Sinarmas MSIG Life Officially Conducts Listing of its Shares
on the Indonesia Stock Exchange

Jakarta, July 9, 2019 - PT Asuransi Jiwa Sinarmas MSIG Tbk. (stock code: LIFE) also known as Sinarmas MSIG Life (SMiLe) conducted initial public offering (listing) on the Indonesia Stock Exchange on Tuesday (9/7). Sinarmas MSIG Life (SMiLe) is a company engaging in life insurance, including life insurance business under sharia principle as well as serving as founder and administrator of a pension fund.

Sinarmas MSIG Life (SMiLe) is a new issuer whose shares have been listed on the Indonesia Stock Exchange this year. During the initial public offering/IPO), PT Sinar Mas Multiartha Tbk., in its capacity as the company's shareholder, offered a total of 393,750,000 shares to the public. It is equivalent to 37.5% of the company's issued and fully paid capital after the IPO. The IPO value of Sinarmas MSIG Life is IDR12,100 per share with the total value of IDR4.76 trillion. PT Sinarmas Sekuritas acted as the lead underwriter.

There has been no injection of funds in the said IPO as no new shares were issued; rather than that, there was a divestment of the existing shares owned by PT Sinar Mas Multiartha Tbk. The bookbuiding took place from June 20-21, 2019, whereas the public offering was conducted from July 1-3, 2019.

Sinarmas MSIG Life (SMiLe) was established on April 14, 1985 as PT Asuransi Jiwa Purnamala Internasional Indonesia. The company's name was subsequently changed to PT Asuransi Jiwa Eka Life in 1989, and it eventually became PT Asuransi Jiwa Sinarmas in 2007.

Futhermore, in 2011 the company's name experienced another change to PT Asuransi Jiwa Sinarmas MSIG when a Japanese insurance powerhouse, namely Mitsui Sumitomo Insurance Co., Ltd., joined in the company's ownership.

As at the end of 2018, the net asset value of Sinarmas MSIG Life (SMiLe) reached IDR15.55 trillion. Net premiums booked last year totalled IDR4.32 trillion or an inrease compared to 2017 totalling IDR3.80 trillion. By taking into account contributions from shariah products, the said premium income was equivalent to IDR5.26 trillion or an increase compared to 2017 when it totalled IDR4.91 trillion. At the same time, profits in 2018 reached IDR342.53 billion.

Total premiums of Sinarmas MSIG Life (SMiLe), taking into account contributions from shariah products, are projected to reach IDR6.28 trillion this year.