Sponsor Detail

PT Jasa Raharja—hereinafter referred to as Jasa Raharja or the Company—was established on 1 January 1960 following the enactment of Law No. 19 PRP of 1960 concerning State Enterprises, in which all capital is owned by the State of the Republic of Indonesia. The establishment of Jasa Raharja is closely linked to the Government’s policy of nationalizing Dutch-owned companies as stipulated in Law No. 86 of 1958 on the Nationalization of Dutch Enterprises.

As stated in the Articles of Association of PT Jasa Raharja, Article 3 paragraphs 1 and 2, the Company’s line of business is Social Insurance. The purpose and objectives of the Company include supporting and contributing to Government programs in the fields of economic development, social security, and national development in general—particularly in the area of loss insurance—by administering social insurance programs and optimizing the utilization of the Company’s resources to deliver high-quality, competitive services that enhance corporate value in accordance with the principles of a Limited Liability Company.

The Company’s business activities include the following:

1. Administering passenger accident insurance for public transportation in accordance with Law No. 33 of 1964 and its implementing regulations, as well as legal liability insurance for third parties in accordance with Law No. 34 of 1964 and its implementing regulations;

2. Entering into motor vehicle insurance agreements and legal liability insurance agreements for third parties in relation to transportation accidents;

3. Accepting indirect insurance coverage to be retained by the Company; and

4. Conducting investment activities in compliance with applicable laws and regulations.

In addition to the main business activities above, the Company may also conduct other business activities aimed at optimizing the utilization of its resources, provided they comply with prevailing laws and regulations.

However, following the issuance of Government Regulation of the Republic of Indonesia No. 73 of 1992 concerning the Operation of Insurance Business, particularly Article 33—which states that Insurance Companies administering Social Insurance are prohibited from administering any insurance programs other than Social Insurance Programs—and Article 34—which states that Insurance Companies administering Social Insurance Programs must comply with the provisions of this Government Regulation and its implementing regulations—the Company now operates solely in the field of Social Insurance.