PT Maskapai Reasuransi Indonesia Tbk (the "Company") was established on June 4, 1953 based on Notarial Deed No. 15 of Anton Frederik Schut a substitute of Meester Karel Eduard Krijgsman, Notary in Jakarta. The deed of establishment was approved by Minister of Justice of Republic of Indonesia in his decree No. J.A5/108/3 dated December 17, 1953 and published in the State Gazette No. 173 dated March 19, 1954 supplement No. 181 dated March 23, 1954. The Company obtained its latest business license from the Directorate General of Domestics Monetary, Ministry of Finance of the Republic of Indonesia in his decree No. Kep-4440/MD/1986 dated July 12, 1986.
Marein is the first national reinsurance company and the first publicly listed reinsurance company in Indonesia. Listing its shares on the Indonesia Stock Exchange (IDX) on 1989. The company has raised its authorized capital on 2015 and at the end of 2017 has successfully managed Right Issue III to strengthening the capital structure.
Marein business activities is conventional and sharia reinsurance. Sharia business unit started from 2006, pursuant to a license issued by the Finance Ministry of the Republic of Indonesia No KEP-075/KM/12/2006 dated August 25, 2006.
The composition of Shareholders as of June 30, 2019 are as follows: PT Graha Sentosa Persada (20.0%), AJB Bumiputera 1912 (14.8%) and Public (65.2%).
In 2007, Marein moved to its new office namely Plaza Marein in Jl. Jend. Sudirman Kav. 76-78, Jakarta 12910, as the Company has been strongly eager to promote excellence service to its customers and partners.
Fitch Ratings Indonesia retained Marein’s rating AA-(idn) for national rating and BB+(int) for international rating on July, 2019.
Marein’s experience in reinsurance business has succeeded in winning numerous awards as follows: Infobank Digital Brand Awards as “1st Best Overall Reinsurance category” from Infobank Magazine, “Best Emiten 2019 of Insurance Sector” from Investor Magazine, and “Best Reinsurance 2019” from Media Asuransi Magazine. Maskapai Reasuransi Indonesia MREI
Vision
Being a reliable, well-known and trusted regional reinsurance company.
Mission
- To support the growth of the insurance industry by providing optimal and mutually beneficial reinsurance services for stakeholders.
- To provide the best customers service by continuously improving the professionalism and quality of our human capital.
- To increase stakeholder value with
sustainable growth through the implementation of proper Risk Management
and Good Corporate Governance. Maskapai Reasuransi Indonesia MREI
PT Maskapai Reasuransi Indonesia Tbk. places great emphasis on the implementation of Good Corporate Governance (GCG) to improve the Company’s performance and protect the shareholders’ interest. In implementing GCG practice, Marein always complies with prevailing rules and regulations, as well as ethics in reinsurance sector.
Good Corporate Governance Implementation
Good Corporate Governance (GCG) constitutes a series of principles and rules by which the Company is managed and controlled to meet the interests of its stakeholders. GCG in Marein is a guideline toward achieving the Company’s goals and creating a more professional working culture.
The GCG implementation also ensures that business activities are constantly run within the corridor as defined by the prevailing regulations, business ethics and best practices. Moreover, GCG can support the realization of a sound and quality business improvement.
Marein conducts its GCG practice in accordance with the applicable regulations and laws, as well as the Company’s Code of Conduct. To make the most of its GCG practice, Marein keeps strengthening its relationships with the stakeholders.
In addition, Marein is continuously strengthening its GCG through the formation of Corporate Governance Committee under the supervision of the Boards of Commissioners. This has been done so as to ensure all the business lines in the company implement the corporate governance principles, which are transparency, responsibility, accountability, independence and fairness.
GCG is embedded in the Company’s daily business activities. This is done so as to boost the Company’s performance more professionally, transparently, effectively and efficiently.
Marein implements GCG principles at all organization levels, including:
- The tasks and responsibilities of members of the Boards of Commissioners and Board of Directors.
- Compliance function.
- Risk management.
- Transparency in financial and non-financial matters.
- The duties of Committees and working units responsible for internal control. Maskapai Reasuransi Indonesia MREI
Life Reinsurance
As the dynamic change in the environment, demographic trends, changes in lifestyle and advancement in the field of medical technology would lead to a new and higher complexity of risks; and this situation leads Marein to continuously develop various products and services. Therefore, Marein is committed in assisting clients to solve their problems, manage their risks and improve their overall efficiency.
Marein gives support and delivers service through the treaty or facultative reinsurance scheme,
for conventional and sharia based individual or group products with the following risks:
TERM LIFE INSURANCE
PERSONAL ACCIDENT INSURANCE
CREDIT LIFE INSURANCE (DECREASING AND FIXED)
CRITICAL ILLNESS INSURANCE
HEALTH INSURANCE
Marein is working with the reinsurance business partners which have a great reputation in international level, making it more flexible and more accommodative in providing reinsurance support to all clients. Maskapai Reasuransi Indonesia MREI
Commemorating MAREIN's 66th Anniversary
It has been 66 years of PT Maskapai Reasuransi Indonesian Tbk. (Marein) contribution to the Indonesian insurance industry. For the beginning of the Marein’s anniversary celebration, on Wednesday (17/06) at MLC Lounge, Marein held a thanksgiving and halal bihalal after the Eid al-Fitr. The event was attended by the Board of Commissioners, Directors, Advisors, Committees, Actuaries, and Marein employees.
In Marein’s President Director speech, Mr. Robby Loho expressed his gratitude towards the Company’s performance in 2018 and gave motivation for employees to keep the achievement amid the challenges facing the industry. In addition, in terms of human resources, the Company’s need regeneration for the sake of the Company's business development even greater than before.
Mr. Sarkoro Handajani as the President Commissioner who was attending the event also added statement, which in this competitive era, as individuals at any level, we are required to show the best performance. “Who works harder, he/she will enjoy the result,” said Mr. Sarkoro. Maskapai Reasuransi Indonesia MREI
MLC Held Underwriting Life Insurance Training
Underwriter has an important role in the process of risk identification and selection (underwriting). Underwriting process is vital because after risk identification is completed, the underwriter will classify prospective insured into categories such as: decline risk, substandard risk, standard risk, and preferred risk. The purpose of the underwriting process is for prospective insured to get a premium expense in line with their risk thus creating fairness in charging premiums for ceding and customers.
Hence, MLC held an
underwriting training for intermediate level on June 18-19, 2019 at MLC
Lounge. Training that was attended by 72 participants from the ceding
companies, was intended to improve their skills and develop the
professionalism of underwriters. The follow-up training was arranged
very fascinating and insightful by Senior Advisor Marein, dr. Hendra
Budiman and dr. Margareta Zenitha which provides a comprehensive event
to confront the policy, discussion of medical cases that are commonly
handled. Maskapai Reasuransi Indonesia MREI
Marein Welcoming More Than 80 Business Partners in the Underwriter Gathering Event
In order to strengthen business relationship, Marein held an underwriter gathering which was arranged in the form of Halal Bihalal and Seminar on critical illness. The event took place at MLC Lounge, Jakarta on Tuesday (02/07) was festive and attended by financial service industry from both general insurance companies and broker insurance companies.
Mr. Robby Loho, Marein’s President Director said, "Eventhough the industrial growth moving slowly compared to the banking industry, Marein believes that every company that present today will keep growing positively in the next quarter, it is expected to have a good impact on increasing premiums to Marein."
"It is to be hoped that we as business partner will support mutually to achieve our target and profitable to all stakeholders,” added Ms. Trinita Situmeang, Director of General Reinsurance.
The event was ended with lunch and social meeting.
After
listening to the speech from the Board of Directors, Board of
Commissioners, and Advisors, the program continued with slicing tumpeng
and birthday cake, and having lunch together. Maskapai Reasuransi Indonesia MREI
MLC held a Sharing Session: Marine Insurance Outlook
MLC held a sharing session about "Marine Insurance Outlook" on August 8, 2019 at MLC Lounge, Plaza Marein. The speakers were Mr. Ai Ping, Chan from Aon Benfield Singapore and Mr. David Mitchell from Aon Benfield London. The topic of discussion was Marine Market Overview, Marine Reinsurance Renewals, Cyber Attack, Sanctions, and Reinsurance Market Approach.
The speaker presented about the Hull
market conditions that have increased claims and large risk losses, also
how the risk of cyber attacks will affect this business. This sharing
session was attended by Marein's internal parties from the Technical -
General Reinsurance division, with the aim of providing insights how to
face the challenge in the Marine Insurance business in the future and
opportunities that can be utilized by reinsurance companies. Maskapai Reasuransi Indonesia MREI
Commemorating Marein 67th Anniversary Virtually
Marein has been established for 67 years and become the first and the only reinsurance company listed on the Indonesia Stock Exchange. While facing the Covid-19 pandemic, on June 4, 2020, Marein celebrated its 67th anniversary virtually, attended by the Board of Commissioners, Advisors, Board of Directors and Employees. This momentum used as an informal gathering among Marein employees who have been working from home for about 3 months.
The Board of Commissioners and Directors said that Marein employees must stay optimistic, eager to work harder, and expectantly this crisis will be overcome soon.
Besides, "In the midst of the Covid-19 pandemic situation that happened around the world, Marein continued to strive the best services to Ceding and the business operations keep running well. On this concerning situation, we work together for both the Company and the insurance industry and Marein employees can make a positive contribution," said Mr. Robby Loho, President Director of Marein.
Happy 67th Anniversary
Marein, it is hoped that we continually provide the best services and
extraordinary contributions to the insurance industry. Maskapai Reasuransi Indonesia MREI
Plaza Marein 18th Floor
Jl. Jend. Sudirman Kav. 76-78
Jakarta Selatan 12910
+6221 579 36588 (H)
cosec@marein-re.com
www.marein-re.com
