scholarly journals Analysis of the cause of loss of PT. Asuransi Jiwasraya (Persero)

2020 ◽  
Vol 17 (4) ◽  
pp. 199-206
Author(s):  
Girang Permata Gusti
Keyword(s):  
Financial Statements ◽  
Insurance Companies ◽  
Investment Fund ◽  
Insurance Company ◽  
Financial Problems ◽  
Investment Funds ◽  
Descriptive Research ◽  
Stock Investment ◽  
Insurance Payment

Research purposes – to analyse the causes of losses faced by PT. Asuransi Jiwasraya and review in more detail, what are the factors of the cause of the financial problems faced by Jiwasraya, so that the company has stood for 160 years With assets in the year 2017 of 45 trillion rupiah, a sudden loss of 13 trillion rupiah with a debt of 49 trillion rupiah in 2019.Design / Methodology / Approach – This research uses descriptive research method, which aims to explain a phenomenon or event systematically and as it is, this research was conducted to obtain information about the previous situation and the current situation to be analyzed so that the core of the problem that causes the research can be found. This study uses a case study model that occurred at PT. Asuransi Jiwasraya, which is experiencing financial problems due to mismanagement and misplacement of customers 'investment funds, has caused it to be unable to return investment funds and pay customers' investment interest.Finding – (1) Management's mistake in placing the customer's investment fund is the main cause of insurance payment to the customer. (2) JS Saving is a not unit link investment where the risk is entirely borne by the insurance company. The lure of a High Return JS Saving Plan is offered with a guaranteed return of 9 percent to 13 percent from 2013 to 2018 with a disbursement period every year. (3) Jiwasraya manipulates its financial statements so that they can look good to investors. (4) Management is too aggressive in investing to pursue the company's profit targets and target payment obligations to all customers who buy investment products.Research limitations – This research is limited to cases that occur in the insurance company Jiwasraya, with no comparison with other insurance companies or other investment companies.Originality/value – The authenticity of the analysis and observation to obtain valid and accountable data, the results are used to find the main cause of the losses that occur at the insurance company under study. Keywords: Jiwasraya Insurance; Stock Investment; Mismanagement

scholarly journals PENGARUH DANA INVESTASI TERHADAP PENDAPATAN KONTRIBUSI (Studi pada Perusahaan Asuransi Jiwa Syariah Yang Terdaftar di Otoritas Jasa Keuangan Periode 2016-2018)

2020 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Hanafi Hanafi ◽  
Reviyanti Reviyanti
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Degrees Of Freedom ◽  
Secondary Data ◽  
Insurance Companies ◽  
Coefficient Of Determination ◽  
Investment Fund ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Investment Funds

From the financial data contained in the tabel, visible that the investment fund to the revenue contribution on the company�s insurance sharia in Indonesia from 2016-2018 years development experience fluctuating. This study was conducted to test how much influence the investement fund to the revenue contribution of the company�s insurance sharia in Indonesia with the object of research is a life insurance company sharia which are listed on the financial services authority (OJK). Of the sampel used as many as 10 life insurance companies sharian that meet the criteria of the sample period of this research is from year 2016 to 2018 The method used in this method is a quantitative method that uses the classical aasumption test, test hypotheses, and test the coefficient of determination. the data used is secondary data obtained from official company website life insurance sharia in Indonesia. Analysis tools in this study showed a simple regression analysis involving one independent variable as a predictor of the magnitude of the predicted value of the dependen variable. The statistical analysis used was software namely SPSS Version 16.0. The results showed that the independent variables of investment funds there is a significant influence on the revenue contribution, the results of this in view of the valie of the tinag amounted to 11.513 while the value of ttable obtained from the distribution table was sought at the significance of 5% degrees of freedom (df) n-k-l or 30-1-1 = 28 then obtained a ttable of 2.04841 Therefore tinag> ttable = 11.513 > 2.04841 and significant level 0.000, because the significance value is less than 0.05, it can be concluded that H0 is rejected and Ha is accepted. The relationship between funds investment revenue contributions categorized strong and the magnitutude of the influence of investment funds on accounted for 82.6% while the remaining 17.4% is influenced by other variables not examited. The hypothesis proposed in this study is Ho is rejected and Ha accepeted. It means that investment funds are significaltly positive effect on revenue contribution.

scholarly journals FORMULATION TECHNIQUES OF ORGANIZATIONAL STRATEGIES IN JAKARTA (CASE STUDY: INSURANCE COMPANIES IN JAKARTA)

2021 ◽  
Vol 1 (1) ◽  
pp. 11
Author(s):  
Ian Nurpatria Suryawan ◽  
Yulisnada Yulisnada ◽  
Denyus Mardony ◽  
Jefri Lukito
Keyword(s):  
Negative Impact ◽  
Organizational Factors ◽  
Strategy Management ◽  
Insurance Companies ◽  
Insurance Company ◽  
Organizational Strategies ◽  
Strategy Formulation ◽  
Descriptive Research ◽  
Qualitative Descriptive

<p>Strategy becomes important for every organization to win competition through changes in internal and external environmental factors. Strategy requires strength, effort and good analysis to anticipate each challenge. Pearce and Robinson explain the stages of strategy management that produce strategy formulation techniques so that the strategies made by the organization are directed and correct. The method used in this research is discussion of qualitative descriptive research through proof of research that has been carried out by previous researchers regarding strategy. The results is business competitions in insurance products nowadays need to be responded by providing the best possible service therefore the insurance products are increasingly demanded by customers in this globalization era which is marked by rapid positive and negative impact on the organization. Thus, it is necessary to be careful in managing every organizational resources, not only focusing on internal organizational factors, but also external factors by utilizing any opportunities or threats that affect the organization both directly and indirectly. The CEOs of insurance company require to make analysis and formulation techniques to apply strategies in the form of winning competition and creating competitive advantage.</p>

scholarly journals Multiple Attribute Decision Making (MADM) in Proportional-Stop-Loss Reinsurance

2017 ◽  
Author(s):  
Jiexuan Wang
Keyword(s):  
Decision Making ◽  
Selection Process ◽  
Multiple Attribute Decision Making ◽  
Simulation Software ◽  
Insurance Companies ◽  
Insurance Company ◽  
Multiple Attribute ◽  
Study Results ◽  
Stop Loss

This article addresses reinsurance decision making process, which involves the insurance company and the reinsurance company, and is negotiated through reinsurance intermediaries. The article proposes a decision flow to model the reinsurance design and selection process. In contrast to existing literature on pure proportional reinsurance or stop-loss reinsurance, this article focuses on the combination into Proportional-Stop-loss reinsurance design which better addresses interest of both parties. In terms of methodology, the significant contribution of the study is to incorporate Multiple Attribute Decision Making (MADM) into modelling the reinsurance selection. The Multi-Objective Decision Making (MODM) model is applied in designing reinsurance alternatives. Then MADM is applied to aid insurance companies in choosing the most appropriate reinsurance contract. To illustrate the feasibility of incorporating intelligent decision supporting system in reinsurance market, the study includes a numerical case study using simulation software @Risk in modeling insurance claims, and programming in MATLAB to realize MADM. Managerial implications could be drawn from the case study results. More specifically, when choosing the most appropriate reinsurance, insurance companies should base their decision on multiple measurements instead of single-criteria decision making models for their decisions to be more robust.

scholarly journals Kesesuaian Operasional Produk Asuransi Syariah dengan Fatwa DSN MUI No:21/DSN-MUI/X/2001 (Studi Kasus AJB Bumiputera 1912 Cabang Surabaya)

2015 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Rian Rahmat Hidayat ◽  
Irham Zaki
Keyword(s):  
Rapid Development ◽  
Secondary Data ◽  
Primary Data ◽  
Insurance Company ◽  
Investment Funds ◽  
Wide Range ◽  
Qualitative Descriptive ◽  
Using Data ◽  
Made In

Sharia insurance in Indonesia has experienced a fairly rapid development since the promulgation of MUI fatwa number:21/DSN-MUI/X/2001 about sharia insurance. However, that is still questionable is does the sharia insurance company really run the product operational based on MUI fatwa.This study aims to determine whether product operational of sharia insurance of AJB Bumiputera1912 is in conformity with the sharia rules to follow six indicator akkad, premi, claims, investment, reinsurance, and management of the fund from MUI fatwa or not.The research method is used is a case study with a qualitative descriptive approach. The data used in this study is that the data derived from primary data obtained from fieldwork and secondary data derived from the literature and a wide range of written document. This study using data derived from the management of sharia insurance AJB Bumiputera 1912 in the branch of Surabaya and sharia insurance participants of AJB Bumiputera 1912.The results of this research is operational products of sharia insurance of AJB Bumiputera 1912 were in accordance with Indonesian Ulama Council fatwa DSN Number:21/DSNMUI/X/2001. The suitability reflected from the existence of akkad tabarru’ and akkad tijarah as investment funds (mudharabah), management of premium funds based on sharia, claims fund based on first contract, investment made in accordance with the mandate of participants, then reinsurance process done only to sharia-based reinsurance company.

scholarly journals Determinants of corporate performance: Empirical evidence from the insurance companies listed on Abu Dhabi securities exchange (ADX)

Accounting ◽  
2021 ◽  
pp. 143-150
Author(s):  
Abdullah AL-Mutairi ◽  
Hani Naser ◽  
Kamal Naser
Keyword(s):  
Word Of Mouth ◽  
Financial Statements ◽  
Bad News ◽  
Abu Dhabi ◽  
Insurance Companies ◽  
Panel Regression ◽  
Insurance Company ◽  
Good Image ◽  
Gcc Countries ◽  
Positive Factor

The purpose of this study is to identify factors that impact the performances of the insurance companies listed on ADX. Factors employed in this study include liquidity, general and administration expenses, risk, size, tangibility and age. The annual financial statements of all seventeen insurance companies listed on ADX covering the period 2013-2019 were sampled and analyzed through a panel regression. The analysis indicates that corporate age is the most significant positive factor that determine the profitability of the insurance companies listed on ADX. The durability of the insurance company in the GCC countries suggests that the firm has created good image, attract more customers, increased revenues to cover expenses and make profit. Thus, age is an important positive factor of the performance of insurance companies listed on ADX. Moreover, it is obvious that dissatisfied customer with the service of an insurance company will not only cease dealing with it, they deliver bad news about it by using the word of mouth and the powerful social media that play efficient role in formulating the image about the company. The outcome of this study might help investors in formulating their decision to invest in an insurance company. For instance, it helps them to focus on the age of the insurance company before they make their decision.

scholarly journals CAPITAL STRUCTURE ANALYSIS TO OPTIMIZE THE PROFITABILITY OF MSMES (CASE STUDY ON MSMES HIKMAH IN SIDOARJO, EAST JAVA, INDONESIA)

2019 ◽  
Vol 1 (2) ◽  
pp. 241-250
Author(s):  
Danur Ramadhani ◽  
Agus Sukoco ◽  
Joko Suyono
Keyword(s):  
Capital Structure ◽  
Cost Of Capital ◽  
Weighted Average ◽  
Financial Statements ◽  
Business Owners ◽  
Optimal Capital Structure ◽  
Descriptive Research ◽  
The Cost ◽  
The Capital Structure

This study aims to analyze the capital structure used to optimize profitability in MSME embroidery shoes. This study uses descriptive research with a qualitative approach. The analytical method is used Weighted Average Cost Of Capital (WACC). The techniques of data collection in this research used interview, observation, documentation and triangulation methods. The data that used are financial transaction records and financial statements issued by the company itself. The results showed that UD. Hikmah used the composition of the capital structure consisting of debt of 20%, 80% own capital with a ROE rate of 170%. Optimization results obtained the optimal capital structure composition on the composition of debt 23% and own capital 77%. By generating a level of profitability that can provide a favorable return for business owners, with the highest calculation of ROE that is equal to 173% and the cost of capital to be borne is Rp.18.238.000 every year.

scholarly journals The Effect of Premium on Profit of Life Insurance Companies in Sharia Units of Pt Panin Dai-Ichi Life Indonesia

2019 ◽  
Vol 3 (2) ◽  
Author(s):  
Ridwan Tabe
Keyword(s):  
Life Insurance ◽  
Hypothesis Test ◽  
Financial Statements ◽  
Insurance Companies ◽  
Insurance Company ◽  
Simple Linear Regression ◽  
Life Insurance Company ◽  
Analysis Techniques ◽  
Normality Test ◽  
Anova Table

Abstract:This study discusses the effect of premiums on life insurance company profits in Sharia Unit of PT Panin Dai-Ichi Life Indonesia's. The main problem is the effect of premiums on profits of Life Insurance companies in Sharia Unit of PT Panin Dai-Ichi Life Indonesia from 2012-2016.The type of research method is quantitative. The population in this study is financial statements from PT Panin dai-Ichi Life Indonesia, while the sample is financial statements from 2012 - 2016. Data analysis techniques used in this study are normality test, hypothesis test, and T test using simple linear regression analysis.The results of this study concluded that the premium has an effect on profit where the value of T count - 4.366 <from the value of T table l2.101. While the significance is 0,000 smaller than 0.05 and for the value of F count is 19,067 > 4.41 F table. The significance of anova table 0.000 is smaller than 0.05, so Ho is rejected and Ha is accepted. It means that, there is a significant effect of premium on profit.Keywords: Premium, Profit, Life Insurance

Asset Structure and Solvency of Insurance Companies in China with Path Identification Model

2015 ◽  
Vol 19 (3) ◽  
pp. 465-473
Author(s):  
Bing Xu ◽  
◽  
Lingling Pan ◽  
Jingwen Yang
Keyword(s):  
Insurance Companies ◽  
Risk Exposure ◽  
Insurance Company ◽  
Stock Investment ◽  
High Quantiles ◽  
Time Deposit ◽  
Investment Structure ◽  
Weighted Kernel ◽  
The Impact ◽  
Identification Model

Based on weighted kernel density estimation and the nonparametric path identification model, this paper explores the impact of asset structure on solvency and risk exposure by insurance companies. To test the differences in solvency and risk exposure of admitted assets under stock and time deposit investment paths, we compared distributions under different investment paths to benchmark distribution. Our results suggest that both stock and time deposit investment impact positively on solvency, meaning that, all other things being equal, solvency increases when investment assets are expanded but risk increases simultaneously. The impact of stock investment is also greater than that of time deposit investment. The extent of these differences increased gradually over the year under the stock investment path, but reduced under the time deposit investment. Under the stock investment path, the value of the high quantiles of the distribution are likely to shift from that of low quantiles. Expected value and risk exposure under time deposit investment are not necessarily reduced, so regulators should both emphasize solvency indicators in daily supervision and also take into account changes in the investment structure, improve how admissible assets are calculated in case the insurance company increases the solvency margin by expanding high-risk investment.

scholarly journals Review and ranking the private insurance companies in Iran based on TOPSIS model

2016 ◽  
Vol 4 (2) ◽  
pp. 120 ◽  
Author(s):  
Leila Asadi ◽  
Ali Esmaeilzadeh Moghri
Keyword(s):  
Performance Index ◽  
Private Insurance ◽  
Financial Statements ◽  
Insurance Companies ◽  
Insurance Company ◽  
Financial Indicators ◽  
Performance Indexes ◽  
Strong Performance ◽  
Proper Performance ◽  
Topsis Model

Insurance companies are the most important economic institutions in each country and they support other economic entities. Their proper performance play an important role in the booming the economy. Insurance companies to achieve effective and strong performance should be familiar with performance of competitors and themselves and according to their information take necessary measures. For this purpose, the current study aims to rank the private insurance companies. In this regard, financial and non-financial indicators as well as performance index for 17 private insurance companies are extracted over 4 years (2011 to 2014) based on their financial statements. The weight of each index was determined using the Shannon entropy. Then, insurance companies were ranked using TOPSIS. The results showed that based on financial indicators, Arman insurance company in 2011 and 2012 had the optimal performance from the standpoint of the criteria (1st). In the years, 2013 and 2014 Kosar insurance Company and Mihan insurance companies were at the 1st place. In addition, Alborz insurance Company had a good performance in terms of performance indexes in 2011 and 2013, (1st). In the years 2012 and 2014, Parsian and Pasargad Insurance Companies ranked 1st. Based on non-financial indicators, Asia insurance company in the period under review (2011 to 2014) ranked in the first place.

scholarly journals Analysis of the efficiency of financial institutions in Serbia based on the OCRA method

Tehnika ◽  
2021 ◽  
Vol 76 (1) ◽  
pp. 103-111
Author(s):  
Radojko Lukić
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Significant Role ◽  
Pension Fund ◽  
Insurance Companies ◽  
Investment Fund ◽  
Fund Management ◽  
Investment Funds ◽  
Financial Leasing ◽  
Pension Fund Management

Recently, as is well known, the performance and efficiency of financial institutions are increasingly being measured on the basis of multi-criteria analysis. With this in mind, this paper analyzes the efficiency of financial institutions in Serbia based on the OCRA method. In this context, adequate measures have been proposed to improve the efficiency of financial institutions in Serbia in the future. Based on the obtained results of research on the efficiency of financial institutions in Serbia using the OCRA method, it can be concluded that banks and insurance companies are the most efficient in order. They are in order: other financial institutions, financial leasing providers, voluntary pension funds, broker-dealer companies, open-end investment funds, voluntary pension fund management companies and investment fund management companies. This positioning of financial institutions in Serbia was influenced by numerous macro and micro factors. The development of the financial market plays a significant role in this. It is still not at the level of developed market economies.

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