20240701_LPGI_Tanggapan atas Permintaan Penjelasan Bursa_31677585_lamp1.pdf

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Daftar Permintaan Penjelasan
PT Lippo General Insurance Tbk
(“Perseroan”)

Agar pertanyaan nomor 6 s.d nomor 10 dapat
dijawab melalui Form E023- Tanggapan
Permintaan Penjelasan Bursa

Terkait dengan Laporan Keuangan Perseroan
per 31 Maret 2024 dan 31 Desember 2023
6. Berdasarkan CALK No. 5 tentang Piutang
Premi, Perseroan membukukan piutang
premi sebesar Rp603 miliar per 31 Maret
2024, meningkat 85,7Y6 dibandingkan per
31 Desember 2023 sebesar Rp324,8
miliar. Sedangkan piutang premi per 31
Desember 2023 menurun 32,146
dibandingkan per 31 Desember 2022
sebesar Rp478,5 miliar. Atas hal tersebut
agar dijelaskan:
a. Latar belakang peningkatan piutang
premi per 31 Maret 2024 dibandingkan
per 31 Desember 2023.
Jawaban :
Peningkatan piutang premi per 31
Maret 2024 sebesar 85,74
dibandingkan — dengan per 31
Desember 2023 disebabkan
meningkatnya piutang premi asuransi
kesehatan per 31 Maret 2024 sebesar
Rp 396.828.753.441 dibandingkan per
31 Desember 2023 sebesar
Rp7.995.246.998 atau naik sebesar
48,6395.
b. Latar belakang kenaikan signifikan
piutang premi asuransi kesehatan per
31 Maret 2024 dibandingkan per 31

Desember 2023.

Jawaban :

Sesuai dengan penjelasan huruf a,
peningkatan tersebut karena

penutupan asuransi kesehatan
sebagian besar terjadi pada awal tahun
sehingga pada akhir tahun menurun
jumlahnya.

LGi

acompanyof Hanwha

Appendix I

PT Lippo General Insurance Tbk
("Company")
Reguest for Explanation

Guestions number 6 to 11 should be answered
through Form E023 - Response to Exchange's
Reguest for Explanation

Related to the Company's Financial Statements
as of March 31, 2024, and December 31, 2023
6. Based on CALK No. 5 concerning Premium
Receivables, the Company  recorded
premium receivables of Rp603 billion as of
March 31, 2024, an increase of 85.796
compared to December 31, 2023, which was
Rp324.8 billion. Meanwhile, premium
receivables as of December 31, 2023,
decreased by 32.196 compared to December
31, 2022, which was Rp478.5 billion. Please
explain the following:
a. The background of the increase in
premium receivables as of March 31,
2024, compared to December 31, 2023.
Answer :
The increase in premium receivables as
of March 31, 2024, by 85.796 compared to
December 31, 2023, was caused by an
increase in health insurance premium
receivables as of March 31, 2024,
amounting to Rp 396,828,753,441
compared to December 31, 2023, which
amounted to Rp 7,995,246,998, or an
increase of 48.63Y5

b. The background of the significant
increase in health insurance premium
receivables as of March 31, 2024,
compared to December 31, 2023.
Answer :

In accordance with the explanation in
letter a, the increase was due to the fact
that the majority of health insurance
policies are issued at the beginning of the
year, resulting ina decrease by the end of
the year. rn

PT Lippo General Insurance Tbk | www.lgi.co.id | Contact Center: 62 21 1500 563

c. Latar belakan penurunan piutang

premi per 31 Desember 2023
dibandingkan per 31 Desember 2022.
Jawaban :

Penurunan piutang premi per
31 Desember 2023 sebesar
Rp324.768.246.261 dibandingkan
dengan per 31 Desember 2022
sebesar Rp478.455.026.894 atau
menurun sebesar 2,14 disebabkan
menurunnya piutang premi asuransi
kebakaran per 31 Desember 2023
sebesar Rp228.275.715.441
dibandingkan per 31 Desember 2022
sebesar Rp331.590.436.254 atau
turun sebesar 31,245.

. Latar belakang menurunnya piutang
premi asuransi kebakaran per 31
Desember 2023 dibandingkan 31
Desember 2022.

Jawaban :

Sesuai dengan penjelasan huruf c,
penurunan tersebut karena penurunan
penutupan — asuransi — kebakaran
khususnya pada bulan Desember 2023
sebesar Rp154.284.032.134
dibandingkan dengan bulan yang
sama tahun 2022 sebesar
Rp224.706.389.283 atau turun
sebesar 31,3Y4.

. Latar belakang tidak terdapat piutang
premi asuransi jiwa dan kematian
mulai tahun 2023 hingga 2024.
Jawaban :

Hal ini karena adanya divestasi saham
PT Lippo Life Assurance sebanyak
99,994 sebelum 31 Maret 2023
sehingga per 31 Desember 2023 dan
31 Maret 2024 saldo piutang premi
asuransi jiwa dan kematian menjadi nil.

Latar belakang cukup tingginya piutang
premi yang sudah jatuh tempo lebih
dari 90 hari, yaitu sebesar Rp14,9

miliar per 31 Maret 2024 dan Rp29,8
miliar per 31 Desember 2023.

LGI

acompanyof Hanwha

Cc. The background of the decrease in

premium receivables as of December 31,
2023, compared to December 31, 2022.
Answer :

The decrease in premium receivables as
of December 31, 2023, by
Rp324,768,246,261 compared to
December 31, 2022, which was
Rp478,455,026,894, or a decrease of
21”, was due toa decrease in fire
insurance premium receivables as of
December 31, 2023, amounting to
Rp228,275,715,441 compared to
Rp331,590,436,254 as of December 31,
2022, a decrease of 31.275.

. The background of the decrease in fire

insurance premium receivables as of
December 31, 2023, compared to
December 31, 2022.

Answer :

In accordance with the explanation in
letter c, the decrease was due to a
reduction in fire insurance policies,
specifically in December 2023, amounting
to Rp154,284,032,134 compared to the
same month in 2022, which amounted to
Rp224,706,389,283, a decrease of 31.34

. The background of the absence of life and

death insurance premium receivables
from 2023 to 2024.

Answer:

This was due to the divestment of 99.99Y-
of PT Lippo Life Assurance shares before
March 31, 2023, resulting in the balance
of life and death insurance premium
receivables being nil as of December 31,
2023, and March 31, 2024.

The background of the relatively high
overdue premium receivables of more
than 90 days, which were Rp14.9 billion
as of March 31, 2024, and Rp29.8 billion
as of December 31, 2023.

hb

PT Lippo General Insurance Tbk | www.lgi.co.id | Contact Center: 162 21 1500563

Jawaban :

Hal ini karena adanya piutang premi
PT Mitra Mantap Mandiri yang sudah
disetujui untuk dibayar secara cicilan
dan melalui cara pembayaran offset
dengan pemakaian internet dan akan
lunas pada tahun 2028.

9- Strategi Perseroan untuk menagih
piutang yang sudah jatuh tempo.
Jawaban :

Perseroan mempunyai standar
prosedur dalam penagihan yang
mengharuskan departemen yang
menangani penagihan senantiasa

melakukan penagihan kepada
tertanggung, broker, agen dan lain-lain
dengan bekerjasama dengan

marketing sehingga meminimalkan
adanya piutang yang tidak tertagih.

h. Kebijakan Perseroan atas pelanggan
dengan piutang macet.
Jawaban :
Seperti penjelasan huruf g, apabila
terdapat piutang premi yang
penagihannya mengalami kendala
akan segera meminta pembatalan
polis.

7. Berdasarkan CALK No. 19 tentang
Liabilitas Kontrak Asuransi, Perseroan
membukukan liabilitas kontrak asuransi
per sebesar Rp2,2 triliun per 31 Maret
2024, meningkat 374 dibandingkan per
31 Desember 2023 sebesar Rp1,6 triliun.
Liabilitas kontrak asuransi per 31
Desember 2023 menurun 15,196
dibandingkan per 31 Desember 2022
sebesar Rp1,9 triliun. Atas hal tersebut
agar dijelaskan:

a. Latar belakang kenaikan liabilitas
kontrak asuransi per 31 Maret 2024
dibandingkan per 31 Desember 2023.
Jawaban :

Peningkatan Liabilitas Kontrak

Asuransi per 31 Maret 2024 sebesar
37,0x dibandingkan dengan per 31

LGI

acompanyof Hanwha

Answer :

This was due to the premium receivables
from PT Mitra Mantap Mandiri, which
have been approved to be paid in
installments and through offset payments
using internet services, and will be fully
paid off by 2028.

9. The Company's strategy for collecting
overdue receivables.
Answer :
The Company has standard procedures
for collections, which reguire the
department responsible for collections to
consistently follow up with policyholders,
brokers, agents, and others in
collaboration with the marketing team.
This approach aims to minimize the
occurrence of uncollected receivables.

h. The Company's policy on customers with
bad debts.
Answer :
As explained in letter g, if there are
premium receivables that encounter
collection difficulties, the Company will
promptly reguest the cancellation of the
policy.

. Based on CALK No. 19 concerning Insurance

Contract Liabilities, the Company recorded
insurance contract liabilities of Rp2.2 trillion
as of March 31, 2024, an increase of 3745
compared to December 31, 2023, which was
Rp1.6 trillion. Insurance contract liabilities as
of December 31, 2023, decreased by 15.15
compared to December 31, 2022, which was
Rp1.9 trillion. Please explain the following:
a. The background of the increase in
insurance contract liabilities as of March
31, 2024, compared to December 31,
2023.

Answer :
The increase in Insurance Contract

Liabilities as of March 31, 2024, by
37.0Yo compared to December 31, 2023,

PT Lippo General Insurance Tbk | www.Igi.co.id | Contact Center: -62 21 1500 563

Desember 2023 disebabkan

meningkatnya liabilitas kontrak
asuransi kesehatan per 31 Maret 2024
sebesar Rp719.840.744.879

dibandingkan per 31 Desember 2023
sebesar Rp187.787.817.712 atau naik
sebesar 283,396.

b. Latar belakang penurunan liabilitas
kontrak asuransi per 31 Desember
2023 dibandingkan per 31 Desember
2022.

Jawaban :

Sesuai penjelasan huruf a, hal ini
disebabkan karena penutupan premi
untuk asuransi kesehatan mayoritas
pada setiap bulan Januari 2024
sehingga liabilitas kontrak asuransinya
akan menurun pada bulan Desember
setiap tahunnya.

8. Perseroan per 31 Maret 2024
membukukan total pendapatan sebesar
Rp710,6 miliar, menurun 27,746 dibanding
periode yang sama pada tahun 2023. Total
pendapatan Perseroan per 31 Desember
2023 sebesar Rp3 triliun, meningkat
45,4 dibandingkan per 31 Desember
2022 sebesar Rp2 triliun. Atas hal tersebut
agar dijelaskan:

a. Latar belakang penurunan total
pendapatan per 31 Maret 2023
dibandingkan 31 Maret 2023.
Jawaban :

Penurunan pandapatan sebesar 27,75
disebabkan karena menurunnya
pendapatan premi bruto asuransi kredit
dan jaminan dimana pada 31 Maret
2023 sebesar Rp545.631.539.334
menjadi sebesar Rp241.293.043.191
pada 31 Maret 2024 atau turun 55,846.

b. Latar belakang penurunan pendapatan
premi bruto asuransi kredit dan jaminan
per 31 Maret 2024 dibandingkan per 31
Maret 2023.

LGiI

acompanyof Hanwha

was caused by an increase in health
insurance contract liabilities as of March
31, 2024, amounting to
Rp719,840,744,879  compared to
December 31, 2023, which amounted to
Rp187,787,817,712, an increase of
283.3Yo.

b. The background of the decrease in
insurance contract liabilities as of
December 31, 2023, compared to
December 31, 2022.

Answer :

In accordance with the explanation in
letter a, this was caused by the majority
Of health insurance premiums being
issued in January 2024, resulting in a
decrease in insurance contract liabilities
by December of each year

8. As of March 31, 2024, the Company recorded
total revenue of Rp710.6 billion, a decrease
of 27.7Y5 compared to the same period in
2023. The Company's total revenue as of
December 31, 2023, was Rp3 trillion, an
increase of 45.4/o compared to December
31, 2022, which was Rp2 trilion. Please
explain the following:

a. The background of the decrease in total
revenue as of March 31, 2023,
compared to March 31, 2023.

Answer :

The decrease in revenue by 27.74 was
due to a decline in gross premium
income from credit and guarantee
insurance, which  dropped — from
Rp545,631,539,334 as of March 31,
2023, to Rp241,293,043,191 as of March
31, 2024, a decrease of 55.8K.

b. The background of the decrease in gross
premium income from credit and
guarantee insurance as of March 31,
2024, compared to March 31, 2023.

PT Lippo General Insurance Tbk | www.Igi.co.id | Contact Center: 462 21 1500 563

Jawaban :

Seperti penjelasan huruf a, penurunan
pada 31 Maret 2024 disebabkan oleh
kinerja pencapaian Asuransi Kredit
karena lepasnya salah satu nasabah
utama Perseroan pada periode
tersebut.

. Latar belakang peningkatan

pendapatan per 31 Desember 2023
dibandingkan 31 Desember 2022.
Jawaban :
Peningkatan Pendapatan per 31
Desember 2023 sebesar
Rp2.960.002.923.845 dibandingkan
dengan per 31 Desember 2022 sebesar
Rp2.029.639.264.224 atau naik
sebesar 45,8 terutama disebabkan
meningkatnya pendapatan premi bruto
asuransi kredit dan jaminan sebesar
169,746.

. Latar belakang peningkatan signifikan

pendapatan premi bruto asuransi kredit
dan jaminan per 31 Desember 2023
dibandingkan per 31 Desember 2022.
Jawaban :
Peningkatan yang signifikan terjadi
seiring dengan peningkatan besar
dalam pencairan pinjaman untuk
melindungi  klien/mitta — Perseroan
karena mereka berhasil meningkatkan
penetrasi pasar dan akuisisi peminjam
dan didukung kemampuan digital
Perseroan dalam memproses data
dalam jumlah besar melalui integrasi
API menjadikan prosesnya lebih lancar,
transparan, dan cepat.

. Latar belakang segmen pendapatan
premi bruto tertinggi per 31 Maret 2023
adalah kesehatan, sedangkan per 31
Desember 2023 adalah asuransi kredit
dan jaminan.

Jawaban :
Komposisi portofolio produk
dipengaruhi oleh dinamika pasar dari

LGI

acompany of Hanwha

Answer :

As explained in letter a, the decrease as
of March 31, 2024, was due to the
performance decline in Credit Insurance
caused by the loss of one of the
Company's major clients during that
period.

. The background of the increase in

revenue as of December 31, 2023,
compared to December 31, 2022.
Answer :

The increase in revenue as of December
31, 2023, to Rp2,960,002,923,845
compared to Rp2,029,639,264,224 as of
December 31, 2022, an increase of
45.8”, was primarily due to a 169.745
increase in gross premium income from
credit and guarantee insurance.

. The background of the significant

increase in gross premium income from
credit and guarantee insurance as of
December 31, 2023, compared to
December 31, 2022.

Answer :

The significant increase occurred
alongside a substantial rise in loan
disbursements to protect the Company's
clients/partners, as they successfully
enhanced market penetration and
borrower — acguisition. — This was
supported by the Company's digital
capabilities in processing large volumes
of data through API integration, making
the process smoother, more transparent,
and faster.

. The background of the highest gross

premium income segment as of March
31, 2023, being health insurance,
whereas as of December 31, 2023, it
was credit and guarantee insurance.
Answer :

The composition of the product portfolio
is influenced by market dynamics over

PT Lippo General Insurance Tbk | www.Igi.co.id | Contact Center: -62 21 1500 563

waktu ke waktu. Asuransi Kesehatan
adalah kontributor utama di periode 01,
sementara produk seperti Asuransi
Kredit berkembang bertahap dengan
tingkat pertumbuhan yang lebih cepat
mengikuti dinamika pasar.

f Produk asuransi/segmen asuransi
unggulan Perseroan saat ini.
Jawaban :
Terdapat empat pilar utama sebagai
produk unggulan: Asuransi Kesehatan,
Asuransi Properti, Asuransi Kredit,
Bisnis Digital. Pada segmen dipimpin
oleh Broker Channel, Agency dan
Ohers (Bancassurance, Digital, Korea
Desk).

9. Strategi Perseroan untuk meningkatkan
pendapatan kedepannya.

Jawaban :

Perusahaan merencanakan

pendapatan yang meningkat di masa

datang. Dengan cara :

1) Meneruskan momentum
pertumbuhan pada produk-produk
dan segmen unggulan seperti yang
telah disebutkan diatas.

2) Pengembangan berkelanjutan pada
4 Pilar produk agar dapat terus
beradaptasi dengan kebutuhan
pasar,

3) Penguatan tiap segmen bisnis dan
kanal pemasaran,

4) Penerapan prinsip kehati-hatian
dalam proses seleksi risiko dan
penyusunan program/dukungan
reasuransi yang lebih efektif sesuai
profil risiko yang di harapkan.

9. Perseroan per 31 Maret 2024

membukukan laba bersih sebesar Rp6,8
miliar, menurun 68,396 dibandingkan per
31 Maret 2023 sebesar Rp21,4 miliar. Per
34 Desember 2023, Perseroan
membukukan laba bersih sebesar Rp24,9
miliar, menurun 66,396 dibandingkan per

LGI

acompanyof Hanwha

time. Health Insurance was the main
contributor in O1, while products like
Credit Insurance gradually developed
with a faster growth rate following market
dynamics.

f. The Company's current leading
insurance products/segments.
Answer:
There are four main pillars as flagship
products: Health Insurance, Property
Insurance, Credit Insurance, and Digital
Business. In this segment, the leading
distribution  channels are Broker
Channel, Agency, and Others
(Bancassurance, Digital, Korea Desk).

9. The Company's strategy to increase
revenue in the future.

Answer :

The Company plans to increase revenue

in the future by:

1) Continuing the growth momentum in
flagship products and segments as
mentioned above.

2) Ongoing development of the 4
Product Pillars to continuously adapt
to market needs.

3) Strengthening each business
segment and marketing channel.

4) Applying prudent principles in the risk
selection process and developing
more effective reinsurance
programs/support according to the
desired risk profile.

9. Asof March 31, 2024, the Company recorded
a net profit of Rp6.8 billion, a decrease of
68.34 compared to March 31, 2023, which
was Rp21.4 billion. As of December 31, 2023,
the Company recorded a net profit of Rp24.9
billion, a decrease of 66.3Y4 compared to

December 31, 2022, which was Rp73.8
billion. Please explain the following:

PT Lippo General Insurance Tbk | wwwilgi.co.id | Contact Center: -62 21 1500 563

31 Desember 2022 sebesar Rp73,8 miliar.

Atas hal tersebut agar dijelaskan:

a. Latar belakang penurunan laba bersih

Perseroan per 31 Maret 2024
dibandingkan per 31 Maret 2023.
Jawaban :
Penurunan laba bersih Perseroan per
31 Maret 2024 dibandingkan dengan
per 31 Maret 2023 terutama disebabkan
penurunan pendapatan underwriting
untuk asuransi kesehatan masing-
masing sebesar Rp 5.802.010.678
per 31 Maret 2024 dan sebesar
Rp19.724.435.254 per 31 Maret 2023
atau turun 70,696.

b. Latar belakang penurunan laba bersih

Perseroan per 31 Desember 2023
dibandingkan per 31 Desember 2022.
Jawaban :
Penurunan laba bersih Perseroan per
31 Desember 2023 dibandingkan
dengan per 31 Desember 2022
terutama disebabkan penurunan
pendapatan underwriting untuk
asuransi kesehatan masing-masing
sebesar Rp(18.061.072.742) per 31
Desember 2023 dan sebesar
Rp49.336.190.801 per 31 Desember
2022 atau turun 136,646.

c. Upaya Perseroan untuk dapat
membukukan laba bersih kedepannya.
Jawaban :

Dari sisi bisnis utama sebagai
perusahaan asuransi, Perseroan akan
memperbaiki portfolio asuransi
kesehatan dengan menyesuaikan
harga premi pasca covid 19 dan pada
portfolio asuransi kebakaran akan
melakukan prinsip kehati-hatian dalam
melakukan akseptasi risiko.

Disamping itu, Perseroan akan
meningkatkan hasil investasi dengan
menempatkan pada porfolio investasi
yang aman dengan imbal hasil yang
lebih baik seperti pada obligasi

LGI

acompanyof Hanwha

a. The background of the decrease in the

Company's net profit as of March 31,
2024, compared to March 31, 2023.
Answer :

The decrease in the Company's net profit
as of March 31, 2024, compared to March
31, 2023, was primarily due toa decrease
in underwriting income for health
insurance, amounting to Rp
5,802,010,678 as of March 31, 2024,
compared to Rp 19,724,435,254 as of
March 31, 2023, a decrease of 70.654.

. The background of the decrease in the

Company's net profit as of December 31,
2023, compared to December 31, 2022.
Answer :

The decrease in the Company's net profit
as of December 31, 2023, compared to
December 31, 2022, was primarily due to
a decrease in underwriting income for
health insurance, amounting to Rp
(18,061,072,742) as of December 31,
2023, compared to Rp 49,336,190,301 as
of December 31, 2022, a decrease of
136.690.

The Company's efforts to record net profit
in the future.

Answer :

From the perspective of its core business
as an insurance company, the Company
will improve its health insurance portfolio
by adjusting premium prices post-COVID-
19. For the fire insurance portfolio, the
Company will apply prudent principles in
risk acceptance.

Additionally, the Company will enhance
investment returns by allocating funds to
safer investment portfolios with better
yields, such as government bonds, time
deposits, and mutual funds.

PT Lippo General Insurance Tbk | wwwilgi.co.id | Contact Center: 462 21 1500 563

LGI

acompanyof Hanwha

pemerintah, deposito berjangka dan
reksa dana.

10.Perseroan per 31 Desember 2023 10. As of December 31, 2023, the Company

membukukan arus kas operasi secara recorded a negative operating cash flow of
negatif sebesar Rp9,2 miliar. Atas hal Rp9.2 billion. Please explain the following:
tersebut agar dijelaskan :

a. Latar belakang Perseroan a. The background of the Company

membukukan arus kas operasi secara
negatif per 31 Desember 2023.
Jawaban :

Per 31 Desember 2023, arus kas
operasi negatif terutama disebabkan
karena meningkatnya pembayaran
klaim dimana per 31 Desember 2023
sebesar Rp/(2.961.438.044.993)
dimana per 31 Desember 2022
sebesar Rp(1.980.322.672.591) atau
naik sebesar 49,672.

b. Strategi pengelolaan arus kas
Perseroan.
Jawaban :
Perseroan — akan — memaksimalkan
pengelolaan arus kas dan kelebihan
dana ditempatkan pada jenis investasi
yang memberikan imbal hasil yang lebih
tinggi dari deposito berjangka dan
disesuaikan jatuh temponya dengan
portfolio liabilitas Perseroan.

recording negative operating cash flow as
of December 31, 2023.

Answer :

As of December 31, 2023, the operating
cash flow was negative, primarily due to
an increase in claim  payments,
amounting to Rp (2,961,438,044,993) as
of December 31, 2023, compared to Rp
(1,980,322,672,591) as of December 31,
2022, an increase of 49.6Y4.

. The Company's cash flow management

strategy.
Answer :
The Company will maximize cash flow
management and allocate excess funds
to investments that offer higher returns
than time deposits, with maturities
adjusted to match the Company's liability
portfolio.

PT Lippo General Insurance Tbk | www.lgi.co.id | Contact Center: 162 21 1500 563