PT Maskapai Reasuransi Indonesia Tbk. (called “Marein” or “the Company”) based on Notarial Deed No. 15 dated June 4, 1953 made by Anton Frederik Schut substitute of Meester Karel Eduard Krijgsman, a Public Notary in Jakarta, and has been ratified by the Minister of Justice of the Republic of Indonesia (now The Minister of Law and Human Rights) No. J.A5/108/3 dated December 17, 1953 and announced in the State Gazette No. 173 dated March 19, 1954, the supplement to State Gazette No. 181 dated March 23, 1954. The Company began its commercial operations in 1953 and obtained the latest business license from the Directorate General of Domestic Monetary, the Ministry of Finance of the Republic of Indonesia No. Kep-4440/MD/1986 dated July 12, 1986. In 2006, the Company obtained a license to start a Sharia Business Unit based on Ministry of Finance Decree No. Kep-075/KM.12/2006 dated August 25, 2006. In 2017, the Company increased its Issued and Paid Up Capital through a Right Issue III (PUT III) by issuing Pre-emptive Rights (HMETD) and was recorded in the Company’s Articles of Association which was amended by Notarial Deed of Extraordinary General Meeting of Shareholders No. 32 dated June 20, 2019 made by Notary Mala Mukti, S.H., LL.M., and has been submitted and received by the Minister of Law and Human Rights of the Republic of Indonesia through letter No. AHU-0036512. AH.01.02 dated July 11, 2019 and AHU-AH.01.03-0296773 dated July 11,2019. The composition of Shareholders as of June 30, 2019 are as follows: PT Graha Sentosa Persada (20.47%), AJB Bumiputera 1912 (14.84%) and Public (64.69%). As of May, 2020 Fitch Ratings has affirmed The Company Rating at 'BB+' (int) for international rating and 'AA-' (idn) for national rating.
