about us

About Asuransi MAG

Asuransi MAG innovates to answer Your protection needs.

SHORT HISTORY
With a 40 year we never stopped innovating to answer the customer’s needs for protection.

Established on 14th November 1980, the company has established its presence in the Indonesian insurance market and has grown into one of the largest insurance companies in the country. With a 40 year history of business operations the company never stops to innovate to answer the customer’s needs for protection. We provide a range of products and solutions with value added services. The company is committed to good business operations by practicing the highest principles of Good Corporate Governance.

  • 1980

    The Company began its operations as a business entity providing general insurance. The head office was in Surabaya in the initial period.

  • 1983

    In cooperation with the Red Shield Co. Ltd., Singapore, the Company began to market group health Insurance products. It was a major step forward taken by the Company since only a few insurance companies sold health insurance then.

  • 1994

    As the company’s business increased, with an eye to improve service to customers’, the Company decided to move its headquarters to Jakarta and Surabaya became a branch office.

  • 2005

    In December, the company was listed on the Jakarta Stock Exchange as a Public company with the trading name AMAG. The Company’s initiative to conduct an initial limited public offering was intended to strengthen the working capital requirements to improve the Company’s performance.

  • 2008

    The representative offices in Makassar, Medan and Palembang were added so that services to the customers could become faster in terms of risks acceptance and claims handling.

  • 2011

    To strengthen the capital structure in order to support future business activities, the Company held a Rights Issue I or Limited Public Offering I (LPO I) to the Shareholders for the purpose of the issuance of Preemptive Rights on October 10 - 21, 2011.

  • 2014

    On February 27th 2014 the Company officially inaugurated its new Head Office at the 17th floor, The City Center Batavia, Tower One, Jalan K.H. Mas Mansyur Kav. 126, Jakarta

  • 2015

    After obtaining an approval from the Financial Services Authority, on June 15th 2015, the company merged with PT Panin Insurance, which was authorized by the Extraordinary General Meeting of Shareholders.

  • 2016

    On October 10th 2016, Fairfax Financial Holdings Limited officially acquired 80% of the Company’s controlling stake through its subsidiary, Fairfax Asia Limited. To meet the provision of a single presence policy, PT Fairfax Insurance Indonesia, with its 80% of shares owned by Fairfax Asia Limited transferred its business portfolio to the Company on December 31st 2016.

Company Values

1ntegrity

Honesty and integrity are essential in all our relationships and will never be compromised.

Teamwork

We are team players – no “egos”.

Excellence

We would like to set high standards.

Achievement Oriented

We are results oriented.

Moving Forward

We always look at new opportunities to grow or improve.

Nilai Nilai Perusahaan

Appreciation

Our diligence and work performance have yielded a satisfying result. It has been proven with the achievements that the Company has successfully made. The support provided by our customers, business partners and stakeholders has strengthened our efforts to continue growing, advancing and developing with you.

View All Achievements
Award Trophy
Shareholder Information
In October 2016, Fairfax Asia Limited took over the controlling share ownership of the Company by 80% (eighty) percent. The acquisition of the Company's majority stake is an ongoing effort to create world-class insurance in Indonesia by bringing Fairfax's global experience, product knowledge, technology and infrastructure to the Indonesian market. Fairfax Asia Limited is a wholly owned subsidiary of Fairfax Financial Holdings Limited, which is a financial services company through its subsidiaries engaged in general insurance, reinsurance and investment management worldwide. Fairfax Financial Holdings Limited was founded in 1985 by its current Chairman and CEO, Prem Watsa. Headquartered in Toronto, Canada, Fairfax Financial Holdings Limited is listed on the Toronto Stock Exchange. Fairfax Asia Limited is part of the Fairfax Group for entities in Malaysia, India, Indonesia, China, Singapore, Hong Kong, Thailand, Sri Lanka and Vietnam. Fairfax is one of the largest and leading non-life insurance companies in Asia.
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Articles of Association Deed
Deed of Articles of Association of PT Asuransi Multi Artha Guna Tbk No. 65 Dated 15 June 2015
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