;

6. membuat Daftar Pemegang saham, termasuk kepemilikan 5% atau lebih;

7. menghadiri rapat Direksi dan membuat minuta hasil rapat;8. membantu Direksi dalam penyelenggaraan Rapat umum

Pemegang saham.

Pelaksanaan Tugasberdasarkan tugas dan tanggung jawab tersebut, sepanjang tahun 2017, sekretaris Perusahaan telah melaksanakan tugas:1. Penyusunan Annual Report tahun buku 2016;2. Pelaksanaan Public Expose Insidentil;3. Pelaksanaan RuPs Tahunan Perseroan;

4. Pelaksanaan Public Expose Tahunan; dan5. Pelaksanaan RuPs luar biasa Perseroan.

Pengembangan Kompetensi

sekretaris Perusahaan juga telah mengikuti beberapa program pengembangan kompetensi guna meningkatkan kapabilitas pelaksanaan tugas pengurusan Perseroan. berikut program pengembangan kompetensi yang diikuti sekretaris Perusahaan pada tahun 2017.

Program Pengembangan Kompetensi Competency Development Program

Tempat dan Periode Pelaksanaan Venue and Time

Penyelenggara organizer

sosialisasi seojK no.9/seojK.05/2017 mengenai asuransi Mikro dan pojK no.17/pojK.05/2017 mengenai sanksi administratif di Bidang perasuransian Dissemination of seojK no.9/seojK.05/2017 regarding microinsurance and PojK no.17/PojK.05/2017 regarding Administrative sanctions in the field of Insurance

jakarta, 26 Mei 2017 jakarta, may 26th, 2017

otoritas jasa KeuanganThe Financial services authority

sosialisasi pojK no. 13/pojK.03/2017 tentang penggunaan jasa akuntan publik dan Kantor akuntan publik dalam Kegiatan jasa

KeuanganDissemination of PojK no. 13/PojK.03/2017 regarding use of Public Accountant services and Public Accountant firm in financial services Activities

jakarta, 27 juli 2017jakarta, july 27th, 2017

pT Bursa efek indonesia dan

indonesia Corporate secretary Association

seminar pojK 21/pojK.04/2015 tentang penerapan pedoman Tata Kelola perusahaan Terbukaseminar on PojK 21/PojK.04/2015 regarding Implementation of Guideline for open Corporate Governance

jakarta, 16 agustus 2017 jakarta, August 16th, 2017

pT Bursa efek indonesia dan

indonesia Corporate secretary Association

sosialisasi program Kerja literasi Keuangan Tahun 2018Dissemination of financial literacy Work Program of 2018

jakarta, 5 oktober 2017jakarta, october 5th, 2017

otoritas jasa Keuangan The financial services Authority

seminar peraturan Konversi & revisi peraturan lama menjadi pojK seminar on Rules of Conversion & Revision of old Rules to PojK

jakarta, 5 oktober 2017 jakarta, october 5th, 2017

Bursa efek indonesia Indonesia stock exchange

indonesia 2018 : sailing Through economic and political Tide jakarta, 20 november 2017 jakarta, november 20th, 2017

Bursa efek indonesia Indonesia stock exchange

5. Prepare a special list pertaining to the board of Directors, board of Commissioners and their family members both in the Company and its affiliates that includes stock ownership, business affiliation and other roles that potentially create conflicts of interest with the Company;

6. Create a list of shareholders with 5% ownership or more;7. Attend the board of Directors’ meetings and create the

minutes of the meetings;8. Assist the board of Directors during the Annual General

meeting of shareholders.

Duties Implementationbased on these duties and responsibilities, throughout 2017, the Corporate secretary has performed the following tasks:1. Preparation of Annual Report for fiscal year 2016;2. execution of Incidental Public expose;3. execution of the Annual General meeting of shareholders of

the Company;4. execution of Annual Public expose; and5. execution of the extraordinary General meeting of the

Company.

Competence Development

The Corporate secretary has also participated in several competency development programs to improve the capability of the Company’s tasks. The following are competency development programs followed by the Corporate secretary in 2017.



unit Audit Internalunit Audit Internal adalah organ pendukung Direksi yang berperan dalam memberi keyakinan dan konsultasi yang yang bersifat independen dan objektif dengan tujuan untuk meningkatkan nilai dan memperbaiki operasional perusahaan melalui pendekatan yang sistematis hal ini dilakukan dengan cara mengevaluasi dan meningkatkan efektivitas manajemen risiko, pengendalian, dan proses tata kelola perusahaan.

Terkait hal tersebut, Perseroan telah membentuk unit Audit Internal yang telah dilengkapi dengan Piagam Audit Internal yang telah disahkan Direksi pada tanggal 1 juni 2015. Piagam Audit Internal menjadi pedoman dan tata tertib kerja pelaksanaan tugas unit Audit Internal.

Profil Kepala Unit Audit InternalPerseroan telah menunjuk Thomas P. j. sahertian sebagai Kepala unit Audit Internal menggantikan Dicky muliady yang diangkat berdasarkan surat Keputusan Direksi no. 077-1/VIn-In/ DIR/VIII/2017 tanggal 1 Agustus 2017 tentang Pengangkatan Kepala Audit Internal PT Victoria Insurance Tbk.

Kepala Unit Audit InternalThomas P. J. SahertianWarga negara Indonesia, usia 48 tahun, berdomisili di jakarta. memperoleh gelar sarjana Akuntansi dari universitas satya negara Indonesia pada tahun 1997. bergabung dengan Perseroan pada tahun 2017 sebagai Internal Audit. sebelumnya, menjabat sebagai Internal Audit (sKAI) di PT Asuransi jiwa Recapital (2007-2017), Human Resources and General Affairs di PT Citra Gemilang nusantara (2005-2007), Perencanaan, Pelaksanaan dan Pelaporan Audit di KAP Drs. LK. Surbakti & Partner, Finance di PT Allianz life Indonesia (2001-2005), dan Finance and Accounting di PT Citra Antar segara (1994-1997).

Tugas dan Tanggung jawabunit Audit Internal memiliki tugas dan tanggung jawab dalam hal:1. menyusun dan melaksanakan rencana audit internal

tahunan;2. menguji dan mengevaluasi pelaksanaan pengendalian

interen dan sistem manajemen risiko sesuai dengan kebijakan Perseroan;

3. Melakukan pemeriksanaan dan penilaian atas efisiensi dan efektivitas di bidang keuangan, akuntansi, operasional, sumber daya manusia, pemasaran, teknologi informasi, dan kegiatan lainnya;

4. memberikan saran perbaikan dan informasi yang obyektif tentang kegiatan yang diperiksa pada semua tingkat manajemen;

5. membuat laporan hasil audit dan menyampaikan laporan tersebut kepada Direktur utama dan Dewan Komisaris;

6. memantau, menganalisis dan melaporkan pelaksanaan tindak lanjut perbaikan yang telah disarankan;

The Internal Audit unitThe Internal Audit unit is a supporting organ of the board of Directors that perform a role in providing independent and objective confidence and consultation with the aim of increasing value and improving the company’s operations through a systematic approach. This is done by evaluating and improving the effectiveness of risk management, control and governance processes of the company.

In relation to this matter, the Company has established an Internal Audit unit that has been equiped with an Internal Audit Charter approved by the board of Directors on june 1st, 2015. The Charter of the Internal Audit unit becomes the guideline and work rule of the task implementation of the Internal Audit unit.

The Head of Internal Audit Unit ProfileThe Company has appointed Thomas P. j. sahertian as the head of Internal Audit unit replacing Dicky muliady who was appointed based on the Decree of the board of Directors no. 077-1/VIn-In/DIR/VIII/2017 dated August 1sT, 2017 on the Appointment of head of Internal Audit of PT Victoria Insurance Tbk.

Head of Internal Audit UnitThomas P. J. SahertianIndonesian citizen, age 48 years, domiciled in jakarta. he obtained his bachelor Degree in Accounting from satya negara Indonesia university in 1997. joined the Company in 2017 as Internal Audit. Previously, he served as Internal Audit (sKAI) at PT Asuransi jiwa Recapital (2007-2017), human Resources and General Affairs at PT Citra Gemilang nusantara (2005-2007), Planning, Implementation and Reporting of Audit in KAP Drs. LK. surbakti & Partners, finance at PT Allianz life Indonesia (2001-2005), and finance and Accounting at PT Citra Antar segara (1994-1997).

Duties and ResponsibilitiesThe Internal Audit unit has duties and responsibilities in:

1. Develop and implement the annual internal audit plan;

2. examine and evaluate the implementation of the internal control and risk management system in accordance with the Company’s policies;

3. Examine and assess the efficiency and effectiveness of the Company’s finance, accounting, operations, human resources, marketing, information technology and other activities;

4. suggest improvements and provide objective information on the activities examined at all managerial levels;

5. Prepare and submit audit reports to the President Director and the board of Commissioners;

6. monitor, analyze and report the implementation of the improvements that have been suggested;



7. Collaborate with the Audit Committee;8. Develop programs to evaluate the quality of internal audit

activities; and9. Conduct special investigations if necessary.

Duties Implementationbased on the duties and responsibilities, The Audit Internal unit has performed the following duties in 2017:1. formulated and implemented annual internal audit plan;

2. examined and evaluated the implementation of the internal control and risk management system in accordance with the Company’s policy;

3. Inspected and assessed the efficiency and effectiveness of the Company’s finance, accounting, operations, human resources, marketing, information technology and other activities;

4. suggested improvements and provided objective information on the activities examined at all managerial levels;

5. Prepared and submitted audit reports to the President Director and the board of Commissioners;

6. monitored, analyzed and reported the implementation of the improvements that have been suggested;

7. Collaborated with the audit Committee;8. Developed programs to evaluate the quality of internal

audit activities; and9. Conducted special investigations if necessary.

Competence DevelopmentThe Internal Audit unit has participated in several competency development programs to improve the capability of the Company’s tasks. The following are competency development programs followed by the Internal Audit unit in 2’

Investment CommitteeThe Investment Committee is a requirement of the board of Directors to improve the supervision function on the established investment policy..

Duties and Responsibilities of the Investment CommitteesThe duties and responsibilities of the Investment Committee are outlined as follows.

7. bekerja sama dengan Komite Audit;8. menyusun program untuk mengevaluasi mutu kegiatan

audit internal yang dilakukannya; dan9. melakukan pemeriksaan khusus apabila diperlukan.

Pelaksanaan Tugasberdasarkan tugas dan tanggung jawab tersebut, sepanjang tahun 2017, unit Internal Audit telah melaksanakan tugas:1. menyusun dan melaksanakan rencana audit internal

tahunan;2. menguji dan mengevaluasi pelaksanaan pengendalian

internal dan sistem manajemen risiko sesuai dengan kebijakan Perseroan;

3. Melakukan pemeriksaan dan penilaian atas efisiensi dan efektivitas di bidang keuangan, akuntansi, operasional, sumber daya manusia, pemasaran, teknologi informasi dan kegiatan lainnya;

4. memberikan saran perbaikan dan informasi yang obyektif tentang kegiatan yang diperiksa pada semua tingkat manajemen;

5. membuat laporan hasil audit dan menyampaikan laporan tersebut kepada Direktur utama dan Dewan Komisaris;

6. memantau, menganalisis dan melaporkan pelaksanaan tindak lanjut perbaikan yang telah disarankan;

7. bekerja sama dengan Komite Audit;8. menyusun program untuk mengevaluasi mutu kegiatan

audit internal yang dilakukannya; dan9. melakukan pemeriksaan khusus, apabila diperlukan.

Pengembangan Kompetensiunit Audit Internal mengikuti beberapa program pengembangan kompetensi guna meningkatkan kapabilitas pelaksanaan tugas pengurusan Perseroan. berikut program pengembangan kompetensi yang diikuti unit Audit Internal pada tahun 2017.

Program Pengembangan KompetensiCompetency Development Program

Tempat dan Periode PelaksanaanVenue and Time

Penyelenggaraorganizer

Forum Group Discussion rancangan peraturan otoritas jasa Keuangan (rpojK) tentang perusahaan induk Konglomerasi Keuangan (piKK) forum Group Discussion on the Draft of the financial services Authority (RPojK) Regulation on the holding Company financial Conglomerates (PIKK)

jakarta, 15 juni 2017 jakarta, june 15th, 2017


Komite InvestasiKomite Investasi merupakan kebutuhan Direksi Perseroan untuk meningkatkan fungsi pengawasan kebijakan investasi yang telah ditetapkan.

Tugas dan Tanggung jawab Komite InvestasiTugas dan tanggung jawab Komite Investasi diuraikan sebagai berikut.



1. melakukan kajian kelayakan dan memberikan rekomendasi atas pelaksanaan investasi Perseroan, termasuk setiap rencana kerja sama investasi dengan pihak ketiga atau manager investasi;

2. membantu menyusun kebijakan dan strategi investasi serta mereview dan mengusulkan perubahan agar sesuai dengan situasi, kondisi dan ketentuan yang berlaku;

3. mengevaluasi secara berkesinambungan mengenai pembiayaan dan keuntungan atas pelaksanaan investasi Perseroan dalam jangka waktu tertentu;

4. melakukan koordinasi dengan instansi terkait khususnya sehubungan dengan investasi langsung dalam penyediaan infrastruktur, termasuk apabila terjadi kegagalan pemenuhan kerja sama; dan

5. memonitor pelaksanaan investasi Perseroan, baik pencapaiannya maupun kesesuaiannya dengan kebijakan dan strategi investasi Perseroan.

susunan Komite Investasi

Anggota Komite Investasi diangkat berdasarkan Keputusan Direksi no. 024-1/VIn-In/DIR/VI/2015 tanggal 1 juni 2015 dengan susunan sebagai berikut.


suryadi Ketua / Chairman

rate Margareta anggota / member

Profil Komite InvestasiProfil lengkap Ketua dan anggota Komite Investasi dapat dilihat pada bagian Profil Direksi.

Pelaksanaan Tugas dan Komite Investasi

Pada tahun 2017, Komite Investasi telah menjalankan kegiatan sebagai berikut.1. melakukan penelaahan atas investasi-investasi Perseroan

serta melaporkannya kepada Direksi Perseroan pada rapat Direksi.

Rapat Komite InvestasiRapat Komite Investasi pada tahun 2017 dilaksanakan sebanyak 2 kali dengan daftar dan persentase tingkat kehadiran sebagai berikut.

NamaName

JabatanPosition

Jumlah RapatMeeting

KehadiranAttendance

Persentase KehadiranAttendance Percent-

age

suryadi Ketua / Chairman 2 2 100.00

rate Margareta anggota / member 2 2 100.00

1. Conducts a feasibility study and provides recommendations on the implementation of the Company’s investment, including any investment plans with third parties or investment managers;

2. Assists in the formulation of investment policies and strategies as well as reviews and proposes amendments to be in line with applicable situations, conditions and regulations;

3. Continuously evaluates the financing and profitability of the Company’s investment in a certain period of time;

4. Coordinates with related institutions especially in connection with direct investment in infrastructure provision, including in case of failure of cooperation fulfillment; and

5. monitors the implementation of the Company’s investment, both its achievements and its compliance with the Company’s investment policies and strategies.

The Composition of The Investment CommitteeThe members of the Investment Committee are appointed by Decree of the board of Directors no. 024-1/VIn-In/DIR/VI/2015 dated june 1st, 2015 with the following structure.

Investment Committee ProfileThe full profile of Chairman and members of the Investment Committee can be seen in the Board of Directors’ Profile.

Implementation of the Investment Committee Duties

In 2017, the Investment Committee has carried out the following activities.1. Reviewed the investments made by the Company and

reportd them to the board of Directors at the board of Directors’ meeting.

Investment Committee meetingsThe Investment Committee has conducted two meetings in 2017 with the list and attendance level as follows.



Pengembangan KompetensiDalam menjalankan tugasnya, Komite Investasi mengikuti pengembangan kompetensi guna meningkatkan pengetahuan dan efektivitas pelaksanaan tugasnya. berikut adalah pengembangan kompetensi Komite Investasi.


Program Pengembangan Kompetensi Competency Development Program

Tempat dan Periode Pelaksanaan Venue and Time

suryadi Penerapan sistem Pernyataan Pendaftaran atau Aksi Korporasi secara elektronik (E-Registration) The Implementation of electronic Registration statement system or electronic Corporate Action (e-Registration)

jakarta, 21 juli 2017 jakarta, july 12th, 2017

seminar pasar Modal Bersama robert p. Miles Capital market seminar with Robert P. miles

jakarta, 12 agustus 2017 jakarta, August 12th, 2017

Overseas Seminar Insurance School (Non-life) of Japan jakarta, 27 september 2017 jakarta, september 27th, 2017

Financial Modelling and Bussiness Inteligence for Corporate Budgeting

jakarta, 26 oktober 2017 akarta, october 26th, 2017

sosialisasi Roadmap otoritas jasa Keuangan dan implementasi sistem psaK 71 Promotion of the Roadmap of the financial services Authority and the Implementation of the PsAK 71 system

jakarta, 16 november 2017 jakarta, november 16th, 2017

Konferensi nasional profesional Manajemen risiko V national Risk management Professional Conference V

Yogyakarta, 22-24 november 2017 Yogyakarta, november 22-24, 2017

Facing the Challenge of 2018, Reinsurance Perspective Vietnam, 3-6 Desember 2017 Vietnam, Desember 3-6, 2017

rate Margareta Sharing Session Market Update Terkait Kondisi ekonomi indonesia dan analisa Data dan proyeksi industri asuransi Umum dan reasuransi pada semester 1 dan semester 2 Tahun 2017 sharing session market update Related to Indonesia economic Condition and Data Analysis and Industrial Projection of General Insurance and Reinsurance in 1st and 2nd semester of 2017

jakarta, 12 september 2017 jakarta, september 12th, 2017

Komite Pengembangan Produk Asuransi Dalam menjalankan tata kelola yang baik bagi perusahaan asuransi, Perseroan wajib memiliki Komite Pengembangan Produk Asuransi. Komite ini berperan dalam membantu Direksi merencanakan, mengelola, dan mengevaluasi produk-produk asuransi yang diberikan. Tujuannya adalah agar pengelolaan risiko produk asuransi dan pemasarannya berjalan dengan baik sehingga penerapan tata kelola dan manajemen risiko yang memadai, praktik-praktik asuransi yang sehat pada perusahaan asuransi, dan pemberdayaan pemegang polis atau tertanggung dapat ditingkatkan.

Competence DevelopmentIn performing their duties, the Investment Committee participated in competency development programs in order to increase the knowledge and effectiveness of their duties. below is the competence development of Investment Committee

Committee of Insurance Product Development In conducting a good governance for an insurance company, the Company is required to have a Committee of Insurance Product Development. This Committee is instrumental in assisting the board of Directors in planning, managing, and evaluating the insurance products provided. The objective is to ensure that the risk management of insurance product and its marketing is running well so that the application of good governance and risk management, sound insurance practices to the insurance company, and the empowerment of policyholders or the insured can be improved.




Perseroan telah membentuk Komite Pengembangan Produk Asuransi melalui surat Keputusan Direksi no. 025-1/VIn-In/DIR/VI/2015 tanggal 1 juni 2015 tentang Pembentukan Komite Pengembangan Produk Asuransi PT Victoria Insurance Tbk dengan masa jabatan 4 tahun. Adapun susunan komposisi Komite Pengembangan Produk Asuransi sebagai berikut.

Nama Name

JabatanPosition

Drs. Fatchurhuda Ketua / Chairman

rate Margareta anggota / Member

suryadi anggota / Member

Profil Komite Pengembangan Produk Asuransi

Profil lengkap Ketua dan anggota Komite Pengembangan Produk Asuransi dapat dilihat pada bagian Profil Direksi.

Tugas dan Tanggung jawabTugas dan tanggung jawab Komite Pengembangan Produk Asuransi adalah:

1. menyusun rencana strategis pengembangan dan pemasaran produk asuransi sebagai bagian dari rencana strategis kegiatan usaha perusahaan;

2. mengevaluasi kesesuaian produk asuransi baru yang akan dipasarkan dengan rencana strategis pengembangan dan pemasaran produk asuransi; dan

3. mengevaluasi kinerja produk asuransi dan mengusulkan perubahan atau penghentian pemasarannya.

Pelaksanaan Tugas

Pada tahun 2017, Komite Pengembangan Produk Asuransi telah menjalankan tugas:1. melakukan kerja sama produk personal accident

Rapat Komite Pengembangan Produk Asuransi

Rapat Komite Pengembangan Produk Asuransi pada tahun 2017 dilaksanakan sebanyak 3 kali dengan daftar dan persentase tingkat kehadiran sebagai berikut.

Composition And Independence

The Company has established the Committee of Insurance Product Development through the Decree of the board of Directors no. 025-1/VIn-In/DIR/VI/2015 dated june 1st, 2015 on the establishment of Insurance Product Development Committee of PT Victoria Insurance Tbk with a term of 4 years. The composition of the Insurance Product Development Committee is as follows.

Insurance Product Development Committee Profile

Full profile of the Chairman and member of the Insurance Product Development Committee can be found in the board of Directors Profile section.

Duties and ResponsibilitiesDuties and responsibilities of the Insurance Products Develop-ment Committee are:

1. Developing a strategic plan for the development and marketing of insurance products as part of the company’s strategic business plan;

2. evaluating the suitability of new insurance products to be marketed under the strategic plan for the development and marketing of insurance products; and

3. evaluating the performance of insurance products and propose changes or discontinuation of its marketing.

Duties Implementation

In 2017, the Insurance Product Development Committee has carried out its duties:1. Performed a cooperation on personal accident products.

Insurance Product Development Committee meeting

The Insurance Product Development Committee held 3 meetings in 2017 with the list and attendance level as follows.



NamaName

JabatanPosition

Jumlah RapatMeeting

KehadiranAtendance

Persentase KehadiranAttendance Percentage

suryadi Ketua / Chairmane 3 3 100.00

Drs. Fatchurhuda anggota / Member 3 3 100.00

rate Margareta anggota / Member 3 2 67.00

Pengembangan Kompetensi

Dalam menjalankan tugasnya, Komite Pengembangan Produk Asuransi mengikuti pengembangan kompetensi guna meningkatkan pengetahuan dan efektivitas pelaksanaan tugasnya. Pelaksanaan pengembangan kompetensi Komite Pengembangan Produk Asuransi sepanjang tahun 2017 dapat dilihat pada uraian Pengembangan Kompetensi Direksi.

Competence Development

In performing their duties, the Insurance Product Development Committee participated in competency development programs in order to increase the knowledge and effectiveness of their duties. below is the competence development of Insurance Product Development Committee.



sistem Pengendalian InternalInternal Control system

Perseroan melaksanakan sistem pengendalian internal untuk memberikan keyakinan memadai atas tercapainya tujuan Perseroan melalui kegiatan yang efektif dan efisien, keandalan pelaporan keuangan dan kinerja, serta pengamanan aset dan ketaatan terhadap peraturan perundang-undangan. Pelaksanaan sistem pengendalian internal tersebut melibatkan peran aktif Dewan Komisaris dan Direksi, beserta Komite Audit dan unit Audit Internal. Dewan Komisaris dan Komite Audit berperan dalam mengawasi pelaksanaan sistem pengendalian internal, serta memberikan saran dan rekomendasi terkait hal-hal yang memerlukan pendapat Dewan Komisaris, termasuk terkait upaya peningkatan efektivitas sistem pengendalian internal itu sendiri. sedangkan, Direksi dan unit Audit Internal berperan dalam melaksanakan pengendalian internal dan memastikan kesesuaian penerapannya pada unit-unit kerja yang dimiliki Perseroan.

Dalam melaksanakan pengendalian internal, unit Audit Internal melakukan audit rutin dan audit khusus untuk memastikan kesesuaian tugas unit kerja dengan peraturan dan ketentuan yang berlaku, baik yang berasal dari internal maupun eksternal Perseroan. berdasarkan perkembangan hasil audit dan pemantauan tindak lanjut perbaikan, organ-organ Perseroan melakukan evaluasi terhadap efektivitas pengendalian internal yang dijalankan, serta menetapkan langkah-langkah yang diperlukan untuk meminimalkan gap penerapannya dengan best practices yang dilakukan di perusahaan perasuransian.

sistem manajemen RisikoRisk management system

Dalam setiap kegiatan usaha yang dijalankan, Perseroan tidak terlepas dari paparan risiko. oleh karenanya, diperlukan sistem manajemen risiko yang memadai untuk meminimalisir terjadinya risiko dan dampaknya bagi Perseroan. Penerapan manajemen risiko dilakukan melalui proses identifikasi, perencanaan, pengelolaan, dan evaluasi risiko.

Terkait hal tersebut, Perseroan telah melakukan identifikasi terhadap risiko-risiko utama yang dihadapi yang diuraikan sebagai berikut.1. Risiko Klaim Asuransi sebagai perusahaan asuransi kerugian, risiko yang dihadapi

Perseroan adalah memberikan ganti rugi apabila telah terjadi peristiwa yang dipertanggungkan kepada tertanggung dengan nilai pertangungan maksimum sebesar jumlah yang

The Company carries out its internal control system to provide reasonable assurance on the achievement of the Company’s objectives through effective and efficient activities, reliability of financial and performance reporting, as well as safeguarding assets and compliance with laws and regulations. The implementation of the internal control system involves the active role of the board of Commissioners and the board of Directors, together with the Audit Committee and Internal Audit unit. The board of Commissioners and the Audit Committee play a role in overseeing the implementation of the internal control system, as well as providing advice and recommendations regarding matters that require the opinion of the board of Commissioners, including the efforts to improve the effectiveness of the internal control system itself. meanwhile, the board of Directors and the Internal Audit unit play a role in implementing internal controls and ensuring conformity with the Company’s work units.

In carrying out internal controls, the Internal Audit unit conducts routine audits and special audits to ensure work units’ duties compliance with applicable rules and regulations, internally or externally. based on the progress of the audit results and the monitoring of the recommendation follow-up, the Company’s organs evaluate the effectiveness of the internal controls undertaken, and determine the necessary steps to minimize the gap of its implementation with best practices undertaken at an insurance company.

In every business activity, the Company is not free from risk exposure. Therefore, an adequate risk management system is needed to minimize risks and impacts for the Company. The implementation of risk management is done through the process of risk identification, planning, management, and evaluation.

In relation thereto, the Company has identified the main risks encountered as described below.

1. Insurance Claims Risk As a general insurance company, the risk faced by the

Company is to cover the losses incurred providing that the insured event is occurred which impact the insured as many as the damage inflicted with a maximum amount of



telah disepakati bersama sebagai harga pertanggungan. Apabila terjadi beberapa klaim dengan akumulasi jumlah klaim yang besar dari sejumlah tertanggung dalam waktu yang bersamaan atau relatif bersamaan, hal ini dapat mengakibatkan menurunnya kinerja keuangan Perseroan, dalam hal ini arus kas Perseroan. Kontribusi klaim Perseroan saat ini berasal dari lini bisnis harta benda dan kendaraan bermotor. hal ini sejalan dengan kontribusi pendapatan premi yang didominasi oleh kedua lini bisnis tersebut.

2. Risiko Sumber Daya Manusia Dalam industri asuransi, sumber daya manusia sangat

berperan dalam menjaga kelangsungan usaha. Industri asuransi merupakan bisnis kepercayaan, sehingga perlu untuk mempunyai sumber daya manusia yang profesional dan memiliki soft competencies yang prima. Apabila tidak mempunyai sumber daya manusia yang handal, maka dapat mengakibatkan benturan proses bisnis internal dan eksternal.

3 Risiko Operasional Dalam melaksanakan operasinya, terdapat kemungkinan

penanggung ulang tidak memenuhi atau terlambat memenuhi kewajibannya. Di samping itu, adanya perubahan kondisi alam, seperti musim kemarau yang panjang yang menyebabkan kemungkinan terjadinya kebakaran semakin besar, merupakan salah satu risiko yang harus dihadapi.

4. Risiko Teknologi Perkembangan teknologi pada saat ini memungkinkan

untuk mengelola data dan administrasi atau customer database secara cepat dan akurat. Dengan semakin tingginya persaingan antar pelaku bisnis asuransi kerugian, maka teknologi menjadi suatu hal yang mendasar untuk meningkatkan produktivitas dan efesiensi kerja, serta melaksanakan prinsip kepuasan pelanggan. Apabila Perseroan tidak mengikuti dan melakukan pengembangan teknologi, maka dapat menurunkan pelayanan kepada tertanggung yang pada akhirnya akan menurunkan kinerja Perseroan.

5. Risiko Persaingan Dengan semakin banyaknya pelaku bisnis di bidang

asuransi kerugian yang dimiliki oleh kelompok usaha yang besar/kuat, maka semakin tinggi pula persaingan pada bisnis asuransi kerugian. sejalan dengan itu, risiko terjadi persaingan yang kurang sehat di pasar asuransi semakin besar, antara lain penurunan tarif premi, potongan harga lebih besar dan perluasan jaminan. Apabila hal ini terjadi dan berkelanjutan dalam waktu yang relatif lama, maka akan memberikan dampak penurunan pemasaran produk asuransi Perseroan yang pada akhirnya dapat menurunkan laba Perseroan.

6. Risiko Investasi sesuai Peraturan otoritas jasa Keuangan terkait

perusahaan-perusahaan asuransi di Indonesia, Perseroan melakukan investasi dalam berbagai bentuk, seperti deposito, obligasi, penyertaan saham dalam perusahaan lain, serta bentuk-bentuk investasi lainnya. Apabila terjadi penurunan suku bunga, maka akan terjadi penurunan

the previously agreed price of coverage. In case of multiple claims to the accumulation of a large number of claims from the insured amount in the same time or relatively simultaneously, this can result in reduced financial performance of the Company, in this case, the Company’s cash flow. The Company’s claims contribution currently sourced from property and motor vehicles business lines. This is in line with the contribution to premium revenue that is being dominated by the aforementioned two business lines.

2. Human Resources Risk In the insurance industry, human resources play an

important role in maintaining business sustainability. Insurance industry is a business of trust, therefore it is necessary to have professional human resources and excellent soft competencies. The lack of reliable human resources may lead to conflicting internal and external business processes.

3. Operational Risk In carrying out its operations, there is a possibility that the

reinsurer is unable or being late to meet its obligations. In addition, the changes in natural conditions, such as prolonged drought that greatly increases the possibility of fire, is one of the risks that must be faced.

4. Technology Risk The development of technology today allows the swift

and accurate management of administrative data or customers’ database. With increasing competition among the general insurance companies, the technology becomes fundamental to improve work productivity and efficiency as well as to perform the principle of customer satisfaction. If the Company were unable to keep up and develop said technology, it could degrade its services to the insured, which in turn would reduce the Company’s performance.

5. Competition Risk As more and more loss insurance companies are owned by

large business groups, the competition will only escalate further. In addition, there is also unhealthy competition in the insurance market, including lowering premium rates, greater discounts and expansion of collateral. As a result, if this situation continued for a prolonged period of time, it would reduce the Company’s insurance marketing activities, which in turn may reduce the Company’s profits.

6. Investment Risk In accordance with the fsA regulation on insurance

companies in Indonesia, the Company has invested in various vehicles, such as time deposits, bonds, shares of stock in other companies, as well as other forms of investment. In the event of interest rate decline, a decline in bond prices or drop in performance and profits of companies in which the



harga obligasi atau penurunan kinerja dan laba perusahaan di mana Perseroan melakukan investasi. hal ini dapat mempengaruhi pendapatan investasi Perseroan yang selanjutnya menurunkan kinerja keuangan Perseroan secara umum.

7. Risiko Valuta Asing sehubungan dengan adanya sebagian risiko yang dijamin

dalam mata uang asing, maka setiap terjadi perubahan pada kurs mata uang asing terhadap Rupiah akan memberatkan pembayaran klaim yang harus dilakukan dalam mata uang asing tersebut sehingga pada akhirnya dapat mempengaruhi laba Perseroan.

8. Risiko Perubahan Kebijakan Pemerintah Perubahan peraturan dan/atau kebijakan pemerintah dalam

bidang industri asuransi yang dapat terjadi dari waktu ke waktu, akan dapat mempengaruhi kinerja dan kegiatan usaha Perseroan yang pada akhirnya dapat menurunkan pendapatan Perseroan.

9. Risiko Ekonomi faktor risiko yang berasal dari luar perusahaan, antara lain

disebabkan oleh kondisi ekonomi, sosial dan politik, baik nasional maupun internasional, dapat berakibat kurang baik bagi dunia usaha pada umumnya. Pengaruh penurunan kondisi ekonomi bagi asuransi kerugian antara lain:• Asuransi kerugian akan memengaruhi pemasaran

produk Perseroan karena sampai sejauh ini asuransi masih belum merupakan kebutuhan primer masyarakat Indonesia;

• meningkatnya kemungkinan terjadinya klaim. hal ini bukan semata-mata diakibatkan oleh risiko fisik obyek pertanggungan, tetapi juga diakibatkan oleh risiko moral pengusaha.

Dalam memitigasi risiko-risiko tersebut, Perseroan menempuh langkah-langkah:1. menjalankan survei objek pertanggungan sebelum

penutupan dan survei kerugian dalam hal terjadi klaim;2. melakukan analisis risiko sebelum akseptasi;3. melakukan evaluasi secara berkala atas kinerja dari bisnis

korporasi yang sedang berjalan;4. menjalankan pengendalian internal secara konsisten;5. melaksanakan prudent underwriting.

Perseroan senantiasa mengevaluasi pelaksanaan sistem manajemen risiko. Perseroan melakukan pengukuran risiko untuk memperoleh gambaran efektivitas dari penerapan manajemen risiko, termasuk didalamnya pengelolaan terhadap risiko operasional dan risiko pasar. Dengan demikian setiap keputusan yang diambil selalu mengacu pada hasil perhitungan tersebut. Kepatuhan dan proses pengendalian internal dipantau melalui rambu-rambu standard operating procedure yang telah ditetapkan oleh Perseroan.

Company is investing, the Company’s investment income might be affected, which subsequently would lower the Company’s financial performance in general.

7. Foreign Exchange Risk Considering the risks are partially guaranteed in foreign

currency, changes in foreign currency exchange rates against the rupiah would burden the payment of claims in foreign currency, which in turn may affect the Company’s profit.

8. Risk of Government Policy Changes Changes in government regulations and/or policies on the

insurance industry can occur from time to time and might affect the Company’s performance and operation, which in turn may reduce the Company’s revenue.

9. Economic Risk The risk factors that originated from outside the Company,

among others, are due to the national and global economic, social and political conditions that could adversely affect business environment in general. The impacts of economic slowdown on insurance business, among others, are as follows:• General insurance would affect the Company’s products’

marketing activities, because to date, insurance is still not a primary need for the Indonesian society

• Increasing the likelihood of a claim, not solely caused by physical risks of the insured object, but also due to the moral risk of businesspeople.

.

In mitigating those aforementioned risks, the Company has performed the following measures:1. Running the survey towards insured object prior to closing

and survey of losses in the event of a claim;2. Conducting risk analysis prior to acceptance;3. Conducting regular performance evaluation of the running

corporate business;4. Running internal control consistently;5. Prudent underwriting.

The Company constantly evaluates the implementation of the risk management system. The Company takes risk measurement to obtain an overview of the effectiveness of risk management implementation, including the management of operational risk and market risk. Thus every decision taken always refers to the results of these calculations. Compliance and internal control processes are monitored through standard operating procedure guidelines established by the Company.



Akuntan PublikPublic Accountant

Akuntan publik adalah auditor eksternal yang berperan dalam melakukan pemeriksaan informasi keuangan Perseroan atas dasar pengujian, bukti-bukti yang mendukung nilai keuangan, dan pengungkapan dalam laporan keuangan. Akuntan publik juga berperan dalam memberikan penilaian atas prinsip akuntansi yang digunakan dan estimasi signifikan yang dibuat oleh manajemen, serta penilaian terhadap penyajian laporan keuangan secara keseluruhan. Akuntan publik bertanggung jawab atas pendapat yang diberikan terhadap laporan keuangan yang diaudit.

Penunjukan akuntan publik dan kantor akuntan publik yang akan mengaudit laporan keuangan perusahaan menjadi bagian dari pelaksanaan fungsi RuPs. berdasarkan RuPs Tahunan yang telah dilaksanakan pada tahun 2017, Perseroan telah menunjuk Kantor Akuntan Publik mirawati sensi Idris dan Akuntan Publik suharsono untuk mengaudit informasi dan laporan keuangan Perseroan tahun buku 2017.

Kode etikCode of Conduct

etika yang berlaku di Perseroan dituangkan dalam Kode etik Perseroan yang telah disusun dengan mengacu pada prinsip-prinsip dasar GCG, yaitu transparansi, akuntabilitas, responsibilitas, independensi dan kewajaran. Kode etik tersebut diterapkan dengan penuh komitmen oleh Dewan Komisaris, Direksi, dan seluruh karyawan guna memastikan bisnis Perseroan dijalankan dengan kejujuran dan integritas, serta sesuai dengan seluruh kriteria hukum dan standar etika yang tinggi. melalui pelaksanaan Kode etik Perseroan yang berkesinambungan, akan terbentuk budaya kerja yang diharapkan yang juga merupakan manifestasi dari nilai-nilai Perseroan.

Pokok-Pokok etika PerseroanPerseroan telah mengatur tentang pokok-pokok etika tentang pedoman umum atas hubungan karyawan dengan Perseroan, hubungan antar karyawan, hubungan dengan klien, hubungan dengan Pemegang saham, hubungan dengan pemerintah, serta hubungan dengan masyarakat. Perseroan menetapkan bahwa seluruh jajaran manajemen dan karyawan Perseroan wajib membaca, memahami dan melaksanakan pokok-pokok etika Perseroan ini. berikut pokok-pokok etika Perseroan tersebut.

A public accountant is an external auditor who plays a role in conducting an examination of the Company’s financial information on the basis of testing, evidence supporting the financial value, and disclosure in the financial statements. Public accountants also play a role in providing an assessment of the accounting principles used and significant estimates made by management, as well as an assessment of the presentation of the financial statements as a whole. The public accountant is responsible for the opinions given to the audited financial statements.

The appointment of public accountants and public accounting firms that will audit the Company’s financial statements become part of the implementation of the Gms function. based on the Annual General meeting of shareholders held in 2017, the Company has appointed mirawati sensi Idris Public Accounting firm and suharsono Public Accountant to audit the Company’s financial information and reporting for the fiscal year 2017.

The applicable ethics in the Company is set forth in the Company’s Code of Conduct which has been prepared in accordance with the GCG basic principles of transparency, accountability, responsibility, independence and fairness. The Code of Conduct is fully committed by the board of Commissioners, the board of Directors and all employees to ensure that the Company’s business is conducted with honesty and integrity, and complies with all high ethical and legal criteria. Through the continuous implementation of the Company’s Code of ethics, an expected work culture will be formed which is also a manifestation of the Company’s values.

Code of Conduct PrinciplesThe Company has govern the Code of Conduct principles concerning the general guidelines on for relationships between employee with the Company, relationships among employee, relationships with the customers, relationships with the shareholder, relationships with the government, and relationships with the community. The Company stipulates that all member of the management and all employees must must be read, understood and implemented all of these Code Conduct principles. The Company’s Code of Conduct principles are as follows.



1. Etika Bisnis etika bisnis dalam Kode etik Perseroan ini adalah nilai dan

norma yang menjadi acuan bagi seluruh jajaran manajemen dan karyawan Perseroan untuk berperilaku dengan etika bisnis yang sesuai dengan prinsip-prinsip dasar GCG dalam menjalankan kegiatan usahanya.

2. Etika Kerja etika kerja dalam Kode etik Perseroan ini adalah nilai dan

norma yang menjadi acuan bagi setiap individu Perseroan untuk berperilaku dengan etika yang baik berdasarkan prinsip-prinsip GCG dalam menjalankan segala aktivitasnya, baik di dalam maupun di luar lingkungan Perseroan.

3. Etika Terhadap Pihak Luar etika terhadap pihak luar dalam Kode etik Perseroan ini

adalah nilai dan norma yang menjadi acuan bagi setiap individu Perseroan untuk berperilaku dengan etika yang baik berdasarkan prinsip-prinsip GCG dalam membina hubungan dengan pihak luar Perseroan.

Penegakan etika Perseroan

Agar Kode etik dapat melindungi Perseroan, manajemen, karyawan, pelanggan, mitra usaha dan pemangku kepentingan lainnya dari perilaku-perilaku usaha yang menyimpang, maka Kode etik Perseroan disosialisasikan secara berkelanjutan kepada seluruh insan Perseroan, tanpa terkecuali, dalam berbagai acara dan kesempatan yang dilaksanakan. Penegakan Kode etik tersebut diikuti dengan penandatanganan pernyataan kepahaman terhadap Kode etik Perseroan.

Adapun sepanjang tahun 2017, insan Perseroan tidak menghadapi pelanggaran Kode etik Perseroan.

1. Business Ethics business ethics in the Company’s Code of Conduct describe

values and norms in accordance with the basic principles of GCG that must be observed by all members of the management and employees when conducting business activities.

2. Work Ethics The work ethics in the Company’s Code of Conduct describe

values and norms based on the principles of CGG that must be observed by each individual so that they maintain good and ethical behavior when they conduct activities inside and outside the Company.

3. Ethics to External Parties ethics to external parties in the Company’s Code of

Conduct describe values and norms in accordance with GCG principles that must be observed by all members of the Company so that they maintain good and ethical behavior when they nurture relationships with external parties..

enforcement of The Code of ConductIn order for the Code of Conduct can protect the Company, its management, employees, customers, business partners and other stakeholders from misbehaviorous business practices, the Company’s Code of Conduct is continually disseminated to all employees, without exception, in various events and occasions. enforcement of the Code of Conduct is followed by the signing of a statement of understanding on the Company’s Code of Conduct.

As for the year 2017, the Company’s employees did not face any penalty for violating the Company’s Code of Conduct.



budaya PerusahaanCorporate Culture

budaya Perseroan merupakan nilai-nilai utama yang menjadi landasan pelaksanaan kegiatan usaha Perseroan. Dalam penerapannya, budaya Perseroan juga merupakan panduan bagi setiap anggota Perseroan dalam melaksanakan tugas dan tanggung jawabnya untuk mencapai tujuan yang telah ditetapkan.

Perseroan memiliki pokok-pokok nilai utama Perseroan yang menjadi inti budaya Perseroan yang dirangkum dalam “INSURE”. budaya Perseroan tersebut dijelaskan sebagai berikut.✓ Integrity setiap anggota Perseroan diharapkan memiliki integritas

(Integrity), yaitu kualitas dan sifat yang mencerminkan keutuhan prinsip moral dan etika dalam menjalankan tugas dan tanggung jawab masing-masing.

The Corporate Culture is the main values underlying the implementation of the Company’s business activities. In its application, the Corporate Culture is also serves as a guide for every member of the Company in performing their duties and responsibilities to achieve its predetermined objectives.

The Company has the main values of the Company which are the core of the Company’s culture summarized in “INSURE”. The Corporate Culture is described as follows.✓ Integrity each member of the Company is expected to have Integrity

i.e. the quality and characteristic that reflect intact moral principle and ethics when performing their respective duties and responsibilities.

✓ Norms setiap anggota Perseroan diharapkan mematuhi norma-

norma (Norms) yang berlaku, baik peraturan internal Perseroan maupun peraturan perundang-undangan yang berlaku bagi warga negara dan badan usaha.

✓ Synergy setiap anggota Perseroan diharapkan untuk senantiasa

bersinergi (Synergy) dan bekerja sama dalam menjalankan, mengembangkan, serta memperluas usaha Perseroan.

✓ Norms each member of the Company is expected to observe

applicable norms including the Company’s internal regulations and laws and regulations that apply to citizens and business entities.

✓ Synergy each member of the Company is expected to have synergy

and cooperate with each other to run, develop, and expand the Company’s business.



✓ Understanding setiap anggota Perseroan diharapkan memiliki pemahaman

(Understanding) terhadap lingkungan sekitarnya, mengenai perkembangan yang terjadi di industri tempat Perseroan beroperasi, dan tentang peran masing-masing dalam kegiatan usaha Perseroan.

✓ Responsibility setiap anggota Perseroan diharapkan senantiasa

menjalankan tugas dan kewajibannya dengan penuh tanggung jawab (Responsibility) untuk menjaga kepercayaan yang diberikan oleh Perseroan, tertanggung, Pemegang saham, pemangku kepentingan, regulator, serta masyarakat, demi mempertahankan reputasi dan nama baik Perseroan.

✓ Eagerness setiap anggota Perseroan diharapkan memiliki semangat

(Eagerness) untuk berinovasi, mengembangkan potensi dan kemampuan masing-masing, serta menjawab tantangan yang muncul dalam menjalankan kegiatan usaha Perseroan.

sanksi AdministratifAdministrative sanctions

sepanjang tahun 2017, Perseroan dan masing-masing anggota Dewan Komisaris dan Direksi tidak menerima sanksi administratif yang dijatuhkan ojK maupun otoritas lainnya.

Whistleblowing SystemWhistleblowing system

Dalam melaksanakan tata kelola yang baik bagi perusahaan perasuransian, Perseroan menerapkan sistem pelaporan pelanggaran (whistleblowing system/Wbs). Perseroan telah menyusun kebijakan Wbs yang menjadi dasar dan panduan bagi insan Perseroan maupun pemangku kepentingan lainnya untuk menyampaikan pengaduan terkait pelanggaran yang terjadi di lingkungan perusahaan.

Terkait hal tersebut, Perseroan telah memiliki saluran pengaduan atas pelanggaran yang terjadi di dalam maupun di luar Perseroan, baik yang dilakukan secara langsung atau tidak langsung, oleh Perseroan secara kolektif, manajemen, karyawan, Direksi dan Dewan Komisaris. setiap pihak yang menemukan

✓ Understanding each member of the Company is expected to have

understanding regarding their environment, the industry where Company conducts its business, and their respective role in the Company’s business activities.

✓ Responsibility each member of the Company is expected to perform its

duties and obligations with Responsibility to maintain trust given by the Company, customers, shareholders, stakeholders, regulators, and the general public to maintain the Company’s reputation and good name.

✓ Eagerness each member of the Company is expected to have

eagerness to innovate, develop their potential and capacity, and answer challenges that arise in running the Company’s business activities.

Throughout 2017, the Company and each member of the board of Commissioners and the board of Directors did not accept the administrative sanctions imposed by fsA or other authorities.

In implementing Good Corporate Governance, the Company implements a whistleblowing system (Wbs). The Company has developed the Wbs policy which forms the basis and guidance for the Company and other stakeholders to submit complaints related to violations occurring within the company.

In relation thereto, the Company has a complaint channel for violations occurring inside or outside the Company, whether directly or indirectly, by the Company collectively, management, employees, the board of Directors and the Board of Commissioners. Any party that finds indications or



indikasi atau kejadian yang tidak sesuai dengan peraturan internal Perseroan maupun peraturan perundang-undangan yang berlaku dapat secara langsung melaporkan pelanggaran tersebut melalui email Perseroan yang terdapat pada situs web Perseroan, yaitu www.victoriainsurance.co.id. manajemen Perseroan secara rutin dan proaktif akan mengecek pengaduan tersebut, termasuk pengaduan nasabah pada sistem layanan konsumen otoritas jasa Keuangan, dan menjaring pengaduan yang dibuat pelapor melalui saluran eksternal.

Terhadap setiap laporan yang diterima, Perseroan menjamin terlindunginya privasi pelapor guna meminimalkan dampak negatif yang dapat timbul di kemudian hari dan untuk mendorong peningkatan efektivitas Wbs di lingkungan Perseroan. Adapun sepanjang tahun 2017, Perseroan tidak menerima pelaporan terkait pelanggaran di perusahaan.

events that are inconsistent with the Company’s internal rules and applicable legislation may directly report such violations through the Company’s email contained on the Company’s website, www.victoriainsurance.co.id. The Company’s management routinely and proactively checks the complaint, including customer complaints on the financial services Authority’s consumer services system, and collects complaints made by the complainant through external channels.

With respect to each report received, the Company guarantees the protection of the reporting party in order to minimize any negative impacts that may arise in the future and to encourage increased effectiveness of Wbs within the Company. As for the year 2017, the Company did not receive any reporting related to violations in the company.



Tanggung Jawab Sosial PerusahaanCorporate social Responsibility

CsR Terkait lingkungan hidupCsR Toward the environment

114

CsR Terkait Pengembangan sosial dan KemasyarakatanCsR Toward the social and Community Development

115

CsR Terkait Ketenagakerjaan, Kesehatan, dan Keselamatan KerjaCsR Toward employment, health and safety

116

CsR Terkait nasabahCsR Toward the Customers

116

112

Perseroan berkomitmen untuk melaksanakan tanggung jawab sosial (corporate social renponsibility/ CsR). hal ini dilakukan dengan kesadaran bahwa keberadaan Perseroan tidak hanya bertujuan untuk menciptakan profit, namun harus mampu memberikan kontribusi dalam pembangunan berkelanjutan kepada masyarakat (people) dan lingkungan (planet). Terkait hal tersebut, Perseroan melaksanakan CsR di bidang lingkungan hidup, ketenagakerjaan, sosial dan masyarakat, serta nasabah. Kegiatan CsR yang dilakukan Perseroan diharapkan dapat menciptakan interaksi harmonis antara Perseroan dengan masyarakat serta pemangku kepentingan dalam rangka meningkatkan kualitas kehidupan masyarakat.

CsR Terkait lingkungan hidupCsR Towards The environment

Perseroan mendukung program pemerintah terkait lingkungan hidup dengan terus berupaya mengurangi dampak lingkungan dari kegiatan operasional perusahaan. Pelaksanaan program tanggung jawab Perseroan terhadap lingkungan diantaranya melalui: a. Penghematan energi, air, dan listrik di lingkungan kantor;

b. Pelaksanaan program paperless melalui penggunaan kembali kertas layak pakai untuk fotokopi dan pemanfaatan teknologi, seperti pemindaian (scanning) dan email dalam kegiatan surat menyurat;

c. mengupayakan penggunaan material yang ramah lingkungan.

The Company is committed to carrying out its Corporate social Responsibility (CsR). This is done with the realization that the existence of the Company is not only aimed at creating profit, but must be able to contribute in sustainable development to the people and the planet. In this regard, the Company conducts CsR in the surrounding environment, employment, social and community sectors, as well as customers. The Company’s CsR activities are expected to create harmonious interactions between the Company and surrounding communities and stakeholders in order to improve the quality of life of the community.

The Company supports environmental-related government programs by continuing to reduce the environmental impacts of its operations. The implementation of the Company’s responsibility program towards the environment among others carried out through:a. Energy, water and electricity savings in the office

environment;b. The implementation of paperless programs through

reusable use of paper for photocopying and utilization of technology, such as scanning and emails in mailing activities;

c. seeking the use of environmentally friendly materials.

114Tanggung Jawab SoSial PeruSahaan laporan Tahunan 2017

PT ViCToria inSuranCe TbK

CsR Terkait Pengembangan sosial dan KemasyarakatanCsr Towards The social And Community Development

Perseroan senantiasa berupaya memberikan dampak yang positif terhadap masyarakat sekitar. Terkait hal tersebut, Perseroan melaksanakan kegiatan-kegiatan yang terkait dengan sosial kemasyarakatan, seperti bantuan perbaikan sarana ibadah, pemberian sumbangan untuk sekolah, perayaan hari besar keagamaan, menjadi sponsor untuk sejumlah acara yang diselenggarakan masyarakat, bantuan pengadaan alat-alat kebersihan, serta kegiatan penghijauan di lingkungan sekitar.

Penyelenggarakan program CsR terkait pengembangan sosial dan kemasyarakatan di sepanjang tahun 2017 ditunjukkan sebagai berikut.

ProgramProgram

Lokasilocation

Biaya (Rp)expenditure (Rp)

Kunjungan dan santunan ke panti asuhan Yatim DhuafaVisit and Donation to Dhuafa orphanage

Kayumanis, jakarta TimurKayumanis, east jakarta

3,000,000

Kegiatan Donor Darah bekerja sama dengan PmI jakarta.blood Donor Activities Together with PmI jakarta.

jakarta -

Kunjungan dan santunan ke panti Yayasan pelita jiwa & Warga Desa sewan, TengerangVisits and Donation to of Pelita jiwa foundation & People at the sewan Village, Tengerang

Tangerang 4,000,000

The Company always strives to have a positive impact on the surrounding community. In this regard, the Company conducts activities related to social community, such as assistance for religious facilities, donations for schools, religious festivals, sponsorship for public events, hygiene procurement assistance, and reforestation activities in the neighborhood.

The implementation of the CsR programs related to social and community development throughout 2017 is shown below.

115 Corporate SoCial reSponSibility2017 Annual Report


CsR Terkait Ketenagakerjaan, Kesehatan, dan Keselamatan KerjaCsR Towards employment, health, and safety

Perseroan menyadari bahwa sumber daya manusia merupakan salah satu aset penting dalam mendukung kelangsungan produktivitas dan pertumbuhan perusahaan. untuk mendukung hal tersebut, dibutuhkan karyawan yang handal, berintegritas tinggi dan profesional di bidangnya. Dalam mengupayakannya, Perseroan merencanakan dan melaksanakan proses rekrutmen dengan memberikan kesempatan yang sama bagi setiap individu, tanpa membedakan aspek suku bangsa, usia, latar belakang etnis, agama, jenis kelamin, atau karakteristik pribadi lainnya. Perseroan juga melaksanakan pengembangan kompetensi dan pengembangan karir karyawan berdasarkan prinsip keadilan dan kesetaraan, melakukan pemberian remunerasi dan kesejahteraan yang sesuai dengan peraturan terkait ketenagakerjaan, serta menyediakan fasilitas kesehatan dan keselamatan kerja (K3). Perseroan juga menyelenggarakan beberapa acara kebersamaan untuk mempererat hubungan antara pimpinan Perseroan dengan seluruh karyawan.

CsR Terkait nasabahCsR Towards the Customers

Perseroan berkomitmen untuk memelihara hubungan baik dengan pelanggan dalam jangka panjang dengan memperhatikan hak dan kewajiban pelanggan, serta mengungkapkan informasi penting bagi nasabah. Dalam hal ini, Perseroan mengkomunikasikan produk layanan yang diberikan serta mengutamakan pelayanan prima kepada nasabah. Perseroan menindaklanjuti klaim secara tepat dan cepat, sesuai perjanjian yang disepakati oleh Perseroan dan nasabah. Perseroan juga menerima dan menindaklanjuti setiap keluhan nasabah, baik melalui email, telpon, maupun surat, serta melalui sekretaris Perusahaan.

The Company is committed to maintaining good relationships with customers in the long term by taking into account customer rights and obligations, and disclosing important information to the customers. In this regard, the Company communicates the service products provided and prioritizes excellent service to its customers. The Company shall follow up the claim promptly, in accordance with agreements made by the Company and its customers. The Company also receives and follow up upon any customer complaints, either by email, telephone, or mail, and through the Corporate secretary.

The Company realizes that human resources are one of the important assets in supporting the Company’s sustainability of productivity and growth. To support it, the Companye needs employees who are reliable, has high integrity and professional in their field. In its efforts, the Company plans and conducts recruitment processes by providing equal opportunities for individuals, regardless of ethnic, age, ethnic, religious, gender, or other personal characteristics. The Company also undertakes competency development and career development for the employees based on fairness and equality principles, providing remuneration and welfare in accordance with labor related regulations, and providing health and safety (K3) facilities. In addition, the Company held several employee events to strengthen the relationship between the management and all employees.

116Tanggung Jawab SoSial PeruSahaan laporan Tahunan 2017

PT ViCToria inSuranCe TbK

PT Victoria Insurance Tbk

Laporan Keuangan Untuk Tahun-tahun yang Berakhir 31 Desember 2017 dan 2016

PT VICTORIA INSURANCE Tbk

DAFTAR ISI

Halaman

LAPORAN AUDITOR INDEPENDEN

Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan PT Victoria Insurance Tbk Untuk Tahun-tahun yang Berakhir 31 Desember 2017 dan 2016

LAPORAN KEUANGAN – Untuk tahun-tahun yang berakhir 31 Desember 2017 dan 2016

Laporan Posisi Keuangan 1

Laporan Laba Rugi dan Penghasilan Komprehensif Lain 3 Laporan Perubahan Ekuitas 4 Laporan Arus Kas 5

Catatan atas Laporan Keuangan 6

PT VICToRIA InsuRAnCe TbK 51 MANAGEMENT ......premi asuransi bruto sebesar 20,23% atau sebesar...

Documents

Transcript of PT VICToRIA InsuRAnCe TbK 51 MANAGEMENT ......premi asuransi bruto sebesar 20,23% atau sebesar...