Started off to engage on April 14, 1985, as PT Asuransi Jiwa Purnamala Internasional Indonesia (PII) that ran a life insurance business including life insurance business under sharia principle as well as serving as founder and administrator of a pension fund, including in sharia principle.
After changing its name twice - as PT Asuransi Jiwa Eka Life in 1989 and PT Asuransi Jiwa Sinarmas in 2007, PT Asuransi Jiwa Sinarmas MSIG Tbk. also known as Sinarmas MSIG Life - SMiLe) emerged as a joint venture life insurance company equally owned at 50% each by PT Sinar Mas Multiartha Tbk and Japan's insurance powerhouse, Mitsui Sumitomo Insurance Co., Ltd in 2011. July 9, 2019, PT Asuransi Jiwa Sinarmas MSIG Tbk. officially registered on the Indonesia Stock Exchange (IDX) and became a public company with a composition of 80% share ownership by Mitsui Sumitomo Insurance Co., Ltd., 12.5% PT Sinar Mas Multiartha Tbk and 7.5% public.
Sinarmas MSIG Life's operational activities are carried out in 65 service and marketing offices, supported by more than 800 employees and around 8,200 marketers to serve the needs of 1.2 million individual and group customers for numerous protection and investment product solutions at various stages of life.
The following is the composition of the company's shareholders:
|Shareholders||Number of Shares||Percentage|
|PT Sinar Mas Multiartha, Tbk||131,250,000||12,5%|
|Mitsui Sumitomo Insurance Co, Ltd||840,000,000||80%|