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Rule · OJK · 25 Nov 2013 · 17/SEOJK.05/2013

OJK Circular Letter No. 17/SEOJK.05/2013 on Monthly Reports of PT Askes (Persero)

disclosure

PT Askes (Persero) is required to submit monthly financial reports to the Otoritas Jasa Keuangan (OJK) by the 10th of the following month, with submissions made online via the OJK data communication system or email, or offline via direct delivery or registered mail. The document establishes a three-tier administrative sanction regime for non-compliance, where each successive written warning grants a 30-day period to fulfill the reporting obligation. For the year 2013, PT Askes (Persero) must submit reports for October and November by the end of the subsequent month. The circular mandates the use of specific standardized formats for the balance sheet, income statement, cash flow statement, solvency report, and asset-liability maturity analysis.

IndonesiaOtoritas Jasa Keuangan (Financial Services Authority)

To:
PT Askes (Persero)
Attn.

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY NUMBER 17/SEOJK.05/2013

REGARDING
MONTHLY REPORTS OF PT ASKES (PERSERO)

In connection with Financial Services Authority Regulation Number 3/POJK.05/2013 dated 12 September 2013 regarding Monthly Reports of Non-Bank Financial Service Institutions (State Gazette of the Republic of Indonesia Year 2013 Number 150, Supplement to the State Gazette of the Republic of Indonesia Number 5443), it is necessary to regulate implementation provisions regarding the monthly reports of PT Askes (Persero) in this Circular Letter of the Financial Services Authority as follows:

I. GENERAL PROVISIONS

  1. The Financial Services Authority, hereinafter abbreviated as OJK, is an independent institution free from the interference of other parties, which has the functions, duties, and authorities of regulation, supervision, examination, and investigation, as referred to in Law Number 21 of 2011 concerning the Financial Services Authority.

  2. Monthly Report is a financial report prepared by non-bank financial service institutions for the benefit of the OJK, which covers the period from the 1st to the end of the current month and is submitted according to the format and procedures determined by the OJK.

II. FORM AND STRUCTURE OF MONTHLY REPORTS

The form and structure of monthly reports for PT Askes (Persero) are as set forth in the Appendix which is an inseparable part of this OJK Circular Letter.

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III. TIME FOR SUBMISSION OF MONTHLY REPORTS

  1. PT Askes (Persero) is obligated to submit Monthly Reports to the OJK no later than the 10th of the following month.

  2. In the event that the 10th date as referred to in item 1 falls on a holiday, the Monthly Report must be submitted on the next working day.

IV. SUBMISSION PROCEDURES

  1. Submission of Monthly Reports is conducted online through the OJK data communication network system.

  2. In the event that the OJK data communication network system is not yet available, Monthly Reports are submitted online via the company's official email by attaching a softcopy of the monthly report in spreadsheet format to LB.ASOS@ojk.go.id.

  3. In the event that Monthly Reports are submitted offline, submission is conducted via a letter signed by the Board of Directors and addressed to:
    Financial Services Authority u.p. Director of Insurance Supervision Sumitro Djojohadikusumo Building, 14th Floor Jl. Lapangan Banteng Timur Number 2-4 Jakarta 10710

  4. Submission of Monthly Reports offline as referred to in item 3 may be done in one of the following ways:
    a. handed in directly to the OJK office; b. sent via the post office by registered mail; or
    c. sent via a courier/courier service company.

  5. PT Askes (Persero) is deemed to have submitted the Monthly Report with the following provisions:
    a. for submission online via email, proven by an email receipt from the OJK, b. for offline submission, proven by:
    1) a receipt letter from the OJK, if the report is handed in directly to the OJK office; or
    2) a shipping receipt from the post office or courier/courier service company, if the report is sent via the post office or courier/courier service company.

  6. In the event of changes to the OJK email address as referred to in item 2 and/or changes to the OJK office address as referred to in item 3, the OJK will convey the address changes via letter or announcement.

V. SANCTION PROVISIONS

  1. The OJK establishes administrative sanctions in the form of a first written warning as regulated in Article 6 paragraph (3) of OJK Regulation Number 3/POJK.05/2013 regarding Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a first written warning.

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  1. If within the period as referred to in item 1 the obligation to submit Monthly Reports has not been fulfilled, the OJK establishes administrative sanctions in the form of a second written warning as regulated in Article 6 paragraph (4) of OJK Regulation Number 3/POJK.05/2013 regarding Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a second written warning.

  2. If within the period as referred to in item 2 the obligation to submit Monthly Reports has not been fulfilled, the OJK establishes administrative sanctions in the form of a third written warning as regulated in Article 6 paragraph (4) of OJK Regulation Number 3/POJK.05/2013 regarding Monthly Reports of Non-Bank Financial Service Institutions, with a deadline for fulfilling the obligation to submit Monthly Reports of no more than 30 (thirty) days from the establishment of the administrative sanction in the form of a third written warning.

VI. TRANSITIONAL PROVISIONS

  1. PT Askes (Persero) is obligated to submit Monthly Reports to the OJK for the year 2013 period, namely only for October 2013 and November 2013, no later than the end of the following month.

  2. In the event that the end of the following month as referred to in item 1 falls on a holiday, the Monthly Report must be submitted on the next working day.

VII. CLOSING

This Circular Letter of the Financial Services Authority takes effect on the date of establishment. To ensure that everyone knows it, it orders the announcement of this Circular Letter of the Financial Services Authority by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR
FINANCIAL SERVICES AUTHORITY,
FIRDAUS DJAELANI

Copy in accordance with the original Head of Legal Assistance Division Directorate of Law Signed, Mufli Asmawidjaja

APPENDIX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY NUMBER 17/SEOJK.05/2013 REGARDING MONTHLY REPORTS OF PT ASKES (PERSERO)

To:
Financial Services Authority
Up. Directorate of Insurance Supervision Sumitro Djojohadikusumo Building, 14th Floor Jl. Lapangan Banteng Timur 1 - 4 Jakarta - 10710

MONTHLY REPORT
PT ASKES (PERSERO)
For …………./ Month ………. Year ………..
(Company Address)

(in millions of rupiah)

DescriptionBalance SAKBalance SAP
ASSETS
Investments
Time Deposits and Certificates of Deposit--
Stocks--
Corporate Bonds and Corporate Sukuk--
Securities Issued by the RI State--
Securities Issued by States Other than the RI State--
Securities Issued by Bank Indonesia--
Securities Issued by Multinational Institutions--
Mutual Funds--
Asset-Backed Securities Collective Investment Contracts--
Real Estate Investment Funds--
Direct Investments--
Buildings with Strata Rights or Land with Buildings for Investment--
Purchase of Receivables for Financing Companies and/or Banks--
Pure Gold--
Loans Secured by Mortgage Rights--
Other Investments--
Total Investments--
Non-Investments
Cash and Banks--
Direct Underwriting Premium Receivables--
Coinsurance Claim Receivables--
Reinsurance Receivables--
Investment Receivables--
Investment Income Receivables--
Buildings with Strata Rights or Land with Buildings for Own Use--
Other Fixed Assets--
Other Assets--
Total Non-Investments--
TOTAL ASSETS--
LIABILITIES AND EQUITY
Liabilities
Payables
Claim Payables--
Coinsurance Payables--
Reinsurance Payables--
Commission Payables--
Tax Payables--
Accrued Expenses--
Other Payables--
Total Payables--
Technical Reserves
Premium Reserves--
Reserves for Premiums Not Yet Earned Revenue--
Claim Reserves--
Total Technical Reserves--
Total Liabilities--
Subordinated Loans--
Equity
Paid-up Capital--
Share Premium--
Retained Earnings--
Other Equity Components--
Valuation Difference Based on SAK and SAP--
Assets Not Included in AYD--
Total Equity--
TOTAL LIABILITIES AND EQUITY--

Month … Year …
PT ASKES (PERSERO)
FINANCIAL POSITION REPORT
Non-Consolidated
For ….

(in millions of rupiah)

DescriptionMonth … Year …
UNDERWRITING INCOME
Gross Premiums
a. Direct Underwriting Premiums
b. Indirect Underwriting Premiums
c. Commissions Paid
Total Gross Premiums-
Reinsurance Premiums
a. Reinsurance Premiums Paid
b. Reinsurance Commissions Received
Total Reinsurance Premiums-
Net Premiums-
Decrease (Increase) in Premium Reserves and CAPYBMP
a. Decrease (Increase) in Premium Reserves
b. Decrease (Increase) in CAPYBMP
Decrease (Increase) in Premium Reserves and CAPYBMP-
Total Net Premium Income-
Other Net Underwriting Income
UNDERWRITING INCOME-
UNDERWRITING EXPENSES
Claim Expenses
a. Gross Claims
b. Reinsurance Claims
c. Increase (Decrease) in Claim Reserves
Total Net Claim Expenses-
Other Net Underwriting Expenses
TOTAL UNDERWRITING EXPENSES-
UNDERWRITING RESULT-
Investment Results
Operating Expenses:
a. Marketing Expenses
b. General and Administrative Expenses:
- Employee and Management Expenses
- Education and Training Expenses
- Other General and Administrative Expenses
Total Operating Expenses-
INSURANCE OPERATING PROFIT (LOSS)-
Other (Expenses) Income
PROFIT (LOSS) BEFORE TAX-
Income Tax
PROFIT AFTER TAX-
Other Comprehensive Income
TOTAL COMPREHENSIVE PROFIT (LOSS)-

PT ASKES (PERSERO)
COMPREHENSIVE INCOME STATEMENT
For ….

(in millions of rupiah)

DescriptionMonth … Year …
BEGINNING BALANCE OF CASH AND BANKS
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Inflows
a. Premiums
b. Coinsurance Claims
c. Reinsurance Claims
d. Commissions
e. Receivables
f. Others
Total Cash Inflows-
Cash Outflows
a. Reinsurance Premiums
b. Claims
c. Commissions
d. Expenses
e. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM OPERATING ACTIVITIES-
CASH FLOWS FROM INVESTMENT ACTIVITIES
Cash Inflows
a. Investment Income Receipts
b. Investment Withdrawals
c. Sale of Fixed Assets
d. Others
Total Cash Inflows-
Cash Outflows
a. Investment Placements
b. Purchase of Fixed Assets
c. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM INVESTMENT ACTIVITIES-
CASH FLOWS FROM FINANCING ACTIVITIES
Cash Inflows
a. Subordinated Loans
b. Capital Deposits
c. Others
Total Cash Inflows-
Cash Outflows
a. Dividend Payments
b. Subordinated Loan Payments
c. Others
Total Cash Outflows-
TOTAL CASH FLOWS FROM FINANCING ACTIVITIES-
ENDING BALANCE OF CASH AND BANKS-

PT ASKES (PERSERO)
CASH FLOW STATEMENT
For ….

(in millions of rupiah)

DescriptionMonth … Year …
Solvency Ratio
Permitted Assets-
Liabilities (excluding Subordinated Loans)-
Total Solvency Ratio-
Risk-Based Minimum Capital (MMBR)
Schedule A
Schedule B
Schedule C
Schedule D
Schedule E
Schedule F
Schedule G
Total MMBR-
Excess (Deficiency) of Solvency Ratio Limit-
Solvency Achievement Ratio (in %)1) #DIV/0!
1) Total Solvency Ratio divided by Total MMBR
In the event the Company experiences a solvency deficiency, the amount of funds needed to reach a 100.00% RBC ratio
120.00%

PT ASKES (PERSERO)
SOLVENCY RATIO REPORT
Solvency Achievement Ratio
For ….

Rupiah 3)Valas 3)TotalRupiah 3)Valas 3)TotalRupiah 3)Valas 3)Total
≤ 1 year#DIV/0!#DIV/0!#DIV/0!
1 year < age ≤ 5 years#DIV/0!#DIV/0!#DIV/0!
5 years < age ≤ 10 years#DIV/0!#DIV/0!#DIV/0!
> 10 years#DIV/0!#DIV/0!#DIV/0!
Total#DIV/0!
Rupiah 2)Valas 2)Total 2)
Notes:
1) In millions of rupiah
2) In percentage
3) Already converted to Rupiah currency
Current assets/liabilities are assets/liabilities with an age of less than 1 year up to 1 year
Non-current assets/liabilities are assets/liabilities with an age of more than 1 year

Signed,
Directorate of Law

Signed,
FIRDAUS DJAELANI
Mufli Asmawidjaja

Established in Jakarta on 25 November 2013

EXECUTIVE HEAD OF IKNB SUPERVISOR
FINANCIAL SERVICES AUTHORITY

Copy in accordance with the original Head of Legal Assistance Division

Description
Ratio of Current Assets to Non-Current Assets
Ratio of Current Liabilities to Non-Current Liabilities

PT ASKES (PERSERO)
ASSET AND LIABILITY MATCHING ANALYSIS REPORT For … / Month … Year …

Asset Age 1)Liabilities 1)Ratio of Assets to Liabilities 2)
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Undang-Undang Nomor 21 Tahun 2011tentang Otoritas Jasa Keuangan (L…2011 · ID-LAWUndang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan (Law No. 21 of 2011 on the Financial Services Authority) (2011-11-22)OJK Circular Letter No.17/SEOJK.05/2013 on Monthly R…2013-11-25 · this documentOJK Circular Letter No. 17/SEOJK.05/2013 on Monthly Reports of PT Askes (Persero) (2013-11-25)
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