Climate Change Data

Environmental Metrics

ESG Focus Areas

• Human Resources
• Customer Satisfaction
• Information Technology
• Risk Management
• Good Corporate Governance

Social Achievements

• Launched Marein Learning Centre (MLC) to improve HR competency in the insurance industry.
• Improved customer satisfaction.
• Provided support facilities and infrastructure to support teaching and learning activities at SDN 1 Srengsen Elementary School and Catur Sakti High School.

Governance Achievements

• Improved Fitch Ratings to BB+ (international).
• Implemented Good Corporate Governance (GCG) in accordance with prevailing laws and regulations.
• Established Governance, Risk Monitoring and Compliance Division.
• Implemented a three lines of defense system for risk management.

Climate Goals & Targets

Environmental Challenges

• Challenging insurance industry conditions and unfavorable monetary economic climate.
• Increased competition in the insurance industry.
• Rapid development of digital information technology.
• Polemic of engineering fee.
• Series of natural disasters leading to increased insurance claims.
• Decline in investment income due to financial volatility.

Mitigation Strategies

• Implemented business strategies to maintain satisfactory performance.
• Improved human resources through MLC.
• Increased customer satisfaction.
• Developed information technology systems.
• Implemented risk management through three lines of defense.
• Improved IT quality and infrastructure to keep up with digitalization.
• Consistent development of human resources using MLC.
• Mitigation of risks through even distribution of business portfolio and high standards for financial ratios.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• The 1st Reinsurance Company (Economic Review Magazine)
• 1st Best Overall – 7th Indonesia Insurance Award (Economic Review Magazine)
• The High Financial Growth in Reinsurance Sector Award (Economic Review Magazine)
• Top 5 Popular Company in Reinsurance Category (Warta Ekonomi Magazine)
• Top Reinsurance Business (News Magazine)
• Best Reinsurance (Media Asuransi Magazine)
• The 1st Reinsurance Digital Brand (Infobank Magazine)
• Best Issuer Reinsurance Industry (Investor Magazine)

Environmental Metrics

ESG Focus Areas

• Good Corporate Governance
• Corporate Social Responsibility
• Risk Management

Social Achievements

• Donated 5,000 food packages to communities affected by Covid-19
• Gardening Day with Marein

Governance Achievements

• Consistently implemented GCG principles
• Received a rating of 1 (very good) from self-assessment of GCG implementation in 2020
• Maintained international rating “BB+” and national rating “AA-” from Fitch Ratings

Climate Goals & Targets

Environmental Challenges

• Global economic downturn due to Covid-19 pandemic
• Increased claims due to Covid-19 pandemic and natural disasters
• Decreased premiums income in the insurance industry
• Increased competitiveness in the reinsurance industry due to POJK No. 39/POJK.05/2020
• Difficulties in marketing insurance products due to Covid-19 restrictions

Mitigation Strategies

• Implemented digital marketing and operational strategies
• Conducted stress tests and budget adjustments
• Developed the main M-Core reinsurance application system and M-Bizz platform
• Implemented a work from home system and cost-saving measures
• Prepared for spin-off of sharia business unit
• Implemented sustainable Compliance and Risk Management
• Developed digital technology to support competitiveness
• Improved the quality of service to customers
• Increased business cooperation with domestic and foreign partners
• Developed employee competencies through seminars and training

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Awards & Recognition

• 1st Best Overall Reinsurance (Digital Brands Awards)
• The Most Innovative Reinsurance Companies in Indonesia (Most Innovative Insurance Companies Award)
• Best Reinsurance 2020 (Best Insurance 2020)

Environmental Metrics

ESG Focus Areas

• Risk Management
• Human Resources
• Good Corporate Governance (GCG)
• Sustainable Finance
• Digitalization
• Social Responsibility

Environmental Achievements

• Planted 750 Mangrove Trees for Bedono Village

Social Achievements

• Distributes Assistance to Cianjur Earthquake Victims
• Various training and development programs for employees and stakeholders.

Governance Achievements

• Improved risk management system
• Implementation of three lines of defense in the Internal Control System
• Established a Whistleblowing System (WBS)
• Achieved a “Very Good” (Rank 1) rating in the GCG implementation self-assessment.
• Updated Board Manual on August 6, 2019
• Updated Risk Monitoring Committee on October 3, 2022
• Updated Audit Committee on June 2, 2021

Climate Goals & Targets

Environmental Challenges

• Geopolitical tensions and the continuation of the Covid-19 pandemic
• High market fluctuations
• Supply chain constraints
• Rising energy and food prices
• High interest rates
• Slowdown in global economic growth
• Decreased consumer purchasing power
• Increased claims due to pandemic and slow economic recovery
• Significant increase in retrocession costs
• Low public knowledge and awareness of the importance of insurance

Mitigation Strategies

• Improved risk analysis through risk management system improvements
• Implemented adaptive policies
• Developed optimal information technology and digitalization
• Improved risk selection
• Improved business portfolio
• Improved HR quality through education and certification
• Improved IT system to facilitate customer service
• Maintained financial soundness
• Increased business acceptance
• Implemented comprehensive risk management

Supply Chain Management

Responsible Procurement

• Policy on the Procurement of Goods and Services

Climate-Related Risks & Opportunities